Waterfront Residential Income
For Sale
$220,000
1427 NE 8th Place, Cape Coral, FL 33909
Waterfront duplex unit with a flexible den, updated major systems, and shared dock access.
Property Size1,128 SF
Price / SF$195.04
Days on Market89
Property Features for 1427 NE 8th Place
General Information
Standard status
Active
Size
1,128 SF
Property subtype
Townhouse
Building Details
Year Built
2006
Listing Agency:
Southern Heritage Real Estate
(863) 675-4500
Listed By:
Ted Stout · License #274500881
(239) 313-8020
Source:
Realmarkrealty
Added: Jul 23
Changed: Oct 16
Last Checked: Oct 19 at 7:29AM
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 Southern Heritage Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This waterfront residential income property is one side of a duplex, offering 1,128 square feet with two bedrooms, two bathrooms, and a den that can function as a third bedroom. The home was built in 2006 and includes new kitchen appliances. The roof and air-conditioning system were replaced in 2023.
The property is located at 1427 NE 8th Place in Cape Coral, Florida. Dock access is shared with the occupant of the adjoining duplex unit. Property division is established according to LEEPA.
The property is located at 1427 NE 8th Place in Cape Coral, Florida. Dock access is shared with the occupant of the adjoining duplex unit. Property division is established according to LEEPA.
Key Highlights
- Waterfront duplex unit with 1,128 square feet
- Two bedrooms, two bathrooms, and a den usable as a third bedroom
- Roof and A/C replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,836
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,720
$276.7K
Cap Rate 7%
$197,657
$197.7K
Cap Rate 9%
$153,733
$153.7K
Market Conditions
NOI Build-Up for 1,128 SF
Gross rent
$26.3K $23.28/SF
− Vacancy
−$1.1K −$0.98/SF
EGI
$25.2K $22.30/SF
− OpEx
−$11.3K −$10.04/SF
NOI
$13.8K $12.27/SF
Area
Cape Coral, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,720
Cap Rate 7%
$197,657
Cap Rate 9%
$153,733
Alternative Uses
Best Use
Apartment 5plus
$197.7K
$173.0K – $230.6K
NOI $13,836 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$292.7K
$256.1K – $341.5K
NOI $20,488 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Waterfront duplex unit with a flexible den, updated major systems, and shared dock access.
Where is this residential income property located?
The property is located at 1427 NE 8th Place Cape Coral, FL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Waterfront duplex unit with 1,128 square feet; Two bedrooms, two bathrooms, and a den usable as a third bedroom; Roof and A/C replaced in 2023
