Renovated Duplex with Detached
For Sale
$279,900
5045 Green Key Rd, New Port Richey, FL 34652
Fully occupied two-unit property with separate living areas, updated interiors, and no HOA.
Property Size1,205 SF
Lot Size0.27 Acres
Price / SF$232.28
Days on Market183
Property Features for 5045 Green Key Rd
General Information
Standard status
Active
Size
1,205 SF
Lot size
0.27 Acres
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,573
Amenities
screened lanai
enclosed porch
Building Details
Buildings
2
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
Chris Jhoda · License #3479013
(813) 388-0036
Source:
Exprealty
Added: Apr 19
Changed: Oct 17
Last Checked: Oct 16 at 9:37AM
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 REAL BROKER, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 5045 Green Key Rd in New Port Richey, this 1,205-square-foot duplex includes a 2-bedroom, 2-bathroom main residence and a detached 1-bedroom, 1-bathroom unit. Both residences provide separate living spaces. Interior and exterior renovations include new flooring, countertops, kitchen cabinets, and an updated bathroom. A screened lanai and enclosed porch add covered outdoor areas.
The property occupies 0.27 acres and is fully occupied. Electric service is separately metered for each unit, while water is shared through one meter. Major system updates include a roof installed in 2026, HVAC replaced in 2025, and a 2025 water heater. A completed 4-point inspection, wind mitigation report, and floor plan are included with the listing. The property is near Green Key Beach, downtown New Port Richey, Sims Park, the Cotee River, shopping, dining, and major roadways.
The property occupies 0.27 acres and is fully occupied. Electric service is separately metered for each unit, while water is shared through one meter. Major system updates include a roof installed in 2026, HVAC replaced in 2025, and a 2025 water heater. A completed 4-point inspection, wind mitigation report, and floor plan are included with the listing. The property is near Green Key Beach, downtown New Port Richey, Sims Park, the Cotee River, shopping, dining, and major roadways.
Key Highlights
- Fully occupied 1,205‑square‑foot duplex at 5045 Green Key Rd, New Port Richey, FL
- Main residence offers 2 bedrooms and 2 bathrooms; detached unit has 1 bedroom and 1 bathroom
- Set on a 0.27‑acre lot with a screened lanai and enclosed porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,065
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,300
$281.3K
Cap Rate 7%
$200,929
$200.9K
Cap Rate 9%
$156,278
$156.3K
Market Conditions
NOI Build-Up for 1,205 SF
Gross rent
$21.5K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.1K $16.67/SF
− OpEx
−$6.0K −$5.00/SF
NOI
$14.1K $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 Rate 5%
$281,300
Cap Rate 7%
$200,929
Cap Rate 9%
$156,278
Alternative Uses
Best Use
Multifamily LT 5
$200.9K
$175.8K – $234.4K
NOI $14,065 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$158.3K
$138.5K – $184.7K
NOI $11,083 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$274.5K
$240.2K – $320.2K
NOI $19,214 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
719
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
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with separate living areas, updated interiors, and no HOA.
Where is this duplex located?
The property is located at 5045 Green Key Rd New Port Richey, FL.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Fully occupied 1,205‑square‑foot duplex at 5045 Green Key Rd, New Port Richey, FL; Main residence offers 2 bedrooms and 2 bathrooms; detached unit has 1 bedroom and 1 bathroom; Set on a 0.27‑acre lot with a screened lanai and enclosed porch
