705 Reading Pl · Sun City Center, FL 33573

$205,000

2 bd · 2.0 ba · 1,141 sqft · Condo public records · 136 Days on market

Built 1976

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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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• DSCR +3.4/10.0
• Appreciation +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very close to all the areas shopping centers and easy access to major highways and Interstate I-75. This 2br/2ba with attached garage is very clean and was remodeled in 2019. Modern "wood look" ceramic tile throughout make cleaning a breeze. Very low monthly association fees and access to a number of SCC's facilties. Note: described as "Condo" however this is a separate independent single family home structure.

Key facts

• Remodeled in 2019
• Built 1976
• Listed 136 days

Tags

• EASY ACCESS TO MAJOR HIGHWAYS
• REMODELED IN 2019
• WOOD LOOK CERAMIC TILE
• LOW MONTHLY ASSOCIATION FEES
• ACCESS TO SCC FACILITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-68 ($-816/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (13.7% below list).
• Recommended offer: $177k (13.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#178 in FL, #2,736 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cypress Creek Elementary School (math 40% / reading 40%, grade F, #1,491 of 2,144 statewide, top 70%, 957 students, 63% FRL); Shields Middle School (math 29% / reading 27%, grade F, #486 of 571 statewide, top 86%, 1,867 students, 68% FRL); Lennard High School (math 30% / reading 46%, grade F, #328 of 667 statewide, top 50%, 2,404 students, 47% FRL).
• Zoned-school proficiency averages 35% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.6%/yr); 605 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $132k; list at $205k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $176,822 (13.7% 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 136 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 0.86% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.42%
• DSCR: 0.94
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.34×
• Total profit: $-38,115
• Equity at exit: $30,566

10-year hold

• IRR: -12.3%
• Equity multiple: 0.28×
• Total profit: $-41,068
• Equity at exit: $17,725

Cash invested: $57,400 (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 33573

• Home prices YoY: -1.2%
• Rents YoY: 2.6%
• Active inventory: 605
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,768 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$126 /mo · $1,517/yr
• Insurance: −$85
• HOA est. from 1 same-building comp: −$178
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-68

Break-even live

Break-even rent $1,854

Max offer price $192,984

Occupancy floor 99%

Sensitivity live

Price	-10% $48	-5% $-10	+0% $-68	+5% $-126	+10% $-184
Rent	-10% $-208	-5% $-138	+0% $-68	+5% $2	+10% $72
Rate	-1.0pp $35	-0.5pp $-16	base $-68	+0.5pp $-121	+1.0pp $-175

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 Rickenbacker Dr Sun City Center, FL	2.0	1.0	1224	$1,595	$1.30	4d	1	0.20mi
701 Cypress Pl Sun City Center, FL	2.0	2.0	1425	$1,700	$1.19	26d	1	0.22mi
1301 Warwick Ct Unit 1301 Sun City Center, FL	1.0	1.0	1102	$1,575	$1.43	26d	1	0.25mi
1104 Desert Hills Dr Sun City Center, FL	2.0	2.0	1383	$1,825	$1.32	19d	1	0.30mi
717 Indian Wells Ave Sun City Center, FL	2.0	2.0	1264	$1,595	$1.26	26d	1	0.30mi
207 Islip Way Sun City Center, FL	2.0	1.5	992	$1,500	$1.51	19d	1	0.33mi
704 Torrey Pines Ave Sun City Center, FL	2.0	1.0	981	$1,700	$1.73	16d	1	0.59mi
704 Torrey Pines Ave Sun City Center, FL	2.0	1.0	981	$1,675	$1.71	26d	1	0.59mi
1528 Chevy Chase Dr Sun City Center, FL	2.0	2.0	1346	$2,000	$1.49	26d	1	0.69mi
810 Oakmont Ave Sun City Center, FL	2.0	2.0	1266	$2,100	$1.66	26d	1	0.71mi
1802 Bedford Ter #182 Sun City Center, FL	1.0	1.5	960	$1,375	$1.43	23d	1	0.79mi
1802 Bedford Ter #182 Sun City Center, FL	1.0	1.5	800	$1,400	$1.75	19d	1	0.79mi
1802 Bedford Ln Sun City Center, FL	1.0–2.0	2.0	952	$1,800	$1.89	12d	2	0.81mi
16705 Myrtle Sand Dr Wimauma, FL	3.0	2.0	1253	$2,350	$1.88	26d	1	0.83mi
201 Bedford St #95 Sun City Center, FL	1.0	1.5	800	$1,450	$1.81	16d	1	0.88mi
202 Bedford Trl #99 Sun City Center, FL	1.0	1.0	800	$1,500	$1.88	6d	1	0.92mi
201 Kings Blvd #19 Sun City Center, FL	1.0	1.5	800	$1,495	$1.87	26d	1	0.92mi
1814 Foxhunt Dr Unit A Sun City Center, FL	1.0	1.5	800	$1,475	$1.84	26d	1	0.94mi
306 Fowling Ct Sun City Center, FL	2.0	2.0	960	$1,700	$1.77	26d	1	0.94mi
201 Bedford Trl Unit F128 Sun City Center, FL	2.0	2.0	960	$1,275	$1.33	26d	1	0.94mi
1901 Andover Way #38 Sun City Center, FL	1.0	1.5	800	$1,495	$1.87	26d	1	0.99mi
4902 Cosmos Cir Wimauma, FL	3.0	1.0–3.5	1231	$2,345	$1.90	0d	38	1.00mi
403 Finchley Ct Unit B Sun City Center, FL	2.0	2.0	960	$2,000	$2.08	26d	1	1.01mi
409 Feltham Trl Unit B Sun City Center, FL	2.0	2.0	984	$1,650	$1.68	26d	1	1.06mi
101 Cambridge Trl Sun City Center, FL	1.0–2.0	1.5–2.0	880	$1,650	$1.88	13d	1	1.16mi
301 Kings Blvd #138 Sun City Center, FL	1.0	1.5	1020	$1,800	$1.76	23d	1	1.17mi
2202 Clubhouse Dr #169 Sun City Center, FL	2.0	2.0	984	$1,450	$1.47	6d	1	1.27mi
2202 Clubhouse Dr #187 Sun City Center, FL	1.0	1.5	800	$1,550	$1.94	26d	1	1.27mi
323 Knottwood Ct Sun City Center, FL	1.0	1.0	908	$1,290	$1.42	26d	1	1.35mi
323 Knottwood Ct #1 Sun City Center, FL	1.0	1.0	908	$1,090	$1.20	6d	1	1.35mi
302 Canton Ct #62 Sun City Center, FL	1.0	1.5	800	$1,575	$1.97	19d	1	1.36mi
5029 Sable Chime Dr Wimauma, FL	3.0	2.0	1451	$2,420	$1.67	15d	1	1.38mi
1906 Canterbury Ln #26 Sun City Center, FL	2.0	2.0	1200	$1,750	$1.46	1d	1	1.44mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $205,000 Active 136 DOM
2. 2026-06-18
   days on market $205,000 Active 133 DOM
3. 2026-06-17
   days on market $205,000 Active 132 DOM
4. 2026-06-16
   days on market $205,000 Active 131 DOM
5. 2026-06-15
   days on market $205,000 Active 130 DOM
6. 2026-06-13
   days on market $205,000 Active 128 DOM
7. 2026-06-13
   days on market $205,000 Active 127 DOM
8. 2026-06-09
   days on market $205,000 Active 124 DOM
9. 2026-06-08
   days on market $205,000 Active 123 DOM
10. 2026-06-07
    days on market $205,000 Active 122 DOM
11. 2026-06-04
    days on market $205,000 Active 119 DOM
12. 2026-06-03
    days on market $205,000 Active 118 DOM
13. 2026-06-02
    days on market $205,000 Active 117 DOM
14. 2026-06-01
    days on market $205,000 Active 116 DOM
15. 2026-05-31
    days on market $205,000 Active 115 DOM
16. 2026-02-05
    listed $205,000 Active 434-char remark

    Show marketing remark (434 chars)

    Very close to all the areas shopping centers and easy access to major highways and Interstate I-75. This 2br/2ba with attached garage is very clean and was remodeled in 2019. Modern "wood look" ceramic tile throughout make cleaning a breeze. Very low monthly association fees and access to a number of SCC's facilties. Note: described as "Condo" however this is a separate independent single family home structure.

17. 2019-12-02
    soldstatus $131,500
18. 2019-11-22
    soldstatus $131,500 Sold 1424-char remark

    Show marketing remark (1424 chars)

    This move in ready 2 bedroom, two bath condominium offers a comfortable floorplan featuring a spacious living room plus a separate dining room along with an updated kitchen featuring new cabinetry, countertops, flooring and fixtures. The comfortable master suite includes a walk-in closet and a private bath with new cabinetry and flooring. The second bedroom is adjacent to the second full bath with updated flooring, cabinetry and basin. Also included is a comfortable Florida room with vinyl windows for year around comfort. The large utility room includes the washer and dryer and the one and one half car garage comes complete with plenty of storage shelving. Numerous updates include new ceramic wood look flooring throughout home, new kitchen and bath cabinetry, new water heater, refrigerator, dishwasher, fresh paint inside and exterior. Double pane sliding glass doors and more. Sun City Center is a premiere 55+ community. Amenities include several golf courses, a great fitness center, indoor Olympic sized lap pool, resistance pool and outdoor pool. There are clubs & activities for any interest including softball, tennis, arts and crafts, woodworking, lawn bowling, dancing and more. Great location on the East side of the bay and an easy drive to the beaches, Tampa, Sarasota and the Orlando parks. Act quickly before this home becomes someone else’s “Retirement Dream Come True. ”

19. 2019-11-06
    status Pending 1424-char remark

    Show marketing remark (1424 chars)

    This move in ready 2 bedroom, two bath condominium offers a comfortable floorplan featuring a spacious living room plus a separate dining room along with an updated kitchen featuring new cabinetry, countertops, flooring and fixtures. The comfortable master suite includes a walk-in closet and a private bath with new cabinetry and flooring. The second bedroom is adjacent to the second full bath with updated flooring, cabinetry and basin. Also included is a comfortable Florida room with vinyl windows for year around comfort. The large utility room includes the washer and dryer and the one and one half car garage comes complete with plenty of storage shelving. Numerous updates include new ceramic wood look flooring throughout home, new kitchen and bath cabinetry, new water heater, refrigerator, dishwasher, fresh paint inside and exterior. Double pane sliding glass doors and more. Sun City Center is a premiere 55+ community. Amenities include several golf courses, a great fitness center, indoor Olympic sized lap pool, resistance pool and outdoor pool. There are clubs & activities for any interest including softball, tennis, arts and crafts, woodworking, lawn bowling, dancing and more. Great location on the East side of the bay and an easy drive to the beaches, Tampa, Sarasota and the Orlando parks. Act quickly before this home becomes someone else’s “Retirement Dream Come True. ”

20. 2019-10-31
    listed $135,000 Active 1424-char remark

    Show marketing remark (1424 chars)

    This move in ready 2 bedroom, two bath condominium offers a comfortable floorplan featuring a spacious living room plus a separate dining room along with an updated kitchen featuring new cabinetry, countertops, flooring and fixtures. The comfortable master suite includes a walk-in closet and a private bath with new cabinetry and flooring. The second bedroom is adjacent to the second full bath with updated flooring, cabinetry and basin. Also included is a comfortable Florida room with vinyl windows for year around comfort. The large utility room includes the washer and dryer and the one and one half car garage comes complete with plenty of storage shelving. Numerous updates include new ceramic wood look flooring throughout home, new kitchen and bath cabinetry, new water heater, refrigerator, dishwasher, fresh paint inside and exterior. Double pane sliding glass doors and more. Sun City Center is a premiere 55+ community. Amenities include several golf courses, a great fitness center, indoor Olympic sized lap pool, resistance pool and outdoor pool. There are clubs & activities for any interest including softball, tennis, arts and crafts, woodworking, lawn bowling, dancing and more. Great location on the East side of the bay and an easy drive to the beaches, Tampa, Sarasota and the Orlando parks. Act quickly before this home becomes someone else’s “Retirement Dream Come True. ”

21. 2004-01-22
    soldstatus $81,500
22. 2003-05-14
    soldstatus $66,500

ⓘ 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: $1,517 · $126/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$184/yr (+$15/mo · 12.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,219
• − Mortgage interest: −$11,483
• − Property taxes: −$1,517
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − HOA: −$2,136
• − Depreciation: −$5,964
• Taxable loss: −$4,302
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $216/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Sun City Center

• Score: 78/100
• State rank: #178
• US rank: #2736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sun City Center, FL
• County: Hillsborough County · 1,540,968 people
• City population: 35,362
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 35,362
• Household income: $72,834
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 1382.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 13% Two or more races 11% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.27%
• Current HPI: 272.9767
• Rent YoY: ▲ 2.65%
• 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

+208.3% since first listed

7 events — show timeline

• 2026-02-05 Listed $205,000 ForSaleByOwner.com
• 2019-12-02 Sold (Public Records) $131,500 Public Records
• 2019-11-22 Sold (MLS) $131,500 Stellar MLS as Distributed by MLS Grid
• 2019-11-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-10-31 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2004-01-22 Sold (Public Records) $81,500 Public Records
• 2003-05-14 Sold (Public Records) $66,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,517 · +12.0% YoY. Source: county tax records.