Well-Maintained Duplex with Southern
2306/2308 NE 16th Terrace, Cape Coral, FL 33909
MULTI_FAMILY - Other - Cape Coral, FL
Property size:
2,385 SFLot size:
0.24 AcresPrice / SF:
$196/SF- Added:
- May 24, 2026
- Days on Market:
- 8
- Last Refresh:
- May 31 at 6:06 am
Property Features for 2306/2308 NE 16th Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 4
- Patio and Porch features
- Patio
- Pets allowed
- Call
- Exterior features
- Fence, SprinklerIrrigation, Patio, Storage
- Fencing
- Fenced
- Standard status
- Active
- APN
- 32-43-24-C3-02221.0030
- Size
- 2,385 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CAPE CORAL UNIT 33 BLK 2221 PB 16 PG 44 LOTS 3 + 4
- Tax Annual Amount
- 5416
Utilities
- Sewer type
- Septic Tank
- Heating system
- Central, Electric (Heating)
- Cooling system
- Ceiling Fan(s), Central Air, Electric
- Water source
- Well
Building Details
- Year built
- 2003
- Number of units
- 2
- Flooring type
- Carpet, Tile
- Building materials
- Block, Concrete, Stucco
- Roof type
- Metal
- Architectural style
- Other
- Additional Structures
- Storage
Listing agent Judith New License #258009740 (239) 560-1423
Listing office RE/MAX Realty Team 2326 Del Prado Blvd, Cape Coral, FL (239) 242-2000
Listing date May 24, 2026
MLS# 2026023272
Listing URL
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- New (2022) metal roof with rain gutter solar lighting and lanai screening.
- Impact windows installed in front (2024).
- Spacious 2385 sq ft duplex with Southern exposure and lanai access from the great room and primary bedroom.
- Resident‑owned duplex.
- Updated features including new carpeting (2025), interior paint (2025), and A/C ductwork cleaning with UV lights and new ROI systems (2025).
- Fenced yard with solar post lighting and irrigation system.
Overview
This well-maintained duplex, built in 2003, features a southern exposure and a total of 2385 square feet. Each unit includes a great room with three sliders leading to a lanai under truss. Each unit also features 4-bedrooms, with primary ensuite's measuring 15X16 and including a double slider to the lanai. Each unit has 4-combo tub/shower baths with new showerheads. The property includes two one-car garages with washer and dryer hookups; the 2308 side has some fixed shelving. Recent upgrades include a 2022 new metal roof with rain gutter solar lighting and lanai screening, steel pads for side trash receptacles, 2024 new front wind impact windows, 2019 white vinyl fencing with divider and solar post lighting, a 2024 water treatment pad/storage canopied, and a 2018 installed irrigation system. Additional features include 2017 new rear rain gutters, a steel dual mailbox, dual house number plates, an exterior repaint, garage door openers with keypad, a front stoned ground area with step pads, painted entry walkway, garage and lanai floors (except the 2306 garage floor), and replaced all new exterior outlet covers, and installed garage door accents. The 2306-side features a newer almond kitchen appliance package. In 2025, the 2306-side bedrooms were newly carpeted, all interior repainted, both sides received all new front entry door lock-hardware, and both sides A/C ductwork was cleaned, deodorized, and added air handler UV lights and new ROI systems. The property is located on a 0.244-acre lot.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.2k | $19.80 |
| − Vacancy | −$2.1k | −$0.89 |
| EGI | $45.1k | $18.91 |
| − OpEx | −$13.5k | −$5.67 |
| NOI | $31.6k | $13.24 |
2,385 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.2K
NOI $31,569 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$417.9K
$365.7K – $487.6K
NOI $29,255 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$618.8K
$541.5K – $722.0K
NOI $43,319 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.926669
- Latitude
- 26.683377
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - A 2003 duplex in Cape Coral with recent upgrades.
Where is this duplex located?
The property is located at 2306/2308 NE 16th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $468,000.
What are key features of this property?
This property features: New (2022) metal roof with rain gutter solar lighting and lanai screening.; Impact windows installed in front (2024).; **Spacious 2385 sq ft duplex** with Southern exposure and lanai access from the great room and primary bedroom.
