Canal-Access Residential Income
For Sale
$220,000
1427 NE 8th Place, Cape Coral, FL 33909
Residential, Cape Coral, FL
Property Size1,128 SF
Lot Size0.12 Acres
Price / SF$195.04
Days on Market53
Property Features for 1427 NE 8th Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RML
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Dining Room, Den, Bedroom 1
Parking features
Garage
Pets allowed
Yes
Interior features
LivingDiningRoom, TubShower, CableTv
Appliances
Freezer, Microwave, Range, Refrigerator
Subdivision
CAPE CORAL
Lot features
Rectangular Lot
Directions
Off Diplomat
Standard status
Active
APN
06-44-24-C1-02069.0150
Size
1,128 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 31 BLK 2069 PB 14 PG 163 LOT 15
Tax Annual Amount
4916
Legal Description
CAPE CORAL UNIT 31 BLK 2069 PB 14 PG 163 LOT 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Water front features
Canal Access
Water front
1
Amenities
dock
Building Details
Year built
2006
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Starlink Realty, Inc
(239) 693-7263
Listed By:
Liz Burris · License #258007443
(239) 910-3090
Added: Jul 21
Changed: Sep 9
Last Checked: Sep 11 at 12:06AM
MLS# 2026031080
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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 1,128-square-foot residential income property is one side of a duplex, with two bedrooms, two bathrooms, a den, living and dining areas, and tile flooring. The den offers additional flexible room use. Roof and A/C were replaced in 2023, and the kitchen includes new appliances along with a range, refrigerator, freezer, and microwave. Block, concrete, and stucco construction, central electric heating, central air, and a garage complete the improvements.
The property occupies 0.115 acres and provides canal access with a dock shared by the occupant of the other duplex side. Public water and public sewer serve the residence. Built in 2006, the home also includes a shingle roof and interior features including cable TV and a tub-shower combination.
The property occupies 0.115 acres and provides canal access with a dock shared by the occupant of the other duplex side. Public water and public sewer serve the residence. Built in 2006, the home also includes a shingle roof and interior features including cable TV and a tub-shower combination.
Key Highlights
- 1,128‑square‑foot duplex‑side residence
- Two bedrooms, two bathrooms, and a den
- Roof and A/C replaced in 2023
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
$13,836
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
6.29%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex-side residence with a 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: 1,128‑square‑foot duplex‑side residence; Two bedrooms, two bathrooms, and a den; Roof and A/C replaced in 2023
