Waterfront Duplex with Private
For Sale
$350,000
Pending
603/601 Se 7th St, Cape Coral, FL 33990
Two-bedroom residences feature screened lanais, private garages, and canal views.
Property Size2,006 SF
Days on Market58
Property Features for 603/601 Se 7th St
General Information
Standard status
Pending
Size
2,006 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
screened lanai
private dock
Building Details
Year Built
1989
Buildings
1
Listing Agency:
Rent 1 Sale 1 Realty
(239) 573-5992
Listed By:
Eduardo Rodriguez · License #277001737
Source:
Naplesareapropertysearch
Added: Jul 6
Changed: Aug 31
Last Checked: Aug 31 at 5:38PM
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 Rent 1 Sale 1 Realty
Investment Insights
Based on property information with market context.
This 2,006-square-foot duplex, built in 1989, contains two separate 2-bedroom, 2-bathroom residences. Each unit includes a private one-car garage, screened lanai, vaulted ceilings, and an open living and dining arrangement. Tile and laminate flooring are used throughout, with updated laminate flooring in the main living areas of one residence. Kitchens provide ample cabinet and counter space, while sliding glass doors connect the interiors to the lanais and freshwater canal views.
The property includes a concrete seawall and private dock along the canal. It is served by city water and sewer, and all assessments have been paid in full. The address is 603 SE 7th St, Cape Coral, FL 33990, with shopping, dining, schools, parks, healthcare facilities, and major roadways identified in the surrounding area.
The property includes a concrete seawall and private dock along the canal. It is served by city water and sewer, and all assessments have been paid in full. The address is 603 SE 7th St, Cape Coral, FL 33990, with shopping, dining, schools, parks, healthcare facilities, and major roadways identified in the surrounding area.
Key Highlights
- Two 2‑bedroom, 2‑bathroom residences within a 2,006‑square‑foot duplex
- Each unit has a private one‑car garage and screened lanai
- Freshwater canal frontage with concrete seawall and private dock
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
$26,552
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
7.59%
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%
$531,040
$531.0K
Cap Rate 7%
$379,314
$379.3K
Cap Rate 9%
$295,022
$295.0K
Market Conditions
NOI Build-Up for 2,006 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
$39.7K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$37.9K $18.91/SF
− OpEx
−$11.4K −$5.67/SF
NOI
$26.6K $13.24/SF
Area
Cape Coral, 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%
$531,040
Cap Rate 7%
$379,314
Cap Rate 9%
$295,022
Alternative Uses
Best Use
Multifamily LT 5
$379.3K
$331.9K – $442.5K
NOI $26,552 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,606 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$520.5K
$455.4K – $607.3K
NOI $36,435 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
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-bedroom residences feature screened lanais, private garages, and canal views.
Where is this duplex located?
The property is located at 603/601 Se 7th St Cape Coral, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bathroom residences within a 2,006‑square‑foot duplex; Each unit has a private one‑car garage and screened lanai; Freshwater canal frontage with concrete seawall and private dock
