648 Carolina AVE Fort Myers, FL 33905
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Tice Heights
MLS Listing ID 224096021
Style Resale Property
Bedrooms 4
Full Baths 2
HOA Y/N No
Year Built 1971
Annual Tax Amount $2,330
Tax Year 2023
Lot Size 0.296 Acres
Acres 0.296
Property Sub-Type Duplex
Source Bonita Springs
Property Description
Positioned for maximum yield, this duplex is currently operated under a room-by-room agreement model, generating $48,000/year in gross income. With Net Operating Income of $35,558, the property delivers a 10.5% Cap Rate and GRM of 7.06, outperforming traditional rental configurations in the area.
The structure offers 4 bedrooms, 2 bathrooms, and over 2,060 sq ft, with stable, long-term tenants and low turnover. The layout supports individual occupancy per room, offering tenants affordable housing while maximizing investor returns.
Located in the Tice neighborhood, the property benefits from access to employment centers, public transportation, and strong rental demand.
Priced at $339,000
Professionally managed
Room-by-room agreements in place
Operating expenses: $12,442
Traditional rental comparison available
This opportunity offers investors a high-performing asset with immediate cashflow and potential for long-term equity growth.
Location
State FL
County Lee
Community No Subdivision
Area Tice Heights
Zoning AG-2
Interior
Heating None
Flooring Vinyl
Fireplace No
Heat Source None
Exterior
Amenities Available None
Waterfront Description None
Roof Type Metal
Garage No
Private Pool No
Building
Lot Description Regular
Sewer Septic Tank
Water Assessment Paid
Architectural Style Duplex
Structure Type Concrete Block,Stucco
New Construction No
Others
Pets Allowed Yes
Senior Community No
Tax ID 09-44-25-04-00009.0000
