Duplex with Private
For Sale
$270,000
7119-7121 OAKWOOD, New Port Richey, FL 34652
Two-unit residential property with separate entrances, central air, updated counters, and a practical mix of kitchen appliances.
Property Size1,650 SF
Price / SF$163.64
Days on Market196
Property Features for 7119-7121 OAKWOOD
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Residential Income
Zoning
00R3
Taxes and HOA fees
Annual Taxes
$4,015
Amenities
Central Air
Central
Cooktop, Dishwasher, Electric Water Heater, Microwave, Range, Refrigerator
Stone Counters
Courtyard, Private Entrance, Private Yard
Building Details
Year Built
1980
Listed By:
Katiuska Cardenas Leon
(813) 538-0212
Source:
Evrealestate
Added: Feb 19
Changed: Aug 31
Last Checked: Sep 2 at 4:05PM
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 Katiuska Cardenas Leon
Investment Insights
Based on property information with market context.
This duplex contains 1,650 square feet and was built in 1980. The property includes central air and central heating, along with kitchens equipped with cooktops, dishwashers, electric water heaters, microwaves, ranges, and refrigerators. Stone counters add a durable finish to the interior spaces.
Exterior features include private entrances, private yards, and a courtyard. The property is located at 7119-7121 Oakwood in New Port Richey, within Pasco County, Florida, and carries 00R3 zoning.
Exterior features include private entrances, private yards, and a courtyard. The property is located at 7119-7121 Oakwood in New Port Richey, within Pasco County, Florida, and carries 00R3 zoning.
Key Highlights
- 1,650‑square‑foot duplex built in 1980
- Private entrances and private yards
- Courtyard included among exterior features
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
$19,259
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
7.13%
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%
$385,180
$385.2K
Cap Rate 7%
$275,129
$275.1K
Cap Rate 9%
$213,989
$214.0K
Market Conditions
NOI Build-Up for 1,650 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
$29.5K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.5K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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%
$385,180
Cap Rate 7%
$275,129
Cap Rate 9%
$213,989
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.7K – $321.0K
NOI $19,259 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$375.9K
$328.9K – $438.5K
NOI $26,310 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
482
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate entrances, central air, updated counters, and a practical mix of kitchen appliances.
Where is this duplex located?
The property is located at 7119-7121 OAKWOOD New Port Richey, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,650‑square‑foot duplex built in 1980; Private entrances and private yards; Courtyard included among exterior features
