Duplex with 2024
For Sale
$290,000
5631 5631-5633 10th Ave, Fort Myers, FL 33907
Two well-maintained units support rental use, with tenants responsible for water and electric service.
Property Size1,560 SF
Price / SF$185.90
Days on Market56
Property Features for 5631 5631-5633 10th Ave
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1973
Buildings
1
Listing Agency:
MAFF Realty Services LLC
Listed By:
Mario Franchini · License #279505499
(239) 274-9222
Source:
Swfloridarealestate
Added: Aug 25
Changed: Oct 9
Last Checked: Oct 7 at 1:33PM
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
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Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex contains two rental units and was built in 1973. Both units are described as well maintained, and the property received a new roof in 2024. The configuration also provides an owner-occupancy option while retaining a second unit for rental use.
Located at 5631-5633 10th Ave in Fort Myers, the property is near shopping, dining, and public transit. Tenants pay both water and electric expenses, supporting a straightforward operating structure for the property owner.
Located at 5631-5633 10th Ave in Fort Myers, the property is near shopping, dining, and public transit. Tenants pay both water and electric expenses, supporting a straightforward operating structure for the property owner.
Key Highlights
- Two‑unit duplex totaling 1,560 square feet
- New roof installed in 2024
- Built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,649
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,980
$413.0K
Cap Rate 7%
$294,986
$295.0K
Cap Rate 9%
$229,433
$229.4K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$30.9K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$29.5K $18.91/SF
− OpEx
−$8.8K −$5.67/SF
NOI
$20.6K $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%
$412,980
Cap Rate 7%
$294,986
Cap Rate 9%
$229,433
Alternative Uses
Best Use
Multifamily LT 5
$295.0K
$258.1K – $344.2K
NOI $20,649 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$273.4K
$239.2K – $318.9K
NOI $19,135 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$491.0K
$429.6K – $572.8K
NOI $34,370 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
896
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
Frequently Asked Questions
What type of property is this?
Duplex - Two well-maintained units support rental use, with tenants responsible for water and electric service.
Where is this duplex located?
The property is located at 5631 5631-5633 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 1,560 square feet; New roof installed in 2024; Built in 1973
