Two-Unit Duplex with Screened
For Sale
$480,000
1310 Se 40th Ter Unit 1a & 1b, Cape Coral, FL 33904
Two separate residences feature updated kitchens, private outdoor areas, and tile flooring throughout.
Property Size2,246 SF
Price / SF$213.71
Days on Market13
Property Features for 1310 Se 40th Ter Unit 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
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Premiere Plus Realty Company
Listed By:
Aelita Caamano Pena · License #258036296
(239) 841-8014
Source:
Swfloridapropertiesforsale
Added: Aug 29
Changed: Sep 9
Last Checked: Sep 10 at 10:07AM
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 Premiere Plus Realty Company
Investment Insights
Based on property information with market context.
Built in 1964, this 2,246-square-foot duplex contains two 2-bedroom, 2-bath units with separate living areas, tile flooring, screened porches, and private outdoor space. Both kitchens have granite countertops and wood cabinetry. Unit 1A includes an enclosed bonus or great room, in-unit washer and dryer, and flexible additional living space. Unit 1B is tenant occupied under a renewed lease extending through August 31, 2027.
The property is located in SE Cape Coral near shopping, dining, and major roadways. No flood insurance is needed. The configuration supports an owner-occupant arrangement with one unit available for personal use and the other leased, or continued operation as a two-unit rental property.
The property is located in SE Cape Coral near shopping, dining, and major roadways. No flood insurance is needed. The configuration supports an owner-occupant arrangement with one unit available for personal use and the other leased, or continued operation as a two-unit rental property.
Key Highlights
- 2,246‑square‑foot duplex with two 2‑bedroom, 2‑bath units
- Each unit 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
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
752
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature updated kitchens, private outdoor areas, and tile flooring throughout.
Where is this duplex located?
The property is located at 1310 Se 40th Ter Unit 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 unit includes a screened porch and private outdoor area; Updated kitchens feature granite countertops and wood cabinetry
