Cape Coral REO Foreclosure Duplexes For Sale
We assist in the purchase transaction for duplexes in Cape Coral, FL for all investors and homeowners. With our offices conveniently located in Fort Myers, we have a constant pulse on the market and have a variety of duplexes in the foreclosure process or are already in REO status with the local banks. With a unique experience level in foreclosures, we know we can be your best bet to a secure investment.
Older Cape Coral REO duplexes have strong structural integrity. All duplexes are built using CBS construction and maintain very easily. With personal experience of owning property in Cape Coral built as far back as 1962, I can say that in my 2 years of owning it, I never had to do anything to it during my landlord status. Duplexes built 1980 and more recent, you can find for under $100,000. Units will typically rent for $600 per month or $1,200 for both sides total. Tenants pay for all utilities. All duplex built in this age range all have set and paid for utility expansion of city water and sewer. Taxes for such properties range from $2,200 to $3,600 per year and annual insurance for an investor using the duplex as income property will run approximately $1,000 annually. Cap rates for investors range from 8% to 10% on Cape Coral duplexes.
For duplexes built 2000 and newer, prices are in the low to mid $100,000 with a median at about $150,000. These duplexes at peak value were listed at $400,000 and higher so the discount on newer Cape Coral duplexes is significant. Duplexes will occasionally come with garages which is a plus.
We have duplexes on freshwater canals and dry lots. Gulf Access is available upon request.
Cape Coral, Florida is a wonderful city in Lee County and until 2006 was thriving with new development and future plans. Although these plans have been put on hold, the area has way to many amenities to negate all future planning. Cape Coral is still a world reknown destination for sun, palm trees, fishing, and boating. You can find beautiful marinas with fine dining, casual entertainment, and great people.
There are only 36 Cape Coral, FL duplexes for sale. Fewer than 15 of them make financial sense so it is recommended to act soon as the market is significantly improving in Lee County. INVESTOR MAGAZINE rated Ft. Myers / Cape Coral as the #1 recovering real estate market in the country.. Call us for a free pro forma consultation.
If you are interested in Cape Coral duplexes for sale or foreclosure REO property in Lee County, please contact us and we will be happy to share our inventory with you. You can also call us toll free at 877-688-7582. Ask for Scott
Below’s slideshow is an example of duplexes that we have assisted in selling or have personally viewed the properties.
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