Duplex with Updated
New
For Sale
$310,000
5374/5376 SCHOOL Road, New Port Richey, FL 34652
Residential Income, NEW PORT RICHEY, FL
Property Size1,484 SF
Lot Size0.15 Acres
Price / SF$208.89
Days on Market5
Property Features for 5374/5376 SCHOOL Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Solid Wood Cabinets, Thermostat
Exterior features
Fence, Lighting, Private Mailbox
Fencing
Fenced
Appliances
Electric Water Heater, Freezer, Refrigerator
Subdivision
CRAFTS SUB
Lot features
Paved
Elementary school
Richey Elementary School
Middle school
Gulf Middle-PO
High school
Gulf High-PO
Directions
Heading south on Madison St, Take a right on School Rd. Property will be on right.
Standard status
Active
APN
08 26 16 0260 00400 0020
Size
1,484 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C E CRAFTS NO 5 PB 2 PG 62 EAST 1/2 OF LOT 2 & WEST 1/2 OF LOT 3 BLOCK 4
Tax Annual Amount
3749
Legal Description
C E CRAFTS NO 5 PB 2 PG 62 EAST 1/2 OF LOT 2 & WEST 1/2 OF LOT 3 BLOCK 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
shed
washer/dryer hookup
Building Details
Year built
1979
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
COLDWELL BANKER REALTY
(813) 286-6563
Listed By:
Steven Noyes
(727) 364-6857
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:06AM
MLS# TB8551173
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,484-square-foot duplex sits on a 0.15-acre lot and was built in 1979. Recent work includes a new shingle roof with hurricane-force shingles and a transferable warranty, fresh exterior and interior paint, new doors and electrical receptacles, and remodeled bathrooms with new vanities, toilets, and lighting. Unit 5374 also has new windows and a remodeled kitchen with new cabinets and countertop.
A backyard shed provides storage and includes washer and dryer connections. The property has MF1 zoning, central air, electric heat, public water, and public sewer.
A backyard shed provides storage and includes washer and dryer connections. The property has MF1 zoning, central air, electric heat, public water, and public sewer.
Key Highlights
- Two‑unit duplex with 1,484 square feet on a 0.15‑acre lot
- New shingle roof with hurricane‑force shingles and transferable warranty
- Unit 5374 has new windows and a remodeled kitchen with new cabinets and countertop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,322
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,440
$346.4K
Cap Rate 7%
$247,457
$247.5K
Cap Rate 9%
$192,467
$192.5K
Market Conditions
NOI Build-Up for 1,484 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.5K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$24.7K $16.67/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$17.3K $11.67/SF
Area
Pasco County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,440
Cap Rate 7%
$247,457
Cap Rate 9%
$192,467
Alternative Uses
Best Use
Multifamily LT 5
$247.5K
$216.5K – $288.7K
NOI $17,322 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$195.0K
$170.6K – $227.5K
NOI $13,648 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$338.0K
$295.8K – $394.4K
NOI $23,663 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 34652, FL
26,697
Population
14,700
Households
1.8
Avg Household Size
51
Median Age
20%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,104
Density / Sq Mi
$52,396
Median Household Income
$36,819
Median Earnings
$1,189
Median Rent
$198,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property includes a detached storage shed with washer and dryer connections.
Where is this duplex located?
The property is located at 5374/5376 SCHOOL Road New Port Richey, FL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,484 square feet on a 0.15‑acre lot; New shingle roof with hurricane‑force shingles and transferable warranty; Unit 5374 has new windows and a remodeled kitchen with new cabinets and countertop
