Updated Duplex with
New
For Sale
$475,900
211 211/213 Se 24th Ave, Cape Coral, FL 33990
Two residential units feature open-concept layouts, private laundry, screened porches, and individual garages.
Property Size2,824 SF
Price / SF$168.52
Days on Market4
Property Features for 211 211/213 Se 24th Ave
General Information
Standard status
Active
Size
2,824 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
vaulted ceilings
open-concept living
tile flooring throughout
private laundry
screened porches
private patio
Building Details
Year Built
2005
Listing Agency:
Best Deals Realty LLC
Listed By:
Ailyn Betancourt · License #258025619
(239) 693-7263
Source:
Swfloridarealestate
Added: Sep 15
Last Checked: Sep 18 at 1:32PM
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 2,824-square-foot duplex, built in 2005, contains two residential units with matching layouts. Each unit includes three bedrooms, two full bathrooms, vaulted ceilings, an open-concept living area, tile flooring, private laundry, and a one-car garage. Screened porches and a private patio provide additional outdoor space.
Recent property improvements include a roof installed in 2023 and new air-conditioning systems installed in 2025. The duplex is located at 211/213 SE 24th Ave in Cape Coral, Florida, and offers a clearly defined two-unit configuration with dedicated residential features for each side.
Recent property improvements include a roof installed in 2023 and new air-conditioning systems installed in 2025. The duplex is located at 211/213 SE 24th Ave in Cape Coral, Florida, and offers a clearly defined two-unit configuration with dedicated residential features for each side.
Key Highlights
- Two‑unit duplex totaling 2,824 square feet
- Each unit includes 3 bedrooms and 2 full baths
- One‑car garage, private laundry, and screened porch per 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
$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
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Open 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
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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 - Two residential units feature open-concept layouts, private laundry, screened porches, and individual garages.
Where is this duplex located?
The property is located at 211 211/213 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 totaling 2,824 square feet; Each unit includes 3 bedrooms and 2 full baths; One‑car garage, private laundry, and screened porch per unit
