Move-In Ready
New
For Sale
$399,000
3421/3423 Skyline Blvd, Cape Coral, FL 33914
Two-bedroom, two-bath residences offer private laundry, attached garages, fenced outdoor space, and flexible occupancy options.
Property Size2,504 SF
Price / SF$159.35
Days on Market7
Property Features for 3421/3423 Skyline Blvd
General Information
Standard status
Active
Size
2,504 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Sprinkler System
Yes
Amenities
in-unit laundry
fenced yard
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Premiere Plus Realty Company
Listed By:
Steve Ehlers · License #258016743
(239) 822-4681
Source:
Swfloridahomeguide
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 18 at 7:22AM
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 duplex contains 2,504 square feet of living area, with each side offering 1,252 square feet, two bedrooms, and two bathrooms. Both residences include an in-home laundry area, one-car attached garage, spacious driveway parking, a family room, and formal dining space. The roof was replaced in 2023, the exterior has been repainted, and each side has a separate fenced rear yard. A dividing fence provides additional separation between the units.
The property is located in Cape Coral, approximately 5 minutes from downtown Cape Coral and the Bimini Basin area, and about 10 minutes from Cape Coral Yacht Club Beach. City water and sewer assessments are paid. Additional features include a sprinkler system, sod, landscaping, and X flood-zone designation. There is no HOA or CDD, and a one-year home warranty is included. The configuration supports living in one residence while leasing the other or leasing both sides.
The property is located in Cape Coral, approximately 5 minutes from downtown Cape Coral and the Bimini Basin area, and about 10 minutes from Cape Coral Yacht Club Beach. City water and sewer assessments are paid. Additional features include a sprinkler system, sod, landscaping, and X flood-zone designation. There is no HOA or CDD, and a one-year home warranty is included. The configuration supports living in one residence while leasing the other or leasing both sides.
Key Highlights
- 2,504 SF duplex with 1,252 SF of living area per unit
- Each side includes 2 beds, 2 baths, in‑house laundry, and a 1‑car attached garage
- New roof installed in 2023; exterior re‑painted
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
$33,144
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
8.31%
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%
$662,880
$662.9K
Cap Rate 7%
$473,486
$473.5K
Cap Rate 9%
$368,267
$368.3K
Market Conditions
NOI Build-Up for 2,504 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
$49.6K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$47.3K $18.91/SF
− OpEx
−$14.2K −$5.67/SF
NOI
$33.1K $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%
$662,880
Cap Rate 7%
$473,486
Cap Rate 9%
$368,267
Alternative Uses
Best Use
Multifamily LT 5
$473.5K
$414.3K – $552.4K
NOI $33,144 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$438.8K
$383.9K – $511.9K
NOI $30,715 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$649.7K
$568.5K – $758.0K
NOI $45,481 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
213
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 - Two-bedroom, two-bath residences offer private laundry, attached garages, fenced outdoor space, and flexible occupancy options.
Where is this duplex located?
The property is located at 3421/3423 Skyline Blvd Cape Coral, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,504 SF duplex with 1,252 SF of living area per unit; Each side includes 2 beds, 2 baths, in‑house laundry, and a 1‑car attached garage; New roof installed in 2023; exterior re‑painted
