$2,475/MO Cashflow + $100K Equity Day One — Turnkey Double‑Unit in New Port Richey

Overview

This property at 5824 Olive Drive in New Port Richey, Florida is a rare turnkey play offering immediate cashflow and a built‑in equity spread. It features two mobile homes on a single lot, both fully rented and producing $2,475/month with leases locked in through 2028. With minimal rehab needed and an ARV of $300,000, an investor can step into a stabilized asset today for just $220,000 - a full $100K discount to market value.

Property Details

The first home is a three‑bedroom, two‑bath unit with 1,264 square feet. The second home is a two‑bedroom, one‑bath unit with 1,008 square feet. Both homes sit on one parcel, keeping expenses low and management simple. The units are in solid condition and only need light touch‑ups, making this a low‑maintenance, high‑yield investment.

Financials

The combined rent of $2,475/month is secured through 2028, giving the buyer predictable income for years. At a $220,000 purchase price, the deal delivers strong day‑one cashflow while also offering a clear path to a $300,000 resale with little to no additional work. Investors can hold for yield or immediately capture the equity spread.

Area

New Port Richey remains one of Florida's strongest affordable‑housing rental markets, with consistent demand and reliable tenants. Mobile homes in this region perform exceptionally well, and dual‑unit setups like this one generate higher income without added complexity.

Why It Stands Out

This deal checks every box: long‑term tenants, minimal rehab, strong cashflow, and a six‑figure equity position baked in. You're getting a property worth $300K for $200K, already stabilized, already performing, and already leased for the next several years. For investors seeking both cashflow and immediate value, this is one of the cleanest opportunities available.