Updated Duplex with Two-Bedroom
For Sale
$449,000
2912 /2914 Santa Barbara Boulevard, Cape Coral, FL 33914
Each residence offers a two-bedroom, two-bath layout with separate laundry and refreshed interior finishes.
Property Size2,092 SF
Price / SF$214.63
Days on Market22
Property Features for 2912 /2914 Santa Barbara Boulevard
General Information
Standard status
Active
Size
2,092 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
in-unit washer/dryer
Building Details
Year Built
2002
Listing Agency:
The Agency Northwest Florida
(239) 994-7271
Listed By:
Alison Gesuele · License #631103408
Source:
Swfloridarealestate
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 The Agency Northwest Florida
Investment Insights
Based on property information with market context.
This duplex, built in 2002, contains two similarly configured residences with a combined 4 bedrooms, 4 bathrooms, and 2,092 square feet of living space. Each side features two bedrooms and two bathrooms, along with its own designated washer and dryer. Recent improvements include a 2022 roof, new flooring, updated kitchen cabinets, and stainless steel appliances.
The property is situated in Cape Coral near shopping, dining, entertainment, and everyday services. Major roads and public transportation are accessible from the property, supporting convenient daily travel. The two-unit arrangement accommodates long-term residential occupancy or an owner-occupant setup with a separate residence on site.
The property is situated in Cape Coral near shopping, dining, entertainment, and everyday services. Major roads and public transportation are accessible from the property, supporting convenient daily travel. The two-unit arrangement accommodates long-term residential occupancy or an owner-occupant setup with a separate residence on site.
Key Highlights
- 2,092 sq. ft. of total living space with 4 bedrooms and 4 bathrooms
- Two units, each with a 2BR/2 Baths layout
- 2022 roof
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
$27,690
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
6.17%
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%
$553,800
$553.8K
Cap Rate 7%
$395,571
$395.6K
Cap Rate 9%
$307,667
$307.7K
Market Conditions
NOI Build-Up for 2,092 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
$41.4K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$39.6K $18.91/SF
− OpEx
−$11.9K −$5.67/SF
NOI
$27.7K $13.24/SF
Area
Cape Coral, 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%
$553,800
Cap Rate 7%
$395,571
Cap Rate 9%
$307,667
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.1K – $461.5K
NOI $27,690 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$366.6K
$320.8K – $427.7K
NOI $25,661 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$542.8K
$475.0K – $633.3K
NOI $37,997 @ 7.0% cap · market cap 8.46%
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
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 33914, FL
42,222
Population
22,936
Households
1.8
Avg Household Size
52
Median Age
28%
College-Educated
95%
High-School Grad
22.4 sq mi
ZIP Area
1,885
Density / Sq Mi
$75,557
Median Household Income
$41,672
Median Earnings
$1,714
Median Rent
$408,800
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 - Each residence offers a two-bedroom, two-bath layout with separate laundry and refreshed interior finishes.
Where is this duplex located?
The property is located at 2912 /2914 Santa Barbara Boulevard Cape Coral, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,092 sq. ft. of total living space with 4 bedrooms and 4 bathrooms; Two units, each with a 2BR/2 Baths layout; 2022 roof
