Duplex with Fenced
For Sale
$169,000
5716 Kenwood Ave, New Port Richey, FL 34652
Two studio-style units offer private entrances, separate driveways, and shared laundry facilities.
Property Size1,027 SF
Price / SF$164.56
Days on Market481
Property Features for 5716 Kenwood Ave
General Information
Standard status
Active
Size
1,027 SF
Property subtype
Residential Income
Additional Details
Gross Income
$22,800
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,472
Amenities
exterior laundry area
large fenced yard
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX CHAMPIONS
(727) 807-7887
Listed By:
Kim Doukas · License #3101882
(727) 278-0954
Source:
Exprealty
Added: May 27, 2025
Changed: Sep 15
Last Checked: Sep 19 at 12:03PM
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 RE/MAX CHAMPIONS
Investment Insights
Based on property information with market context.
This 1,027-square-foot duplex contains two separate studio-style units with private entrances and individual driveways. Unit 5718 includes a remodeled kitchen, refreshed bathroom, fireplace, and Florida room; its layout may accommodate conversion to a one-bedroom configuration. Unit 5716 has a remodeled bathroom and a private entry from Washington Street. Both residences have tenants in place on month-to-month leases.
Property improvements include a roof replaced in 2018, exterior painting completed in 2024, and an outdoor laundry area with a washer and dryer. The fenced yard is shared by both units, and neither unit has experienced interior flooding.
The property is located at 5716 Kenwood Ave in New Port Richey, near downtown shops, restaurants, Sims Park, festivals, and the riverfront. US-19 and the Suncoast Parkway provide regional access, with Gulf beaches a short drive away.
Property improvements include a roof replaced in 2018, exterior painting completed in 2024, and an outdoor laundry area with a washer and dryer. The fenced yard is shared by both units, and neither unit has experienced interior flooding.
The property is located at 5716 Kenwood Ave in New Port Richey, near downtown shops, restaurants, Sims Park, festivals, and the riverfront. US-19 and the Suncoast Parkway provide regional access, with Gulf beaches a short drive away.
Key Highlights
- 1,027 SF duplex with two separate studio‑style units
- Unit 5718 includes a remodeled kitchen, updated bathroom, fireplace, and Florida room
- Unit 5716 offers a remodeled bathroom and private Washington Street entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,988
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,760
$239.8K
Cap Rate 7%
$171,257
$171.3K
Cap Rate 9%
$133,200
$133.2K
Market Conditions
NOI Build-Up for 1,027 SF
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.
Gross rent
$18.4K $17.88/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$17.1K $16.67/SF
− OpEx
−$5.1K −$5.00/SF
NOI
$12.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,760
Cap Rate 7%
$171,257
Cap Rate 9%
$133,200
Alternative Uses
Best Use
Multifamily LT 5
$171.3K
$149.9K – $199.8K
NOI $11,988 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$134.9K
$118.1K – $157.4K
NOI $9,445 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$233.9K
$204.7K – $272.9K
NOI $16,376 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
750
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two studio-style units offer private entrances, separate driveways, and shared laundry facilities.
Where is this duplex located?
The property is located at 5716 Kenwood Ave New Port Richey, FL.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,027 SF duplex with two separate studio‑style units; Unit 5718 includes a remodeled kitchen, updated bathroom, fireplace, and Florida room; Unit 5716 offers a remodeled bathroom and private Washington Street entrance
