Duplex with Attached
For Sale
$489,900
4934-4932 Viceroy Ct Unit 1-2, Cape Coral, FL 33904
Two leased residences provide separate outdoor areas and individual garage access within a low-rise income property.
Property Size2,416 SF
Price / SF$202.77
Days on Market59
Property Features for 4934-4932 Viceroy Ct Unit 1-2
General Information
Standard status
Active
Size
2,416 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fenced private patio
Building Details
Year Built
2007
Buildings
1
Tenancy
Multi
Listing Agency:
Realty One Group MVP
(239) 771-0525
Listed By:
Jeannette Di Leo · License #N636010
Source:
Naplesareahomesearch
Added: Jul 4
Changed: Aug 28
Last Checked: Aug 30 at 6:01PM
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 Realty One Group MVP
Investment Insights
Based on property information with market context.
This duplex, built in 2007, contains two separate three-bedroom, two-bath residences totaling 2,416 square feet. Each unit has a private attached one-car garage and a fenced rear patio. Both residences are currently rented, and the property has historically maintained occupancy with limited vacancy.
The building received a roof replacement in 2022, and the water heaters are newer. HVAC systems date to 2019 and 2012; the older system remains operational and has been maintained. The property is located in Downtown Cape Coral, with shopping, dining, entertainment, and employment areas described as readily accessible.
The building received a roof replacement in 2022, and the water heaters are newer. HVAC systems date to 2019 and 2012; the older system remains operational and has been maintained. The property is located in Downtown Cape Coral, with shopping, dining, entertainment, and employment areas described as readily accessible.
Key Highlights
- Two 3‑bedroom, 2‑bath units totaling 2,416 square feet
- Private attached one‑car garage for each residence
- Both units are currently rented
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
$31,979
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
6.53%
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%
$639,580
$639.6K
Cap Rate 7%
$456,843
$456.8K
Cap Rate 9%
$355,322
$355.3K
Market Conditions
NOI Build-Up for 2,416 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
$47.8K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$45.7K $18.91/SF
− OpEx
−$13.7K −$5.67/SF
NOI
$32.0K $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%
$639,580
Cap Rate 7%
$456,843
Cap Rate 9%
$355,322
Alternative Uses
Best Use
Multifamily LT 5
$456.8K
$399.7K – $533.0K
NOI $31,979 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$423.4K
$370.4K – $493.9K
NOI $29,635 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$626.9K
$548.5K – $731.4K
NOI $43,882 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
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 - Two leased residences provide separate outdoor areas and individual garage access within a low-rise income property.
Where is this duplex located?
The property is located at 4934-4932 Viceroy Ct Unit 1-2 Cape Coral, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units totaling 2,416 square feet; Private attached one‑car garage for each residence; Both units are currently rented
