Furnished 2-Unit
New
For Sale
$474,900
5815/5817 Littlestone Ct, North Fort Myers, FL 33903
Both residences have screened lanais, in-unit laundry, and furnishings for immediate occupancy or rental use.
Property Size2,886 SF
Price / SF$164.55
Days on Market7
Property Features for 5815/5817 Littlestone Ct
General Information
Standard status
Active
Size
2,886 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
family room
in-residence laundry
screened lanai/porch
Building Details
Year Built
1991
Buildings
1
Listing Agency:
KW Florida Living
Listed By:
Jessica Nolan · License #3223347
(239) 236-4350
Source:
Propertiesforsaleinswflorida
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 6:13AM
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 KW Florida Living
Investment Insights
Based on property information with market context.
This 1991 duplex contains two furnished residences, each offering 2 bedrooms, 2 full baths, and 1,443 square feet. Both layouts include a family room, in-residence laundry, and a screened lanai or porch. The combined building area is 2,886 square feet.
The units are configured for seasonal rentals, with flexibility for continued short-term bookings, long-term leasing, or a mix of the two. One residence has reservations scheduled from January through March, which the seller is willing to transfer to the buyer. Furnishings are included in both units.
The units are configured for seasonal rentals, with flexibility for continued short-term bookings, long-term leasing, or a mix of the two. One residence has reservations scheduled from January through March, which the seller is willing to transfer to the buyer. Furnishings are included in both units.
Key Highlights
- Two‑unit duplex built in 1991
- Each residence has 2 bedrooms, 2 full baths, and 1,443 square feet
- Combined building area of 2,886 square feet
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
$38,200
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
8.04%
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%
$764,000
$764.0K
Cap Rate 7%
$545,714
$545.7K
Cap Rate 9%
$424,444
$424.4K
Market Conditions
NOI Build-Up for 2,886 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
$57.1K $19.80/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$54.6K $18.91/SF
− OpEx
−$16.4K −$5.67/SF
NOI
$38.2K $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 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%
$764,000
Cap Rate 7%
$545,714
Cap Rate 9%
$424,444
Alternative Uses
Best Use
Multifamily LT 5
$545.7K
$477.5K – $636.7K
NOI $38,200 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$908.3K
$794.8K – $1.06M
NOI $63,584 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Explore this area
Business Placement
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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 - Both residences have screened lanais, in-unit laundry, and furnishings for immediate occupancy or rental use.
Where is this duplex located?
The property is located at 5815/5817 Littlestone Ct North Fort Myers, FL.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1991; Each residence has 2 bedrooms, 2 full baths, and 1,443 square feet; Combined building area of 2,886 square feet
