Two-Unit Duplex with New
For Sale
$325,000
1306 SE 40th Terrace, Cape Coral, FL 33904
Matching two-bedroom, two-bath layouts include tiled interiors, equipped kitchens, screened lanais, and paved parking.
Property Size1,896 SF
Price / SF$171.41
Days on Market21
Property Features for 1306 SE 40th Terrace
General Information
Standard status
Active
Size
1,896 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
screened lanai and porch
paved parking
Building Details
Year Built
1964
Listing Agency:
Compass Florida LLC
(239) 464-9929
Listed By:
Mike Darda, Andrew Darda · License #252011670
Source:
Swfloridarealestate
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 29 at 11:38AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This duplex contains two matching residences totaling 1,896 SF, with four bedrooms and four bathrooms overall. Each side provides two bedrooms, two bathrooms, a kitchen with a range, refrigerator, dishwasher, and built-in cabinetry, plus tile flooring throughout. Screened lanais and porches extend the usable living areas. The property received a new roof in March 2026 and was built in 1964.
Located at 1306 SE 40th Terrace in Cape Coral, the property has central water and sewer, paved parking, and an oversized lot with additional outdoor space. Shopping, dining, entertainment, schools, and major roadways are nearby. Bimini Square, The Cove at 47th, Slipaway Marina, and the Yacht Club Community Park redevelopment are also identified in the surrounding SE Cape Coral area.
Located at 1306 SE 40th Terrace in Cape Coral, the property has central water and sewer, paved parking, and an oversized lot with additional outdoor space. Shopping, dining, entertainment, schools, and major roadways are nearby. Bimini Square, The Cove at 47th, Slipaway Marina, and the Yacht Club Community Park redevelopment are also identified in the surrounding SE Cape Coral area.
Key Highlights
- Two‑unit duplex with 4 bedrooms, 4 bathrooms, and 1,896 SF
- Each unit has 2 bedrooms and 2 bathrooms with matching layouts
- New roof installed 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
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
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, two-bath layouts include tiled interiors, equipped kitchens, screened lanais, and paved parking.
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 with 4 bedrooms, 4 bathrooms, and 1,896 SF; Each unit has 2 bedrooms and 2 bathrooms with matching layouts; New roof installed March 2026
