Waterfront
5822 RIVER Road, New Port Richey, FL 34652
For Sale
$489,900
Residential Income, NEW PORT RICHEY, FL
Property Size2,283 SF
Lot Size0.38 Acres
Price / SF$214.59
Days on Market183
Property Features for 5822 RIVER Road
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Subdivision
View
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Water front features
Water front
Amenities
waterfront
screened-in porch
lanai
patio
workshop
laundry room
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
RE/MAX SUNSET REALTY · RE/MAX International
(727) 863-2402
Listed By:
Louis Petruzzelli PA · License FL #698210
(727) 505-5111
Added: May 12
Changed: Nov 10
Last Checked: Nov 10 at 10:06PM
MLS# W7883897
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
Based on property information with market context.
This R2-zoned duplex combines a primary residence with a separately accessed guest apartment. The main home offers 3 bedrooms, 2 full bathrooms, a bonus room, dining area, living room, interior laundry, and updated kitchen finishes including granite counters, new cabinetry, and stainless steel appliances. The 1-bedroom, 1-bath apartment includes its own entry, electric service, parking, kitchen, living area, granite counters, cabinetry, and stainless steel appliances.
The property occupies 0.38 acres with 83 feet of river frontage, a reconstructed concrete seawall, and multiple outdoor spaces. Covered and screened areas include a 30X15 side porch, a 31X8 rear porch, and an 11X20 glass-enclosed side lanai. A 12X32 workshop with sliding glass doors and a workbench provides additional flexible space. The site also includes an oversized driveway with room for an RV or boat, a separate apartment driveway, a side yard, an open patio, and public water and sewer.
The property occupies 0.38 acres with 83 feet of river frontage, a reconstructed concrete seawall, and multiple outdoor spaces. Covered and screened areas include a 30X15 side porch, a 31X8 rear porch, and an 11X20 glass-enclosed side lanai. A 12X32 workshop with sliding glass doors and a workbench provides additional flexible space. The site also includes an oversized driveway with room for an RV or boat, a separate apartment driveway, a side yard, an open patio, and public water and sewer.
Key Highlights
- Duplex configuration with a 3‑bedroom, 2‑bath main residence and separate 1‑bedroom, 1‑bath apartment
- 83 feet of river frontage with a reconstructed concrete seawall
- 2,283 square feet of living area and 3,123 square feet total under roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,791
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,820
$575.8K
Cap Rate 7%
$411,300
$411.3K
Cap Rate 9%
$319,900
$319.9K
Market Conditions
NOI Build-Up for 2,283 SF
Gross rent
$45.8K $20.04/SF
− Vacancy
−$4.6K −$2.02/SF
EGI
$41.1K $18.02/SF
− OpEx
−$12.3K −$5.40/SF
NOI
$28.8K $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%
$575,820
Cap Rate 7%
$411,300
Cap Rate 9%
$319,900
Alternative Uses
Best Use
Multifamily LT 5
$411.3K
$359.9K – $479.9K
NOI $28,791 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$390.3K
$341.5K – $455.3K
NOI $27,318 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$712.0K
$623.0K – $830.7K
NOI $49,840 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,688
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 - R2-zoned riverfront residence with a separate-entry guest apartment, updated interiors, and outdoor areas overlooking the water.
Where is this duplex located?
The property is located at 5822 RIVER Road New Port Richey, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Duplex configuration with a 3‑bedroom, 2‑bath main residence and separate 1‑bedroom, 1‑bath apartment; 83 feet of river frontage with a reconstructed concrete seawall; 2,283 square feet of living area and 3,123 square feet total under roof
