Duplex with 2024
For Sale
$290,000
5502-5504 10th Ave, Fort Myers, FL 33907
Two maintained units offer rental use, with tenants responsible for water and electric service.
Property Size1,580 SF
Price / SF$183.54
Days on Market8
Property Features for 5502-5504 10th Ave
General Information
Standard status
Active
Size
1,580 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
MAFF Realty Services LLC
Listed By:
Mario Franchini · License #279505499
(239) 274-9222
Source:
Mynaplesareahomefinder
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 13 at 2:21AM
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 MAFF Realty Services LLC
Investment Insights
Based on property information with market context.
This 1,580-square-foot duplex in Fort Myers contains two units and was built in 1974. Both residences are maintained, and the roof was replaced in 2024. The property can also accommodate an owner-occupant.
Shopping, dining, and public transit are described as a short drive away. Tenants pay the water and electric costs for their units.
Shopping, dining, and public transit are described as a short drive away. Tenants pay the water and electric costs for their units.
Key Highlights
- Two‑unit duplex totaling 1,580 square feet
- Roof replaced in 2024
- Built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,913
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,260
$418.3K
Cap Rate 7%
$298,757
$298.8K
Cap Rate 9%
$232,367
$232.4K
Market Conditions
NOI Build-Up for 1,580 SF
Gross rent
$31.3K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$29.9K $18.91/SF
− OpEx
−$9.0K −$5.67/SF
NOI
$20.9K $13.24/SF
Area
Lee County, 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%
$418,260
Cap Rate 7%
$298,757
Cap Rate 9%
$232,367
Alternative Uses
Best Use
Multifamily LT 5
$298.8K
$261.4K – $348.6K
NOI $20,913 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.0K
NOI $19,381 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$497.3K
$435.1K – $580.2K
NOI $34,811 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two maintained units offer rental use, with tenants responsible for water and electric service.
Where is this duplex located?
The property is located at 5502-5504 10th Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,580 square feet; Roof replaced in 2024; Built in 1974
