Remodeled Duplex
New
For Sale
$175,000
1104 Vineyard Street, Lehigh Acres, FL 33936
MULTI_FAMILY - Other - Lehigh Acres, FL
Property Size644 SF
Lot Size0.10 Acres
Price / SF$271.74
Days on Market1
Property Features for 1104 Vineyard Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-2
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Dining Room, Bedroom 1, Bedroom 2, Bathroom 1
Security features
Security
Patio and Porch features
Patio, Porch
Pets allowed
Yes
Interior features
LivingDiningRoom, CustomMirrors, Pantry, ShowerOnly, SeparateShower, CableTv, WalkInClosets, WindowTreatments, SplitBedrooms
Exterior features
Fence, SecurityHighImpactDoors, Patio, RoomForPool
Fencing
Fenced
Appliances
Dryer, IceMaker, Microwave, Range, Refrigerator, RefrigeratorWithIceMaker, Washer
Subdivision
LEHIGH ACRES
Lot features
Rectangular Lot
Standard status
Active
APN
31-44-27-L3-00002.0030
Size
644 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOMESTEAD PARK BLK.2 PB 13 PG 175 LOT 3
Tax Annual Amount
1681
Legal Description
HOMESTEAD PARK BLK.2 PB 13 PG 175 LOT 3
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
fenced yard
screened patio
security system
high-speed internet
in-unit laundry
stainless steel appliances
impact windows
Building Details
Year built
1963
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty World-C Bagans 1st
(239) 369-5841
Listed By:
David Mulligan · License #258024407
(239) 878-3702
Added: Aug 10
Last Checked: Aug 10 at 7:06PM
MLS# 2026031053
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property includes a 644-square-foot, two-bedroom, one-bath residence on a 0.097-acre lot in Lehigh Acres. Interior improvements include porcelain tile flooring, updated cabinetry and countertops, stainless steel appliances, recessed lighting, upgraded plumbing and electrical systems, and a remodeled bathroom with a frameless glass shower. The home also has a walk-in closet, an air-conditioned laundry room, storage shelving, impact-rated windows and doors, and a screened patio. A 2026 dimensional shingle roof and 2026 water heater are listed, along with a 2019 HVAC system.
The property is served by public water and public sewer, has no HOA, and is outside a flood zone. The parcel is fenced and includes a video security system, high-efficiency washer and dryer, and high-speed fiber optic internet. Located on Vineyard Street in Lehigh Acres, it is described as minutes from the town center and major amenities, with access toward Fort Myers.
The property is served by public water and public sewer, has no HOA, and is outside a flood zone. The parcel is fenced and includes a video security system, high-efficiency washer and dryer, and high-speed fiber optic internet. Located on Vineyard Street in Lehigh Acres, it is described as minutes from the town center and major amenities, with access toward Fort Myers.
Key Highlights
- 644‑square‑foot, two‑bedroom, one‑bath residence on a 0.097‑acre lot
- 2026 dimensional shingle roof and 2026 water heater
- 2019 HVAC system with central heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,524
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,480
$170.5K
Cap Rate 7%
$121,771
$121.8K
Cap Rate 9%
$94,711
$94.7K
Market Conditions
NOI Build-Up for 644 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$12.8K $19.80/SF
− Vacancy
−$574 −$0.89/SF
EGI
$12.2K $18.91/SF
− OpEx
−$3.7K −$5.67/SF
NOI
$8.5K $13.24/SF
Area
Lee County, FL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,480
Cap Rate 7%
$121,771
Cap Rate 9%
$94,711
Alternative Uses
Best Use
Multifamily LT 5
$121.8K
$106.6K – $142.1K
NOI $8,524 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$112.8K
$98.7K – $131.7K
NOI $7,899 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$202.7K
$177.4K – $236.5K
NOI $14,189 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 33936, FL
24,051
Population
10,820
Households
2.2
Avg Household Size
45
Median Age
14%
College-Educated
78%
High-School Grad
36.1 sq mi
ZIP Area
666
Density / Sq Mi
$48,260
Median Household Income
$27,363
Median Earnings
$1,260
Median Rent
$205,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated residential income property with public utilities, a fenced lot, and modern interior improvements.
Where is this duplex located?
The property is located at 1104 Vineyard Street Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 644‑square‑foot, two‑bedroom, one‑bath residence on a 0.097‑acre lot; 2026 dimensional shingle roof and 2026 water heater; 2019 HVAC system with central heating and cooling
