Updated Two-Unit
For Sale
$309,900
Pending
607 Se 24th Ave, Cape Coral, FL 33990
Both residences offer two bedrooms and one bathroom, supporting separate occupancy or rental use.
Property Size1,660 SF
Days on Market82
Property Features for 607 Se 24th Ave
General Information
Standard status
Pending
Size
1,660 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1984
Listing Agency:
Top Selling Realty
Listed By:
Bernie Stiller · License #258021108
(239) 560-2453
Source:
Naplesareapropertysearch
Added: Aug 13
Changed: Nov 1
Last Checked: Nov 1 at 5:58AM
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 Top Selling Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each configured with 2 bedrooms and 1 bathroom. The property measures 1,660 square feet and was built in 1984. Improvements include a roof replacement completed in 2022, re-piping on one side in 2021, two new hot water heaters, and remodeled bathrooms in both residences.
The property has a documented 7-year Airbnb rental history and is not located in a flood zone. Its Cape Coral address provides access to downtown Fort Myers, Cape Coral Hospital, schools, supermarkets, shops, and restaurants.
The property has a documented 7-year Airbnb rental history and is not located in a flood zone. Its Cape Coral address provides access to downtown Fort Myers, Cape Coral Hospital, schools, supermarkets, shops, and restaurants.
Key Highlights
- Two residences with 2 bedrooms and 1 bathroom each
- 1,660‑square‑foot duplex built in 1984
- Roof replacement completed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,972
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$439,440
$439.4K
Cap Rate 7%
$313,886
$313.9K
Cap Rate 9%
$244,133
$244.1K
Market Conditions
NOI Build-Up for 1,660 SF
Gross rent
$32.9K $19.80/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$31.4K $18.91/SF
− OpEx
−$9.4K −$5.67/SF
NOI
$22.0K $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 Rate 5%
$439,440
Cap Rate 7%
$313,886
Cap Rate 9%
$244,133
Alternative Uses
Best Use
Multifamily LT 5
$313.9K
$274.7K – $366.2K
NOI $21,972 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$290.9K
$254.5K – $339.4K
NOI $20,362 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$430.7K
$376.9K – $502.5K
NOI $30,151 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
192
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms and one bathroom, supporting separate occupancy or rental use.
Where is this duplex located?
The property is located at 607 Se 24th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two residences with 2 bedrooms and 1 bathroom each; 1,660‑square‑foot duplex built in 1984; Roof replacement completed in 2022
