Elevated Duplex Near
New
For Sale
$675,000
17284 Whitewater Ct Unit 286, Fort Myers Beach, FL 33931
Two-unit property with a metal roof, covered parking, and recent painting.
Property Size2,230 SF
Price / SF$302.69
Days on Market5
Property Features for 17284 Whitewater Ct Unit 286
General Information
Standard status
Active
Size
2,230 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
covered parking
Building Details
Year Built
2017
Listing Agency:
Knowledge Base Real Estate
Listed By:
Ben Brucker
(239) 445-4053
Source:
Naplesmarcolistings
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 9:51PM
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 Knowledge Base Real Estate
Investment Insights
Based on property information with market context.
Built in 2017, this duplex contains two residential units within 2,230 square feet. The elevated structure features a metal roof and ample covered parking, while recent painting provides a refreshed presentation. The property is identified as income-producing, with the owner currently negotiating lease renewals for both units at increased rates.
The duplex is located near the beach at 17284 Whitewater Ct Unit 286 in Fort Myers Beach, Florida. Its two-unit configuration, established improvements, and covered parking offer a straightforward residential income property format.
The duplex is located near the beach at 17284 Whitewater Ct Unit 286 in Fort Myers Beach, Florida. Its two-unit configuration, established improvements, and covered parking offer a straightforward residential income property format.
Key Highlights
- Two‑unit duplex built in 2017
- 2,230‑square‑foot property near the beach
- Elevated construction with a metal roof
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
$29,517
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
4.37%
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%
$590,340
$590.3K
Cap Rate 7%
$421,671
$421.7K
Cap Rate 9%
$327,967
$328.0K
Market Conditions
NOI Build-Up for 2,230 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
$44.2K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.2K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.5K $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%
$590,340
Cap Rate 7%
$421,671
Cap Rate 9%
$327,967
Alternative Uses
Best Use
Multifamily LT 5
$421.7K
$369.0K – $492.0K
NOI $29,517 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$390.8K
$341.9K – $455.9K
NOI $27,354 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$701.9K
$614.1K – $818.9K
NOI $49,131 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
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-unit property with a metal roof, covered parking, and recent painting.
Where is this duplex located?
The property is located at 17284 Whitewater Ct Unit 286 Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2017; 2,230‑square‑foot property near the beach; Elevated construction with a metal roof
