Renovated Duplex with
New
For Sale
$279,999
1865/1867 Lafayette St, Fort Myers, FL 33901
Each residence has two bedrooms, one bathroom, and its own covered carport.
Property Size1,344 SF
Price / SF$208.33
Days on Market2
Property Features for 1865/1867 Lafayette St
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family
Building Details
Year Built
1954
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 2:50PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This Fort Myers duplex contains 1,344 square feet of living space across two separate 2-bedroom, 1-bathroom residences. Interior work includes remodeled kitchens and bathrooms, new flooring, fresh paint, and updated light fixtures. The roof is newer; new windows are being installed, with completion planned before closing. New mini-split A/C units are also planned for the right-side residence before closing. Each unit has a covered carport, and the property includes a storage shed.
The duplex occupies a corner lot near Downtown Fort Myers and the River District, with shopping, dining, entertainment, and major roadways also described as nearby. The property is in Flood Zone X and was built in 1954.
The duplex occupies a corner lot near Downtown Fort Myers and the River District, with shopping, dining, entertainment, and major roadways also described as nearby. The property is in Flood Zone X and was built in 1954.
Key Highlights
- Two 2‑bedroom, 1‑bathroom residences totaling 1,344 square feet
- Interior updates include remodeled kitchens and bathrooms, new flooring, paint, and light fixtures
- New windows are being installed, with completion scheduled before closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,790
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,800
$355.8K
Cap Rate 7%
$254,143
$254.1K
Cap Rate 9%
$197,667
$197.7K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$26.6K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.4K $18.91/SF
− OpEx
−$7.6K −$5.67/SF
NOI
$17.8K $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 Rate 5%
$355,800
Cap Rate 7%
$254,143
Cap Rate 9%
$197,667
Alternative Uses
Best Use
Multifamily LT 5
$254.1K
$222.4K – $296.5K
NOI $17,790 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$235.5K
$206.1K – $274.8K
NOI $16,486 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$423.0K
$370.1K – $493.5K
NOI $29,611 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,152
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one bathroom, and its own covered carport.
Where is this duplex located?
The property is located at 1865/1867 Lafayette St Fort Myers, FL.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom residences totaling 1,344 square feet; Interior updates include remodeled kitchens and bathrooms, new flooring, paint, and light fixtures; New windows are being installed, with completion scheduled before closing
