Duplex with Private Fenced
For Sale
$425,000
931 931/933 Se 23rd Pl, Cape Coral, FL 33990
Two-bedroom?
Property Size2,334 SF
Price / SF$182.09
Days on Market72
Property Features for 931 931/933 Se 23rd Pl
General Information
Standard status
Active
Size
2,334 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Financials
Gross Income
$37,800
Average Monthly Rent
$1,575
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
fenced yard
Building Details
Year Built
1984
Buildings
1
Construction
block
Listing Agency:
Cornerstone Coastal Properties
Listed By:
Nicole Pistone · License #258023882
(239) 628-7439
Source:
Swfloridarealestate
Added: Aug 6
Changed: Oct 6
Last Checked: Oct 7 at 3:11PM
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
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Investment Insights
Based on property information with market context.
This 1984 duplex contains two 3-bedroom, 2-bathroom units within a 2,334-square-foot block-construction property. Each residence has a functional layout, private fully fenced yard, and dedicated one-car driveway for off-street parking.
Located at 931/933 SE 23rd Place in Cape Coral, the property offers separate residential spaces within a centrally positioned neighborhood. Both units are currently rented, with one lease producing $1,550 per month and the other $1,600 per month.
Located at 931/933 SE 23rd Place in Cape Coral, the property offers separate residential spaces within a centrally positioned neighborhood. Both units are currently rented, with one lease producing $1,550 per month and the other $1,600 per month.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units
- 2,334 square feet of total property size
- Private, fully fenced yard for each unit
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom?
Where is this duplex located?
The property is located at 931 931/933 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 3‑bedroom, 2‑bathroom units; 2,334 square feet of total property size; Private, fully fenced yard for each unit
