Remodeled Duplex with
For Sale
$315,000
Pending
2208/2210 Iris Way, Fort Myers, FL 33905
Updated two-unit property with current tenants and flexibility for an owner occupant.
Property Size1,474 SF
Days on Market199
Property Features for 2208/2210 Iris Way
General Information
Standard status
Pending
Size
1,474 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Chris Blondin · License #251594418
(239) 877-3497
Source:
Napleshomesearcher
Added: Apr 4
Changed: Oct 1
Last Checked: Oct 19 at 7:26AM
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 Realty
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Investment Insights
Based on property information with market context.
This 1,474-square-foot duplex, built in 1983, has been remodeled with granite countertops, stainless steel appliances, shaker cabinetry, tile flooring, and refreshed bathrooms. One residence includes two bedrooms and one bathroom, a screened lanai, in-unit laundry closet, and backyard access with use of a storage shed. The second offers two bedrooms, two bathrooms, a one-car garage, and a back patio accessed through sliding doors.
Both units are occupied. The lease for 2210 extends through March 31, 2027, while 2208 is leased month-to-month. The property also provides flexibility for an owner occupant to use one unit. Located in Fort Myers near Downtown Fort Myers amenities, shopping, dining, and I-75, the duplex has no HOA.
Both units are occupied. The lease for 2210 extends through March 31, 2027, while 2208 is leased month-to-month. The property also provides flexibility for an owner occupant to use one unit. Located in Fort Myers near Downtown Fort Myers amenities, shopping, dining, and I-75, the duplex has no HOA.
Key Highlights
- 1,474‑square‑foot duplex in Fort Myers, built in 1983
- Two residences with 2‑bedroom layouts; one has 1 bathroom and the other has 2 bathrooms
- Remodeled interiors with granite counters, stainless appliances, shaker cabinetry, and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,510
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,200
$390.2K
Cap Rate 7%
$278,714
$278.7K
Cap Rate 9%
$216,778
$216.8K
Market Conditions
NOI Build-Up for 1,474 SF
Gross rent
$29.2K $19.80/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$27.9K $18.91/SF
− OpEx
−$8.4K −$5.67/SF
NOI
$19.5K $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%
$390,200
Cap Rate 7%
$278,714
Cap Rate 9%
$216,778
Alternative Uses
Best Use
Multifamily LT 5
$278.7K
$243.9K – $325.2K
NOI $19,510 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$258.3K
$226.0K – $301.3K
NOI $18,080 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$463.9K
$405.9K – $541.3K
NOI $32,475 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
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
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with current tenants and flexibility for an owner occupant.
Where is this duplex located?
The property is located at 2208/2210 Iris Way Fort Myers, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,474‑square‑foot duplex in Fort Myers, built in 1983; Two residences with 2‑bedroom layouts; one has 1 bathroom and the other has 2 bathrooms; Remodeled interiors with granite counters, stainless appliances, shaker cabinetry, and tile flooring
