Newly Built Side-by-Side
For Sale
$430,000
1912/1914 French Street, Fort Myers, FL 33916
ResidentialIncome, Fort Myers, FL
Property Size2,340 SF
Lot Size0.14 Acres
Price / SF$183.76
Days on Market12
Property Features for 1912/1914 French Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-12
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 6, Bedroom 3
Pets allowed
Yes
Subdivision
FAIRDALE
Directions
Positioned near Dr. MLK Jr. Blvd with quick access to downtown Fort Myers, US-41, and the Caloosahatchee River corridor.
Standard status
Active
APN
18-44-25-P3-0320G.0040
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRDALE BLK G PB 8 PG 20 LOTS 4 + 5
Tax Annual Amount
6838
Legal Description
FAIRDALE BLK G PB 8 PG 20 LOTS 4 + 5
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Amenities
fenced lot
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Rebecca Giacobba · License #456511526
(410) 320-4868
Added: Aug 19
Changed: Aug 27
Last Checked: Aug 30 at 7:06PM
MLS# 2026035240
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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.
Completed in 2023, this side-by-side duplex contains two matching residences, each configured with three bedrooms and two bathrooms. The property provides 2,340 square feet of heated living space, with dedicated A/C serving each unit. Block, concrete, and stucco construction, along with tile and vinyl flooring, support a durable, practical design. Both residences follow a ranch-style layout and sit on a fenced 0.1372-acre lot.
The property is served by public water and a septic tank. Additional building features include a shingle roof, central electric cooling, central electric heat, and ceiling fans. The two-unit configuration provides separate residential spaces within one newly constructed property.
The property is served by public water and a septic tank. Additional building features include a shingle roof, central electric cooling, central electric heat, and ceiling fans. The two-unit configuration provides separate residential spaces within one newly constructed property.
Key Highlights
- 2023 construction with 2,340 sq ft of heated living space
- Two identical 3‑bed/2‑bath units in a side‑by‑side configuration
- Dedicated A/C for each unit
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
$30,973
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
7.20%
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%
$619,460
$619.5K
Cap Rate 7%
$442,471
$442.5K
Cap Rate 9%
$344,144
$344.1K
Market Conditions
NOI Build-Up for 2,340 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
$46.3K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.2K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$31.0K $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%
$619,460
Cap Rate 7%
$442,471
Cap Rate 9%
$344,144
Alternative Uses
Best Use
Multifamily LT 5
$442.5K
$387.2K – $516.2K
NOI $30,973 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$736.5K
$644.4K – $859.3K
NOI $51,555 @ 7.0% cap · market cap 11.99%
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
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
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 - Two matching residences offer dedicated air conditioning, durable construction, and a fenced low-maintenance lot.
Where is this duplex located?
The property is located at 1912/1914 French Street Fort Myers, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2023 construction with 2,340 sq ft of heated living space; Two identical 3‑bed/2‑bath units in a side‑by‑side configuration; Dedicated A/C for each unit
