2-Unit Duplex with Screened
New
For Sale
$480,000
1310 SE 40th Terrace #1A & 1B, Cape Coral, FL 33904
Updated side-by-side residences with private outdoor areas, flexible living space, and one unit leased through August 31, 2027.
Property Size2,246 SF
Price / SF$213.71
Days on Market7
Property Features for 1310 SE 40th Terrace #1A & 1B
General Information
Standard status
Active
Size
2,246 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
screened porch
updated kitchen
bonus/great room
in-unit washer and dryer
tile flooring
private outdoor areas
Building Details
Year Built
1964
Listing Agency:
Interinvestments Realty, Inc.
(305) 220-1101
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 6:16AM
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 Interinvestments Realty, Inc.
Investment Insights
Based on property information with market context.
This 2-unit duplex contains two 2-bedroom, 2-bath residences with separate living areas, tile flooring, screened porches, and private outdoor spaces. Both kitchens have granite countertops and wood cabinetry. Unit 1A is move-in ready and includes an enclosed bonus or great room along with an in-unit washer and dryer. Unit 1B is occupied under a renewed lease extending through August 31, 2027.
The property is located in SE Cape Coral near shopping, dining, and major roadways. The building includes 2,246 square feet and was constructed in 1964. No flood insurance is needed.
The property is located in SE Cape Coral near shopping, dining, and major roadways. The building includes 2,246 square feet and was constructed in 1964. No flood insurance is needed.
Key Highlights
- 2,246‑square‑foot duplex with two 2‑bedroom, 2‑bath units
- Each residence includes a screened porch and private outdoor area
- Updated kitchens feature granite countertops and wood cabinetry
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
$29,729
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
6.19%
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%
$594,580
$594.6K
Cap Rate 7%
$424,700
$424.7K
Cap Rate 9%
$330,322
$330.3K
Market Conditions
NOI Build-Up for 2,246 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
$44.5K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.5K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.7K $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%
$594,580
Cap Rate 7%
$424,700
Cap Rate 9%
$330,322
Alternative Uses
Best Use
Multifamily LT 5
$424.7K
$371.6K – $495.5K
NOI $29,729 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,550 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$582.8K
$509.9K – $679.9K
NOI $40,795 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
758
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated side-by-side residences with private outdoor areas, flexible living space, and one unit leased through August 31, 2027.
Where is this duplex located?
The property is located at 1310 SE 40th Terrace #1A & 1B Cape Coral, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,246‑square‑foot duplex with two 2‑bedroom, 2‑bath units; Each residence includes a screened porch and private outdoor area; Updated kitchens feature granite countertops and wood cabinetry
