Duplex with Outdoor
For Sale
$788,000
4623 Sw 9th Ave, Cape Coral, FL 33914
Both residences offer upgraded finishes and private outdoor entertaining areas.
Property Size2,984 SF
Price / SF$264.08
Days on Market159
Property Features for 4623 Sw 9th Ave
General Information
Standard status
Active
Size
2,984 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Amenities
lanai
outdoor kitchen
Building Details
Year Built
2026
Buildings
1
Listing Agency:
LPT Realty, LLC
(239) 888-0290
Listed By:
Laura Vance PA · License #3360812
Source:
Swflhousesforsale
Added: Mar 24
Changed: Aug 28
Last Checked: Aug 28 at 12:18PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 2,984-square-foot duplex, completed in 2026, includes two residences with identical three-bedroom, three-bath layouts. Each side features plank tile flooring, upgraded cabinetry, quartz waterfall countertops, and custom wood trim at the doors, windows, and baseboards. A backflow prevention system serves the property, while epoxy-coated garage floors add a durable finish to the interiors.
Outdoor space is a central feature, with an oversized lanai and dedicated outdoor kitchen serving each residence. The kitchens include granite countertops, and the exterior improvements continue with paver driveways and paver lanais. The property is located in Cape Coral near shopping, dining, and everyday conveniences.
Outdoor space is a central feature, with an oversized lanai and dedicated outdoor kitchen serving each residence. The kitchens include granite countertops, and the exterior improvements continue with paver driveways and paver lanais. The property is located in Cape Coral near shopping, dining, and everyday conveniences.
Key Highlights
- 2,984‑square‑foot duplex completed in 2026
- Each residence has 3 bedrooms and 3 bathrooms
- Quartz waterfall countertops and upgraded kitchen cabinetry
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
$39,497
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
5.01%
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%
$789,940
$789.9K
Cap Rate 7%
$564,243
$564.2K
Cap Rate 9%
$438,856
$438.9K
Market Conditions
NOI Build-Up for 2,984 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
$59.1K $19.80/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$56.4K $18.91/SF
− OpEx
−$16.9K −$5.67/SF
NOI
$39.5K $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%
$789,940
Cap Rate 7%
$564,243
Cap Rate 9%
$438,856
Alternative Uses
Best Use
Multifamily LT 5
$564.2K
$493.7K – $658.3K
NOI $39,497 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$522.9K
$457.5K – $610.0K
NOI $36,602 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$774.3K
$677.5K – $903.3K
NOI $54,199 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
390
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 - Both residences offer upgraded finishes and private outdoor entertaining areas.
Where is this duplex located?
The property is located at 4623 Sw 9th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: 2,984‑square‑foot duplex completed in 2026; Each residence has 3 bedrooms and 3 bathrooms; Quartz waterfall countertops and upgraded kitchen cabinetry
