Renovated Waterfront Duplex with Gulf
For Sale
$569,000
1326 SE 46th St, Cape Coral, FL 33904
Two private units offer screened patios, interior laundry, and separate entrances near downtown Cape Coral.
Property Size2,246 SF
Price / SF$253.34
Days on Market18
Property Features for 1326 SE 46th St
General Information
Standard status
Active
Size
2,246 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
new appliances
tiled floors
screened patios
inside laundry rooms
concrete dock
circular driveway
lawn care included
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Trust Realty USA, LLC
(786) 815-2965
Listed By:
Ayelet Marcus · License #276810655
Source:
Swfloridarealestate
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 29 at 11:42AM
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 Trust Realty USA, LLC
Investment Insights
Based on property information with market context.
This 2,246-square-foot duplex, built in 1964, contains two separate residences, each with 2 bedrooms and 2 full baths. Both units feature updated appliances, tiled flooring, screened patios, interior laundry rooms, and individual entrances. A brand-new roof was installed in March 2023. The property also includes a concrete dock, circular driveway, additional guest parking, and an expansive backyard suited to outdoor gatherings.
Direct Gulf Access places the property approximately 5 minutes from open water, supporting convenient boating access. The duplex is near downtown Cape Coral, with local dining, shopping, and attractions nearby. Lawn care is included, adding a defined maintenance service for the property.
Direct Gulf Access places the property approximately 5 minutes from open water, supporting convenient boating access. The duplex is near downtown Cape Coral, with local dining, shopping, and attractions nearby. Lawn care is included, adding a defined maintenance service for the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 full baths per side
- Direct Gulf Access approximately 5 minutes from open water
- 2,246 SF property built in 1964
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
5.22%
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 5.22%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,550 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$582.8K
$509.9K – $679.9K
NOI $40,795 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,377
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 - Two private units offer screened patios, interior laundry, and separate entrances near downtown Cape Coral.
Where is this duplex located?
The property is located at 1326 SE 46th St Cape Coral, FL.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 full baths per side; Direct Gulf Access approximately 5 minutes from open water; 2,246 SF property built in 1964
