Renovated Duplex with Two Leased
For Sale
$399,000
511 SE 5th Place A - B, Cape Coral, FL 33990
Updated interiors feature quartz countertops, new appliances, and laundry facilities positioned on the lanai.
Property Size1,796 SF
Price / SF$222.16
Days on Market88
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Property Features for 511 SE 5th Place A - B
General Information
Standard status
Active
Size
1,796 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
laundry
Building Details
Year Built
1981
Year Renovated
2024
Buildings
1
Listing Agency:
Cape Coral Real Estate & RE
Listed By:
Renee Renna · License #258016775
(239) 204-7384
Source:
Swfloridarealestate
Added: Jul 20
Changed: Oct 13
Last Checked: Oct 15 at 1:19AM
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 Cape Coral Real Estate & RE
Investment Insights
Based on property information with market context.
This duplex in Cape Coral contains 1,796 square feet and was built in 1981. Both units are currently rented, and the property received extensive updates in 2024, including refreshed kitchens, replacement appliances, interior and exterior paint, resurfaced tubs, and new water heaters. Unit B also has a newer AC system.
Exterior improvements include a roof, soffit, and fascia installed in 2023. Laundry facilities are located on the lanai, while additional parking spaces support the two-unit configuration. The property also has room for a pool and is not located in a flood zone. The address is 511 SE 5th Pl, Cape Coral, FL 33990.
Exterior improvements include a roof, soffit, and fascia installed in 2023. Laundry facilities are located on the lanai, while additional parking spaces support the two-unit configuration. The property also has room for a pool and is not located in a flood zone. The address is 511 SE 5th Pl, Cape Coral, FL 33990.
Key Highlights
- Duplex totals 1,796 square feet with both units currently rented
- Extensive interior updates completed in 2024
- Roof, soffit, and fascia replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,772
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,440
$475.4K
Cap Rate 7%
$339,600
$339.6K
Cap Rate 9%
$264,133
$264.1K
Market Conditions
NOI Build-Up for 1,796 SF
Gross rent
$35.6K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$34.0K $18.91/SF
− OpEx
−$10.2K −$5.67/SF
NOI
$23.8K $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 Rate 5%
$475,440
Cap Rate 7%
$339,600
Cap Rate 9%
$264,133
Alternative Uses
Best Use
Multifamily LT 5
$339.6K
$297.2K – $396.2K
NOI $23,772 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$466.0K
$407.8K – $543.7K
NOI $32,621 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors feature quartz countertops, new appliances, and laundry facilities positioned on the lanai.
Where is this duplex located?
The property is located at 511 SE 5th Place A - B Cape Coral, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex totals 1,796 square feet with both units currently rented; Extensive interior updates completed in 2024; Roof, soffit, and fascia replaced in 2023
