Duplex with Screened
For Sale
$349,500
30 Se 24th Ave, Cape Coral, FL 33990
Two-bedroom units include screened outdoor lanais and washer and dryer hookups.
Property Size1,872 SF
Price / SF$186.70
Days on Market125
Property Features for 30 Se 24th Ave
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
screened lanai
washer & dryer hook-up
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Just Right Realty Company
(732) 915-5592
Listed By:
Ken Bruno · License #258023969
Source:
Napleshomesearches
Added: Apr 29
Changed: Aug 29
Last Checked: Aug 30 at 6:18PM
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 Just Right Realty Company
Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex, built in 1984, contains two units with two bedrooms and two bathrooms on each side. Both units feature screened lanais, washer and dryer hookups, tile flooring throughout most of the living areas, and laminate flooring in the bedrooms installed in 2018.
The roof and right-side AC system were replaced in 2023, and the right unit was recently repainted gray. The property is in a low-risk flood zone and had no storm surge damage during Hurricane Ian. Convenient access to Fort Myers places the duplex near shopping, dining, and other services. The left-side tenant handles yard care for both sides, and the layout supports occupying one unit while renting the other.
The roof and right-side AC system were replaced in 2023, and the right unit was recently repainted gray. The property is in a low-risk flood zone and had no storm surge damage during Hurricane Ian. Convenient access to Fort Myers places the duplex near shopping, dining, and other services. The left-side tenant handles yard care for both sides, and the layout supports occupying one unit while renting the other.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms per side
- 1,872 SF building constructed in 1984
- Screened lanai included with each unit
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
$24,778
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
7.09%
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%
$495,560
$495.6K
Cap Rate 7%
$353,971
$354.0K
Cap Rate 9%
$275,311
$275.3K
Market Conditions
NOI Build-Up for 1,872 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
$37.1K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.4K $18.91/SF
− OpEx
−$10.6K −$5.67/SF
NOI
$24.8K $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%
$495,560
Cap Rate 7%
$353,971
Cap Rate 9%
$275,311
Alternative Uses
Best Use
Multifamily LT 5
$354.0K
$309.7K – $413.0K
NOI $24,778 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$328.0K
$287.0K – $382.7K
NOI $22,962 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$485.7K
$425.0K – $566.7K
NOI $34,002 @ 7.0% cap · market cap 9.73%
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
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
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 - Two-bedroom units include screened outdoor lanais and washer and dryer hookups.
Where is this duplex located?
The property is located at 30 Se 24th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms per side; 1,872 SF building constructed in 1984; Screened lanai included with each unit
