Duplex with Detached
For Sale
$279,900
5045 GREEN KEY Road, New Port Richey, FL 34652
Residential Income, NEW PORT RICHEY, FL
Property Size1,205 SF
Lot Size0.27 Acres
Price / SF$232.28
Days on Market188
Property Features for 5045 GREEN KEY Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Pets allowed
Dogs OK, Cats OK
Interior features
Thermostat
Exterior features
Fence
Fencing
Fenced
Subdivision
PORT RICHEY LAND CO SUB
Elementary school
James M Marlow Elementary-PO
Middle school
Gulf Middle-PO
High school
Gulf High-PO
Directions
FROM US-19 N TURN LEFT ON GREEN KEY ROAD. 0.2 MILES DESTINATION ON RIGHT.
Standard status
Active
APN
05-26-16-0180-01200-0030
Size
1,205 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PORT RICHEY LAND COMPANY SUB PB 1 PG 61 S 200 FT OF E 66 FT OF TRACT 12 LESS RD R/W OR 4349 PG 967
Tax Annual Amount
1573
Legal Description
PORT RICHEY LAND COMPANY SUB PB 1 PG 61 S 200 FT OF E 66 FT OF TRACT 12 LESS RD R/W OR 4349 PG 967
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
large screened in lanai
enclosed porch
Building Details
Year built
1930
Building materials
Block
Roof type
Shingle, Membrane
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
Chris Jhoda
(813) 388-0036
Added: Apr 17
Changed: Oct 21
Last Checked: Oct 21 at 10:06AM
MLS# TB8499091
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.
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Investment Insights
Based on property information with market context.
This 1,205-square-foot duplex on a 0.27-acre lot consists of a main residence and a detached unit, each configured with one bedroom and one bathroom. Renovations include flooring, kitchen cabinets, countertops, and a bathroom update. The property has a screened lanai and an enclosed porch, along with block construction, a fence, public water, and public sewer. The roof was replaced in 2026, and the HVAC system and water heater were updated in 2025.
Both units are occupied. Electric service is separately metered for each residence, while water is shared through one meter. The property is zoned R3 and was built in 1930. Nearby destinations named include Green Key Beach, downtown New Port Richey, Sims Park, and the Cotee River.
Both units are occupied. Electric service is separately metered for each residence, while water is shared through one meter. The property is zoned R3 and was built in 1930. Nearby destinations named include Green Key Beach, downtown New Port Richey, Sims Park, and the Cotee River.
Key Highlights
- Two residences, each with 1 bedroom and 1 bathroom
- 1,205 square feet on a 0.27‑acre lot
- Detached second unit alongside the main residence
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.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,058
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both one-bedroom residences are occupied, with separate electric meters and a shared water meter.
Where is this duplex located?
The property is located at 5045 GREEN KEY Road 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: Two residences, each with 1 bedroom and 1 bathroom; 1,205 square feet on a 0.27‑acre lot; Detached second unit alongside the main residence
