New Construction
New
For Sale
$319,000
231 Santa Cruz St, North Fort Myers, FL 33903
Each residence offers three bedrooms, two bathrooms, and mini-split air conditioning.
Property Size765 SF
Price / SF$416.99
Days on Market6
Property Features for 231 Santa Cruz St
General Information
Standard status
Active
Size
765 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,361
Building Details
Buildings
1
Listing Agency:
Royal Shell Real Estate, Inc.
(239) 689-7653
Listed By:
Tina Tusack · License #396513991
(239) 634-3810
Source:
Exprealty
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 21 at 2:05AM
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 Royal Shell Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This newly constructed duplex contains two residences, each configured with three bedrooms and two bathrooms. Both sides feature kitchens with granite countertops and modern cabinetry, tiled showers, and mini-split air-conditioning units. The property has never been occupied.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- Newly constructed and never occupied
- Granite countertops and modern cabinetry in the kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,126
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,520
$202.5K
Cap Rate 7%
$144,657
$144.7K
Cap Rate 9%
$112,511
$112.5K
Market Conditions
NOI Build-Up for 765 SF
Gross rent
$15.1K $19.80/SF
− Vacancy
−$682 −$0.89/SF
EGI
$14.5K $18.91/SF
− OpEx
−$4.3K −$5.67/SF
NOI
$10.1K $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%
$202,520
Cap Rate 7%
$144,657
Cap Rate 9%
$112,511
Alternative Uses
Best Use
Multifamily LT 5
$144.7K
$126.6K – $168.8K
NOI $10,126 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$134.1K
$117.3K – $156.4K
NOI $9,384 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$240.8K
$210.7K – $280.9K
NOI $16,854 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
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Business Placement
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, two bathrooms, and mini-split air conditioning.
Where is this duplex located?
The property is located at 231 Santa Cruz St North Fort Myers, FL.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; Newly constructed and never occupied; Granite countertops and modern cabinetry in the kitchens
