Updated Two-Unit
For Sale
$599,000
2656 Mangrove St, Naples, FL 34112
Each unit includes two bedrooms, one bathroom, a kitchen, and a living area with shared laundry access.
Property Size1,500 SF
Price / SF$399.33
Days on Market181
Property Features for 2656 Mangrove St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry room
fenced backyard
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Premiere Plus Realty Company
Listed By:
Debi Giardello
(239) 877-3469
Source:
Napleshomesearches
Added: Mar 5
Changed: Sep 2
Last Checked: Sep 1 at 7:55PM
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 Premiere Plus Realty Company
Investment Insights
Based on property information with market context.
This 1500-square-foot duplex contains two residential units, each arranged with two bedrooms, one bathroom, a kitchen, and a living room. Both units have been updated, and the property was built in 1972.
A shared laundry room provides washer and dryer hookups accessible to both units. The backyard is fully fenced, with separate areas that provide privacy between the residences. The property is located at 2656 Mangrove St in Naples, Florida, on a quiet street.
A shared laundry room provides washer and dryer hookups accessible to both units. The backyard is fully fenced, with separate areas that provide privacy between the residences. The property is located at 2656 Mangrove St in Naples, Florida, on a quiet street.
Key Highlights
- Two‑unit duplex with 1500 square feet
- Each unit offers 2 bedrooms, 1 bathroom, kitchen, and living room
- Both units have been updated
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
$22,158
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
3.70%
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%
$443,160
$443.2K
Cap Rate 7%
$316,543
$316.5K
Cap Rate 9%
$246,200
$246.2K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$31.7K $21.10/SF
− OpEx
−$9.5K −$6.33/SF
NOI
$22.2K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /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%
$443,160
Cap Rate 7%
$316,543
Cap Rate 9%
$246,200
Alternative Uses
Best Use
Multifamily LT 5
$316.5K
$277.0K – $369.3K
NOI $22,158 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$290.9K
$254.6K – $339.4K
NOI $20,366 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$602.0K
$526.8K – $702.4K
NOI $42,141 @ 7.0% cap · market cap 7.04%
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
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 34112, FL
26,625
Population
20,626
Households
1.3
Avg Household Size
60
Median Age
35%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$68,838
Median Household Income
$34,300
Median Earnings
$1,529
Median Rent
$293,000
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 - Each unit includes two bedrooms, one bathroom, a kitchen, and a living area with shared laundry access.
Where is this duplex located?
The property is located at 2656 Mangrove St Naples, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex with 1500 square feet; Each unit offers 2 bedrooms, 1 bathroom, kitchen, and living room; Both units have been updated
