2019-Built
For Sale
$524,900
1117/ 1119 Diplomat Pkwy E, Cape Coral, FL 33909
Two three-bedroom residences feature open layouts, two full bathrooms, and contemporary interior finishes.
Property Size1,209 SF
Price / SF$434.16
Days on Market238
Property Features for 1117/ 1119 Diplomat Pkwy E
General Information
Standard status
Active
Size
1,209 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,470
Building Details
Year Built
2019
Listing Agency:
RE/MAX Realty Team
(239) 771-9270
Listed By:
Stephany Duarte · License #258030551
(239) 771-9270
Source:
Exprealty
Added: Jan 5
Changed: Aug 30
Last Checked: Aug 31 at 6:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Realty Team
Investment Insights
Based on property information with market context.
Constructed in 2019, this duplex contains two separate residences, each with three bedrooms and two full bathrooms. Both units are arranged with open-concept living areas and updated finishes, creating a consistent layout across the property.
The property is located in Cape Coral near shopping, dining, schools, and major roadways. Its two-unit configuration supports a range of ownership strategies, including occupying one residence while leasing the other or operating both as rental units.
The property is located in Cape Coral near shopping, dining, schools, and major roadways. Its two-unit configuration supports a range of ownership strategies, including occupying one residence while leasing the other or operating both as rental units.
Key Highlights
- Duplex with two separate residences
- Each unit includes 3 bedrooms and 2 full bathrooms
- Open‑concept layouts in both units
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
$16,003
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
3.05%
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%
$320,060
$320.1K
Cap Rate 7%
$228,614
$228.6K
Cap Rate 9%
$177,811
$177.8K
Market Conditions
NOI Build-Up for 1,209 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
$23.9K $19.80/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$22.9K $18.91/SF
− OpEx
−$6.9K −$5.67/SF
NOI
$16.0K $13.24/SF
Area
Cape Coral, 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%
$320,060
Cap Rate 7%
$228,614
Cap Rate 9%
$177,811
Alternative Uses
Best Use
Multifamily LT 5
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$211.9K
$185.4K – $247.2K
NOI $14,830 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$313.7K
$274.5K – $366.0K
NOI $21,959 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
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 - Two three-bedroom residences feature open layouts, two full bathrooms, and contemporary interior finishes.
Where is this duplex located?
The property is located at 1117/ 1119 Diplomat Pkwy E Cape Coral, FL.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Duplex with two separate residences; Each unit includes 3 bedrooms and 2 full bathrooms; Open‑concept layouts in both units
