Duplex with Screened
For Sale
$349,900
A-b-3004 Santa Barbara Blvd, Cape Coral, FL 33991
Two separate residences offer flexible occupancy, covered outdoor areas, front parking, and no HOA restrictions.
Property Size2,194 SF
Price / SF$159.48
Days on Market70
Property Features for A-b-3004 Santa Barbara Blvd
General Information
Standard status
Active
Size
2,194 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,553
Amenities
screened lanai
Building Details
Buildings
1
Listing Agency:
Exp Realty LLC
(239) 450-8971
Listed By:
Sandra Schlaupitz, PA
(239) 450-8971
Source:
Exprealty
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 31 at 6:37PM
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 Exp Realty LLC
Investment Insights
Based on property information with market context.
This Cape Coral duplex contains two residences, each with 2 bedrooms, 2 full bathrooms, and 1, 080 sq. ft. The units include living and dining areas, functional kitchens, and screened lanais that extend the usable space outdoors. Front parking serves both sides, while the absence of an HOA provides a straightforward ownership structure.
The property is positioned near shopping, restaurants, parks, schools, medical offices, and other everyday services. Main-road access supports travel throughout Cape Coral and surrounding areas. The two-unit configuration can accommodate separate households, shared family use, or an owner-occupant arrangement with the second residence used independently.
The property is positioned near shopping, restaurants, parks, schools, medical offices, and other everyday services. Main-road access supports travel throughout Cape Coral and surrounding areas. The two-unit configuration can accommodate separate households, shared family use, or an owner-occupant arrangement with the second residence used independently.
Key Highlights
- Two‑unit property with 2 bedrooms and 2 full bathrooms on each side
- Each side contains 1, 080 sq. ft.
- Screened lanai provided for both residences
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
$29,040
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
8.30%
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%
$580,800
$580.8K
Cap Rate 7%
$414,857
$414.9K
Cap Rate 9%
$322,667
$322.7K
Market Conditions
NOI Build-Up for 2,194 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
$43.4K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.5K $18.91/SF
− OpEx
−$12.4K −$5.67/SF
NOI
$29.0K $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%
$580,800
Cap Rate 7%
$414,857
Cap Rate 9%
$322,667
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.0K – $484.0K
NOI $29,040 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$569.3K
$498.1K – $664.2K
NOI $39,850 @ 7.0% cap · market cap 11.39%
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
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 33991, FL
26,381
Population
11,563
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,061
Density / Sq Mi
$82,927
Median Household Income
$41,773
Median Earnings
$1,914
Median Rent
$351,100
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 separate residences offer flexible occupancy, covered outdoor areas, front parking, and no HOA restrictions.
Where is this duplex located?
The property is located at A-b-3004 Santa Barbara Blvd Cape Coral, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit property with 2 bedrooms and 2 full bathrooms on each side; Each side contains 1, 080 sq. ft.; Screened lanai provided for both residences
