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    8331 Wilkins St Port Richey, FL 34668

    Sponsored
    For Sale
    $450,000

    Duplex - PORT RICHEY, FL

    Type:Duplex
    Property size:
    2,002 SF
    Lot size:
    0.18 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 1 at 12:06 pm

    Property Features for 8331 Wilkins St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Zoning
    R2
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    8
    APN
    16-25-29-076.0-000.00-052.0
    Parking features
    Driveway, Garage, Garage - Attached, Guest, On Street
    Interior features
    Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Solid Surface Counters, Thermostat
    Exterior features
    Paved, Rain Gutters, Sliding Doors, Storage
    Appliances
    Dishwasher, Microwave, Oven - Convection, Range, Refrigerator, Washer
    Size
    2,002 SF
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1973
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Block, Stucco
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Mary Hayward Palazzolo

    eXp Realty LLC (888) 883-8509

    Listing agent Mary Hayward Palazzolo (888) 883-8509 License #3356079

    Listing date Feb 1, 2026

    MLS# TB8469742 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Income-Producing Duplex Near the Gulf

    This income-producing duplex is located at 8331 Wilkins St. & 5719 Berlin in Port Richey, Florida. Designed for investors, this multi-unit property offers flexibility and strong short-term rental appeal, situated a short walk from the Gulf. Each unit features a 2-bedroom, 2-bath layout and has been fully updated with new appliances, electrical, plumbing, and A/C systems. Renovations provide modern comfort while reducing near-term maintenance concerns, making it suitable for both short-term and long-term rental strategies. A garage adds additional value and convenience. Currently operating as a short-term rental, this property is positioned for continued income generation. Its proximity to the water, marinas, and boating access makes it appealing to vacationers and seasonal guests. Located off Highway 19 and Ridge Road, the duplex is close to restaurants, shopping, parks, festivals, and local attractions, combining accessibility and lifestyle appeal. With no HOA restrictions, this property allows flexibility for a variety of rental uses. The property sits on a lot of approximately 0.18 acres and has a building size of 2002 square feet. The zoning is R2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.719896
    Latitude
    28.278336

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    FAQs

    What type of property is this?
    Duplex - Remodeled duplex near the Gulf, ideal for short-term rentals.
    Where is this duplex located?
    The property is located at 8331 Wilkins St Port Richey, FL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Income-producing duplex with strong short-term rental history and potential.; - **Newly remodeled with all-new appliances, electrical, plumbing, and A/C systems.**; - Desirable location near the Gulf, marinas, and boating access.
    (888) 883-8509
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    8331 Wilkins St Port Richey, FL 34668
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8331 Wilkins St Port Richey, FL 34668
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    We can help!
    Listing Contact
    Mary Hayward Palazzolo
    Real Estate License ID: 3356079
    (888) 883-8509
    Learn more
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