Renovated Short-Term Rental
5635 MONTANA Avenue, New Port Richey, FL 34652
For Sale
$425,000
Residential Income, NEW PORT RICHEY, FL
Property Size1,008 SF
Lot Size0.17 Acres
Price / SF$421.63
Days on Market93
Property Features for 5635 MONTANA Avenue
General Information
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Subdivision
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Standard status
APN
Size
Lot size
Additional Details
Currently Operating
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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: Aug 12
Changed: Nov 6
Last Checked: Nov 12 at 7:06AM
MLS# W7888529
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 duplex contains 1,008 square feet across two residential units, both renovated and operated as short-term rentals. Built in 1983, the property features open floorplans, eat-in kitchens, solid wood cabinetry, solid surface counters, vinyl flooring, central heating and cooling, and primary bedrooms on the main floor. Block, brick, concrete, and stucco construction is complemented by a shingle roof, private yard, rain gutters, and driveway, tandem, and on-street parking options.
The property is located near the downtown district of New Port Richey, with restaurants, breweries, shopping, Sims Park, and year-round events within walking distance. Public water and public sewer serve the property, while cable is available. MF2 zoning and the existing two-unit layout support residential income use, with the current short-term rental operation already established.
The property is located near the downtown district of New Port Richey, with restaurants, breweries, shopping, Sims Park, and year-round events within walking distance. Public water and public sewer serve the property, while cable is available. MF2 zoning and the existing two-unit layout support residential income use, with the current short-term rental operation already established.
Key Highlights
- Two renovated units currently operate as short‑term rentals
- 1,008 square feet on a 0.17‑acre lot
- MF2 zoning supports the duplex configuration
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
Properties on Market for Duplexes in New Port Richey
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units operate as short-term rentals within an MF2-zoned property near downtown amenities.
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 renovated units currently operate as short‑term rentals; 1,008 square feet on a 0.17‑acre lot; MF2 zoning supports the duplex configuration
