Garden Condo Near US
For Sale
$119,000
4242 REDCLIFF PLACE 4242, New Port Richey, FL 34652
Two-bedroom condo with community pool, close to beaches and amenities.
Property Size831 SF
Lot Size7.90 Acres
Price / SF$143.20
Days on Market901
Property Features for 4242 REDCLIFF PLACE 4242
General Information
Standard status
Active
Size
831 SF
Lot size
7.90 Acres
Property subtype
Condo/Townhome
Building Details
Year Built
1970
Listing Agency:
BUXTON PROPERTIES INC
(727) 455-5541
Listed By:
Ahmad Maki Kubba · License #595500
(727) 455-5541
Source:
Exitrealty
Added: Feb 13, 2024
Changed: Jul 6
Last Checked: Aug 2 at 5:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BUXTON PROPERTIES INC
Investment Insights
Based on property information with market context.
This garden-level condo in New Port Richey features two bedrooms and one bath. Residents can enjoy a community pool and on-site laundry facilities. The property is located minutes from US 19, providing convenient access to Tampa and nearby beaches. Several family parks, shopping centers, and restaurants are located in the area. Tourist attractions such as Crystal River and Weeki Wachee are also within driving distance. The HOA fees are $500 per month, covering water, sewer, trash, cable, and Wi-Fi. There are no age restrictions for residents. The property is currently rented at $1350 per month, with the current lease ending on July 31st. The property size is 831 square feet.
Key Highlights
- Currently rented at $1350/month, presenting an immediate income opportunity.
- HOA fee of $500/month includes water, sewer, trash, cable, and Wi‑Fi.
- Convenient location near US 19, providing easy access to Tampa and beaches.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.0k | $18.00 |
| − Vacancy | −$1.1k | −$1.28 |
| EGI | $13.9k | $16.72 |
| − OpEx | −$6.3k | −$7.52 |
| NOI | $7.6k | $9.20 |
831 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$109.2K
$95.5K – $127.4K
NOI $7,643 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$189.3K
$165.6K – $220.9K
NOI $13,251 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
581
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
Properties on Market for Residential income properties in New Port Richey
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with community pool, close to beaches and amenities.
Where is this residential income property located?
The property is located at 4242 REDCLIFF PLACE 4242 New Port Richey, FL.
What is the asking price?
The asking price for this property is $119,000.
What are key features of this property?
This property features: Currently rented at $1350/month, presenting an immediate income opportunity.; HOA fee of $500/month includes water, sewer, trash, cable, and Wi‑Fi.; Convenient location near US 19, providing easy access to Tampa and beaches.
