Duplex with Updated
For Sale
$325,000
2184 Lakeville Dr, North Fort Myers, FL 33917
Corner-lot duplex with two leased residences featuring durable flooring and stainless steel kitchen appliances.
Property Size1,344 SF
Price / SF$241.82
Days on Market26
Property Features for 2184 Lakeville Dr
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,300
Taxes and HOA fees
Annual Taxes
$2,482
Building Details
Buildings
1
Listing Agency:
DomainRealty.com LLC
(717) 462-9420
Listed By:
Christyna Stires · License #249529241
(717) 462-9420
Source:
Exprealty
Added: Jul 14
Changed: Aug 7
Last Checked: Aug 7 at 2:28AM
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 DomainRealty.com LLC
Investment Insights
Based on property information with market context.
This duplex at 2184 Lakeville Dr contains two residential units totaling 1,344 square feet. Each unit provides 2 bedrooms, 1 bathroom, and 672 square feet of living area. Both residences have luxury vinyl plank flooring throughout rather than carpet, along with kitchens equipped with stainless steel ranges, hood vents, and refrigerators.
The property sits on a corner lot in North Fort Myers, Florida. Both units are currently rented, providing an established occupancy profile for a multifamily buyer. The address is in the 33917 ZIP code.
The property sits on a corner lot in North Fort Myers, Florida. Both units are currently rented, providing an established occupancy profile for a multifamily buyer. The address is in the 33917 ZIP code.
Key Highlights
- Two‑unit duplex with 1,344 square feet total
- Each unit includes 2 bedrooms, 1 bathroom, and 672 square feet
- Both units are currently rented
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
$17,790
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
5.47%
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%
$355,800
$355.8K
Cap Rate 7%
$254,143
$254.1K
Cap Rate 9%
$197,667
$197.7K
Market Conditions
NOI Build-Up for 1,344 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
$26.6K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.4K $18.91/SF
− OpEx
−$7.6K −$5.67/SF
NOI
$17.8K $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 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%
$355,800
Cap Rate 7%
$254,143
Cap Rate 9%
$197,667
Alternative Uses
Best Use
Multifamily LT 5
$254.1K
$222.4K – $296.5K
NOI $17,790 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$235.5K
$206.1K – $274.8K
NOI $16,486 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$423.0K
$370.1K – $493.5K
NOI $29,611 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 33917, FL
30,702
Population
18,789
Households
1.6
Avg Household Size
61
Median Age
19%
College-Educated
89%
High-School Grad
65.5 sq mi
ZIP Area
469
Density / Sq Mi
$54,198
Median Household Income
$35,670
Median Earnings
$1,320
Median Rent
$170,100
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 - Corner-lot duplex with two leased residences featuring durable flooring and stainless steel kitchen appliances.
Where is this duplex located?
The property is located at 2184 Lakeville Dr North Fort Myers, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,344 square feet total; Each unit includes 2 bedrooms, 1 bathroom, and 672 square feet; Both units are currently rented
