Waterfront Duplex with Gulf
For Sale
$310,000
3103 Riverside Dr, Punta Gorda, FL 33950
Each residence includes an open-concept living area, screened porch, and private garage.
Property Size1,948 SF
Price / SF$159.14
Days on Market47
Property Features for 3103 Riverside Dr
General Information
Standard status
Active
Size
1,948 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
WATERFRONT
GULF ACCESS CANAL
concrete seawall
Building Details
Year Built
1984
Buildings
1
Listing Agency:
EXP REALTY LLC
(941) 999-0364
Listed By:
Justin Benz · License #3441001
Source:
Whitesandsfl
Added: Jul 17
Changed: Aug 31
Last Checked: Aug 31 at 7:18PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This 1,948-square-foot duplex contains two residences, each offering 2 bedrooms, 2 bathrooms, an open kitchen, dining, and living arrangement, plus a screened and covered porch. Each unit also includes a single-car garage, while separate septic systems support independent operation. Both residences are currently rented.
The property fronts a Gulf-access canal with a concrete seawall and sits minutes from Downtown Punta Gorda. Recent property updates include a new roof, newer A/C units, and refreshed counters and appliances, providing practical improvements for continued residential use.
The property fronts a Gulf-access canal with a concrete seawall and sits minutes from Downtown Punta Gorda. Recent property updates include a new roof, newer A/C units, and refreshed counters and appliances, providing practical improvements for continued residential use.
Key Highlights
- 1,948‑square‑foot duplex with 2 units
- Each unit has 2 bedrooms and 2 bathrooms
- Gulf‑access canal frontage with concrete seawall
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
$18,844
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
6.08%
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%
$376,880
$376.9K
Cap Rate 7%
$269,200
$269.2K
Cap Rate 9%
$209,378
$209.4K
Market Conditions
NOI Build-Up for 1,948 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
$33.2K $17.04/SF
− Vacancy
−$6.3K −$3.22/SF
EGI
$26.9K $13.82/SF
− OpEx
−$8.1K −$4.15/SF
NOI
$18.8K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$376,880
Cap Rate 7%
$269,200
Cap Rate 9%
$209,378
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$245.7K
$215.0K – $286.6K
NOI $17,198 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$637.8K
$558.1K – $744.1K
NOI $44,648 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
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 - Each residence includes an open-concept living area, screened porch, and private garage.
Where is this duplex located?
The property is located at 3103 Riverside Dr Punta Gorda, FL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,948‑square‑foot duplex with 2 units; Each unit has 2 bedrooms and 2 bathrooms; Gulf‑access canal frontage with concrete seawall
