Duplex with New
For Sale
$290,000
5635-5637 10th Ave, Fort Myers, FL 33907
Two-unit residential income property with well-maintained interiors and an owner-occupancy option.
Property Size780 SF
Price / SF$371.79
Days on Market64
Property Features for 5635-5637 10th Ave
General Information
Standard status
Active
Size
780 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
MAFF Realty Services LLC
Listed By:
Mario Franchini · License #279505499
(239) 810-1822
Source:
Naplesareahomesearch
Added: Aug 26
Changed: Oct 26
Last Checked: Oct 28 at 8:26AM
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 two-unit duplex, built in 1973, offers a residential income property configuration with both units described as well maintained. The roof was replaced in 2024, and the occupants pay water and electric expenses. An owner-occupancy option adds flexibility for a purchaser seeking to live in one unit while retaining the second as an income-producing residence.
The property is located at 5635-5637 10th Ave in Fort Myers, with shopping, dining, and public transit described as minutes away. The asset is identified by PID 11-45-24-06-00028.0290.
The property is located at 5635-5637 10th Ave in Fort Myers, with shopping, dining, and public transit described as minutes away. The asset is identified by PID 11-45-24-06-00028.0290.
Key Highlights
- Two‑unit duplex built in 1973
- New roof installed in 2024
- Both units described as well maintained
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,324
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,480
$206.5K
Cap Rate 7%
$147,486
$147.5K
Cap Rate 9%
$114,711
$114.7K
Market Conditions
NOI Build-Up for 780 SF
Gross rent
$15.4K $19.80/SF
− Vacancy
−$695 −$0.89/SF
EGI
$14.7K $18.91/SF
− OpEx
−$4.4K −$5.67/SF
NOI
$10.3K $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%
$206,480
Cap Rate 7%
$147,486
Cap Rate 9%
$114,711
Alternative Uses
Best Use
Multifamily LT 5
$147.5K
$129.1K – $172.1K
NOI $10,324 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$136.7K
$119.6K – $159.5K
NOI $9,568 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 5.93%
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
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with well-maintained interiors and an owner-occupancy option.
Where is this duplex located?
The property is located at 5635-5637 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 built in 1973; New roof installed in 2024; Both units described as well maintained
