Renovated Duplex with Private
New
For Sale
$400,000
115 SE 24th AVE A+B, Cape Coral, FL 33990
Two separately configured residences provide a combined five bedrooms and shared backyard space.
Property Size2,242 SF
Days on Market5
Property Features for 115 SE 24th AVE A+B
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,542
Amenities
private backyard
Building Details
Building Size
2,242 SF
Year Built
1972
Listing Agency:
Dong Realty LLC
Listed By:
Kevin Dong · License #258027156
(225) 933-7838
Source:
Kwelevate
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 11:55PM
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 Dong Realty LLC
Investment Insights
Based on property information with market context.
This legal duplex in Cape Coral includes two residences: Unit A has 2 bedrooms and 2 bathrooms, while Unit B offers 3 bedrooms, 2 bathrooms, and a 2-car garage. The property was built in 1972 and has undergone extensive renovation, including a 2024 roof, new air-conditioning units, water heaters, electrical panel, and riser. Interior finishes include wood-look tile flooring, LED lighting, quartz kitchen counters, hardwood cabinets with soft-close doors, and stainless-steel appliances. Both bathrooms have updated tile showers, toilets, and vanities.
The property includes a private backyard and is identified as being in an X flood zone. The two-unit configuration and distinct bedroom counts provide flexibility for occupancy across both residences.
The property includes a private backyard and is identified as being in an X flood zone. The two-unit configuration and distinct bedroom counts provide flexibility for occupancy across both residences.
Key Highlights
- Legal duplex with two separate residences
- Unit A: 2 bedrooms and 2 bathrooms
- Unit B: 3 bedrooms, 2 bathrooms, and a 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,676
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,520
$593.5K
Cap Rate 7%
$423,943
$423.9K
Cap Rate 9%
$329,733
$329.7K
Market Conditions
NOI Build-Up for 2,242 SF
Gross rent
$44.4K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.4K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.7K $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 Rate 5%
$593,520
Cap Rate 7%
$423,943
Cap Rate 9%
$329,733
Alternative Uses
Best Use
Multifamily LT 5
$423.9K
$371.0K – $494.6K
NOI $29,676 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$392.9K
$343.8K – $458.4K
NOI $27,501 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$581.7K
$509.0K – $678.7K
NOI $40,722 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences provide a combined five bedrooms and shared backyard space.
Where is this duplex located?
The property is located at 115 SE 24th AVE A+B Cape Coral, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Legal duplex with two separate residences; Unit A: 2 bedrooms and 2 bathrooms; Unit B: 3 bedrooms, 2 bathrooms, and a 2‑car garage
