Updated Duplex with Two-Story
New
For Sale
$299,900
1608/1610 Avalon Place, Fort Myers, FL 33901
Two residential units offer flexible layouts, a garage, and usable outdoor areas near downtown amenities.
Property Size1,530 SF
Price / SF$196.01
Days on Market3
Property Features for 1608/1610 Avalon Place
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Multi-Family
Building Details
Year Built
1939
Listing Agency:
Coastal Realty Swfl
(239) 699-4535
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 5:44AM
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 Coastal Realty Swfl
Investment Insights
Based on property information with market context.
This duplex contains 1,530 square feet across two residential units, with each unit configured as one bedroom plus a den and one bathroom. Recent improvements include kitchen finishes, flooring, and bathroom updates. The property also includes a 19' x 20' garage, a garden area, and a two-story deck that expands the outdoor space.
Located at 1608/1610 Avalon Place in Fort Myers, the property sits between 1st Street and 2nd Street and is approximately a 7-minute walk from the heart of Downtown Fort Myers. Restaurants, shopping, entertainment, events, and other downtown amenities are nearby. Built in 1939, the duplex supports residential occupancy with the flexibility of two separate units.
Located at 1608/1610 Avalon Place in Fort Myers, the property sits between 1st Street and 2nd Street and is approximately a 7-minute walk from the heart of Downtown Fort Myers. Restaurants, shopping, entertainment, events, and other downtown amenities are nearby. Built in 1939, the duplex supports residential occupancy with the flexibility of two separate units.
Key Highlights
- Two‑unit duplex with 1,530 SF total
- Each unit includes 1 bedroom plus a den and 1 bathroom
- 19' x 20' garage, garden area, and two‑story deck
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
$20,252
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
6.75%
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%
$405,040
$405.0K
Cap Rate 7%
$289,314
$289.3K
Cap Rate 9%
$225,022
$225.0K
Market Conditions
NOI Build-Up for 1,530 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
$30.3K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$28.9K $18.91/SF
− OpEx
−$8.7K −$5.67/SF
NOI
$20.3K $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%
$405,040
Cap Rate 7%
$289,314
Cap Rate 9%
$225,022
Alternative Uses
Best Use
Multifamily LT 5
$289.3K
$253.2K – $337.5K
NOI $20,252 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$268.1K
$234.6K – $312.8K
NOI $18,767 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$481.6K
$421.4K – $561.8K
NOI $33,709 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
Explore this area
Business Placement
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
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 residential units offer flexible layouts, a garage, and usable outdoor areas near downtown amenities.
Where is this duplex located?
The property is located at 1608/1610 Avalon Place Fort Myers, 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: Two‑unit duplex with 1,530 SF total; Each unit includes 1 bedroom plus a den and 1 bathroom; 19' x 20' garage, garden area, and two‑story deck
