Turnkey Duplex with Separate
For Sale
$289,000
21299 COULTON AVE, Port Charlotte, FL 33952
Two-bedroom units feature separate utility meters, updated interiors, and a new roof completed in 2026.
Property Size2,104 SF
Lot Size0.20 Acres
Days on Market51
Property Features for 21299 COULTON AVE
General Information
Standard status
Active
Size
2,104 SF
Lot size
0.20 Acres
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,266
Building Details
Building Size
2,104 SF
Year Built
1960
Tenancy
Multi
Listing Agency:
HERITAGE REALTY FL
Listed By:
Harry D'Onofrio · License #3390998
(561) 450-9676
Source:
Nixandassociates
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 8 at 10:13AM
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 HERITAGE REALTY FL
Investment Insights
Based on property information with market context.
This turnkey duplex offers two spacious units, each with 2 bedrooms and 1 bathroom. Each unit includes separate utility meters, and the layout provides flexible additional living space that may be used as a third bedroom, office, or bonus room. Recent improvements include updated kitchens with new appliances, renovated bathrooms, fresh interior paint, and a new roof completed in 2026.
The property sits on an approximately 0.20-acre lot with public water and sewer and no HOA. Public remarks also note there is no designated flood zone. One unit is currently turning over, while the second unit remains leased through August 31, 2026.
With updated finishes, separate utilities, and an established rental term for one side, this duplex is well-suited for investors or an owner-occupant looking for added flexibility.
The property sits on an approximately 0.20-acre lot with public water and sewer and no HOA. Public remarks also note there is no designated flood zone. One unit is currently turning over, while the second unit remains leased through August 31, 2026.
With updated finishes, separate utilities, and an established rental term for one side, this duplex is well-suited for investors or an owner-occupant looking for added flexibility.
Key Highlights
- Duplex built in 1960 with two 2‑bedroom, 1‑bath units
- Separate utility meters for each unit
- Recent upgrades: updated kitchens with new appliances, renovated bathrooms, and fresh interior paint
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
$20,353
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
7.04%
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%
$407,060
$407.1K
Cap Rate 7%
$290,757
$290.8K
Cap Rate 9%
$226,144
$226.1K
Market Conditions
NOI Build-Up for 2,104 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
$35.9K $17.04/SF
− Vacancy
−$6.8K −$3.22/SF
EGI
$29.1K $13.82/SF
− OpEx
−$8.7K −$4.15/SF
NOI
$20.4K $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%
$407,060
Cap Rate 7%
$290,757
Cap Rate 9%
$226,144
Alternative Uses
Best Use
Multifamily LT 5
$290.8K
$254.4K – $339.2K
NOI $20,353 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$688.9K
$602.8K – $803.7K
NOI $48,224 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 33952, FL
32,084
Population
17,682
Households
1.8
Avg Household Size
52
Median Age
20%
College-Educated
88%
High-School Grad
11.0 sq mi
ZIP Area
2,917
Density / Sq Mi
$56,117
Median Household Income
$33,999
Median Earnings
$1,249
Median Rent
$224,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature separate utility meters, updated interiors, and a new roof completed in 2026.
Where is this duplex located?
The property is located at 21299 COULTON AVE Port Charlotte, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Duplex built in 1960 with two 2‑bedroom, 1‑bath units; Separate utility meters for each unit; Recent upgrades: updated kitchens with new appliances, renovated bathrooms, and fresh interior paint
