Duplex with Screened
For Sale
$525,000
909/911 Homestead Rd S, Lehigh Acres, FL 33974
Two newer residential units offer matching layouts, upgraded finishes, and one side currently leased.
Property Size2,242 SF
Days on Market14
Property Features for 909/911 Homestead Rd S
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Residential Income
Zoning
RM-2
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,073
Amenities
screened lanais
washer and dryer
Building Details
Building Size
2,242 SF
Year Built
2024
Units
2
Listing Agency:
Serhant
(913) 832-7931
Listed By:
Justin Jamison
(913) 832-7931
Source:
Bartleyrealty
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 17 at 11:43PM
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 Serhant
Investment Insights
Based on property information with market context.
This duplex at 909/911 Homestead Rd S in Lehigh Acres was built in 2024 and includes two matching residences, each with 3 bedrooms and 2 bathrooms. Both units feature modern finishes, screened lanais, and practical interior improvements. Added features include a fence, in-unit washer and dryer, glass bathroom doors, closet shelving, fresh paint, water-system upgrades, soffit lighting, and blinds.
Unit 909 is leased through March 31, 2027, while Unit 911 is available for occupancy or leasing. Electricity is paid by the tenant. The property is located in the RM-2 zoning district, providing a duplex configuration with one residence occupied and the other available for the next owner’s use or leasing plans.
Unit 909 is leased through March 31, 2027, while Unit 911 is available for occupancy or leasing. Electricity is paid by the tenant. The property is located in the RM-2 zoning district, providing a duplex configuration with one residence occupied and the other available for the next owner’s use or leasing plans.
Key Highlights
- Built in 2024 with two matching 3‑bedroom, 2‑bathroom units
- Unit 909 leased through March 31, 2027
- Unit 911 is available for occupancy or leasing
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
$23,856
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
4.54%
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%
$477,120
$477.1K
Cap Rate 7%
$340,800
$340.8K
Cap Rate 9%
$265,067
$265.1K
Market Conditions
NOI Build-Up for 2,242 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
$36.3K $16.20/SF
− Vacancy
−$2.2K −$1.00/SF
EGI
$34.1K $15.20/SF
− OpEx
−$10.2K −$4.56/SF
NOI
$23.9K $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%
$477,120
Cap Rate 7%
$340,800
Cap Rate 9%
$265,067
Alternative Uses
Best Use
Multifamily LT 5
$340.8K
$298.2K – $397.6K
NOI $23,856 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$296.5K
$259.4K – $345.9K
NOI $20,753 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$863.1K
$755.2K – $1.01M
NOI $60,417 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
13
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 - Two newer residential units offer matching layouts, upgraded finishes, and one side currently leased.
Where is this duplex located?
The property is located at 909/911 Homestead Rd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Built in 2024 with two matching 3‑bedroom, 2‑bathroom units; Unit 909 leased through March 31, 2027; Unit 911 is available for occupancy or leasing
