Duplex with Two-Car
For Sale
$469,000
832 Burns Ave S, Lehigh Acres, FL 33974
Newly built duplex featuring durable tile finishes, granite countertops, and wood cabinetry in both residences.
Property Size2,400 SF
Price / SF$195.42
Days on Market37
Property Features for 832 Burns Ave S
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
RB Real Estate LLC
(239) 745-2627
Listed By:
D'Nayla McGee
Source:
Naplesareapropertysearch
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 30 at 6:07PM
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 RB Real Estate LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,400-square-foot duplex contains two residences, each offering three bedrooms, two bathrooms, and a two-car garage. The interiors feature tile flooring throughout, granite countertops, and wood cabinetry, providing a consistent finish package across both units.
The property is located at 832 Burns Ave S in Lehigh Acres, Florida. Its two-unit configuration supports a range of ownership strategies, including occupying one residence while leasing the other, accommodating extended family, or operating both units as a residential income property.
The property is located at 832 Burns Ave S in Lehigh Acres, Florida. Its two-unit configuration supports a range of ownership strategies, including occupying one residence while leasing the other, accommodating extended family, or operating both units as a residential income property.
Key Highlights
- 2026‑built duplex with 2,400 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- 2‑car garage provided for each unit
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
$25,537
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
5.44%
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%
$510,740
$510.7K
Cap Rate 7%
$364,814
$364.8K
Cap Rate 9%
$283,744
$283.7K
Market Conditions
NOI Build-Up for 2,400 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
$38.9K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.5K $15.20/SF
− OpEx
−$10.9K −$4.56/SF
NOI
$25.5K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$510,740
Cap Rate 7%
$364,814
Cap Rate 9%
$283,744
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,537 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 4.74%
Theoretical Best
Specialty Retail
$923.9K
$808.4K – $1.08M
NOI $64,675 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 - Newly built duplex featuring durable tile finishes, granite countertops, and wood cabinetry in both residences.
Where is this duplex located?
The property is located at 832 Burns Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2026‑built duplex with 2,400 square feet; Each unit includes 3 bedrooms and 2 bathrooms; 2‑car garage provided for each unit
