Two-Unit Duplex with
For Sale
$395,000
20 W COWLES Street, Englewood, FL 34223
Residential Income, ENGLEWOOD, FL
Property Size1,885 SF
Lot Size0.16 Acres
Price / SF$209.55
Days on Market17
Property Features for 20 W COWLES Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
CG
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s)
Exterior features
Outbuildings, Lighting, Sidewalk
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
GOULDS ADD
Lot features
Paved
Elementary school
Englewood Elementary
Middle school
L.A. Ainger Middle
High school
Lemon Bay High
Directions
SR776 to West on W. Cowles Street, home is on the right.
Standard status
Active
APN
0503080051
Size
1,885 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 20 BLK 2 GOULDS ADD SUB OF LOT 92 PLAT OF ENGLEWOOD
Tax Annual Amount
3813
Legal Description
LOT 20 BLK 2 GOULDS ADD SUB OF LOT 92 PLAT OF ENGLEWOOD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
individual washer and dryer units
detached storage shed
private screen-enclosed lanai
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Additional Structures
Outbuilding
Listing Agency:
KELLER WILLIAMS ISLAND LIFE REAL ESTATE · Keller Williams Realty
(941) 254-6467
Listed By:
Amy Nowicki
(231) 301-4907
Added: Aug 25
Changed: Sep 10
Last Checked: Sep 10 at 10:06PM
MLS# D6148532
Copyright © 2026 Stellar MLS. 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 1,885-square-foot block duplex contains two distinct residences on a 0.16-acre parcel. Unit A offers two bedrooms and one bathroom, while Unit B provides two bedrooms and two bathrooms. Both interiors feature open layouts, tile flooring, ceiling fans, and individual washers and dryers. A screened lanai, detached storage shed, asphalt driveway, sidewalks, and a shingle roof replaced in 2008 add practical functionality. Public water and public sewer serve the property, which carries CG zoning.
The property is 0.4 miles from a supermarket and 2.9 miles from Englewood Beach and Manasota Key. Lemon Bay public boat ramps, Dearborn Street, local dining, art galleries, farmers markets, and Pioneer Park are also identified nearby. The two-unit configuration supports separate leasing or an owner-occupant arrangement with one residence retained for personal use.
The property is 0.4 miles from a supermarket and 2.9 miles from Englewood Beach and Manasota Key. Lemon Bay public boat ramps, Dearborn Street, local dining, art galleries, farmers markets, and Pioneer Park are also identified nearby. The two-unit configuration supports separate leasing or an owner-occupant arrangement with one residence retained for personal use.
Key Highlights
- Two‑unit duplex totaling 1,885 square feet
- 0.16‑acre parcel with CG zoning
- Unit A: 2 bedrooms and 1 bathroom; Unit B: 2 bedrooms and 2 bathrooms
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
$18,235
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
4.62%
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%
$364,700
$364.7K
Cap Rate 7%
$260,500
$260.5K
Cap Rate 9%
$202,611
$202.6K
Market Conditions
NOI Build-Up for 1,885 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
$32.1K $17.04/SF
− Vacancy
−$6.1K −$3.22/SF
EGI
$26.0K $13.82/SF
− OpEx
−$7.8K −$4.15/SF
NOI
$18.2K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$364,700
Cap Rate 7%
$260,500
Cap Rate 9%
$202,611
Alternative Uses
Best Use
Multifamily LT 5
$260.5K
$227.9K – $303.9K
NOI $18,235 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$237.7K
$208.0K – $277.4K
NOI $16,642 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$617.2K
$540.1K – $720.1K
NOI $43,204 @ 7.0% cap · market cap 10.94%
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
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
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 - Block duplex with separate laundry, screened outdoor space, public utilities, and a flexible two-unit floor plan.
Where is this duplex located?
The property is located at 20 W COWLES Street Englewood, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,885 square feet; 0.16‑acre parcel with CG zoning; Unit A: 2 bedrooms and 1 bathroom; Unit B: 2 bedrooms and 2 bathrooms
