Two-Unit
For Sale
$409,000
17434 / 17436 E Carnegie Cir, Fort Myers, FL 33967
Residential Income, Duplex, FORT MYERS, FL
Property Size2,170 SF
Lot Size0.48 Acres
Price / SF$188.48
Days on Market16
Property Features for 17434 / 17436 E Carnegie Cir
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 4
Pets allowed
Yes
Subdivision
SAN CARLOS PARK
Standard status
Active
APN
08-46-25-17-00012.0120
Size
2,170 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SAN CARLOS PARK NW ADDN BLK 12 PB 28 PG 13 LOT 12
Tax Annual Amount
4383
Legal Description
SAN CARLOS PARK NW ADDN BLK 12 PB 28 PG 13 LOT 12
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
1985
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Metal
Architectural style
Other
Listing Agency:
Cachon Realty Group. LLC
(239) 298-1991
Listed By:
Lisa Cachon
(239) 272-5329
Added: Sep 18
Changed: Oct 1
Last Checked: Oct 3 at 8:06AM
MLS# 226033101
Copyright © 2026 Naples Area Board of REALTORS. 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 duplex contains two units and was built in 1985. The property occupies 0.476 acres and has RM-2 zoning. Concrete block and stucco construction, tile flooring, central heating and air conditioning, and a metal roof are among its physical features.
The metal roof was installed in 2023, and the septic drain field was replaced in 2020. The air-conditioning system serving 17434 was replaced in 2020; the system serving 17436 dates to 2012. The property is in Fort Myers, Florida.
The metal roof was installed in 2023, and the septic drain field was replaced in 2020. The air-conditioning system serving 17434 was replaced in 2020; the system serving 17436 dates to 2012. The property is in Fort Myers, Florida.
Key Highlights
- Two‑unit duplex on 0.476 acres
- RM‑2 zoning
- Built in 1985 with concrete block and stucco construction
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
$28,723
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
7.02%
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%
$574,460
$574.5K
Cap Rate 7%
$410,329
$410.3K
Cap Rate 9%
$319,144
$319.1K
Market Conditions
NOI Build-Up for 2,170 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
$43.0K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$41.0K $18.91/SF
− OpEx
−$12.3K −$5.67/SF
NOI
$28.7K $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%
$574,460
Cap Rate 7%
$410,329
Cap Rate 9%
$319,144
Alternative Uses
Best Use
Multifamily LT 5
$410.3K
$359.0K – $478.7K
NOI $28,723 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$380.3K
$332.7K – $443.6K
NOI $26,618 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$683.0K
$597.6K – $796.8K
NOI $47,809 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 33967, FL
28,174
Population
11,685
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
92%
High-School Grad
7.6 sq mi
ZIP Area
3,707
Density / Sq Mi
$84,787
Median Household Income
$48,792
Median Earnings
$1,695
Median Rent
$321,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - RM-2 zoning and recent roof and septic improvements complement the established two-residence layout.
Where is this duplex located?
The property is located at 17434 / 17436 E Carnegie Cir Fort Myers, FL.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Two‑unit duplex on 0.476 acres; RM‑2 zoning; Built in 1985 with concrete block and stucco construction
