Updated Duplex with
For Sale
$414,900
1302-1304 NE 16th Terrace, Cape Coral, FL 33909
Two residences combine flexible layouts, private outdoor areas, and recent improvements near Del Prado Blvd and Pine Island Road.
Property Size2,160 SF
Price / SF$192.08
Days on Market91
Property Features for 1302-1304 NE 16th Terrace
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR+den/2BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Gross Income
$23,520
Amenities
screened porches
private patio
private laundry
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Listing Agency:
Premier Sotheby's Int'l Realty
Listed By:
Maxwell Thompson · License #258009817
(239) 482-5700
Source:
Swfloridarealestate
Added: Jul 20
Changed: Oct 15
Last Checked: Oct 7 at 2:14PM
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 Premier Sotheby's Int'l Realty
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Investment Insights
Based on property information with market context.
This 2,160-square-foot duplex, built in 2006, contains two residences with matching layouts that include two bedrooms plus a den, two full bathrooms, vaulted ceilings, open living areas, tile flooring, private laundry, and a one-car garage. Each unit also provides a screened porch and a private concrete patio measuring 10 by 12 feet.
Recent work includes a roof replacement completed in 2023, refreshed appliances and a water heater in Unit 1302, a new water softener, and interior painting in Unit 1304. One residence is leased through February 28, 2027, while the other has been updated and is ready for occupancy. The property is situated near Del Prado Blvd and Pine Island Road, with access to shopping, dining, and everyday services.
Recent work includes a roof replacement completed in 2023, refreshed appliances and a water heater in Unit 1302, a new water softener, and interior painting in Unit 1304. One residence is leased through February 28, 2027, while the other has been updated and is ready for occupancy. The property is situated near Del Prado Blvd and Pine Island Road, with access to shopping, dining, and everyday services.
Key Highlights
- Two‑unit duplex totaling 2,160 square feet; built in 2006
- Each residence includes 2 bedrooms plus a den, 2 full baths, private laundry, and a 1‑car garage
- Both units feature screened porches and private 10x12 concrete patios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,590
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,800
$571.8K
Cap Rate 7%
$408,429
$408.4K
Cap Rate 9%
$317,667
$317.7K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$42.8K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.8K $18.91/SF
− OpEx
−$12.3K −$5.67/SF
NOI
$28.6K $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%
$571,800
Cap Rate 7%
$408,429
Cap Rate 9%
$317,667
Alternative Uses
Best Use
Multifamily LT 5
$408.4K
$357.4K – $476.5K
NOI $28,590 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$560.5K
$490.4K – $653.9K
NOI $39,233 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences combine flexible layouts, private outdoor areas, and recent improvements near Del Prado Blvd and Pine Island Road.
Where is this duplex located?
The property is located at 1302-1304 NE 16th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,160 square feet; built in 2006; Each residence includes 2 bedrooms plus a den, 2 full baths, private laundry, and a 1‑car garage; Both units feature screened porches and private 10x12 concrete patios
