Duplex Residential Income
For Sale
$560,000
117/121 SE 13th Street, Cape Coral, FL 33990
Fenced duplex with central electric service and ceiling fans, constructed for residential income use.
Property Size2,530 SF
Days on Market185
Property Features for 117/121 SE 13th Street
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Residential Income
Zoning
RML
Taxes and HOA fees
Annual Taxes
$9,438
Amenities
Ceiling Fan(s)
Central, Electric
Fenced
Duplex
Building Details
Building Size
2,530 SF
Year Built
2020
Listing Agency:
MEGA REALTY INTERNATIONAL,INC
Listed By:
Maria Gaviria · License #252011952
(239) 265-7280
Source:
Evrealestate
Added: Mar 3
Changed: Aug 30
Last Checked: Sep 2 at 5:10PM
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 MEGA REALTY INTERNATIONAL,INC
Investment Insights
Based on property information with market context.
This residential income property is configured as a duplex with fenced exterior space. Interior features include ceiling fans and central electric service, supporting a straightforward residential layout for two attached living units.
Constructed in 2020, the property is located at 117/121 SE 13th Street in Cape Coral, Florida. The site carries RML zoning and is accessed from SE 13th Street via Santa Barbara Boulevard N.
Constructed in 2020, the property is located at 117/121 SE 13th Street in Cape Coral, Florida. The site carries RML zoning and is accessed from SE 13th Street via Santa Barbara Boulevard N.
Key Highlights
- Duplex configuration with fenced exterior
- Built in 2020
- RML zoning
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
$31,034
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
5.54%
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%
$620,680
$620.7K
Cap Rate 7%
$443,343
$443.3K
Cap Rate 9%
$344,822
$344.8K
Market Conditions
NOI Build-Up for 2,530 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
$58.9K $23.28/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$56.4K $22.30/SF
− OpEx
−$25.4K −$10.04/SF
NOI
$31.0K $12.27/SF
Area
Cape Coral, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$620,680
Cap Rate 7%
$443,343
Cap Rate 9%
$344,822
Alternative Uses
Best Use
Apartment 5plus
$443.3K
$387.9K – $517.2K
NOI $31,034 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$656.5K
$574.4K – $765.9K
NOI $45,953 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
133
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Fenced duplex with central electric service and ceiling fans, constructed for residential income use.
Where is this residential income property located?
The property is located at 117/121 SE 13th Street Cape Coral, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Duplex configuration with fenced exterior; Built in 2020; RML zoning
