Updated Duplex with
For Sale
$425,000
1302 1302-1304 Ne 16th Ter, Cape Coral, FL 33909
Two connected residences offer private outdoor areas, in-unit laundry, and convenient access to Del Prado Boulevard and Pine Island Road.
Property Size2,160 SF
Price / SF$196.76
Days on Market24
Property Features for 1302 1302-1304 Ne 16th Ter
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
(239) 482-5700
Listed By:
Maxwell Thompson · License #258009817
Source:
Swfloridarealestate
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 29 at 12:27PM
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
Investment Insights
Based on property information with market context.
Built in 2006, this 2,160-square-foot duplex contains two residences, each with 2 bedrooms plus a den, 2 full bathrooms, vaulted ceilings, and open living areas. Tile flooring, private laundry, and a 1-car garage serve each unit. Screened porches and separate 10x12 concrete patios add outdoor space.
Recent improvements include a roof installed in 2023, updated kitchen appliances and a water heater in Unit 1302, a new water softener, and fresh interior paint in Unit 1304. One residence is leased through February 28, 2027, while the other has been updated and is move-in ready. The property is near Del Prado Boulevard and Pine Island Road, with shopping, dining, and everyday services nearby.
Recent improvements include a roof installed in 2023, updated kitchen appliances and a water heater in Unit 1302, a new water softener, and fresh interior paint in Unit 1304. One residence is leased through February 28, 2027, while the other has been updated and is move-in ready. The property is near Del Prado Boulevard and Pine Island Road, with shopping, dining, and everyday services nearby.
Key Highlights
- 2,160‑square‑foot duplex built in 2006
- Each unit includes 2 bedrooms plus a den, 2 full bathrooms, and a 1‑car garage
- New roof installed in 2023
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
$28,590
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
6.73%
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%
$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
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
$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 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%
$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 6.73%
Second Best
Apartment 5plus
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$560.5K
$490.4K – $653.9K
NOI $39,233 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
143
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected residences offer private outdoor areas, in-unit laundry, and convenient access to Del Prado Boulevard and Pine Island Road.
Where is this duplex located?
The property is located at 1302 1302-1304 Ne 16th Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,160‑square‑foot duplex built in 2006; Each unit includes 2 bedrooms plus a den, 2 full bathrooms, and a 1‑car garage; New roof installed in 2023
