- 4 beds
- 2 baths
- 2,064 sqft
- $164 per sqft
- 1971 build
- – on site
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.
Last checked:
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Last updated Jul 1, 2025
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MLS# 224096021 —
The Building
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Year Built:1971
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Construction Materials:Block,Concrete,Stucco
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Building Area Total:2064.0
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Architectural Style:Duplex
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Roof:Metal
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Exterior Features:None
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Window Features:SingleHung
Interior
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Flooring:Vinyl
Financial & Terms
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Possession:CloseOfEscrow
Location
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Directions:648 Carolina Ave is situated in the Tice area of Fort Myers, Florida. The property is located between Glenwood Avenue and Tice Street, providing convenient access to major thoroughfares. To reach the property, you can take Glenwood Avenue from Palm Beach Boulevard (State Road 80) or Tice Street from Ortiz Avenue. These routes offer straightforward access to the property.
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Latitude:26.665148
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Longitude:-81.81636
The Property
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Property Type:ResidentialIncome
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Property Subtype:Duplex
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Property Subtype Additional:Duplex
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Property Condition:Resale
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Lot Features:RectangularLot
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Lot Size Acres:0.296
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Lot Size Area:0.296
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Lot Size Units:Acres
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Lot Size Source:Appraiser
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Lot Size Dimensions:90 x 146 x 88 x 144
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Lot Dimensions Source:Appraiser
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Zoning Description:AG-2
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Parcel Number:09-44-25-04-00009.0000
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Structure Type:Duplex
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Waterfront:false
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Waterfront Features:None
Listing Agent
- Contact info:
- Agent phone:
- (239) 333-8559
- Office phone:
- (239) 293-4544
Taxes
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Tax Year:2023
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Tax Lot:12
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Tax Legal Description:BLOUNTS N S 5 ACRE FARMS PB 4 PG 66 W 1/2 OF LOT 12 DESC IN OR 4116/2116
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Tax Annual Amount:2330.88
Beds
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Total Bedrooms:4
Baths
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Total Baths:2
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Full Baths:2
Heating & Cooling
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Heating:None
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Heating:false
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Cooling:WindowUnits
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Cooling:true
Utilities
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Utilities:CableNotAvailable
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Sewer:SepticTank
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Water Source:AssessmentPaid
The Community
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Subdivision Name:TICE HEIGHTS
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Association Amenities:None
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Spa:false
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Pool Private:false
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Pets Allowed:Yes
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).