Updated Duplex with Screened
New
For Sale
$499,900
5887 Littlestone Ct Unit B, North Fort Myers, FL 33903
Two three-bedroom residences offer private primary suites, garages, fenced yards, and open living areas.
Property Size3,200 SF
Lot Size0.32 Acres
Price / SF$156.22
Days on Market7
Property Features for 5887 Littlestone Ct Unit B
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.32 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
screened patios
fenced backyards
garden
fruit trees
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Realty One Group MVP
(239) 464-8056
Listed By:
Brandon Lucas · License #258025293
Source:
Swfloridahomeguide
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 28 at 12:19PM
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 Realty One Group MVP
Investment Insights
Based on property information with market context.
Built in 2005, this duplex contains approximately 3,200 total square feet across two residences. Each unit has 3 bedrooms, 2 full bathrooms, a 2-car garage, split-bedroom arrangement, and a primary suite with an ensuite bath featuring dual sinks. Interior features include open great rooms, diagonal tile flooring, custom blinds, updated lighting, newer appliances, and dedicated laundry areas.
Outdoor amenities include a screened patio for each residence, fenced backyards, a garden, fruit trees, and an open rear lawn with no immediate rear neighbor. Both units received 2023 dimensional shingle roofs and 2023 air-conditioning systems. Unit A includes updated fixtures, newer interior paint, and an additional garage refrigerator. Unit B offers fresh paint, an electric patio shade, a storage shed, and an optional furniture package.
The property is located at 5887 Littlestone Ct Unit B, North Fort Myers, FL 33903, near the Caloosahatchee River. Proposed plans for the land behind the property include a future golf course.
Outdoor amenities include a screened patio for each residence, fenced backyards, a garden, fruit trees, and an open rear lawn with no immediate rear neighbor. Both units received 2023 dimensional shingle roofs and 2023 air-conditioning systems. Unit A includes updated fixtures, newer interior paint, and an additional garage refrigerator. Unit B offers fresh paint, an electric patio shade, a storage shed, and an optional furniture package.
The property is located at 5887 Littlestone Ct Unit B, North Fort Myers, FL 33903, near the Caloosahatchee River. Proposed plans for the land behind the property include a future golf course.
Key Highlights
- Approximately 3,200 total square feet with two 3‑bedroom, 2‑bath residences
- Each unit includes a 2‑car garage and screened patio
- 2023 dimensional shingle roof and 2023 air‑conditioning systems for both units
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
$42,356
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
8.47%
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%
$847,120
$847.1K
Cap Rate 7%
$605,086
$605.1K
Cap Rate 9%
$470,622
$470.6K
Market Conditions
NOI Build-Up for 3,200 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
$63.4K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$60.5K $18.91/SF
− OpEx
−$18.2K −$5.67/SF
NOI
$42.4K $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%
$847,120
Cap Rate 7%
$605,086
Cap Rate 9%
$470,622
Alternative Uses
Best Use
Multifamily LT 5
$605.1K
$529.5K – $705.9K
NOI $42,356 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$560.7K
$490.7K – $654.2K
NOI $39,252 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$1.01M
$881.3K – $1.18M
NOI $70,502 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
131
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer private primary suites, garages, fenced yards, and open living areas.
Where is this duplex located?
The property is located at 5887 Littlestone Ct Unit B North Fort Myers, 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: Approximately 3,200 total square feet with two 3‑bedroom, 2‑bath residences; Each unit includes a 2‑car garage and screened patio; 2023 dimensional shingle roof and 2023 air‑conditioning systems for both units
