Two-Unit Duplex with Newer
New
For Sale
$409,000
17434 / 17436 E Carnegie Circle #436, Fort Myers, FL 33967
Duplex with separate residences, recent roof and septic improvements, and access to shopping, dining, and major roadways.
Property Size2,170 SF
Lot Size0.48 Acres
Price / SF$188.48
Days on Market4
Property Features for 17434 / 17436 E Carnegie Circle #436
General Information
Standard status
Active
Size
2,170 SF
Lot size
0.48 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1985
Listing Agency:
Mgr Realty Services, Inc.
(239) 491-6201
Listed By:
Ted Stout · License #274500881
(239) 313-8020
Source:
Realmarkrealty
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 22 at 4:30PM
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 Mgr Realty Services, Inc.
Investment Insights
Based on property information with market context.
This duplex contains two residential units on an approximately 20,720-square-foot lot. Constructed in 1985, the property has received several significant updates, including a metal roof installed in 2023 and replacement of the septic drain field in 2020. The air-conditioning system serving 17434 was replaced in 2020, while the system serving 17436 was installed in 2012.
Located in Fort Myers within the 33967 area, the property offers access to shopping, dining, and major roadways. The two-unit layout supports separate residential occupancy and provides a defined multifamily configuration for ownership or rental use.
Located in Fort Myers within the 33967 area, the property offers access to shopping, dining, and major roadways. The two-unit layout supports separate residential occupancy and provides a defined multifamily configuration for ownership or rental use.
Key Highlights
- Two‑unit duplex configuration
- Approximately 20,720‑square‑foot lot
- Metal roof installed 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
$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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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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with separate residences, recent roof and septic improvements, and access to shopping, dining, and major roadways.
Where is this duplex located?
The property is located at 17434 / 17436 E Carnegie Circle #436 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 configuration; Approximately 20,720‑square‑foot lot; Metal roof installed in 2023
