Duplex with Screened
For Sale
$369,000
Pending
5031 Locke LN, Lehigh Acres, FL 33973
Two updated residences feature open kitchens, tile flooring, private outdoor areas, and convenient in-unit laundry hookups.
Property Size2,166 SF
Days on Market549
Property Features for 5031 Locke LN
General Information
Standard status
Pending
Size
2,166 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,626
Amenities
washer/dryer hookups
private backyard
screened-in lanai
tile flooring
open kitchen
Building Details
Building Size
2,166 SF
Year Built
2003
Buildings
1
Listing Agency:
Zivkovic & Associates
Listed By:
Judy Lock Caballero · License #258030636
(239) 896-0184
Source:
Kwelevate
Added: Apr 18, 2025
Changed: Oct 3
Last Checked: Oct 16 at 2:38PM
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 Zivkovic & Associates
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Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains two residences, each with 3 bedrooms and 2 bathrooms. Both units offer an open kitchen arrangement, washer and dryer hookups in the kitchen area, tile flooring, a screened-in lanai, and a private backyard. The property measures 2,166 square feet in total.
Recent improvements include a new roof completed in 2023 and a freshly painted exterior in 2025. The 5029 side received a water heater replacement in 7/2025, while the 5031 side has a new AC system from 3/2025 and a water heater replaced in 8/2026. The property is located at 5031 Locke Ln in Lehigh Acres, Florida 33973.
Recent improvements include a new roof completed in 2023 and a freshly painted exterior in 2025. The 5029 side received a water heater replacement in 7/2025, while the 5031 side has a new AC system from 3/2025 and a water heater replaced in 8/2026. The property is located at 5031 Locke Ln in Lehigh Acres, Florida 33973.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,166 SF duplex built in 2003
- Screened‑in lanai and private backyard for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,670
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,400
$573.4K
Cap Rate 7%
$409,571
$409.6K
Cap Rate 9%
$318,556
$318.6K
Market Conditions
NOI Build-Up for 2,166 SF
Gross rent
$42.9K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$41.0K $18.91/SF
− OpEx
−$12.3K −$5.67/SF
NOI
$28.7K $13.24/SF
Area
Lee County, 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%
$573,400
Cap Rate 7%
$409,571
Cap Rate 9%
$318,556
Alternative Uses
Best Use
Multifamily LT 5
$409.6K
$358.4K – $477.8K
NOI $28,670 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$379.6K
$332.1K – $442.8K
NOI $26,569 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$681.7K
$596.5K – $795.4K
NOI $47,721 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 updated residences feature open kitchens, tile flooring, private outdoor areas, and convenient in-unit laundry hookups.
Where is this duplex located?
The property is located at 5031 Locke LN Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,166 SF duplex built in 2003; Screened‑in lanai and private backyard for each unit
