Updated Corner-Lot
For Sale
$399,900
Pending
1617 Sw 33rd Ter, Cape Coral, FL 33914
Two residential units offer tile flooring, vaulted ceilings, and refreshed interior finishes.
Property Size2,378 SF
Days on Market71
Property Features for 1617 Sw 33rd Ter
General Information
Standard status
Pending
Size
2,378 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2004
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
Source:
Naplesareahomesearch
Added: Jun 23
Changed: Aug 31
Last Checked: Aug 31 at 5:43PM
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 Homecoin.com
Investment Insights
Based on property information with market context.
This Cape Coral duplex contains 2,378 square feet and was built in 2004. The property includes tile flooring throughout, vaulted ceilings, updated kitchen cabinetry with granite countertops, and freshly painted interiors. A roof replacement was completed in 2022, and the HVAC system dates to 2021.
Positioned on a corner lot, the property presents a two-unit residential income configuration with several recent improvements already in place. Its combination of durable flooring, upgraded kitchen finishes, and newer major systems provides a clear physical profile for buyers evaluating a maintained duplex asset.
Positioned on a corner lot, the property presents a two-unit residential income configuration with several recent improvements already in place. Its combination of durable flooring, upgraded kitchen finishes, and newer major systems provides a clear physical profile for buyers evaluating a maintained duplex asset.
Key Highlights
- 2,378‑square‑foot duplex built in 2004
- Located on a corner lot in Cape Coral
- Updated kitchen cabinetry with granite countertops
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
$31,476
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
7.87%
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%
$629,520
$629.5K
Cap Rate 7%
$449,657
$449.7K
Cap Rate 9%
$349,733
$349.7K
Market Conditions
NOI Build-Up for 2,378 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
$47.1K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.0K $18.91/SF
− OpEx
−$13.5K −$5.67/SF
NOI
$31.5K $13.24/SF
Area
Cape Coral, 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%
$629,520
Cap Rate 7%
$449,657
Cap Rate 9%
$349,733
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.6K
NOI $31,476 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$416.7K
$364.6K – $486.2K
NOI $29,169 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$617.0K
$539.9K – $719.9K
NOI $43,192 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 33914, FL
42,222
Population
22,936
Households
1.8
Avg Household Size
52
Median Age
28%
College-Educated
95%
High-School Grad
22.4 sq mi
ZIP Area
1,885
Density / Sq Mi
$75,557
Median Household Income
$41,672
Median Earnings
$1,714
Median Rent
$408,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer tile flooring, vaulted ceilings, and refreshed interior finishes.
Where is this duplex located?
The property is located at 1617 Sw 33rd Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,378‑square‑foot duplex built in 2004; Located on a corner lot in Cape Coral; Updated kitchen cabinetry with granite countertops
