Renovated Duplex with
For Sale
$399,000
817 817-819 Indiana Ave, Fort Myers, FL 33908
Both sides are operated as short-term rentals with updated appliances and furnishings.
Property Size1,600 SF
Price / SF$249.38
Days on Market58
Property Features for 817 817-819 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
Listing Agency:
Premier Sotheby's Int'l Realty
Listed By:
Palmer Rosen · License #280597148
(239) 472-2735
Source:
Swfloridarealestate
Added: Aug 22
Changed: Oct 13
Last Checked: Oct 7 at 1:46PM
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 1,600 square feet and was built in 1983. Renovation work completed in 2024 included new appliances, furnishings, and other improvements across the property. Both sides are currently used for short-term rentals, and a management or rental agent can remain in place for a buyer who chooses that arrangement.
The property is located at 817-819 Indiana Ave in Fort Myers, Florida, within the Whiskey Creek area.
The property is located at 817-819 Indiana Ave in Fort Myers, Florida, within the Whiskey Creek area.
Key Highlights
- 1,600‑square‑foot duplex built in 1983
- 2024 renovations included new appliances, furnishings, and other improvements
- Both duplex sides operate as short‑term rentals
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both sides are operated as short-term rentals with updated appliances and furnishings.
Where is this duplex located?
The property is located at 817 817-819 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: 1,600‑square‑foot duplex built in 1983; 2024 renovations included new appliances, furnishings, and other improvements; Both duplex sides operate as short‑term rentals
