524 NE 24th Place Cape Coral, FL 33909
MULTI_FAMILY - Other - Cape Coral, FL
Property Features for 524 NE 24th Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 1
- Pets allowed
- Call
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Pending
- APN
- 09-44-24-C1-01550.0280
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CAPE CORAL UNIT 17 BLK.1550 PB 14 PG 37 LOTS 28 + 29
- Tax Annual Amount
- 7198
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2002
- Number of units
- 2
- Flooring type
- Tile
- Building materials
- Block, Concrete, Stucco
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Julie Millam License #543000857 (239) 898-2558
Listing office Gulf Coast Living Real Estate, Inc 3046 Del Prado Boulevard S, Cape Coral, FL (561) 927-7350
Listing date May 26, 2026
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.
The property is located at 524 NE 24th Place in Cape Coral, Florida (Lee County). It sits on a 0.253-acre lot, with easy access to nearby schools, restaurants, and shopping as described in the remarks.
For buyers looking for a residential income property, this layout supports an on-site rental setup with two distinct living quarters. The combination of updated roofing and HVAC helps reduce near-term building system concerns, while the matching unit design can simplify day-to-day operations. The exterior refresh and recent system replacements provide a practical baseline for maintaining the property moving forward.
Key Highlights
- Duplex with 2 units; each unit has 1,225 sq. ft. with 3 bedrooms and 2 bathrooms
- Roof replaced in 2023
- AC unit replaced in 2022; central air with electric cooling and central electric heat
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.5k | $19.80 |
| − Vacancy | −$2.2k | −$0.89 |
| EGI | $46.3k | $18.91 |
| − OpEx | −$13.9k | −$5.67 |
| NOI | $32.4k | $13.24 |
