Duplex With New
New
For Sale
$325,000
1306 SE 40th Terrace, Cape Coral, FL 33904
MULTI_FAMILY - Other - Cape Coral, FL
Property Size1,896 SF
Lot Size0.23 Acres
Price / SF$171.41
Days on Market6
Property Features for 1306 SE 40th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RML
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Dining Room, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
Patio and Porch features
Porch, Patio
Pets allowed
Yes
Interior features
BuiltInFeatures, BedroomOnMainLevel, LivingDiningRoom, ShowerOnly, SeparateShower, SplitBedrooms
Exterior features
Patio
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
CAPE CORAL
Lot features
Rectangular Lot
Standard status
Active
APN
07-45-24-C2-00313.0030
Size
1,896 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 7 BLK 313 PB 12 PG 123 LOTS 3 + 4
Tax Annual Amount
5246
Legal Description
CAPE CORAL UNIT 7 BLK 313 PB 12 PG 123 LOTS 3 + 4
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Amenities
screened lanai and porch
Building Details
Year built
1964
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Compass Florida LLC
(239) 268-8976
Listed By:
Mike Darda · License #252000001
(239) 256-3733
Added: Aug 7
Last Checked: Aug 12 at 1:06AM
MLS# 2026032342
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes two matching residences totaling 1,896 square feet, with four bedrooms and four bathrooms overall. Each side provides two bedrooms, two bathrooms, a living and dining area, a kitchen with built-in cabinetry, range, refrigerator, and dishwasher, plus tile flooring throughout. Screened lanais and porches extend the usable space for each unit. The property was built in 1964 and received a new shingle roof in March 2026.
Set on a 0.23-acre lot in SE Cape Coral, the property includes paved parking and additional outdoor area. Both residences are connected to public water and public sewer. Shopping, dining, entertainment, schools, and major roadways are identified nearby, along with South Cape destinations including Bimini Square, The Cove at 47th, Slipaway Marina, and Yacht Club Community Park.
Set on a 0.23-acre lot in SE Cape Coral, the property includes paved parking and additional outdoor area. Both residences are connected to public water and public sewer. Shopping, dining, entertainment, schools, and major roadways are identified nearby, along with South Cape destinations including Bimini Square, The Cove at 47th, Slipaway Marina, and Yacht Club Community Park.
Key Highlights
- Two‑unit duplex totaling 1,896 SF with 4 bedrooms and 4 bathrooms
- Each unit offers a matching 2‑bedroom, 2‑bathroom layout
- New shingle roof installed in March 2026
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
$25,096
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
7.72%
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%
$501,920
$501.9K
Cap Rate 7%
$358,514
$358.5K
Cap Rate 9%
$278,844
$278.8K
Market Conditions
NOI Build-Up for 1,896 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
$37.5K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.9K $18.91/SF
− OpEx
−$10.8K −$5.67/SF
NOI
$25.1K $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%
$501,920
Cap Rate 7%
$358,514
Cap Rate 9%
$278,844
Alternative Uses
Best Use
Multifamily LT 5
$358.5K
$313.7K – $418.3K
NOI $25,096 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$332.2K
$290.7K – $387.6K
NOI $23,257 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,437 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Matching two-bedroom layouts, tile floors, public utilities, and private outdoor areas support practical occupancy.
Where is this duplex located?
The property is located at 1306 SE 40th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,896 SF with 4 bedrooms and 4 bathrooms; Each unit offers a matching 2‑bedroom, 2‑bathroom layout; New shingle roof installed in March 2026
