Duplex with Updated HVAC
For Sale
$365,000
6328 POLK STREET, New Port Richey, FL 34653
Corner-lot property near downtown with separate residences and recent mechanical improvements.
Property Size2,166 SF
Price / SF$168.51
Days on Market12
Property Features for 6328 POLK STREET
General Information
Standard status
Active
Size
2,166 SF
Property subtype
Duplex
Building Details
Year Built
1985
Listing Agency:
DENNIS REALTY & INV. CORP.
(813) 949-7444
Listed By:
Nadia Heinz · License #3036517
Source:
Dennisrealty
Added: Aug 22
Changed: Aug 31
Last Checked: Sep 1 at 5:21PM
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 DENNIS REALTY & INV. CORP.
Investment Insights
Based on property information with market context.
Built in 1985, this duplex contains two separate residences, each with 2 bedrooms and 1.5 baths. The units measure approximately 1,083 square feet apiece, totaling 2,166 square feet across the property. HVAC systems were replaced in 2022 and 2018, a water heater was replaced in 2021, and Unit 6330 includes updated countertops.
The property is located at 6328 Polk Street in New Port Richey, just off Main Street and near Downtown New Port Richey. Nearby community destinations identified for the area include Sims Park, the Pithlachascotee River, restaurants, craft beer venues, parks, and community events. The property has no HOA or CDD and is in Flood Zone X.
The property is located at 6328 Polk Street in New Port Richey, just off Main Street and near Downtown New Port Richey. Nearby community destinations identified for the area include Sims Park, the Pithlachascotee River, restaurants, craft beer venues, parks, and community events. The property has no HOA or CDD and is in Flood Zone X.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 baths per residence
- Approximately 2,166 square feet total; each unit is approximately 1,083 square feet
- HVAC systems replaced in 2022 and 2018
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
$25,282
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
6.93%
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%
$505,640
$505.6K
Cap Rate 7%
$361,171
$361.2K
Cap Rate 9%
$280,911
$280.9K
Market Conditions
NOI Build-Up for 2,166 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
$38.7K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$36.1K $16.67/SF
− OpEx
−$10.8K −$5.00/SF
NOI
$25.3K $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%
$505,640
Cap Rate 7%
$361,171
Cap Rate 9%
$280,911
Alternative Uses
Best Use
Multifamily LT 5
$361.2K
$316.0K – $421.4K
NOI $25,282 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$493.4K
$431.7K – $575.6K
NOI $34,538 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 34653, FL
33,381
Population
17,752
Households
1.9
Avg Household Size
49
Median Age
18%
College-Educated
90%
High-School Grad
10.9 sq mi
ZIP Area
3,062
Density / Sq Mi
$47,660
Median Household Income
$35,327
Median Earnings
$1,222
Median Rent
$180,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot property near downtown with separate residences and recent mechanical improvements.
Where is this duplex located?
The property is located at 6328 POLK STREET New Port Richey, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 baths per residence; Approximately 2,166 square feet total; each unit is approximately 1,083 square feet; HVAC systems replaced in 2022 and 2018
