Canal-Backed Duplex with Private
For Sale
$439,999
438/440 Charwood Ave S, Lehigh Acres, FL 33974
New-construction income property with two-bedroom-plus-den layouts and a water-facing setting.
Property Size2,300 SF
Price / SF$191.30
Days on Market190
Property Features for 438/440 Charwood Ave S
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
RE/MAX Realty Group
(239) 209-3490
Listed By:
Christopher Moore · License #258033286
Source:
Napleshomesearcher
Added: Feb 23
Changed: Aug 31
Last Checked: Aug 31 at 5:29PM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This duplex is planned as a modern two-unit property, with each residence offering two bedrooms, a den, high ceilings, and contemporary interior finishes. Separate private garages serve both units, adding dedicated parking and storage to each side. The total property size is 2,300, and the recorded year built is 2026.
Set on a canal-backed lot at 438/440 Charwood Ave S in Lehigh Acres, the property includes water views and a natural backdrop behind the building. Estimated completion is scheduled for March 2026. The two-unit configuration supports separate occupancy while retaining a consistent design across both residences.
Set on a canal-backed lot at 438/440 Charwood Ave S in Lehigh Acres, the property includes water views and a natural backdrop behind the building. Estimated completion is scheduled for March 2026. The two-unit configuration supports separate occupancy while retaining a consistent design across both residences.
Key Highlights
- Duplex configuration with 2 bedrooms plus a den in each unit
- 2,300 property size with YearBuilt 2026
- Private garage provided for each unit
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
$24,473
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
5.56%
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%
$489,460
$489.5K
Cap Rate 7%
$349,614
$349.6K
Cap Rate 9%
$271,922
$271.9K
Market Conditions
NOI Build-Up for 2,300 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
$37.3K $16.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$35.0K $15.20/SF
− OpEx
−$10.5K −$4.56/SF
NOI
$24.5K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$489,460
Cap Rate 7%
$349,614
Cap Rate 9%
$271,922
Alternative Uses
Best Use
Multifamily LT 5
$349.6K
$305.9K – $407.9K
NOI $24,473 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$304.1K
$266.1K – $354.8K
NOI $21,290 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$885.4K
$774.8K – $1.03M
NOI $61,980 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 - New-construction income property with two-bedroom-plus-den layouts and a water-facing setting.
Where is this duplex located?
The property is located at 438/440 Charwood Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $439,999.
What are key features of this property?
This property features: Duplex configuration with 2 bedrooms plus a den in each unit; 2,300 property size with YearBuilt 2026; Private garage provided for each unit
