2-Unit Duplex with
For Sale
$459,500
A-912 Se 24th Ave, Cape Coral, FL 33990
Updated income property with private garages, a screened pool, and proximity to shopping, dining, parks, and Gulf Coast beaches.
Property Size2,236 SF
Price / SF$205.50
Days on Market157
Property Features for A-912 Se 24th Ave
General Information
Standard status
Active
Size
2,236 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,531
Amenities
pool
Building Details
Buildings
1
Listing Agency:
Nexthome South Pointe
(727) 301-7300
Listed By:
Thomas Schubert
(610) 360-6565
Source:
Exprealty
Added: Apr 2
Changed: Sep 2
Last Checked: Sep 4 at 1:06PM
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 Nexthome South Pointe
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 2-bathroom residences, each paired with a private 1-car garage. The property measures 2,236 square feet and includes an inground pool enclosed by a recently installed pool cage. Both units feature new appliances, while Unit B’s AC unit was replaced on 5/2/25.
One residence is occupied by a long-term tenant who would like to remain, and the owner is willing to provide a 6-month lease until the property is occupied. The home is located in SE Cape Coral near Del Prado Boulevard, with shopping, dining, Cape Coral Hospital, schools, parks, and Gulf Coast beaches nearby. Hancock Bridge Parkway provides access toward Fort Myers, while Rosen Park Boat Ramp offers access to the Caloosahatchee River and the Gulf.
One residence is occupied by a long-term tenant who would like to remain, and the owner is willing to provide a 6-month lease until the property is occupied. The home is located in SE Cape Coral near Del Prado Boulevard, with shopping, dining, Cape Coral Hospital, schools, parks, and Gulf Coast beaches nearby. Hancock Bridge Parkway provides access toward Fort Myers, while Rosen Park Boat Ramp offers access to the Caloosahatchee River and the Gulf.
Key Highlights
- 2,236‑square‑foot duplex with two 2‑bedroom, 2‑bathroom units
- Private 1‑car garage for each residence
- Inground pool with a newly installed pool cage
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
$29,596
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
6.44%
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%
$591,920
$591.9K
Cap Rate 7%
$422,800
$422.8K
Cap Rate 9%
$328,844
$328.8K
Market Conditions
NOI Build-Up for 2,236 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
$44.3K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.3K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.6K $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 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%
$591,920
Cap Rate 7%
$422,800
Cap Rate 9%
$328,844
Alternative Uses
Best Use
Multifamily LT 5
$422.8K
$370.0K – $493.3K
NOI $29,596 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$391.8K
$342.8K – $457.1K
NOI $27,427 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$580.2K
$507.7K – $676.9K
NOI $40,613 @ 7.0% cap · market cap 8.84%
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
79
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
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 - Updated income property with private garages, a screened pool, and proximity to shopping, dining, parks, and Gulf Coast beaches.
Where is this duplex located?
The property is located at A-912 Se 24th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $459,500.
What are key features of this property?
This property features: 2,236‑square‑foot duplex with two 2‑bedroom, 2‑bathroom units; Private 1‑car garage for each residence; Inground pool with a newly installed pool cage
