721-723 Southwest 40th Terrace

Cape Coral, FL 33914

$649,000
Price
6
Beds
4
Baths
2,400 Sq. Ft.
$270 / Sq. Ft.
2,400
Sq. Ft.
$270
per Sq. Ft.

Description

Introducing a fantastic opportunity in SWFL, this duplex offers a desirable layout with three bedrooms and two bathrooms on each side. Whether you're looking for a primary residence or an investment property, this duplex has the potential to meet your needs. One of the standout features of this property is its great rental income potential. With two separate units, you have the option to rent out each side, maximizing your investment returns. The spacious three-bedroom layouts provide ample space...Introducing a fantastic opportunity in SWFL, this duplex offers a desirable layout with three bedrooms and two bathrooms on each side. Whether you're looking for a primary residence or an investment property, this duplex has the potential to meet your needs. One of the standout features of this property is its great rental income potential. With two separate units, you have the option to rent out each side, maximizing your investment returns. The spacious three-bedroom layouts provide ample space for tenants, making it an attractive option for potential renters. Located on a gulf access canal, this duplex offers the added benefit of waterfront living. Imagine having the convenience of a boat dock right at your doorstep, allowing you to easily explore the beautiful waterways of SWFL. Whether you're a boating enthusiast or simply enjoy the tranquility of waterfront living, this feature adds tremendous value to the property. In addition to its prime location and rental income potential, this duplex also offers versatility. You can choose to live in one unit and rent out the other, providing you with a source of income while enjoying the benefits of homeownership. Alternatively, you can rent out both units and generate a steady stream of rental income. Overall, this duplex in SWFL presents an exciting opportunity for both investors and those seeking a new home. With its spacious three-bedroom layouts, great rental income potential, and waterfront location with a boat dock, it offers a unique combination of comfort, convenience, and financial benefits. Don't miss out on the chance to own this versatile property in a highly sought-after area.

Property Details for 721-723 Southwest 40th Terrace

Development
CAPE CORAL
Building Design
Duplex
Community Type
Boating, No Subdivision
Waterfront
Yes
Waterfront Desc
Canal Access, Seawall
Waterfront Desc
Canal, Seawall
View
None/Other

Location

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LISTING UPDATED: 03/03/2024 10:29 AM

Property Details for 721-723 Southwest 40th Terrace

StatusActive
MLS #224020803
Days on Market61
Taxes$8,768 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2018
Lot Size0.24 AC / 10,628 SF
CountyLee County

Location

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Building Information for 721-723 Southwest 40th Terrace

Stories-Residences2Year Built2018Building Size-Lot Size0.24 AC / 10,628 SF

Payment Calculator

$4,273 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,542

Property Taxes

$731

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 721-723 Southwest 40th Terrace

Summary
Location and General Information
  • City: CAPE CORAL
  • Human Modified: Yes
  • Latitude: 26.58
  • Longitude: -81.99
  • MLS Area Major: CC21 - Cape Coral Unit 3,30,44,6
  • Pets: No Approval Needed
  • Postal Code: 33914
  • Road Responsibility: Public Maintained Road
  • Road Surface Type: Paved
  • Street Direction Prefix: SW
  • Street Name: 40th
  • Street Number: 721-723
  • Street Suffix: TER
  • Block: 1729
  • Full Address: 721-723 SW 40th TER
Parking
  • Covered Spaces: .00
Taxes and HOA Information
  • Amenity Rec Fee: $.00
  • Application Fee: $.00
  • HOA Fee: $.00
  • Tax Annual Amount: $8,767.68
  • Tax Year: 2023
  • Transfer Fee: $.00
  • Association Fee 3: $.00
Property
Lot Information
  • Development Name: CAPE CORAL
  • Property Type: Residential Income
  • Section: 11
  • Lot Unit: 32
  • Source of Measure Lot Dimensions: Appraiser
  • Lot Desc: Oversized Lot, Sprinklers Automatic
  • Acres: 0.244
  • Lot Size Area: 0.244
  • Lot Size Dimensions: 85 x 125 x 85 x 125
  • Source of Measurements: Appraiser
  • Lot Size Units: Acres
  • Legal Desc: CAPE CORAL UNIT 44 BLK 1729 PB 21 PG 111 LOTS 32 + 33
Property and Assessments
  • Total Area: 2400.0
  • Possession: Close Of Escrow, Subject To Tenant Rights
  • Property Condition: Resale
  • Property Sub Type: Duplex
  • Township: 45
  • Range: 23
  • Special Assessment: 0.00
  • Sub Condo Name: CAPE CORAL
  • Year Built Numeric: 2018
  • Property Sub Type Additional: Duplex
  • Zoning Code: R3-W
Lease Information
  • Land Lease Fee: $.00
  • Lease Amount Per Area Unit: Dollars Per Square Foot
  • One Time Land Lease Fee: $.00
  • One Time Mandatory Club Fee: $.00
  • One Time Othe Fee: $.00
  • One Time Special Assessment Fee: $.00
Utilities
  • Sewer: Assessment Paid, Central
  • Water Source: Assessment Paid, Public
  • Water: Assessment Paid, Central
Multi Family
Multi-Family Information
  • Gross Rental Income: $52,800.00
  • Annual Net Operating Income: $12,000.00
  • Annual Food And Beverage Minimum: 0.00
  • Number Of Units Total: 2
  • Annual Expenses: $12,000.00
  • Other Fee: $.00
  • Units in Building: 2
Unit 1 Information
  • Monthly Gross Income: $.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Description: Laundry in Residence,Screened Lanai/Porch,Auto Garage Door,Ceiling Fan(s),Dishwasher,Microwave,Range,Refrigerator,Washer/Dryer Hookup
  • Furnished: Unfurnished
  • Garage Type: Yes
  • Unit Type Garage Spaces: 1.00
  • Unit Type Pro Forma: 0
  • Unit Type Type: Item3Bedroom
  • Unit Type Num Full Baths: 2
  • Unit Type Num Half Baths: 0
  • Living Area: 1200.0
Unit 2 Information
  • Monthly Gross Income: $2,200.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Description: Laundry in Residence,Screened Lanai/Porch,Auto Garage Door,Ceiling Fan(s),Dishwasher,Microwave,Range,Refrigerator,Washer/Dryer Hookup
  • Furnished: Unfurnished
  • Garage Type: Yes
  • Unit Type Garage Spaces: 1.00
  • Unit Type Pro Forma: 2200
  • Unit Type Type: Item3Bedroom
  • Unit Type Num Full Baths: 2
  • Unit Type Num Half Baths: 0
  • Living Area: 1200.0
Interior and Exterior Features
Exterior Features
  • Architectural Style: Duplex
  • Association Amenities: None
  • Canal Width: Canal Width 31-80
  • Community Features: Boat Facilities
  • Construction: Poured Concrete, Concrete Block
  • Exterior Features: Sprinkler Irrigation, Patio, Room For Pool
  • Exterior Features: Patio, Room for Pool, Sprinklers Auto
  • Irrigation Source: Municipal, Includedin Assessment
  • Patio And Porch Features: Patio
  • Private Pool: No
  • Roof: Shingle
  • Structure Type: Duplex
  • Gulf Access Type: Bridges, Water Indirect
  • Gulf Access: Yes
  • Spa: No
Interior Features
  • Baths Full: 4
  • Bathrooms Total Integer: 4.0
  • Beds Total: 6
  • Cooling: Central Air, Electric
  • Cooling: Yes
  • Elevator Text Details: None
  • Flooring: Tile
  • Heating: Central, Electric
  • Heating: Yes
  • Window Features: Display Windows
Rental
Rental Information
  • One Time Rec Lease Fee: $.00

Property History for 721-723 Southwest 40th Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 721-723 Southwest 40th Terrace

Taxable ValueLand$58,000Additions$268,228Total$326,228
Tax Record2020$6,459 ($538 / month)
Home Facts
Total Finished SqFt2,396 SqFtAbove Grade Finished SqFt2,396 SqFtStories1Lot Size10,629 SqFtStyleMulti-Family Res (5+ Units)Year Built2018Year Renovated2018ZoningR3-WCountyLEEAPN114523C1017290320

Schools near 721-723 Southwest 40th Terrace

This home is within Lee.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 5
Public - PK to 5
Public - PK to 5
Rating
School
Distance
Tropic Isles Elementary School
PublicPK to 5

Hancock Creek Elementary School
PublicPK to 5

Hector A. Cafferata Jr Elementary School
PublicPK to 5

Diplomat Elementary School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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721-723 Southwest 40th Terrace is a multi-family home for sale in Cape Coral, FL 33914. This property was listed for sale on March 3, 2024, it's currently listed at $649,000. It has been on the market for a total of 61 days and was last sold on February 13, 2023. This listing's school district is Lee. Nearby schools include Tropic Isles Elementary School, Hancock Creek Elementary School and Hector A. Cafferata Jr Elementary School. 721-723 Southwest 40th Terrace is a 6-bed, 4-bath, 2,400 sqft multi-family home built in 2018.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

The information is being provided in part by Southwest Florida Multiple Listing Service, Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2, and MarcoMls. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Southwest Florida Multiple Listing Service and MarcoMls. All Rights Reserved. The data relating to real estate for sale displayed on this website comes in part from the Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2 and MarcoMls. Properties listed with brokerage firms other than Compass are marked with the "BR House" logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the Naples MLS BR Program, or contained in the database compilation of Naples MLS.