3-Unit Residential Income
For Sale
$390,000
21306 STILLWATER AVENUE, Port Charlotte, FL 33952
Three well-maintained units offer two first-floor 2-bedroom layouts plus a second-floor studio with an assigned parking space.
Property Size2,411 SF
Price / SF$161.76
Days on Market49
Property Features for 21306 STILLWATER AVENUE
General Information
Standard status
Active
Size
2,411 SF
Total Parking Spaces
3
Property subtype
Triplex
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Building Details
Year Built
1970
Stories
2
Tenancy
Multi
Listing Agency:
COLDWELL BANKER SUNSTAR REALTY
(941) 627-3321
Listed By:
Larry Efstathiades · License #3196719
(941) 204-5908
Source:
Dennisrealty
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 6 at 6:19AM
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 COLDWELL BANKER SUNSTAR REALTY
Investment Insights
Based on property information with market context.
This 3-unit residential income property includes two first-floor units and a second-floor studio apartment. Each first-floor unit features 2 bedrooms, a full bath with closet laundry hookups, living and dining areas, and a well-equipped kitchen, along with central air. Both units include a lanai, ample closet space, and a 1-car garage; the left unit has a screened lanai, while the right unit has an enclosed lanai with access to a large concrete patio in the fenced backyard.
The second-floor studio offers a main room with natural light and views from three sides, plus a kitchen with a breakfast bar and generous cabinet space. The studio also includes a walk-in closet, full bath, laminate flooring, and an assigned parking space.
Major updates reported include upgraded electric panels, one water heater replaced in 2025, another replaced in 2022, and a roof replacement in 2022. The property is located in Port Charlotte near hospitals, shopping, dining, and other Charlotte County amenities.
The second-floor studio offers a main room with natural light and views from three sides, plus a kitchen with a breakfast bar and generous cabinet space. The studio also includes a walk-in closet, full bath, laminate flooring, and an assigned parking space.
Major updates reported include upgraded electric panels, one water heater replaced in 2025, another replaced in 2022, and a roof replacement in 2022. The property is located in Port Charlotte near hospitals, shopping, dining, and other Charlotte County amenities.
Key Highlights
- 1970‑built 3‑unit property with two first‑floor 2‑bedroom units and a second‑floor studio
- Central air in each unit; first‑floor units include a full bath with closet laundry hookups
- Updated roof (replaced 2022) plus upgraded electric panels and water heaters replaced in 2025 and 2022
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
$23,323
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
5.98%
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%
$466,460
$466.5K
Cap Rate 7%
$333,186
$333.2K
Cap Rate 9%
$259,144
$259.1K
Market Conditions
NOI Build-Up for 2,411 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
$41.1K $17.04/SF
− Vacancy
−$7.8K −$3.22/SF
EGI
$33.3K $13.82/SF
− OpEx
−$10.0K −$4.15/SF
NOI
$23.3K $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%
$466,460
Cap Rate 7%
$333,186
Cap Rate 9%
$259,144
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.5K – $388.7K
NOI $23,323 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$304.1K
$266.1K – $354.8K
NOI $21,286 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$789.4K
$690.8K – $921.0K
NOI $55,260 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
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?
Triplex - Three well-maintained units offer two first-floor 2-bedroom layouts plus a second-floor studio with an assigned parking space.
Where is this triplex located?
The property is located at 21306 STILLWATER AVENUE Port Charlotte, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1970‑built 3‑unit property with two first‑floor 2‑bedroom units and a second‑floor studio; Central air in each unit; first‑floor units include a full bath with closet laundry hookups; Updated roof (replaced 2022) plus upgraded electric panels and water heaters replaced in 2025 and 2022
