Two-Unit Duplex with Screened
For Sale
$324,900
2215 Marilyn Ln, Fort Myers, FL 33905
Two residential units offer practical layouts, dedicated laundry space, and screened outdoor living in the Olga community.
Property Size1,929 SF
Price / SF$168.43
Days on Market12
Property Features for 2215 Marilyn Ln
General Information
Standard status
Active
Size
1,929 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry room
screened-in lanai
Building Details
Year Built
1972
Listing Agency:
West Coast Realty Inc
Listed By:
Tad Miller · License #258003952
(239) 281-6692
Source:
Swfloridarealestate
Added: Sep 13
Changed: Sep 23
Last Checked: Sep 24 at 12:49PM
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 West Coast Realty Inc
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each side configured as a 2-bedroom, 1-bath home. The property offers 1,929 square feet and includes a spacious laundry room along with a screened lanai for additional covered outdoor space. Built in 1972, the layout provides separate living areas and practical everyday functionality for residential occupancy.
Located at 2215 Marilyn Ln in Fort Myers, the property is situated in the Olga community. The surrounding area is described as offering access to nearby shops, dining, and outdoor recreation while maintaining a quieter residential setting.
Located at 2215 Marilyn Ln in Fort Myers, the property is situated in the Olga community. The surrounding area is described as offering access to nearby shops, dining, and outdoor recreation while maintaining a quieter residential setting.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath on each side
- 1,929 square feet of total property size
- Screened lanai provides covered outdoor space
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
$25,533
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
7.86%
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%
$510,660
$510.7K
Cap Rate 7%
$364,757
$364.8K
Cap Rate 9%
$283,700
$283.7K
Market Conditions
NOI Build-Up for 1,929 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
$38.2K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$36.5K $18.91/SF
− OpEx
−$10.9K −$5.67/SF
NOI
$25.5K $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 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%
$510,660
Cap Rate 7%
$364,757
Cap Rate 9%
$283,700
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,533 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$607.1K
$531.3K – $708.3K
NOI $42,500 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
82
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
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 residential units offer practical layouts, dedicated laundry space, and screened outdoor living in the Olga community.
Where is this duplex located?
The property is located at 2215 Marilyn Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath on each side; 1,929 square feet of total property size; Screened lanai provides covered outdoor space
