Duplex Pool
For Sale
$475,000
619/621 Sw 3rd Ter, Cape Coral, FL 33991
Updated duplex with a screened pool area, attached garages, commercial corridor zoning, and flexible residential functionality.
Property Size2,064 SF
Price / SF$230.14
Days on Market127
Property Features for 619/621 Sw 3rd Ter
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Multi-Family
Zoning
CC
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
pool
screened lanai
fenced backyard
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Anchorpoint Real Estate, LLC
(239) 785-6986
Listed By:
Chad Damitz · License #258031115
Source:
Naplesareapropertysearch
Added: Apr 28
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 Anchorpoint Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1988, this 4 BED 4 BATH duplex at 619/621 SW 3rd Ter includes attached garages, a fenced backyard, and a screened lanai surrounding a PebbleTec swimming pool. The property has received substantial updates, including a 2024 AC system and ductwork, a refreshed kitchen with granite countertops and newer cabinetry, epoxy flooring, custom lighting, hurricane shutters, and updated pool lighting with color-changing features. Garage improvements include automatic door openers, an insulated garage door, and a dedicated AC unit.
The property carries Commercial Corridor (CC) zoning, with business-use opportunities subject to City approval. City water and sewer serve the property, and all assessments are paid. Mature oak trees provide shade in the backyard, while shopping, restaurants, schools, and Sun Splash Family Waterpark are nearby. The property is in an area where flood insurance is not typically required by lenders. Appliances are included, and current home inspection and wind mitigation reports are available.
The property carries Commercial Corridor (CC) zoning, with business-use opportunities subject to City approval. City water and sewer serve the property, and all assessments are paid. Mature oak trees provide shade in the backyard, while shopping, restaurants, schools, and Sun Splash Family Waterpark are nearby. The property is in an area where flood insurance is not typically required by lenders. Appliances are included, and current home inspection and wind mitigation reports are available.
Key Highlights
- Duplex with 4 BED 4 BATH configuration and attached garages
- Commercial Corridor (CC) zoning with business‑use opportunities subject to City approval
- PebbleTec swimming pool, screened lanai, fenced backyard, and mature oak trees
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
$27,320
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
5.75%
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%
$546,400
$546.4K
Cap Rate 7%
$390,286
$390.3K
Cap Rate 9%
$303,556
$303.6K
Market Conditions
NOI Build-Up for 2,064 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
$40.9K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$39.0K $18.91/SF
− OpEx
−$11.7K −$5.67/SF
NOI
$27.3K $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%
$546,400
Cap Rate 7%
$390,286
Cap Rate 9%
$303,556
Alternative Uses
Best Use
Multifamily LT 5
$390.3K
$341.5K – $455.3K
NOI $27,320 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$361.7K
$316.5K – $422.0K
NOI $25,318 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$535.6K
$468.6K – $624.8K
NOI $37,489 @ 7.0% cap · market cap 7.89%
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
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 33991, FL
26,381
Population
11,563
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,061
Density / Sq Mi
$82,927
Median Household Income
$41,773
Median Earnings
$1,914
Median Rent
$351,100
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 - Updated duplex with a screened pool area, attached garages, commercial corridor zoning, and flexible residential functionality.
Where is this duplex located?
The property is located at 619/621 Sw 3rd Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex with 4 BED 4 BATH configuration and attached garages; Commercial Corridor (CC) zoning with business‑use opportunities subject to City approval; PebbleTec swimming pool, screened lanai, fenced backyard, and mature oak trees
