5716 Kenwood Ave · New Port Richey, FL 34652

$179,000

4 bd · 4.0 ba · 1,027 sqft · MultiFamily · 336 Days on market

Built 1948 9,114 sqft lot ↓ 28% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Don’t miss this rare investment opportunity in the heart of downtown New Port Richey. This well-maintained duplex features two separate units, each with private entrances, individual driveways, and updated interiors, offering strong rental income with future upside. The roof was replaced in 2018, and the entire exterior was freshly painted in 2024. Unit 5718 features a remodeled kitchen, updated bathroom, fireplace, and a spacious Florida room. It currently functions as a large studio but can easily be converted into a one-bedroom layout. Tenant in place paying $1,000/month. Unit 5716 is a cozy studio with a recently remodeled bathroom and a private entrance off Washington Street. Te

Key facts

• Remodeled bathroom
• Private driveway
• Large yard

Tags

• LARGE STUDIO
• REMODELED BATHROOM
• SPACIOUS ENCLOSED FRONT PORCH
• PRIVATE DRIVEWAY
• LARGE YARD
• MOSTLY FENCED

Property features AI

Finance

• Financial info: Gross income reported: $24,000; Annual net income reported: $20,000
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Public utilities
• Home design: Duplex (residential income property); Single building with 2 units; R2 zoning
• Construction: Block and frame construction; Shingle roof; Block foundation with crawlspace; Built on one building
• Exterior features: Front porch; Rear porch; Fenced yard; Corner lot; Sidewalks; Paved roads

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: Two total bedrooms across the property; Each unit is a 1-bedroom
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Open floor plan; ENERGY STAR qualified windows; Wood-burning fireplace
• Laundry & utility: Washer and dryer included; Shared laundry room / common laundry area

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive. Per door: $175/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 1.9% 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.
• Zoned schools: Richey Elementary School (math 34% / reading 39%, grade F, #1,656 of 2,144 statewide, top 78%, 650 students, 89% FRL); Gulf High School (math 32% / reading 34%, grade F, #406 of 667 statewide, top 61%, 1,465 students, 76% FRL) — zoned schools average 83% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 644 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $2,549/mo this rent would consume 54% 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 $1k of loan paydown is wiped out by about $5k 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 336 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $71k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.42% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.60%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.7%
• Equity multiple: 0.76×
• Total profit: $-12,122
• Equity at exit: $26,689

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-3,033
• Equity at exit: $15,477

Cash invested: $50,120 (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: 644
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,549 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $350

Break-even live

Break-even rent $2,106

Max offer price $179,000

Occupancy floor 81%

Sensitivity live

Price	-10% $474	-5% $412	+0% $350	+5% $288	+10% $226
Rent	-10% $149	-5% $249	+0% $350	+5% $451	+10% $552
Rate	-1.0pp $440	-0.5pp $396	base $350	+0.5pp $304	+1.0pp $257

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,548
Total (2 units)			$2,549

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7616 Washington St Port Richey, FL	3.0	2.0	1180	$1,970	$1.67	25d	1	0.15mi
7630 Tortuga Bay Blvd Port Richey, FL	3.0	2.0	1180	$1,825	$1.55	14d	17	0.17mi
7730 Washington St Port Richey, FL	3.0	1.0	1040	$1,575	$1.51	25d	1	0.32mi
7013 Green St New Port Richey, FL	3.0	2.0	1104	$1,500	$1.36	3d	1	0.53mi
7353 Royal Palm Dr New Port Richey, FL	3.0	2.0	1048	$1,550	$1.48	25d	1	0.57mi
6300 Limerick Ave New Port Richey, FL	3.0	2.0	953	$1,650	$1.73	25d	1	0.58mi
7713 Heather St New Port Richey, FL	3.0	2.0	1344	$1,800	$1.34	25d	1	0.60mi
6338 Aberdeen Ave New Port Richey, FL	3.0	2.0	1000	$2,300	$2.30	18d	1	0.66mi
7023 Oakwood Dr New Port Richey, FL	3.0	2.0	1032	$1,800	$1.74	21d	1	0.79mi
4927 Marina Palms Dr Port Richey, FL	3.0	2.0	1424	$1,700	$1.19	12d	1	0.84mi
5701 Berlin Dr Port Richey, FL	3.0	2.0	1364	$1,745	$1.28	25d	1	0.92mi
6548 Batea Ter New Port Richey, FL	3.0	2.0	1120	$1,800	$1.61	25d	1	0.93mi
5712 Bay Blvd Port Richey, FL	3.0	2.0	1216	$1,900	$1.56	25d	1	0.99mi
5706 Bay Blvd Port Richey, FL	3.0	2.0	1426	$1,950	$1.37	14d	1	0.99mi
6640 Del Prado Ter New Port Richey, FL	3.0	1.0	912	$1,450	$1.59	25d	1	1.05mi
6430 Polk St New Port Richey, FL	3.0	2.0	1270	$1,800	$1.42	23d	1	1.14mi
7039 Lenox Dr New Port Richey, FL	3.0	2.0	1300	$1,795	$1.38	14d	1	1.21mi

Listing history 26 events

1. 2026-06-04
   status $179,000 Pending 336 DOM
2. 2026-06-03
   days on market $179,000 Active 336 DOM
3. 2026-06-02
   days on market $179,000 Active 335 DOM
4. 2026-06-01
   days on market $179,000 Active 334 DOM
5. 2026-05-31
   days on market $179,000 Active 333 DOM
6. 2026-05-11
   price $179,000
7. 2026-05-09
   price $184,000
8. 2026-04-28
   price $186,000
9. 2026-04-19
   status Active
10. 2026-04-01
    status Pending
11. 2026-03-22
    price $189,900
12. 2026-03-05
    status Active
13. 2026-02-20
    status Pending
14. 2026-02-13
    price $195,000
15. 2026-01-27
    status Active
16. 2026-01-23
    status Pending
17. 2026-01-13
    price $200,000
18. 2025-11-11
    price $202,000
19. 2025-10-27
    price $205,000
20. 2025-09-04
    price $210,000
21. 2025-08-12
    price $213,000
22. 2025-07-17
    price $223,000
23. 2025-07-14
    price $225,000
24. 2025-07-07
    price $239,000
25. 2025-06-25
    price $240,000
26. 2025-05-27
    listed $250,000 Active

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥108°F today · 23 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: $30,588
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$6,014
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − Depreciation: −$5,207
• Taxable income: $1,761
• Est. tax owed @ 24.0%: −$423
• After-tax cash flow: $3,779/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

-28.4% since first listed

21 events — show timeline

• 2026-05-11 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-09 Price Changed $184,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $186,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-22 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $195,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-11 Price Changed $202,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-04 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $213,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-17 Price Changed $223,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-14 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-07 Price Changed $239,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-25 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-27 Listed $250,000 Stellar MLS as Distributed by MLS Grid