Duplex with New
For Sale
$775,000
13511 Siesta Pines Ct, Fort Myers, FL 33908
Residential Income, 2 Story, FORT MYERS, FL
Property Size3,938 SF
Lot Size0.33 Acres
Price / SF$196.80
Days on Market50
Property Features for 13511 Siesta Pines Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Pets allowed
Yes
Subdivision
SIESTA PINES
Lot features
Cul-De-Sac, Cul-De-Sac
Standard status
Active
APN
02-46-23-06-00000.0090
Size
3,938 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SIESTA PINES PB 34 PG 34 LOT 9
Tax Annual Amount
7534
Legal Description
SIESTA PINES PB 34 PG 34 LOT 9
Utilities
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Building Details
Year built
1993
Floors in Building
2
Number of units
2
Flooring type
Tile, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
William McGreevy, Jr.
(239) 784-6141
Added: Aug 3
Changed: Sep 12
Last Checked: Sep 21 at 11:06AM
MLS# 226028362
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,938-square-foot duplex contains two residential units, each configured with three bedrooms, two bathrooms, and a two-car garage. The property was built in 1993 and features new kitchens and bathrooms, along with tile and vinyl flooring. Wood-frame construction, vinyl siding, a shingle roof, central heating, and central air conditioning complete the existing improvements.
Set on 0.334 acres at 13511 Siesta Pines Ct in Fort Myers, the property carries RM-2 zoning. Sanibal Island is approximately 3 miles away, while Fort Myers Beach is approximately 5.5 miles from the property. The two-unit configuration provides separate residential spaces within one building and includes individual garage capacity for each side.
Set on 0.334 acres at 13511 Siesta Pines Ct in Fort Myers, the property carries RM-2 zoning. Sanibal Island is approximately 3 miles away, while Fort Myers Beach is approximately 5.5 miles from the property. The two-unit configuration provides separate residential spaces within one building and includes individual garage capacity for each side.
Key Highlights
- Two‑unit duplex with 3 bedrooms, 2 bathrooms, and a 2‑car garage per unit
- 3,938 square feet on a 0.334‑acre lot
- New kitchens and bathrooms in both units
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
$52,125
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
6.73%
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%
$1,042,500
$1.0M
Cap Rate 7%
$744,643
$744.6K
Cap Rate 9%
$579,167
$579.2K
Market Conditions
NOI Build-Up for 3,938 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
$78.0K $19.80/SF
− Vacancy
−$3.5K −$0.89/SF
EGI
$74.5K $18.91/SF
− OpEx
−$22.3K −$5.67/SF
NOI
$52.1K $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 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%
$1,042,500
Cap Rate 7%
$744,643
Cap Rate 9%
$579,167
Alternative Uses
Best Use
Multifamily LT 5
$744.6K
$651.6K – $868.8K
NOI $52,125 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$690.1K
$603.8K – $805.1K
NOI $48,304 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,762 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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-story duplex offering separate three-bedroom layouts and attached two-car garages for each unit.
Where is this duplex located?
The property is located at 13511 Siesta Pines Ct Fort Myers, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms, 2 bathrooms, and a 2‑car garage per unit; 3,938 square feet on a 0.334‑acre lot; New kitchens and bathrooms in both units
