648 Carolina Avenue, Fort Myers, FL 33905

Local realty services provided by:ERA Real Solutions Realty
#1#2#3
648 Carolina Avenue,Fort Myers, FL 33905
$339,000
  • 4 Beds
  • 2 Baths
  • 2,064 sq. ft.
  • Multi-family
  • Active
Listed by:nikijha lynch
Office:rb real estate llc.
MLS#:224096021
Source:FL_GFMB

Price summary

  • Price:$339,000
  • Price per sq. ft.:$164.24

About this home

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

Contact an agent

contact an agent

Yes, I would like more information from ERA®. Please use and/or share my information with an ERA affiliated agent to contact me about my real estate needs. By clicking Send message, I agree an ERA affiliated agent may contact me by phone or text message including by automated means about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1971
  • Listing Id #:224096021
  • Added:267 day(s) ago
  • Updated:August 21, 2025 at 02:46 PM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:2
  • Full bathrooms:2
  • Living area:2,064 sq. ft.

Heating and cooling

  • Cooling:Window Units

Structure and exterior

  • Roof:Metal
  • Year built:1971
  • Building area:2,064 sq. ft.

Utilities

  • Sewer:Septic Tanks

Finances and disclosures

  • Price:$339,000
  • Price per sq. ft.:$164.24
  • Tax amount:$2,331 (2023)
The source of the information about real property available for sale or rent is the copyrighted and proprietary database of the Florida Gulf Coast Multiple Listing Service, Inc.. Copyright 2025 Florida Gulf Coast Multiple Listing Service, Inc.; all rights reserved. The data is provided by the IDX Program, and the Information is Deemed Reliable But Not Guaranteed.

New listings near 648 Carolina Avenue