Shared Living Duplex – 10.5% Cap Rate | Room-by-Room Agreement Model 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.
For sale
Price cut: $26K (6/2)
$339,000
648 Carolina AVE, FORT MYERS, FL 33905
4beds
--sqft
Est.:
Duplex
Built in 1971
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 269 days
- on Zillow |
- 77 |
- 8 |
Zillow last checked: 7 hours ago
Listing updated: July 01, 2025 at 01:53pm
Listed by:
Nikijha Lynch 239-333-8559,
RB Real Estate LLC
Source: SWFLMLS,MLS#: 224096021
Originating MLS: Bonita Springs

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Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- None
Cooling
- Window Unit(s)
Features
- Flooring: Vinyl
- Has fireplace: No
Property
Features
- Waterfront features: None
Lot
- Size: 0.3 Acres
- Features: Regular
Details
- Parcel number: 0944250400009.0000
- Zoning: AG-2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Block, Stucco
- Foundation: Concrete Block
- Roof: Metal
Condition
- New construction: No
- Year built: 1971
Utilities & green energy
- Sewer: Septic Tank
- Water: Assessment Paid
Community & HOA
Community
- Features: No Subdivision
- Subdivision: TICE HEIGHTS
HOA
- Amenities included: None
Location
- Region: Fort Myers
Financial & listing details
- Annual tax amount: $2,330
- Date on market: 11/26/2024
- Lease term: Buyer Finance/Cash
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