Renovated Golf-Course
For Sale
$394,995
3980 Estero Bay Ln, Naples, FL 34112
Residential, Duplex, NAPLES, FL
Property Size1,374 SF
Price / SF$287.48
Days on Market146
Property Features for 3980 Estero Bay Ln
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Family Room, Bathroom 1, Bedroom 1, Laundry Room, Bathroom 2
Parking
1
Parking features
Driveway
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Built-In Cabinets, Closet Cabinets, Smoke Detectors, Window Coverings
Appliances
Dishwasher, Disposal, Dryer, Range, Refrigerator/Freezer, Refrigerator/Icemaker, Washer
Subdivision
LAKEWOOD VILLAS
Lot features
Zero Lot Line, Zero Lot Line
View
Golf Course
Standard status
Active
APN
54051960006
Size
1,374 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKEWOOD UNIT 1, A PORT OF BLK F NKA LAKEWOOD VILLAS I (HO) LOT F-23
Tax Annual Amount
3226
HOA Fee
$2,940 Annually
Legal Description
LAKEWOOD UNIT 1, A PORT OF BLK F NKA LAKEWOOD VILLAS I (HO) LOT F-23
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Downing Frye Realty Inc.
(239) 261-2244
Listed By:
James Kux · License #NAPLES-249518110
(239) 370-1004
Added: Apr 16
Changed: Sep 5
Last Checked: Sep 8 at 10:06AM
MLS# 226015908
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.
This 1,374-square-foot duplex villa includes three bedrooms, two bathrooms, a family room, laundry room, tile flooring, and a patio. The property has undergone extensive updates, including a new kitchen and bathrooms, appliances replaced within the last 2 years, updated flooring, roof, AC, electrical wiring, plumbing, drywall, paint, and insulation. Impact windows and doors are installed, with rear shutters, plus an epoxy-finished garage floor and resurfaced driveway.
The residence sits on The Glades golf course in Lakewood and has a rear position among the villas, with a large backyard and golf-course view. Downtown Naples, beaches, I-75, US 41, shopping, and restaurants are identified as nearby destinations. The building contains two villas.
The residence sits on The Glades golf course in Lakewood and has a rear position among the villas, with a large backyard and golf-course view. Downtown Naples, beaches, I-75, US 41, shopping, and restaurants are identified as nearby destinations. The building contains two villas.
Key Highlights
- 1,374 SF duplex villa with 3 bedrooms and 2 bathrooms
- Extensive updates include kitchen, bathrooms, flooring, roof, AC, wiring, pipes, drywall, paint, and insulation
- Appliances replaced within the last 2 years
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
$20,297
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
5.14%
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%
$405,940
$405.9K
Cap Rate 7%
$289,957
$290.0K
Cap Rate 9%
$225,522
$225.5K
Market Conditions
NOI Build-Up for 1,374 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
$30.5K $22.20/SF
− Vacancy
−$1.5K −$1.10/SF
EGI
$29.0K $21.10/SF
− OpEx
−$8.7K −$6.33/SF
NOI
$20.3K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /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%
$405,940
Cap Rate 7%
$289,957
Cap Rate 9%
$225,522
Alternative Uses
Best Use
Multifamily LT 5
$290.0K
$253.7K – $338.3K
NOI $20,297 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$266.5K
$233.2K – $310.9K
NOI $18,655 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$551.4K
$482.5K – $643.4K
NOI $38,601 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 34112, FL
26,625
Population
20,626
Households
1.3
Avg Household Size
60
Median Age
35%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$68,838
Median Household Income
$34,300
Median Earnings
$1,529
Median Rent
$293,000
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 - Updated villa-style duplex with a private rear setting, patio, driveway, and golf-course outlook.
Where is this duplex located?
The property is located at 3980 Estero Bay Ln Naples, FL.
What is the asking price?
The asking price for this property is $394,995.
What are key features of this property?
This property features: 1,374 SF duplex villa with 3 bedrooms and 2 bathrooms; Extensive updates include kitchen, bathrooms, flooring, roof, AC, wiring, pipes, drywall, paint, and insulation; Appliances replaced within the last 2 years
