Waterfront Duplex with Recent
For Sale
$595,000
619 Se 7th St, Cape Coral, FL 33990
Two well-appointed residences on a freshwater canal, with private garages and direct access to recreational waterways.
Property Size2,800 SF
Price / SF$212.50
Days on Market105
Property Features for 619 Se 7th St
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2003
Tenancy
Single
Listing Agency:
Elliott Realty Services Inc
(305) 332-1220
Listed By:
Don Elliott · License #0536360
Source:
Napleshomesearcher
Added: May 17
Changed: Aug 28
Last Checked: Aug 29 at 10:35AM
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 Elliott Realty Services Inc
Investment Insights
Based on property information with market context.
This duplex contains 2,800 square feet with two separate three-bedroom, two-bath residences. Each unit includes an in-unit washer and dryer, tile flooring, high ceilings, crown molding, and a spacious primary suite with a walk-in closet. The primary bath features dual sinks, a shower, and a Roman tub. The property also includes a one-car garage with an opener and recently installed roof improvements.
Set along a freshwater canal at 619 SE 7th St in Cape Coral, the property provides access to connected waters and lakes for recreational boating and other water activities. One residence is vacant, while the other is occupied by a long-term tenant. Built in 2003, the duplex offers a combination of waterfront setting, substantial residential layout, and existing tenancy.
Set along a freshwater canal at 619 SE 7th St in Cape Coral, the property provides access to connected waters and lakes for recreational boating and other water activities. One residence is vacant, while the other is occupied by a long-term tenant. Built in 2003, the duplex offers a combination of waterfront setting, substantial residential layout, and existing tenancy.
Key Highlights
- Waterfront duplex on a freshwater canal with access to connected waters and lakes
- 2,800 square feet with two 3‑bedroom, 2‑bath residences
- In‑unit washer and dryer in 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
$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
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
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 well-appointed residences on a freshwater canal, with private garages and direct access to recreational waterways.
Where is this duplex located?
The property is located at 619 Se 7th 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: Waterfront duplex on a freshwater canal with access to connected waters and lakes; 2,800 square feet with two 3‑bedroom, 2‑bath residences; In‑unit washer and dryer in each residence
