Waterfront Duplex With Private
For Sale
$350,000
603/601 Se 7th St, Cape Coral, FL 33990
Two residences feature private garages and screened lanais overlooking a freshwater canal.
Property Size2,006 SF
Price / SF$174.48
Days on Market54
Property Features for 603/601 Se 7th St
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Multi-Family
Building Details
Year Built
1989
Listing Agency:
Rent 1 Sale 1 Realty
(239) 573-5992
Listed By:
Eduardo Rodriguez · License #277001737
Source:
Naplesareapropertysearch
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 30 at 5:59PM
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 duplex contains two 2-bedroom, 2-bathroom residences within 2,006 square feet. Each unit includes a private one-car garage, screened lanai, vaulted ceilings, open living and dining areas, and a kitchen with substantial cabinet and counter space. Tile and laminate flooring are used throughout, with updated laminate in one residence. The property has been freshly painted and includes a new roof, new A/C on each side, a concrete seawall, and a private dock along the freshwater canal.
Located at 603/601 SE 7th St in Cape Coral, the property is served by city water and sewer, with all assessments paid in full. Shopping, dining, schools, parks, healthcare facilities, and major roadways are nearby, with access to Fort Myers and other parts of Cape Coral.
Located at 603/601 SE 7th St in Cape Coral, the property is served by city water and sewer, with all assessments paid in full. Shopping, dining, schools, parks, healthcare facilities, and major roadways are nearby, with access to Fort Myers and other parts of Cape Coral.
Key Highlights
- Two 2‑bedroom, 2‑bathroom residences totaling 2,006 square feet
- Freshwater canal setting with concrete seawall and private dock
- Private one‑car garage and screened lanai for each residence
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature private garages and screened lanais overlooking a freshwater canal.
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 totaling 2,006 square feet; Freshwater canal setting with concrete seawall and private dock; Private one‑car garage and screened lanai for each residence
