Oversized Duplex with Screened
New
For Sale
$650,000
3515 SW Santa Barbara Place, Cape Coral, FL 33914
Two well-maintained residences include private garages, separate utility rooms, and flexible bonus space.
Property Size1,800 SF
Price / SF$361.11
Days on Market5
Property Features for 3515 SW Santa Barbara Place
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Financials
Gross Income
$55,200
Average Monthly Rent
$2,300
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
pool
Building Details
Year Built
2002
Buildings
1
Tenancy
Multi
Listing Agency:
Century 21 Allpoints Realty
(239) 415-5881
Listed By:
Ted Stout · License #274500881
(239) 313-8020
Source:
Realmarkrealty
Added: Sep 5
Changed: Sep 8
Last Checked: Sep 8 at 5:12AM
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 Century 21 Allpoints Realty
Investment Insights
Based on property information with market context.
This duplex at 3515 SW Santa Barbara Place in Cape Coral provides two independent residences, each with approximately 1,800 square feet of living area, three bedrooms, two bathrooms, and a private two-car garage. Both sides feature cathedral ceilings, oversized porcelain tile, a bonus room near the kitchen, full appliance packages, and separate utility rooms with washers, dryers, and utility sinks. The building was constructed in 2002 and has been maintained by its original owner.
A screened pool and adjoining outdoor lounge area create a shared amenity for the property. The pool has been recently refinished and tiled and operates on a separate electric meter. Improvements include a 2024 roof with 25-year shingles, interior and exterior painting, irrigated landscaping, and 52-gallon water heaters. Both residences are occupied by long-term tenants. The property sits on an oversized three-lot site and is not in a designated flood zone.
A screened pool and adjoining outdoor lounge area create a shared amenity for the property. The pool has been recently refinished and tiled and operates on a separate electric meter. Improvements include a 2024 roof with 25-year shingles, interior and exterior painting, irrigated landscaping, and 52-gallon water heaters. Both residences are occupied by long-term tenants. The property sits on an oversized three-lot site and is not in a designated flood zone.
Key Highlights
- Two residences, each with approximately 1,800 square feet, 3 bedrooms, 2 bathrooms, and a 2‑car garage
- Screened‑in pool with recently refinished and tiled surface and separate electric meter
- 2024 roof with 25‑year shingles
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
$23,825
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
3.67%
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%
$476,500
$476.5K
Cap Rate 7%
$340,357
$340.4K
Cap Rate 9%
$264,722
$264.7K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$34.0K $18.91/SF
− OpEx
−$10.2K −$5.67/SF
NOI
$23.8K $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%
$476,500
Cap Rate 7%
$340,357
Cap Rate 9%
$264,722
Alternative Uses
Best Use
Multifamily LT 5
$340.4K
$297.8K – $397.1K
NOI $23,825 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$315.4K
$276.0K – $368.0K
NOI $22,079 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$467.1K
$408.7K – $544.9K
NOI $32,694 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
180
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 well-maintained residences include private garages, separate utility rooms, and flexible bonus space.
Where is this duplex located?
The property is located at 3515 SW Santa Barbara Place Cape Coral, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two residences, each with approximately 1,800 square feet, 3 bedrooms, 2 bathrooms, and a 2‑car garage; Screened‑in pool with recently refinished and tiled surface and separate electric meter; 2024 roof with 25‑year shingles
