Duplex with Lake
For Sale
$875,000
21671 Indian Bayou DR 673, Fort Myers Beach, FL 33931
Both residences offer private laundry rooms, balconies, and individual carports, with beach access a short walk away.
Property Size2,350 SF
Lot Size0.75 Acres
Price / SF$372.34
Days on Market122
Property Features for 21671 Indian Bayou DR 673
General Information
Standard status
Active
Size
2,350 SF
Lot size
0.75 Acres
Property subtype
Duplex
Additional Details
Furnished
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,995
Amenities
private balcony
private laundry room
carport
lake view
smart TV
ceiling fan
patio furniture
propane fire pit
exterior lighting
storage room
beach gear storage
Building Details
Building Size
2,350 SF
Year Built
1984
Buildings
1
Listing Agency:
Century 21 AllPoints Realty
(239) 850-0061
Listed By:
Michael Hall · License #258015714
(239) 470-3314
Source:
Alfredrobbins
Added: Jun 29
Changed: Oct 26
Last Checked: Oct 26 at 3:17PM
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 Century 21 AllPoints Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,350-square-foot duplex, built in 1984, has two renovated residences with updated kitchens and bathrooms. Each side includes a private balcony, laundry room, and carport. Improvements include a metal roof installed in 2023, new appliances, water heaters, washers and dryers, and air-conditioning units. A first-floor enclosed storage room measures approximately 500 square feet, with an additional 8-by-5-foot room for beach equipment.
The property occupies a 3/4-acre lot with lake views and a deeded 100-by-100-foot section of lake. The beach is a three-minute walk away, and Fort Myers Beach shops, restaurants, music, and entertainment are minutes from the property.
The property occupies a 3/4-acre lot with lake views and a deeded 100-by-100-foot section of lake. The beach is a three-minute walk away, and Fort Myers Beach shops, restaurants, music, and entertainment are minutes from the property.
Key Highlights
- Two renovated residences in a 2,350‑square‑foot duplex
- 3/4‑acre lot with a deeded 100 FT X 100 FT lake area
- Each unit has a private balcony, laundry room, and carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,105
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$622,100
$622.1K
Cap Rate 7%
$444,357
$444.4K
Cap Rate 9%
$345,611
$345.6K
Market Conditions
NOI Build-Up for 2,350 SF
Gross rent
$46.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.4K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$31.1K $13.24/SF
Area
Lee County, 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 Rate 5%
$622,100
Cap Rate 7%
$444,357
Cap Rate 9%
$345,611
Alternative Uses
Best Use
Multifamily LT 5
$444.4K
$388.8K – $518.4K
NOI $31,105 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$411.8K
$360.3K – $480.4K
NOI $28,826 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$739.6K
$647.2K – $862.9K
NOI $51,775 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer private laundry rooms, balconies, and individual carports, with beach access a short walk away.
Where is this duplex located?
The property is located at 21671 Indian Bayou DR 673 Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two renovated residences in a 2,350‑square‑foot duplex; 3/4‑acre lot with a deeded 100 FT X 100 FT lake area; Each unit has a private balcony, laundry room, and carport
