Renovated Duplex with
For Sale
$399,000
817-819 Indiana Ave, Fort Myers, FL 33908
Two-unit property updated in 2024 with new appliances, furnishings, and an established short-term rental setup.
Property Size1,600 SF
Price / SF$249.38
Days on Market195
Property Features for 817-819 Indiana Ave
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$51,017
Multifamily Units
2
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Premier Sotheby's Int'l Realty
Listed By:
Palmer Rosen · License #280597148
(239) 472-2735
Source:
Naplesareahomesearch
Added: Apr 7
Changed: Oct 1
Last Checked: Oct 16 at 9:40AM
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 Premier Sotheby's Int'l Realty
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Investment Insights
Based on property information with market context.
This duplex contains two sides within a 1,600-square-foot property built in 1983. Renovation work completed in 2024 included new appliances and furnishings, providing an updated configuration for continued rental use. Both sides have been operated as short-term rentals.
The property is located at 817-819 Indiana Ave in Fort Myers, within the Whiskey Creek area. A management and rental agent is already in place and may remain involved for a purchaser who chooses that arrangement.
The property is located at 817-819 Indiana Ave in Fort Myers, within the Whiskey Creek area. A management and rental agent is already in place and may remain involved for a purchaser who chooses that arrangement.
Key Highlights
- Duplex with two rental sides
- 1,600‑square‑foot property built in 1983
- Renovated in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,178
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,560
$423.6K
Cap Rate 7%
$302,543
$302.5K
Cap Rate 9%
$235,311
$235.3K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$30.3K $18.91/SF
− OpEx
−$9.1K −$5.67/SF
NOI
$21.2K $13.24/SF
Area
Lee County, 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%
$423,560
Cap Rate 7%
$302,543
Cap Rate 9%
$235,311
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $353.0K
NOI $21,178 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$280.4K
$245.3K – $327.1K
NOI $19,626 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$503.6K
$440.6K – $587.5K
NOI $35,251 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property updated in 2024 with new appliances, furnishings, and an established short-term rental setup.
Where is this duplex located?
The property is located at 817-819 Indiana Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with two rental sides; 1,600‑square‑foot property built in 1983; Renovated in 2024
