Duplex with Screened
For Sale
$348,900
3004 Santa Barbara Blvd, Cape Coral, FL 33914
Residential Income, Duplex, CAPE CORAL, FL
Property Size2,194 SF
Lot Size0.23 Acres
Price / SF$159.02
Days on Market101
Property Features for 3004 Santa Barbara Blvd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MR
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
CAPE CORAL
Lot features
Regular, Regular
Standard status
Active
APN
35-44-23-C3-01842.0750
Size
2,194 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 45 PART 1 BLK 1842 PB 21 PG 138 LOTS 75 + 76
Tax Annual Amount
5553
Legal Description
CAPE CORAL UNIT 45 PART 1 BLK 1842 PB 21 PG 138 LOTS 75 + 76
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
screened lanai
Building Details
Year built
1980
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Exp Realty LLC
(239) 734-3155
Listed By:
Sandra Schlaupitz, PA
(888) 883-8509
Added: Jun 23
Changed: Sep 14
Last Checked: Oct 1 at 10:06PM
MLS# 226023945
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 3004 Santa Barbara Blvd in Cape Coral, this duplex includes two separate residences, each with 2 bedrooms, 2 full bathrooms, and 1,080 square feet. Both sides offer connected living and kitchen areas, tile flooring, central heating and air conditioning, and screened lanais that extend the usable living space outdoors. The building was constructed in 1980 with concrete block and stucco construction, a shingle roof, and electric systems.
Front parking serves both residences, while the property is not subject to an HOA. Zoning is MR. The 0.23-acre site is positioned near shopping, dining, parks, schools, medical offices, and other daily services, with access to main roads serving Cape Coral and surrounding areas. The layout supports owner occupancy with an additional residence, leasing both units, or other residential arrangements identified for the property.
Front parking serves both residences, while the property is not subject to an HOA. Zoning is MR. The 0.23-acre site is positioned near shopping, dining, parks, schools, medical offices, and other daily services, with access to main roads serving Cape Coral and surrounding areas. The layout supports owner occupancy with an additional residence, leasing both units, or other residential arrangements identified for the property.
Key Highlights
- Duplex with 2 bedrooms and 2 full bathrooms on each side
- Each residence measures 1,080 sq. ft.
- Screened lanai provided for both residences
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
$29,040
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
8.32%
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%
$580,800
$580.8K
Cap Rate 7%
$414,857
$414.9K
Cap Rate 9%
$322,667
$322.7K
Market Conditions
NOI Build-Up for 2,194 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
$43.4K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.5K $18.91/SF
− OpEx
−$12.4K −$5.67/SF
NOI
$29.0K $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%
$580,800
Cap Rate 7%
$414,857
Cap Rate 9%
$322,667
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.0K – $484.0K
NOI $29,040 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$569.3K
$498.1K – $664.2K
NOI $39,850 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences feature private covered outdoor areas, front parking, and no HOA restrictions.
Where is this duplex located?
The property is located at 3004 Santa Barbara Blvd Cape Coral, FL.
What is the asking price?
The asking price for this property is $348,900.
What are key features of this property?
This property features: Duplex with 2 bedrooms and 2 full bathrooms on each side; Each residence measures 1,080 sq. ft.; Screened lanai provided for both residences
