New Construction Corner
702-704 SE 8th Terrace Cape Coral, FL 33990
702-704 SE 8th Terrace, Cape Coral, FL, 33990
$550,000
Pending
For Sale
$550,000
Pending
MULTI_FAMILY - Ranch - Cape Coral, FL
Property Size2,474 SF
Lot Size0.28 Acres
Days on Market30
Property Features for 702-704 SE 8th Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 4, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
- Pets allowed
- Yes
- Standard status
- Pending
- APN
- 24-44-23-C2-01068.0290
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CAPE CORAL UNIT 24 BLK 1068 PB 14 PG 77 LOTS 29 + 30
- Tax Annual Amount
- 8249
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Ceiling Fan(s), Central Air
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Block, Concrete, Stucco
- Roof type
- Shingle
- Architectural style
- Ranch
Listing agency
Panther Realty LLC
(239) 699-1990
Listed by
Mari Ruiz Vallejo · License #249528262
(239) 330-5071
Added: Jun 24 Updated: Jul 18 at 1:39AM Checked: Jul 23 at 6:06AM
MLS# 2026027632
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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 fully leased duplex at 702–704 SE 8th Terrace was built in 2024 and is offered turnkey with both sides occupied. Each unit provides 3 bedrooms and 2 full bathrooms, along with an attached 1-car garage. The layout is designed for straightforward, residential living, with each side offering 1,237 square feet of interior space. The property’s current occupancy supports an all-sides-leased setup intended to reduce vacancy concerns for an investor from day one.
The duplex sits on a desirable corner lot in Cape Coral, providing additional outdoor space and benefiting from improved natural light and curb appeal associated with corner positioning. The lot size is listed at 0.28 acres.
For buyers seeking a ready-to-rent residential income asset, the fact that both sides are already leased is a practical advantage. The listing also notes over $1,000 in monthly cash flow and highlights a 3.75% interest rate buydown for qualified buyers. With newer construction and an institutional ownership profile, the property is presented as a fit for 1031 exchange buyers, portfolio builders, or first-time investors looking for a duplex configured with tenants already in place.
The duplex sits on a desirable corner lot in Cape Coral, providing additional outdoor space and benefiting from improved natural light and curb appeal associated with corner positioning. The lot size is listed at 0.28 acres.
For buyers seeking a ready-to-rent residential income asset, the fact that both sides are already leased is a practical advantage. The listing also notes over $1,000 in monthly cash flow and highlights a 3.75% interest rate buydown for qualified buyers. With newer construction and an institutional ownership profile, the property is presented as a fit for 1031 exchange buyers, portfolio builders, or first-time investors looking for a duplex configured with tenants already in place.
Key Highlights
- Fully leased duplex on a corner lot with both sides occupied by tenants
- Built in 2024 with 2 units, each offering 1,237 SF of living space
- Each unit features 3 bedrooms and 2 full bathrooms plus an attached 1‑car garage
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.0k | $19.80 |
| − Vacancy | −$2.2k | −$0.89 |
| EGI | $46.8k | $18.91 |
| − OpEx | −$14.0k | −$5.67 |
| NOI | $32.7k | $13.24 |
2,474 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$467.8K
$409.3K – $545.8K
NOI $32,747 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$433.5K
$379.3K – $505.8K
NOI $30,347 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$641.9K
$561.7K – $748.9K
NOI $44,936 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully leased 2024 duplex on a corner lot, with both sides occupied and an attached 1-car garage per unit.
Where is this duplex located?
The property is located at 702-704 SE 8th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fully leased duplex on a corner lot with both sides occupied by tenants; Built in 2024 with 2 units, each offering 1,237 SF of living space; Each unit features 3 bedrooms and 2 full bathrooms plus an attached 1‑car garage
