Cape Coral Duplex Investment
For Sale
$434,900
1201 SE 24TH, Cape Coral, FL 33990
Newly built duplex with tenants in place in Cape Coral.
Property Size2,254 SF
Lot Size0.23 Acres
Days on Market264
Property Features for 1201 SE 24TH
General Information
Standard status
Active
Size
2,254 SF
Lot size
0.23 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$1,565
Building Details
Building Size
2,254 SF
Year Built
2024
Units
2
Listing Agency:
(904) 656-3551
Listed By:
Valeria Diaz Sequera
(904) 656-3551
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 19 at 12:39PM
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 Valeria Diaz Sequera
Investment Insights
Based on property information with market context.
This newly built duplex in Cape Coral, Florida, presents an investment opportunity with tenants already in place in both units. The property is offered by Southern Impression Homes. It may be a suitable addition to an investment portfolio.
Key Highlights
- Qualified tenant in place for both units.
- Newly built property (2024).
- Exclusive in‑house financing options with low rates.
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
$29,835
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
6.86%
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%
$596,700
$596.7K
Cap Rate 7%
$426,214
$426.2K
Cap Rate 9%
$331,500
$331.5K
Market Conditions
NOI Build-Up for 2,254 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
$44.6K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.6K $18.91/SF
− OpEx
−$12.8K −$5.67/SF
NOI
$29.8K $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%
$596,700
Cap Rate 7%
$426,214
Cap Rate 9%
$331,500
Alternative Uses
Best Use
Multifamily LT 5
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$395.0K
$345.6K – $460.8K
NOI $27,648 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$584.9K
$511.8K – $682.3K
NOI $40,940 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
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
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 - Newly built duplex with tenants in place in Cape Coral.
Where is this duplex located?
The property is located at 1201 SE 24TH Cape Coral, FL.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: Qualified tenant in place for both units.; Newly built property (2024).; Exclusive in‑house financing options with low rates.
