Remodeled Duplex with Screened
For Sale
$175,000
Pending
1104 Vineyard Street, Lehigh Acres, FL 33936
Residential, Lehigh Acres, FL
Property Size644 SF
Lot Size0.10 Acres
Days on Market47
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
Bedroom 2, Dining Room, Bathroom 1, Bedroom 1
Security features
Security
Patio and Porch features
Porch, Patio
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
Pending
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
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
screened back patio
laundry room under air
high speed fiber optic internet
video security system
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
Changed: Sep 12
Last Checked: Sep 25 at 7:06AM
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 remodeled duplex property offers 644 square feet on a 0.097-acre lot, with tile flooring, a living-and-dining area, walk-in closet, pantry, and a dedicated laundry room under air. Recent improvements include a 2026 dimensional shingle roof, 2019 HVAC system, 2026 water heater, newer kitchen cabinetry and countertops, stainless steel appliances, recessed lighting, updated plumbing, and a renovated bathroom with a frameless glass shower and custom LED mirror.
The property has public water and public sewer, a six-foot fence, impact windows and doors, central electric heating and cooling, and a screened patio. Additional features include high-speed fiber optic internet, a video security system, storage shelving, and an efficient washer and dryer. The property is outside a flood zone and is located in Lehigh Acres, with access to Fort Myers and area amenities.
The property has public water and public sewer, a six-foot fence, impact windows and doors, central electric heating and cooling, and a screened patio. Additional features include high-speed fiber optic internet, a video security system, storage shelving, and an efficient washer and dryer. The property is outside a flood zone and is located in Lehigh Acres, with access to Fort Myers and area amenities.
Key Highlights
- 644‑square‑foot duplex on a 0.097‑acre lot
- 2026 dimensional shingle roof and 2026 water heater
- 2019 HVAC system with central electric 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
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Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
835
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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, impact openings, and a fenced exterior.
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 duplex on a 0.097‑acre lot; 2026 dimensional shingle roof and 2026 water heater; 2019 HVAC system with central electric heating and cooling
