2-Unit Duplex with Attached
For Sale
$299,900
5800-5808 MADISON STREET, New Port Richey, FL 34652
Concrete block construction with garage laundry hookups and ceramic tile flooring in both residences.
Property Size1,600 SF
Price / SF$187.44
Days on Market9
Property Features for 5800-5808 MADISON STREET
General Information
Standard status
Active
Size
1,600 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry hook-ups
0.17 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 16-26-09-003.0-165.00-009.0, Public Survey Range: 16E, Public Survey Section: 9, Annual Amount: $3,113.01, Tax Book Number: 4-49, Legal Description: NPR MB 4 PG 49 LOT 9 BK 165 165 RB 626 PG 340, Lot: 9, Year: 2024, Zoning: R3
2 spaces
Wall/Window Unit(s)
Electric, Ductless
In Garage, Washer Hookup
Listing ID: MFRW7888636, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-15, 1 day on market, Special Conditions: None
Built in 1969, Living area: 1600, Living area units: Square Feet, Levels: One, Construction Materials: Block
Subdivision: NEW PORT RICHEY CITY, MLS Area (Major): 34652 - New Port Richey, County/Parish: Pasco
Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Slab
Electricity, Sewer, Water
Road Surface: Asphalt
Sidewalk
Open Floorplan
Building Details
Year Built
1969
Buildings
1
Construction
concrete block
Tenancy
Multi
Listing Agency:
RE/MAX SUNSET REALTY
(727) 863-2402
Listed By:
Brian Pfister · License #3040827
Source:
Miharaandassociates
Added: Aug 15
Changed: Aug 23
Last Checked: Aug 23 at 8:00AM
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 SUNSET REALTY
Investment Insights
Based on property information with market context.
This 1,600 SF duplex includes two 2-bedroom, 1-bath units in a concrete block structure. Each unit has an attached garage with laundry hookups, while ceramic tile flooring extends throughout the interiors. The kitchens and bathrooms are in good condition, and both residences are occupied by long-term tenants.
Located at 5800-5808 Madison Street in New Port Richey, the property is within walking distance of downtown. The building has a new shingle roof installed in 2024, and no flood insurance requirement is stated for the property.
Located at 5800-5808 Madison Street in New Port Richey, the property is within walking distance of downtown. The building has a new shingle roof installed in 2024, and no flood insurance requirement is stated for the property.
Key Highlights
- Two 2‑bedroom, 1‑bath units totaling 1,600 SF
- Concrete block duplex with an attached garage for each unit
- Garage laundry hookups serve both residences
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
$18,676
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
6.23%
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%
$373,520
$373.5K
Cap Rate 7%
$266,800
$266.8K
Cap Rate 9%
$207,511
$207.5K
Market Conditions
NOI Build-Up for 1,600 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
$28.6K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$26.7K $16.67/SF
− OpEx
−$8.0K −$5.00/SF
NOI
$18.7K $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%
$373,520
Cap Rate 7%
$266,800
Cap Rate 9%
$207,511
Alternative Uses
Best Use
Multifamily LT 5
$266.8K
$233.5K – $311.3K
NOI $18,676 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$210.2K
$183.9K – $245.3K
NOI $14,715 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$364.5K
$318.9K – $425.2K
NOI $25,513 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,469
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Concrete block construction with garage laundry hookups and ceramic tile flooring in both residences.
Where is this duplex located?
The property is located at 5800-5808 MADISON STREET New Port Richey, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units totaling 1,600 SF; Concrete block duplex with an attached garage for each unit; Garage laundry hookups serve both residences
