Updated Duplex
For Sale
$259,900
4276 Island Cir, Fort Myers, FL 33919
Residential, Duplex, FORT MYERS, FL
Property Size1,329 SF
Lot Size0.04 Acres
Price / SF$195.56
Days on Market185
Property Features for 4276 Island Cir
General Information
Property type
Residential
Property subtype
Duplex
Zoning
RS-1
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Den, Laundry Room, Bathroom 1, Bedroom 1, Bedroom 2
Parking
1
Parking features
Carport, Driveway, Guest
Window features
Window Coverings
Patio and Porch features
Patio, Porch
Interior features
Built-In Cabinets, Fireplace, Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Window Coverings
Exterior features
Screened Lanai/Porch
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator/Freezer, Washer
Subdivision
CALOOSA BAYVIEW
Lot features
Regular, Regular
Standard status
Active
APN
16-45-24-20-00A14.00A0
Size
1,329 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CALOOSA BAYVIEW VILLAGE HOMES UNIT 1 OR2327 PG0997 BLDG A14 UNIT A
Tax Annual Amount
2427
HOA Fee
$6,288 Annually
Legal Description
CALOOSA BAYVIEW VILLAGE HOMES UNIT 1 OR2327 PG0997 BLDG A14 UNIT A
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Amenities
community pool
social room
billiards room
washer and dryer
private exterior storage room
fireplace
screened lanai
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Patricia Williams · License #3247673
(239) 738-0581
Added: Mar 1
Changed: Sep 1
Last Checked: Sep 2 at 6:06AM
MLS# 226010500
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 one-story duplex residence at 4276 Island Cir in Fort Myers provides 1,329 square feet on a 0.0399-acre lot. The layout includes two bedrooms, two bathrooms, a den, laundry room, open living and dining areas, and a fireplace. Recent improvements include vinyl flooring, new kitchen cabinetry, quartz countertops, and under-bar lighting. The primary suite has a walk-in closet and en suite bathroom with a garden tub and separate shower, while the second bedroom also includes a walk-in closet.
Exterior features include a screened lanai, porch, patio, fenced area, private storage room, covered carport, driveway, and designated guest parking. The home was built in 1995 and includes a washer, dryer, dishwasher, microwave, range, and refrigerator/freezer. Caloosa Bayview offers a community pool and social and billiards room, with the property located adjacent to Caloosa Bay Yacht and Racquet Club. Zoning is RS-1.
Exterior features include a screened lanai, porch, patio, fenced area, private storage room, covered carport, driveway, and designated guest parking. The home was built in 1995 and includes a washer, dryer, dishwasher, microwave, range, and refrigerator/freezer. Caloosa Bayview offers a community pool and social and billiards room, with the property located adjacent to Caloosa Bay Yacht and Racquet Club. Zoning is RS-1.
Key Highlights
- 1,329‑square‑foot duplex residence on a 0.0399‑acre lot
- Two bedrooms, two bathrooms, den, and laundry room
- Updated kitchen with new cabinetry, quartz countertops, and under‑bar lighting
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
$17,591
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
6.77%
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%
$351,820
$351.8K
Cap Rate 7%
$251,300
$251.3K
Cap Rate 9%
$195,456
$195.5K
Market Conditions
NOI Build-Up for 1,329 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
$26.3K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.1K $18.91/SF
− OpEx
−$7.5K −$5.67/SF
NOI
$17.6K $13.24/SF
Area
Lee County, 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%
$351,820
Cap Rate 7%
$251,300
Cap Rate 9%
$195,456
Alternative Uses
Best Use
Multifamily LT 5
$251.3K
$219.9K – $293.2K
NOI $17,591 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$232.9K
$203.8K – $271.7K
NOI $16,302 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$418.3K
$366.0K – $488.0K
NOI $29,281 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 33919, FL
30,587
Population
19,560
Households
1.6
Avg Household Size
57
Median Age
41%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,516
Density / Sq Mi
$73,336
Median Household Income
$48,686
Median Earnings
$1,621
Median Rent
$291,500
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 - One-story duplex residence with renovated kitchen finishes, screened lanai, carport parking, and community pool access.
Where is this duplex located?
The property is located at 4276 Island Cir Fort Myers, FL.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,329‑square‑foot duplex residence on a 0.0399‑acre lot; Two bedrooms, two bathrooms, den, and laundry room; Updated kitchen with new cabinetry, quartz countertops, and under‑bar lighting
