Two-Unit
New
For Sale
$499,900
5317 Fleming St, Naples, FL 34113
Residential Income, Duplex, NAPLES, FL
Property Size1,272 SF
Lot Size0.20 Acres
Price / SF$393
Days on Market2
Property Features for 5317 Fleming St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
8
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4
Pets allowed
Yes
Subdivision
NAPLES MANOR LAKES
Standard status
Active
APN
62255560003
Size
1,272 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NAPLES MANOR LAKES BLK 7 LOT 10
Tax Annual Amount
3719
Legal Description
NAPLES MANOR LAKES BLK 7 LOT 10
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
1972
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
eXp Realty LLC
(888) 883-8509
Listed By:
Mercy Uribe
(239) 398-5190
Added: Oct 2
Last Checked: Oct 3 at 12:06AM
MLS# 226035653
Copyright © 2026 Naples Area Board of REALTORS. 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.
This 1972-built duplex contains 1,272 square feet across two separate units, each arranged with two bedrooms and one bathroom. The building has concrete-block and stucco construction, tile flooring, central electric heating, central air conditioning, and a shingle roof. The property occupies 0.2 acres and is zoned 8.
Situated in South Naples, the duplex is near Parkside Elementary School, Publix, shopping, and dining. Coastland Center, downtown Naples, and Gulf beaches are a short drive away.
Both units are rented. One tenancy is month-to-month, while the other lease terms are not specified.
Situated in South Naples, the duplex is near Parkside Elementary School, Publix, shopping, and dining. Coastland Center, downtown Naples, and Gulf beaches are a short drive away.
Both units are rented. One tenancy is month-to-month, while the other lease terms are not specified.
Key Highlights
- Two separate units, each with 2 bedrooms and 1 bathroom
- 1,272 square feet on a 0.2‑acre lot
- Built in 1972 with concrete‑block and stucco construction
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
$18,790
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
3.76%
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%
$375,800
$375.8K
Cap Rate 7%
$268,429
$268.4K
Cap Rate 9%
$208,778
$208.8K
Market Conditions
NOI Build-Up for 1,272 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
$28.2K $22.20/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$26.8K $21.10/SF
− OpEx
−$8.1K −$6.33/SF
NOI
$18.8K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /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%
$375,800
Cap Rate 7%
$268,429
Cap Rate 9%
$208,778
Alternative Uses
Best Use
Multifamily LT 5
$268.4K
$234.9K – $313.2K
NOI $18,790 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$246.7K
$215.9K – $287.8K
NOI $17,270 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$510.5K
$446.7K – $595.6K
NOI $35,736 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 34113, FL
23,740
Population
16,461
Households
1.4
Avg Household Size
57
Median Age
40%
College-Educated
87%
High-School Grad
25.9 sq mi
ZIP Area
917
Density / Sq Mi
$76,539
Median Household Income
$37,070
Median Earnings
$1,888
Median Rent
$450,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two rented residences offer a combined four-bedroom, two-bathroom layout in South Naples.
Where is this duplex located?
The property is located at 5317 Fleming St Naples, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two separate units, each with 2 bedrooms and 1 bathroom; 1,272 square feet on a 0.2‑acre lot; Built in 1972 with concrete‑block and stucco construction
