Waterfront Duplex With Enclosed
For Sale
$595,000
617 SE 7 ST, Cape Coral, FL 33990
Residential Income, Cape Coral, FL
Property Size2,800 SF
Price / SF$212.50
Days on Market61
Property Features for 617 SE 7 ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R3-W
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking
4
Patio and Porch features
Porch
Exterior features
Enclosed Porch
Subdivision
cape coral
Lot features
< 1/4 Acre
Standard status
Active
APN
13 44 23 C3 01079 0550
Size
2,800 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
CAPE CORAL UNIT 23 BLK 1079 PB 14 PG 42 LOTS 55 + 56 Plat Book # 14 / Page # 42
Tax Annual Amount
7725
Legal Description
CAPE CORAL UNIT 23 BLK 1079 PB 14 PG 42 LOTS 55 + 56 Plat Book # 14 / Page # 42
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Water front
1
Amenities
fresh water access
enclosed patio
high ceilings
crown moldings
modern appliances
Building Details
Year built
2004
Floors in Building
1
Flooring type
Tile - Ceramic, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Elliott Realty Services Inc.
(305) 667-3325
Listed By:
Donald Elliott · License #0536360
(305) 332-1220
Added: Jun 23
Changed: Aug 19
Last Checked: Aug 22 at 2:06AM
MLS# A11732751
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,800-square-foot duplex was built in 2004 with block construction, ceramic tile flooring, central air, and electric heating. The property is arranged as two units of approximately 1,400 square feet each, excluding the garage, with a split-bedroom layout and modern appliances. An enclosed patio extends toward the canal, and the roof has been replaced.
The property offers freshwater access connected to lakes and canals, supporting recreational boating and other water activities. Public water and public sewer serve the property, with cable available. Each unit includes three bedrooms and two bathrooms as described in the listing, providing a residential income configuration with the option to occupy one side while leasing the other.
The property offers freshwater access connected to lakes and canals, supporting recreational boating and other water activities. Public water and public sewer serve the property, with cable available. Each unit includes three bedrooms and two bathrooms as described in the listing, providing a residential income configuration with the option to occupy one side while leasing the other.
Key Highlights
- 2,800‑square‑foot duplex with two approximately 1,400‑square‑foot units, excluding the garage
- Built in 2004 with block construction and a new roof
- Freshwater access to lakes and canals
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
$37,062
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
6.23%
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%
$741,240
$741.2K
Cap Rate 7%
$529,457
$529.5K
Cap Rate 9%
$411,800
$411.8K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$52.9K $18.91/SF
− OpEx
−$15.9K −$5.67/SF
NOI
$37.1K $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%
$741,240
Cap Rate 7%
$529,457
Cap Rate 9%
$411,800
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,062 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$490.6K
$429.3K – $572.4K
NOI $34,345 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,857 @ 7.0% cap · market cap 8.55%
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
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-unit property with a canal-facing enclosed patio and freshwater access to connected lakes and canals.
Where is this duplex located?
The property is located at 617 SE 7 ST Cape Coral, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,800‑square‑foot duplex with two approximately 1,400‑square‑foot units, excluding the garage; Built in 2004 with block construction and a new roof; Freshwater access to lakes and canals
