Duplex with Impact
For Sale
$369,000
1905 Oakley Ave A And B, Fort Myers, FL 33901
Corner-lot duplex with separate driveways, private entrances, and washer-dryers serving both residences.
Property Size1,438 SF
Price / SF$256.61
Days on Market45
Property Features for 1905 Oakley Ave A And B
General Information
Standard status
Active
Size
1,438 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$32,400
Amenities
impact windows
screened lanai
washer/dryer
private entrance
driveway
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Keller Williams Realty Fort Myers and the Islands
Listed By:
Denise Chambre · License #258008519
(239) 247-2868
Source:
Swfloridarealestate
Added: Jul 21
Changed: Aug 31
Last Checked: Sep 1 at 9:16PM
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 Keller Williams Realty Fort Myers and the Islands
Investment Insights
Based on property information with market context.
This 1,438-square-foot duplex, built in 1950, offers two separately accessed residences. One unit contains two bedrooms, one bathroom, and a screened lanai; the other provides one bedroom and one bathroom. Each side has its own driveway, and both units include washer-dryers. Impact windows, a 2019 roof, 2019 air-conditioning systems, and water heaters installed in 2020 and 2012 are among the property improvements.
The corner-lot property is positioned just off US 41 and Cleveland Ave., with Unit 1 facing Oakley Ave. and Unit 2 facing Kelly St. Edison Mall is within walking distance. The property is not in a flood zone and has never flooded.
The corner-lot property is positioned just off US 41 and Cleveland Ave., with Unit 1 facing Oakley Ave. and Unit 2 facing Kelly St. Edison Mall is within walking distance. The property is not in a flood zone and has never flooded.
Key Highlights
- 1,438 SF duplex on a corner lot, built in 1950
- Two‑bedroom/one‑bath unit with screened lanai plus one‑bedroom/one‑bath unit
- Impact windows; roof and ACs replaced in 2019
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
$19,034
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
5.16%
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%
$380,680
$380.7K
Cap Rate 7%
$271,914
$271.9K
Cap Rate 9%
$211,489
$211.5K
Market Conditions
NOI Build-Up for 1,438 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
$28.5K $19.80/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$27.2K $18.91/SF
− OpEx
−$8.2K −$5.67/SF
NOI
$19.0K $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%
$380,680
Cap Rate 7%
$271,914
Cap Rate 9%
$211,489
Alternative Uses
Best Use
Multifamily LT 5
$271.9K
$237.9K – $317.2K
NOI $19,034 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$252.0K
$220.5K – $294.0K
NOI $17,639 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,682 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
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
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 - Corner-lot duplex with separate driveways, private entrances, and washer-dryers serving both residences.
Where is this duplex located?
The property is located at 1905 Oakley Ave A And B Fort Myers, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 1,438 SF duplex on a corner lot, built in 1950; Two‑bedroom/one‑bath unit with screened lanai plus one‑bedroom/one‑bath unit; Impact windows; roof and ACs replaced in 2019
