Two-Unit Block
For Sale
$425,000
931/933 Se 23rd Pl, Cape Coral, FL 33990
Income-producing property with private fenced yards and separate driveway parking for each residence.
Property Size2,334 SF
Price / SF$182.09
Days on Market421
Property Features for 931/933 Se 23rd Pl
General Information
Standard status
Active
Size
2,334 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Gross Income
$37,800
Amenities
fenced yard
Building Details
Year Built
1984
Construction
block
Listing Agency:
Cornerstone Coastal Properties
Listed By:
Nicole Pistone · License #258023882
(239) 628-7439
Source:
Napleshomesearches
Added: Aug 20, 2025
Changed: Oct 1
Last Checked: Oct 12 at 8:16PM
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 Cornerstone Coastal Properties
Investment Insights
Based on property information with market context.
Located at 931/933 SE 23rd Place in Cape Coral, this 1984 duplex contains two residential units with practical layouts and low-maintenance block construction. Each residence offers three bedrooms, two bathrooms, a private fully fenced yard, and a dedicated one-car driveway. The property contains 2,334 square feet overall and is configured for separate occupancy.
The duplex sits in a centrally located residential setting with access to schools, shopping, and dining. Separate outdoor areas and driveway parking add functional privacy for both units, while the two-unit arrangement supports continued rental use or an owner-occupant arrangement with an additional residence on site.
The duplex sits in a centrally located residential setting with access to schools, shopping, and dining. Separate outdoor areas and driveway parking add functional privacy for both units, while the two-unit arrangement supports continued rental use or an owner-occupant arrangement with an additional residence on site.
Key Highlights
- Two‑unit duplex with 2,334 square feet built in 1984
- Each unit includes 3 bedrooms and 2 bathrooms
- Private fully fenced yard for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,894
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,880
$617.9K
Cap Rate 7%
$441,343
$441.3K
Cap Rate 9%
$343,267
$343.3K
Market Conditions
NOI Build-Up for 2,334 SF
Gross rent
$46.2K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.1K $18.91/SF
− OpEx
−$13.2K −$5.67/SF
NOI
$30.9K $13.24/SF
Area
Cape Coral, 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%
$617,880
Cap Rate 7%
$441,343
Cap Rate 9%
$343,267
Alternative Uses
Best Use
Multifamily LT 5
$441.3K
$386.2K – $514.9K
NOI $30,894 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$409.0K
$357.9K – $477.2K
NOI $28,629 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$605.6K
$529.9K – $706.6K
NOI $42,393 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing property with private fenced yards and separate driveway parking for each residence.
Where is this duplex located?
The property is located at 931/933 Se 23rd Pl Cape Coral, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,334 square feet built in 1984; Each unit includes 3 bedrooms and 2 bathrooms; Private fully fenced yard for each residence
