Listing Details for MLS # TB8435029
5816 Congress Street Unit 101, New Port Richey, Fl 34653

Residential Property - Condominium in New Port Richey

Listing Price: $129,500Days on Market: 57

Description of Property

Updated condo in the heart of New Port Richey! This unit is one (1) of three (3) available investment properties, all currently rented and producing a combined monthly income of $4,650. An excellent investment opportunity with strong returns — this particular unit rents for $1,550/month, offering a ~14.4% gross cap rate and an estimated ~10.0% net cap rate (based on a 30% expense ratio). Recent appraisal and inspection reports are included in the attachments. This well-maintained 2-bedroom, 2-bath corner Unit features a spacious open living area, large kitchen, generous bedrooms, in-unit laundry, and extra storage space. Peacefully situated next to a quiet conservation area, this home offers privacy and a serene natural view. Located minutes from beautiful Gulf beaches, shopping, dining, and entertainment, with easy access to Tampa, St. Petersburg, Clearwater, and the airport. The low HOA fee ($302/month) covers water, sewer, and trash. Whether you’re seeking a clean, affordable home or a high-performing, cash-flowing investment — this one checks all the boxes. Cash-only sale.The average asking price for a 2 bedroom/2 bath condominium in this Zip code is $182,759. This condominium is listed at about 71% of the average asking price. There are 21 2 bedroom/2 bath homes between $100,000 and $200,000 currently listed for sale in this Zip code. See other listings like this one »