Cape Coral Duplex with Metal
For Sale
$449,000
2306-2308 Ne 16th Ter, Cape Coral, FL 33909
Resident-owned income property with two screened lanais, separate garages, updated systems, and divided vinyl fencing.
Property Size2,385 SF
Price / SF$188.26
Days on Market113
Property Features for 2306-2308 Ne 16th Ter
General Information
Standard status
Active
Size
2,385 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
RE/MAX Realty Team
(239) 560-1423
Listed By:
Judith New · License #258009740
Source:
Napleshomesearches
Added: May 11
Changed: Aug 31
Last Checked: Aug 30 at 6:08PM
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 RE/MAX Realty Team
Investment Insights
Based on property information with market context.
Built in 2003, this 2,385-square-foot duplex includes four bedrooms, four tiled tub/shower bathrooms, two one-car garages with washer and dryer hookups, and two screened lanais under truss. Each side has a great room with three sliders to a 258-square-foot lanai, while the primary suites measure 15 by 16 feet and open to the lanais through double sliders. The property is resident-owned and income-producing, with a 2022 metal roof, rain gutters, solar lighting, and lanai screening.
Recent improvements include 2024 wind-impact replacement windows at the front, 2019 white vinyl fencing with a divider and solar post lighting, a 2018 automatic irrigation system, and 2025 interior updates to the 2306 side. The 2306 kitchen has an almond appliance package, and the property includes updated entry hardware, air-handler UV lights, ROI systems, cleaned ductwork, garage door openers with keypads, and exterior repainting. Located at 2306-2308 NE 16th Ter in Cape Coral.
Recent improvements include 2024 wind-impact replacement windows at the front, 2019 white vinyl fencing with a divider and solar post lighting, a 2018 automatic irrigation system, and 2025 interior updates to the 2306 side. The 2306 kitchen has an almond appliance package, and the property includes updated entry hardware, air-handler UV lights, ROI systems, cleaned ductwork, garage door openers with keypads, and exterior repainting. Located at 2306-2308 NE 16th Ter in Cape Coral.
Key Highlights
- 2,385‑square‑foot duplex built in 2003
- Four bedrooms and four tiled tub/shower bathrooms
- Two one‑car garages with washer and dryer hookups
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
$31,569
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
7.03%
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%
$631,380
$631.4K
Cap Rate 7%
$450,986
$451.0K
Cap Rate 9%
$350,767
$350.8K
Market Conditions
NOI Build-Up for 2,385 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
$47.2K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.1K $18.91/SF
− OpEx
−$13.5K −$5.67/SF
NOI
$31.6K $13.24/SF
Area
Cape Coral, 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%
$631,380
Cap Rate 7%
$450,986
Cap Rate 9%
$350,767
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.2K
NOI $31,569 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$417.9K
$365.7K – $487.6K
NOI $29,255 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$618.8K
$541.5K – $722.0K
NOI $43,319 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Resident-owned income property with two screened lanais, separate garages, updated systems, and divided vinyl fencing.
Where is this duplex located?
The property is located at 2306-2308 Ne 16th Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,385‑square‑foot duplex built in 2003; Four bedrooms and four tiled tub/shower bathrooms; Two one‑car garages with washer and dryer hookups
