Renovated Duplex with Heated
For Sale
$495,000
4928/5000 SW 16th Place, Cape Coral, FL 33914
MULTI_FAMILY - Other - Cape Coral, FL
Property Size2,400 SF
Lot Size0.23 Acres
Price / SF$206.25
Days on Market162
Property Features for 4928/5000 SW 16th Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-D
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4
Pets allowed
Yes
Pool private
1
Exterior features
Fence, SprinklerIrrigation
Fencing
Fenced
Subdivision
CAPE CORAL
Lot features
Rectangular Lot, Sprinklers Automatic
Standard status
Active
APN
16-45-23-C2-04633.0400
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 69 BLK 4633 PB 22 PG 47 LOTS 40 + 41
Tax Annual Amount
3552
Legal Description
CAPE CORAL UNIT 69 BLK 4633 PB 22 PG 47 LOTS 40 + 41
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Zoned, Electric, Ceiling Fan(s), Central Air
Water source
Public
Amenities
heated pool
oversized screened lanai
private fenced yard
Building Details
Year built
1983
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Trend
(239) 541-1661
Listed By:
Brian Koonmen · License #258033599
(239) 980-7714
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 18 at 3:06AM
MLS# 2026011492
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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.
Fully renovated duplex offering two 2-bedroom, 2-bath residences and a private heated pool. The property totals 2,400 square feet and sits on a 0.23-acre lot. Construction is block with concrete and stucco exterior finishes, with tile flooring throughout.
The home is served by public water and public sewer and features central electric heat and zoned electric central air conditioning with ceiling fans. Exterior amenities include a fenced yard, sprinkler irrigation, and a large heated pool with an oversized screened lanai.
Built in 1983, the duplex is configured to support flexible occupancy, including use of one unit and rental of the other, or operating both units as income-producing space. Cooling and heating are electric, and the roof is shingle.
The home is served by public water and public sewer and features central electric heat and zoned electric central air conditioning with ceiling fans. Exterior amenities include a fenced yard, sprinkler irrigation, and a large heated pool with an oversized screened lanai.
Built in 1983, the duplex is configured to support flexible occupancy, including use of one unit and rental of the other, or operating both units as income-producing space. Cooling and heating are electric, and the roof is shingle.
Key Highlights
- 0.23‑acre lot with fenced yard and sprinkler irrigation
- 2,400 square feet total across two residences
- Two 2‑bedroom, 2‑bath units
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
$31,767
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
6.42%
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%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,592 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
623
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 - Fully renovated duplex with two 2-bedroom, 2-bath residences and a private heated pool on a fenced lot.
Where is this duplex located?
The property is located at 4928/5000 SW 16th Place Cape Coral, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 0.23‑acre lot with fenced yard and sprinkler irrigation; 2,400 square feet total across two residences; Two 2‑bedroom, 2‑bath units
