Renovated Duplex with Short-Term Rental
5635 MONTANA Avenue, New Port Richey, FL 34652
For Sale
$425,000
Residential, NEW PORT RICHEY, FL
Property Size1,008 SF
Lot Size0.17 Acres
Price / SF$421.63
Days on Market132
Property Features for 5635 MONTANA Avenue
General Information
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Full bathrooms
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Parking features
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Subdivision
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Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
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Building Details
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Buildings
Listing Agency:
FLORIDA LUXURY REALTY INC
(727) 372-6611
Listed By:
Wendy Stevens · License FL #3024846
(561) 301-4000
Added: Jul 2
Changed: Oct 23
Last Checked: Nov 10 at 10:06PM
MLS# W7887260
Copyright © 2026 West Pasco Board of Realtors. 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
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This duplex, constructed in 1983, contains two renovated residences within approximately 1,008 square feet on a 0.17-acre parcel. The layout includes two bedrooms and two bathrooms, with open living areas, an eat-in kitchen, solid wood cabinetry, solid surface counters, ceiling fans, walk-in closets, and vinyl flooring. Central electric heating and central air conditioning serve the property. Exterior features include a private yard, rain gutters, shingle roofing, and tandem driveway parking, with additional on-street parking available.
Both units currently operate as short-term rentals. The property is located near the downtown district, with restaurants, breweries, shopping, Sims Park, and recurring community events within walking distance. Public water and public sewer are in place, and the property is zoned MF2. Additional systems and features include an electric water heater, cable availability, concrete block, brick, and stucco construction, and a 1983 construction date.
Both units currently operate as short-term rentals. The property is located near the downtown district, with restaurants, breweries, shopping, Sims Park, and recurring community events within walking distance. Public water and public sewer are in place, and the property is zoned MF2. Additional systems and features include an electric water heater, cable availability, concrete block, brick, and stucco construction, and a 1983 construction date.
Key Highlights
- Two‑unit duplex built in 1983
- Approximately 1,008 square feet on a 0.17‑acre lot
- Both residences have been renovated and operate as short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,712
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,240
$254.2K
Cap Rate 7%
$181,600
$181.6K
Cap Rate 9%
$141,244
$141.2K
Market Conditions
NOI Build-Up for 1,008 SF
Gross rent
$20.2K $20.04/SF
− Vacancy
−$2.0K −$2.02/SF
EGI
$18.2K $18.02/SF
− OpEx
−$5.4K −$5.40/SF
NOI
$12.7K $12.61/SF
Area
Pasco County, FL
Vacancy
10.10%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,240
Cap Rate 7%
$181,600
Cap Rate 9%
$141,244
Alternative Uses
Best Use
Multifamily LT 5
$181.6K
$158.9K – $211.9K
NOI $12,712 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$172.3K
$150.8K – $201.0K
NOI $12,062 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$314.4K
$275.1K – $366.8K
NOI $22,006 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
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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
$198,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in New Port Richey, FL
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer flexible living arrangements with central downtown access and public water and sewer service.
Where is this duplex located?
The property is located at 5635 MONTANA Avenue New Port Richey, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1983; Approximately 1,008 square feet on a 0.17‑acre lot; Both residences have been renovated and operate as short‑term rentals
