Updated 3-Bedroom
For Sale
$385,000
2424-2426 Ted Ave S, Lehigh Acres, FL 33973
Income-producing residential property with two three-bedroom units, private garages, tile flooring, and recent exterior improvements.
Property Size2,228 SF
Price / SF$172.80
Days on Market207
Property Features for 2424-2426 Ted Ave S
General Information
Standard status
Active
Size
2,228 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Sellstate 5 Star Realty
(716) 801-5898
Listed By:
Guang Lin · License #258036236
Source:
Napleshomesearches
Added: Feb 5
Changed: Aug 31
Last Checked: Aug 31 at 5:33PM
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 Sellstate 5 Star Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,228 square feet and was built in 2006. Each side offers three bedrooms, two bathrooms, tile flooring throughout, and a one-car garage, creating a consistent configuration across both residences. The exterior has been freshly painted, and a new roof was installed in 2025.
The property is located in a quiet residential area of Lehigh Acres at 2424-2426 Ted Ave S. Schools, shopping, and major roadways are within minutes, providing convenient access to everyday services and transportation routes. The two-unit layout supports an income-producing residential use and may also suit an owner-occupant arrangement with a separate unit on site.
The property is located in a quiet residential area of Lehigh Acres at 2424-2426 Ted Ave S. Schools, shopping, and major roadways are within minutes, providing convenient access to everyday services and transportation routes. The two-unit layout supports an income-producing residential use and may also suit an owner-occupant arrangement with a separate unit on site.
Key Highlights
- Duplex with 2,228 square feet, built in 2006
- Two units, each with 3 bedrooms and 2 bathrooms
- Each unit includes a 1‑car garage
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
$29,490
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
7.66%
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%
$589,800
$589.8K
Cap Rate 7%
$421,286
$421.3K
Cap Rate 9%
$327,667
$327.7K
Market Conditions
NOI Build-Up for 2,228 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
$44.1K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.1K $18.91/SF
− OpEx
−$12.6K −$5.67/SF
NOI
$29.5K $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%
$589,800
Cap Rate 7%
$421,286
Cap Rate 9%
$327,667
Alternative Uses
Best Use
Multifamily LT 5
$421.3K
$368.6K – $491.5K
NOI $29,490 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,329 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$701.2K
$613.6K – $818.1K
NOI $49,087 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 - Income-producing residential property with two three-bedroom units, private garages, tile flooring, and recent exterior improvements.
Where is this duplex located?
The property is located at 2424-2426 Ted Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex with 2,228 square feet, built in 2006; Two units, each with 3 bedrooms and 2 bathrooms; Each unit includes a 1‑car garage
