Renovated Duplex with Private
For Sale
$299,900
1600 & 1610 MORNING DOVE NW LANE, Englewood, FL 34224
Two updated units include separate utility meters, off-street parking, and private shaded patios.
Property Size1,308 SF
Price / SF$229.28
Days on Market515
Property Features for 1600 & 1610 MORNING DOVE NW LANE
General Information
Standard status
Active
Size
1,308 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,852
Building Details
Year Built
1973
Listing Agency:
PARADISE EXCLUSIVE INC
(980) 248-9030
Listed By:
Chereece Wetzler · License #3568175
(980) 248-9030
Source:
Exitrealty
Added: Apr 4, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:08PM
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 PARADISE EXCLUSIVE INC
Investment Insights
Based on property information with market context.
This 1,308-square-foot, single-story duplex contains one two-bedroom, one-bath unit and one one-bedroom, one-bath unit. The concrete block property was renovated in 2019 and includes solid-surface countertops, soft-close cabinets, stainless steel appliances, refreshed bathrooms, and a dedicated laundry room. Each residence has a private shaded patio, while the two-bedroom unit also features newer central A/C. Separate utility metering and off-street parking support distinct unit operations.
Built in 1973, the property is located at 1600 & 1610 Morning Dove NW Lane in Englewood, approximately 3.5 miles from Englewood Beach. The surrounding area provides walkable access to dining, recreation, and medical services. The property has no HOA, and both units have remained smoke- and pet-free since the renovation.
Built in 1973, the property is located at 1600 & 1610 Morning Dove NW Lane in Englewood, approximately 3.5 miles from Englewood Beach. The surrounding area provides walkable access to dining, recreation, and medical services. The property has no HOA, and both units have remained smoke- and pet-free since the renovation.
Key Highlights
- 1,308 SF concrete block duplex with two separate residential units
- Unit mix includes 2BR/1BA and 1BR/1BA layouts
- Renovated in 2019 with updated bathrooms and kitchen finishes
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
$12,653
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
4.22%
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%
$253,060
$253.1K
Cap Rate 7%
$180,757
$180.8K
Cap Rate 9%
$140,589
$140.6K
Market Conditions
NOI Build-Up for 1,308 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
$22.3K $17.04/SF
− Vacancy
−$4.2K −$3.22/SF
EGI
$18.1K $13.82/SF
− OpEx
−$5.4K −$4.15/SF
NOI
$12.7K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$253,060
Cap Rate 7%
$180,757
Cap Rate 9%
$140,589
Alternative Uses
Best Use
Multifamily LT 5
$180.8K
$158.2K – $210.9K
NOI $12,653 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$165.0K
$144.4K – $192.5K
NOI $11,548 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$428.3K
$374.7K – $499.7K
NOI $29,979 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 34224, FL
16,379
Population
11,333
Households
1.4
Avg Household Size
63
Median Age
21%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
1,280
Density / Sq Mi
$56,862
Median Household Income
$34,450
Median Earnings
$1,219
Median Rent
$262,200
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 updated units include separate utility meters, off-street parking, and private shaded patios.
Where is this duplex located?
The property is located at 1600 & 1610 MORNING DOVE NW LANE Englewood, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,308 SF concrete block duplex with two separate residential units; Unit mix includes 2BR/1BA and 1BR/1BA layouts; Renovated in 2019 with updated bathrooms and kitchen finishes
