Corner-Lot
New
For Sale
$365,000
6328 POLK Street, New Port Richey, FL 34653
Residential Income, NEW PORT RICHEY, FL
Property Size2,166 SF
Lot Size0.13 Acres
Price / SF$168.51
Days on Market5
Property Features for 6328 POLK Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Dining Room, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 3
Parking features
Driveway
Patio and Porch features
Deck, Porch, Patio
Pets allowed
Yes
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo
Exterior features
Sidewalk, Sliding Doors
Appliances
Dishwasher, Electric Water Heater, Range, Range Hood, Refrigerator
Subdivision
NEW PORT RICHEY CITY
Lot features
Sidewalk, Paved
Middle school
Gulf Middle-PO
High school
Gulf High-PO
Directions
MAIN ST TO POLK ST
Standard status
Active
APN
04-26-16-0030-06700-0091
Size
2,166 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF NEW PORT RICHEY PB 4 PG 49 N 75 FT OF LOT 9 BLOCK 67 & N 75 FT OF W1/2 OF LOT 10 BLOCK 67 OR 8181 PG 22
Tax Annual Amount
6407
Legal Description
TOWN OF NEW PORT RICHEY PB 4 PG 49 N 75 FT OF LOT 9 BLOCK 67 & N 75 FT OF W1/2 OF LOT 10 BLOCK 67 OR 8181 PG 22
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
DENNIS REALTY & INV. CORP.
(813) 949-7444
Listed By:
Nadia Heinz · License #3036517
(813) 714-6568
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 24 at 1:06AM
MLS# TB8541021
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.
Investment Insights
Based on property information with market context.
This 2,166-square-foot duplex contains two distinct 2-bedroom, 1.5-bath residences, each approximately 1,083 square feet. The property was built in 1985 on a 0.13-acre corner lot and includes tile flooring, central heating and cooling, ceiling fans, living and dining areas, kitchens with ranges, refrigerators, dishwashers, range hoods, and electric water heaters. Unit 6330 has updated countertops.
Recent mechanical updates include HVAC replacements in 2022 and 2018, along with a water heater replacement in 2021. The block-constructed property has a shingle roof, driveway parking, a deck, porch, patio, sliding doors, and sidewalk access. Public water and public sewer serve the property, with cable available.
Located at 6328 Polk Street in New Port Richey, the duplex is near Main Street and downtown amenities, including dining, entertainment, parks, Sims Park, and the Pithlachascotee River. Zoning is MF2, and the property is in Flood Zone X.
Recent mechanical updates include HVAC replacements in 2022 and 2018, along with a water heater replacement in 2021. The block-constructed property has a shingle roof, driveway parking, a deck, porch, patio, sliding doors, and sidewalk access. Public water and public sewer serve the property, with cable available.
Located at 6328 Polk Street in New Port Richey, the duplex is near Main Street and downtown amenities, including dining, entertainment, parks, Sims Park, and the Pithlachascotee River. Zoning is MF2, and the property is in Flood Zone X.
Key Highlights
- Two 2‑bedroom, 1.5‑bath units, each approximately 1,083 square feet
- 2,166 square feet on a 0.13‑acre corner lot
- HVAC systems replaced in 2022 and 2018; water heater replaced in 2021
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
Lease Details
2
Residential units
Yes
Paved road access
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 - Two separate units support flexible owner-occupant or rental use.
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 2‑bedroom, 1.5‑bath units, each approximately 1,083 square feet; 2,166 square feet on a 0.13‑acre corner lot; HVAC systems replaced in 2022 and 2018; water heater replaced in 2021
