Duplex with Attached
For Sale
$299,900
Pending
5800-5808 MADISON Street, New Port Richey, FL 34652
Residential Income, NEW PORT RICHEY, FL
Property Size1,600 SF
Lot Size0.17 Acres
Days on Market15
Property Features for 5800-5808 MADISON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3
Interior features
Open Floorplan
Exterior features
Sidewalk
Subdivision
NEW PORT RICHEY CITY
Directions
South from Main Street on Madison to address.
Standard status
Pending
APN
16-26-09-003.0-165.00-009.0
Size
1,600 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
NPR MB 4 PG 49 LOT 9 BK 165 165 RB 626 PG 340
Tax Annual Amount
3113
Legal Description
NPR MB 4 PG 49 LOT 9 BK 165 165 RB 626 PG 340
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
laundry hook-ups
Building Details
Year built
1969
Floors in Building
1
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
RE/MAX SUNSET REALTY · RE/MAX International
(727) 863-2402
Listed By:
Brian Pfister · License #3040827
(813) 690-5898
Added: Aug 15
Changed: Aug 25
Last Checked: Aug 29 at 9:06PM
MLS# W7888636
Copyright © 2026 West Pasco Board of Realtors. 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 1,600-square-foot duplex contains two residential units, each with two bedrooms and one bathroom. The concrete-block building offers ceramic tile flooring, open floorplans, and kitchens and bathrooms described as being in great condition. Each unit includes an attached garage with enclosed parking or storage capacity and laundry hookups. A new shingle roof was installed in 2024.
Both units are occupied by long-term tenants. The property is zoned R3 and sits on a 0.17-acre lot with public water and public sewer. Additional property features include electric and ductless heating, window or wall/window cooling units, and a sidewalk. The property information also states that flood insurance is not required.
Both units are occupied by long-term tenants. The property is zoned R3 and sits on a 0.17-acre lot with public water and public sewer. Additional property features include electric and ductless heating, window or wall/window cooling units, and a sidewalk. The property information also states that flood insurance is not required.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1,600 square feet on a 0.17‑acre lot
- Attached garage for each unit, with laundry hookups
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
$18,676
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
6.23%
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%
$373,520
$373.5K
Cap Rate 7%
$266,800
$266.8K
Cap Rate 9%
$207,511
$207.5K
Market Conditions
NOI Build-Up for 1,600 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
$28.6K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$26.7K $16.67/SF
− OpEx
−$8.0K −$5.00/SF
NOI
$18.7K $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%
$373,520
Cap Rate 7%
$266,800
Cap Rate 9%
$207,511
Alternative Uses
Best Use
Multifamily LT 5
$266.8K
$233.5K – $311.3K
NOI $18,676 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$210.2K
$183.9K – $245.3K
NOI $14,715 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$364.5K
$318.9K – $425.2K
NOI $25,513 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,469
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two long-term leased units feature ceramic tile, refreshed kitchens and baths, plus private laundry hookups.
Where is this duplex located?
The property is located at 5800-5808 MADISON Street New Port Richey, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; 1,600 square feet on a 0.17‑acre lot; Attached garage for each unit, with laundry hookups
