Duplex with Open
For Sale
$524,900
1119 Diplomat Pkwy E 1117/, Cape Coral, FL 33909
Two three-bedroom units feature modern finishes, full bathrooms, and shared access to nearby shopping, dining, schools, and major roadways.
Property Size1,209 SF
Price / SF$434.16
Days on Market290
Property Features for 1119 Diplomat Pkwy E 1117/
General Information
Standard status
Active
Size
1,209 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2019
Listing Agency:
RE/MAX Realty Team
(239) 771-9270
Listed By:
Stephany Duarte · License #258030551
Source:
Naplespropertyguide
Added: Nov 15, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:42PM
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.
Built in 2019, this duplex includes two residential units with open-concept floor plans and modern finishes. Each unit offers 3 bedrooms and 2 full bathrooms, creating a consistent layout across the property. The configuration supports either separate leasing or owner occupancy in one unit while the other is rented, as stated in the property information.
The duplex is located in Cape Coral near shopping, dining, schools, and major roadways. The seller will pay all assessments in full before closing, providing a defined closing-related benefit for the next owner.
The duplex is located in Cape Coral near shopping, dining, schools, and major roadways. The seller will pay all assessments in full before closing, providing a defined closing-related benefit for the next owner.
Key Highlights
- Built in 2019
- Two units, each with 3 bedrooms and 2 full bathrooms
- Open‑concept layouts with modern finishes
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units feature modern finishes, full bathrooms, and shared access to nearby shopping, dining, schools, and major roadways.
Where is this duplex located?
The property is located at 1119 Diplomat Pkwy E 1117/ 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: Built in 2019; Two units, each with 3 bedrooms and 2 full bathrooms; Open‑concept layouts with modern finishes
