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    2403/2405 Stella Street, Fort Myers, FL 33901

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    Picture of Single family properties at 2403/2405 Stella Street, Fort Myers, FL
    Pending
    $150,000

    MULTI_FAMILY - Fort Myers, FL

    Lot size:
    0.19 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    67
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 2403/2405 Stella Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Pets allowed
    Yes
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Pending
    APN
    24-44-24-P3-0240D.0050
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOVEJOY VILLA BLK D PB 7 PG 13 LOT 5
    Tax Annual Amount
    5223

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1958
    Flooring type
    Tile
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle

    We can help!

    Listing Contact
    Chris Chatelier

    Listing agent Chris Chatelier License #258019994

    Listing office Emmanuel Realty Corner 1939 Grove Ave, Ft. Myers, FL

    Listing date Apr 1, 2026

    MLS# 2026022895 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

    • Block, concrete, and stucco exterior with shingle roof; built in 1958
    • Central air cooling with electric heating; HVAC systems include central and electric (heating)
    • Tile flooring throughout
    • Public water and public sewer connection
    • Fenced exterior with fencing for added privacy
    • Short sale subject to existing lender approval; property remarks indicate 35% to 45% work needed

    Overview

    2403/2405 Stella Street is a two-unit residential property in Fort Myers, Florida. The sale is being handled as a short sale, and the transaction is subject to existing lender approval.

    Please note that lender approval can result in delays. The listing indicates approximately 35 to 45 percent of work is needed on the property, so condition and renovation planning should be built into any timeline. Showings will need to be scheduled in advance.

    This offering may fit investors or owner-occupants looking for a value-add residential asset with upside through rehabilitation. Given the short sale process and the amount of indicated work, prospective buyers should be prepared for extended timelines and diligence around repair scope before making commitments. If you are evaluating multi-family holdings for long-term rental income or a renovation-driven repositioning, this property can provide an opportunity, with the understanding that lender approval and property condition are active considerations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.863867
    Latitude
    26.628263

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    FAQs

    What type of property is this?
    Single family property - Two-unit residential property offered as a short sale, subject to lender approval and required repair work.
    Where is this single family property located?
    The property is located at 2403/2405 Stella Street Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Block, concrete, and stucco exterior with shingle roof; built in 1958; Central air cooling with electric heating; HVAC systems include central and electric (heating); Tile flooring throughout
    (239) 878-8593
    We can help!
    Listing Contact
    Chris Chatelier
    Real Estate License ID: 258019994
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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