7119-7121 Oakwood · New Port Richey, FL 34652

$300,000

4 bd · 2.0 ba · 1,650 sqft · MultiFamily · 107 Days on market

Built 1980 0.31 ac lot Est $285k · 5% over

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.7/30.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• ARV discount +5.2/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Both units in excellent condition. Washer/Dryer hook-up. Separate water meters. Unit 7121 has enclosed carport and enclosed patio (extra room). Unit 7119 has A/C duct and kitchen cabinets replaced in 2005. Roof 3 years. Freshly painted inside and out. Fenced yard. Roads expected to be paved by the end of the year. No deferred maintenance. Excellent investment opportunity.

Key facts

• New air conditioning
• New flooring
• New appliances

Tags

• COMPLETELY REMODELED DUPLEX
• NEW AIR CONDITIONING
• NEW APPLIANCES
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW FLOORING

Property features AI

Other

• Utilities & measurements: Living area approximately 1,650 square feet (public records)

Finance

• Other: Property zoned 00R3
• Financial info: Estimated annual market income: $34,600; Annual net income: $38,400; Pro forma rents: $1,800 for 3-bedroom unit, $1,600 for 2-bedroom unit; Lease restrictions apply
• HOA & community: No HOA; association approval required

Exterior

• Utilities: Public water; Public sewer; Electricity available and connected; Water connected; Sewer connected
• Home design: Duplex (residential income property); Single building with 2 units; Approximately 0.31 acre lot
• Construction: Block and stucco construction; Shingle roof; Concrete perimeter foundation; Built as a multi-unit duplex
• Exterior features: Fenced yard; Sliding doors; Asphalt road access; Flood zone (flood insurance required)

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 5 total bedrooms across units (includes one 3-bedroom unit and one 2-bedroom unit)
• Flooring: Ceramic tile; Concrete perimeter foundation
• Bathrooms: 2 total bathrooms (one in each unit)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Separate living and dining areas; Stone countertops; Thermostat
• Laundry & utility: Inside laundry; Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $-78 ($-932/yr) — negative. Per door: $-39/mo.
• To cash-flow at today's rent, offer at most $289k (3.7% below list).
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.0% in New Port Richey — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#67 in FL, #1,139 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute D, employment F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 635 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• At $3,066/mo this rent would consume 65% of the median local household income ($57k/yr) (locally 1190% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $300k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $273,000 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $285,450
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7128 Pinewood Dr	0.08mi	4/2.0	1,680 (+2%)	18mo	$165,000	$98	78
7036/7038 Oelsner St	0.06mi	4/4.0	1,864 (+13%)	5mo	$340,000	$182	64
6917/6919 MC Bride Ct	0.50mi	4/2.0	1,736 (+5%)	10mo	$300,000	$173	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.28×
• Total profit: $-60,126
• Equity at exit: $44,731

10-year hold

• IRR: -22.5%
• Equity multiple: -0.01×
• Total profit: $-84,431
• Equity at exit: $25,939

Cash invested: $84,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34652

• Home prices YoY: -26.1%
• Rents YoY: 0.7%
• Active inventory: 635
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,066 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $-78

Break-even live

Break-even rent $3,164

Max offer price $288,766

Occupancy floor 98%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,066
Total (2 units)			$3,066

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7013 Green St New Port Richey, FL	3.0	2.0	1104	$1,500	$1.36	2d	1	0.36mi
4927 Marina Palms Dr Port Richey, FL	3.0	2.0	1424	$1,700	$1.19	11d	1	0.55mi
7616 Washington St Port Richey, FL	3.0	2.0	1180	$1,970	$1.67	24d	1	0.82mi
7630 Tortuga Bay Blvd Port Richey, FL	3.0	2.0	1180	$1,825	$1.55	13d	17	0.83mi
6073 Vermont Ave New Port Richey, FL	3.0	2.0	1562	$2,250	$1.44	24d	1	1.04mi
5708 Illinois Ave NEW PRT RCHY, FL	3.0	2.0	1548	$1,600	$1.03	18d	1	1.24mi
6250 Kentfield Ave New Port Richey, FL	3.0	2.0	1578	$2,500	$1.58	5d	1	1.25mi
6131 Central Ave New Port Richey, FL	3.0	2.0	1682	$2,500	$1.49	24d	1	1.27mi
5732 Biscayne Ct New Port Richey, FL	3.0	2.5	1670	$2,375	$1.42	24d	1	1.29mi
5728 Biscayne Ct New Port Richey, FL	3.0	2.5	1670	$2,400	$1.44	5d	1	1.31mi
5728 Biscayne Ct New Port Richey, FL	3.0	3.0	1670	$2,500	$1.50	13d	1	1.31mi
7713 Heather St New Port Richey, FL	3.0	2.0	1344	$1,800	$1.34	24d	1	1.33mi
5701 Berlin Dr Port Richey, FL	3.0	2.0	1364	$1,745	$1.28	24d	1	1.35mi
5706 Bay Blvd Port Richey, FL	3.0	2.0	1426	$1,950	$1.37	13d	1	1.42mi
5712 Bay Blvd Port Richey, FL	3.0	2.0	1216	$1,900	$1.56	24d	1	1.43mi
5567 Sea Forest Dr New Port Richey, FL	2.0–3.0	2.0–3.0	1335	$2,650	$1.99	13d	2	1.44mi
7421 Congress St New Port Richey, FL	4.0	2.0	1792	$1,890	$1.05	20d	1	1.45mi
5525 Wahoo Ct New Port Richey, FL	3.0	3.0	1607	$2,100	$1.31	24d	1	1.48mi

Listing history 23 events

1. 2026-06-18
   days on market $300,000 Active 107 DOM
2. 2026-06-17
   days on market $300,000 Active 106 DOM
3. 2026-06-16
   days on market $300,000 Active 105 DOM
4. 2026-06-15
   days on market $300,000 Active 104 DOM
5. 2026-06-13
   days on market $300,000 Active 102 DOM
6. 2026-06-09
   days on market $300,000 Active 98 DOM
7. 2026-06-08
   days on market $300,000 Active 97 DOM
8. 2026-06-07
   days on market $300,000 Active 96 DOM
9. 2026-06-04
   days on market $300,000 Active 93 DOM
10. 2026-06-03
    days on market $300,000 Active 92 DOM
11. 2026-06-02
    days on market $300,000 Active 91 DOM
12. 2026-06-01
    days on market $300,000 Active 90 DOM
13. 2026-05-31
    days on market $300,000 Active 89 DOM
14. 2026-05-18
    status Pending
15. 2026-05-09
    price $300,000
16. 2026-04-06
    price $305,000
17. 2026-03-29
    price $315,000
18. 2026-03-21
    price $320,000
19. 2026-03-06
    price $325,000
20. 2026-02-19
    listed $335,000 Active
21. 2006-03-17
    listed $209,800
22. 2005-09-21
    soldstatus $135,000 375-char remark

    Show marketing remark (375 chars)

    Both units in excellent condition. Washer/Dryer hook-up. Separate water meters. Unit 7121 has enclosed carport and enclosed patio (extra room). Unit 7119 has A/C duct and kitchen cabinets replaced in 2005. Roof 3 years. Freshly painted inside and out. Fenced yard. Roads expected to be paved by the end of the year. No deferred maintenance. Excellent investment opportunity.

23. 2005-05-16
    listed $139,900 375-char remark

    Show marketing remark (375 chars)

    Both units in excellent condition. Washer/Dryer hook-up. Separate water meters. Unit 7121 has enclosed carport and enclosed patio (extra room). Unit 7119 has A/C duct and kitchen cabinets replaced in 2005. Roof 3 years. Freshly painted inside and out. Fenced yard. Roads expected to be paved by the end of the year. No deferred maintenance. Excellent investment opportunity.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,792
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$6,619
• − Repairs & maintenance: −$2,943
• − Management: −$2,943
• − Depreciation: −$8,727
• Taxable loss: −$5,745
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $447/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — New Port Richey

• Score: 82/100
• State rank: #67
• US rank: #1139

Category grades

Amenities A+ Commute D Cost of living A+ Crime C- Employment F Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Port Richey, FL
• County: Pasco County · 524,098 people
• City population: 137,708
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,444
• Household income: $56,931
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1190.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.49%
• Current HPI: 310.8347
• Rent YoY: ▲ 0.72%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+114.4% since first listed

10 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-09 Price Changed $300,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $305,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-29 Price Changed $315,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $320,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $325,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Listed $335,000 Stellar MLS as Distributed by MLS Grid
• 2006-03-17 Listed $209,800 Stellar MLS as Distributed by MLS Grid
• 2005-09-21 Sold (MLS) $135,000 Stellar MLS as Distributed by MLS Grid
• 2005-05-16 Listed $139,900 Stellar MLS as Distributed by MLS Grid