Three-Bedroom Duplex With
For Sale
$475,900
211/213 Se 24th Ave, Cape Coral, FL 33990
Each residence includes private laundry, a screened porch, vaulted ceilings, and a garage.
Property Size2,824 SF
Price / SF$168.52
Days on Market43
Property Features for 211/213 Se 24th Ave
General Information
Standard status
Active
Size
2,824 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private laundry
screened porches
private patio
Building Details
Year Built
2005
Listing Agency:
Best Deals Realty LLC
(239) 693-7263
Listed By:
Ailyn Betancourt · License #258025619
Source:
Napleshomesearches
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 30 at 6:01PM
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 Best Deals Realty LLC
Investment Insights
Based on property information with market context.
This duplex includes two residences within a 2824 SF property built in 2005. Each unit offers three bedrooms, two full bathrooms, vaulted ceilings, an open-concept living area, tile flooring throughout, private laundry, and a one-car garage. Screened porches and private patios provide additional outdoor areas for each residence.
Recent improvements include a new roof completed in 2023 and new A/C installed in 2025. The property is located at 211/213 SE 24th Ave in Cape Coral, Florida, with the configuration and individual amenities supporting separate residential living spaces.
Recent improvements include a new roof completed in 2023 and new A/C installed in 2025. The property is located at 211/213 SE 24th Ave in Cape Coral, Florida, with the configuration and individual amenities supporting separate residential living spaces.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full baths in each unit
- 2824 SF property built in 2005
- New roof completed 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
$37,379
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
7.85%
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%
$747,580
$747.6K
Cap Rate 7%
$533,986
$534.0K
Cap Rate 9%
$415,322
$415.3K
Market Conditions
NOI Build-Up for 2,824 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
$55.9K $19.80/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$53.4K $18.91/SF
− OpEx
−$16.0K −$5.67/SF
NOI
$37.4K $13.24/SF
Area
Cape Coral, 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%
$747,580
Cap Rate 7%
$533,986
Cap Rate 9%
$415,322
Alternative Uses
Best Use
Multifamily LT 5
$534.0K
$467.2K – $623.0K
NOI $37,379 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$494.9K
$433.0K – $577.3K
NOI $34,640 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$732.8K
$641.2K – $854.9K
NOI $51,293 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
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 - Each residence includes private laundry, a screened porch, vaulted ceilings, and a garage.
Where is this duplex located?
The property is located at 211/213 Se 24th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $475,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full baths in each unit; 2824 SF property built in 2005; New roof completed in 2023
