Income-Producing Duplex Near the
8331 WILKINS STREET, Port Richey, FL 34668
Duplex - PORT RICHEY, FL
Type:Duplex
Property size:
2,002 SFLot size:
0.18 AcresPrice / SF:
$224/SF- Added:
- Jan 27, 2026
- Days on Market:
- 111
- Last Refresh:
- May 18 at 7:06 am
Property Features for 8331 WILKINS STREET
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- R2
- Bedrooms
- 4
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- 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
- Standard status
- Active
- APN
- 16-25-29-076.0-000.00-052.0
- Size
- 2,002 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7056.2
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
Listing agent Mary Hayward Palazzolo License #3356079 (727) 255-4499
Listing office EXP REALTY LLC 10752 Deerwood Park Blvd., Suite 100, Jacksonville, FL (888) 883-8509
Listing date Jan 27, 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.
HighLights
- 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.
- Each unit features a 2‑bedroom, 2‑bath layout.
- Garage provides additional value and convenience.
- No HOA restrictions, allowing for flexible rental options.
Overview
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.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$259.6K
NOI $23,368 @ 9.00% cap · cautious / downside scenario
Moderate
$333.8K
NOI $23,368 @ 7.00% cap · market / base-case scenario
Aggressive
$467.4K
NOI $23,368 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.8k | $17.88 |
| − Vacancy | −$2.4k | −$1.21 |
| EGI | $33.4k | $16.67 |
| − OpEx | −$10.0k | −$5.00 |
| NOI | $23.4k | $11.67 |
2,002 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.5K
NOI $23,368 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$263.0K
$230.2K – $306.9K
NOI $18,413 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$456.0K
$399.0K – $532.1K
NOI $31,923 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Port Richey
- County
- Pasco
- State
- Florida
- Longitude
- -82.719896
- Latitude
- 28.278336
Nearby Similar for Sale
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 STREET 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.
