3815 Penrick Dr #0 · Beacon Square, FL 34652

$90,000

2 bd · 2.0 ba · 1,144 sqft · Condo public records · 56 Days on market

Built 1979 $560/mo HOA · 34% of rent

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Why this score? — see what drove the C+ 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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in this beautifully designed first-floor condo located in a desirable 55+ community. Offering 1,144 square feet of comfortable living space, this well-appointed home features 2 spacious bedrooms and 2 full bathrooms, perfectly suited for both everyday living and hosting guests. Step inside to find a bright and inviting layout with generous living and dining areas, ideal for relaxing or entertaining. The primary suite provides a private retreat with ample closet space and an en-suite bath, while the second bedroom offers flexibility for guests, a home office, or hobbies. Enjoy the enclosed Florida room and oversized end-unit. Sit out front on your fenc

Key facts

• Fenced in porch
• First floor condo
• Oversized end unit

Tags

• FIRST FLOOR CONDO
• ENCLOSED FLORIDA ROOM
• OVERSIZED END UNIT
• FENCED IN PORCH
• MAINTENANCE FREE COMMUNITY

Property features AI

Finance

• Other: Condo land included; Unfurnished; Association amenities include Cable TV
• Financial info: Total annual HOA fees $6,720; Lease restrictions apply
• HOA & community: Monthly HOA fee of $560 (includes pool, internet, structure and grounds maintenance, pest control, recreational facilities, sewer, trash and water); Association: Quality Property Management (approval required); Community features: Clubhouse, Pool, Recreation facilities, Shuffleboard court, Spa/Hot Tub; Senior community; Pets allowed (max 100 lbs)

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One story; East-facing; Living area approximately 1,144 sq ft
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of building number 3815
• Exterior features: Landscaped grounds; Paved road access

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Sliding doors
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.7% in Beacon Square — 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 66/100 on livability (#600 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D, schools F, amenities 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 35% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 56 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $90k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.83% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 4.5

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: -5.1%
• Equity multiple: 0.82×
• Total profit: $-4,614
• Equity at exit: $13,419

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-55
• Equity at exit: $7,782

Cash invested: $25,200 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$472
• Tax from tax record: −$25 /mo · $305/yr
• Insurance: −$38
• HOA: −$560
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $210

Break-even live

Break-even rent $1,386

Max offer price $90,000

Occupancy floor 82%

Sensitivity live

Price	-10% $261	-5% $235	+0% $210	+5% $184	+10% $159
Rent	-10% $79	-5% $145	+0% $210	+5% $275	+10% $340
Rate	-1.0pp $255	-0.5pp $233	base $210	+0.5pp $186	+1.0pp $163

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3847 Lighthouse Way New Port Richey, FL	2.0	2.0	1144	$1,595	$1.39	22d	1	0.09mi
4301 Straits Ln New Port Richey, FL	3.0	1.5	1284	$1,790	$1.39	24d	1	0.17mi
4133 Grayton Dr New Port Richey, FL	2.0	1.5	1068	$1,727	$1.62	5d	1	0.25mi
4031 Davit Dr New Port Richey, FL	2.0	2.0	1144	$1,600	$1.40	18d	1	0.26mi
4022 Davit Dr New Port Richey, FL	2.0	2.0	1144	$1,600	$1.40	18d	1	0.28mi
3439 Clydesdale Dr Holiday, FL	2.0	1.0	968	$1,395	$1.44	5d	1	0.41mi
4221 Touchton Pl New Port Richey, FL	2.0	2.0	888	$1,300	$1.46	24d	1	0.44mi
3301 Rosefield Dr Holiday, FL	3.0	2.0	1340	$2,100	$1.57	18d	1	0.52mi
3433 Monticello St Holiday, FL	3.0	1.5	960	$1,650	$1.72	24d	1	0.53mi
4211 Hampton Dr New Port Richey, FL	2.0	2.0	1050	$1,795	$1.71	5d	1	0.59mi
4124 Flamingo Dr New Port Richey, FL	3.0	1.0	744	$1,500	$2.02	15d	1	0.61mi
4124 Flamingo Dr New Port Richey, FL	3.0	1.0	744	$1,500	$2.02	4d	1	0.61mi
3511 Cambridge St New Port Richey, FL	2.0	2.0	936	$2,100	$2.24	5d	1	0.61mi
4408 Rustic Dr New Port Richey, FL	2.0	1.0	1101	$1,500	$1.36	24d	1	0.61mi
4411 Rustic Dr Unit 1 New Port Richey, FL	2.0	2.0	1050	$1,450	$1.38	13d	1	0.62mi
3516 Sheryl Hill Dr Holiday, FL	2.0	2.0	848	$1,595	$1.88	24d	1	0.66mi
5020 Vickers Dr New Port Richey, FL	2.0	1.0	863	$1,550	$1.80	5d	1	0.77mi
3612 Springfield Dr Holiday, FL	2.0	1.5	1040	$1,450	$1.39	18d	1	0.78mi
3445 Wiltshire Dr Holiday, FL	2.0	1.5	992	$1,450	$1.46	22d	1	0.81mi
4540 Irene Loop New Port Richey, FL	2.0	1.0	768	$1,550	$2.02	24d	1	0.89mi
4117 Highland Loop New Port Richey, FL	3.0	2.0	1384	$1,599	$1.16	13d	1	0.89mi
3252 Peterborough St Holiday, FL	3.0	2.0	1290	$1,631	$1.26	5d	1	0.93mi
4348 Plaza Dr Holiday, FL	1.0–2.0	1.0–2.0	860	$1,499	$1.74	3d	9	0.95mi
4616 Irene Loop New Port Richey, FL	2.0	1.0	898	$1,600	$1.78	20d	1	0.96mi
4721 Naftis Ln New Port Richey, FL	3.0	2.0	1104	$1,700	$1.54	13d	1	0.96mi
4282 Rudder Way New Port Richey, FL	3.0	2.0	1454	$2,000	$1.38	24d	1	0.97mi
4282 Rudder Way New Port Richey, FL	3.0	2.0	1310	$2,000	$1.53	4d	1	0.97mi
4205 Jordana Way Holiday, FL	1.0–3.0	1.0–2.0	1027	$1,404	$1.37	3d	13	1.02mi
3431 Overland Dr Holiday, FL	3.0	2.0	1236	$1,850	$1.50	24d	1	1.02mi
5232 Sparrow Dr Holiday, FL	2.0	1.0	976	$1,975	$2.02	24d	1	1.04mi
5319 Drift Tide Dr New Port Richey, FL	2.0	1.5	1142	$1,500	$1.31	10d	1	1.06mi
4554 Nimmer Dr New Port Richey, FL	3.0	2.0	1180	$1,600	$1.36	15d	1	1.08mi
4548 Belfast Dr New Port Richey, FL	3.0	1.0	1075	$1,575	$1.47	18d	1	1.11mi
4852 Pompano Dr New Port Richey, FL	2.0	2.0	1104	$2,900	$2.63	24d	1	1.12mi
3528 Rock Royal Dr Holiday, FL	2.0	1.0	1052	$1,900	$1.81	24d	1	1.15mi
4518 Audrey Ln Unit 4551 New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.16mi
4723 Aegean Ave Holiday, FL	2.0	1.0	1000	$1,636	$1.64	5d	1	1.17mi
4529 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.18mi
4551 Audrey Ln NEW PRT RCHY, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.19mi
4540 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,150	$1.53	24d	1	1.19mi

HOA detail condo

• Monthly dues: $560 · $6,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $90,000 Active 56 DOM
2. 2026-06-17
   pricedays on market $90,000 Active 55 DOM
3. 2026-06-16
   days on market $99,000 Active 54 DOM
4. 2026-06-15
   days on market $99,000 Active 53 DOM
5. 2026-06-13
   days on market $99,000 Active 51 DOM
6. 2026-06-09
   days on market $99,000 Active 47 DOM
7. 2026-06-08
   days on market $99,000 Active 46 DOM
8. 2026-06-07
   days on market $99,000 Active 45 DOM
9. 2026-06-04
   days on market $99,000 Active 42 DOM
10. 2026-06-03
    days on market $99,000 Active 41 DOM
11. 2026-06-02
    days on market $99,000 Active 40 DOM
12. 2026-06-01
    days on market $99,000 Active 39 DOM
13. 2026-05-31
    days on market $99,000 Active 38 DOM
14. 2026-05-18
    price $99,000
15. 2026-05-06
    price $105,000
16. 2026-04-23
    listed $109,900 Active
17. 2002-06-12
    soldstatus $50,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $305 · $25/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$442/yr (+$37/mo · 144.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 29 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,817
• − Mortgage interest: −$5,041
• − Property taxes: −$305
• − Insurance: −$450
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$6,720
• − Depreciation: −$2,618
• Taxable income: $1,512
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $2,154/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 — Beacon Square

• Score: 66/100
• State rank: #600
• US rank: #11494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beacon Square, 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

+98.0% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2002-06-12 Sold (Public Records) $50,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $305 · +7.9% YoY. Source: county tax records.