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For sale
  • Price cut: $26K (6/2)
    $339,000

    648 Carolina AVE, FORT MYERS, FL 33905

    4beds
    --sqft
    : 
    Duplex
    Built in 1971
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    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.
    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#: 224096021MLS LogoOriginating MLS: Bonita Springs
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 648 Carolina AVE.

    Next available tour time:Tomorrow at 11am

    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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