2331 Lancaster Dr · Sun City Center, FL 33573

$165,000

2 bd · 2.0 ba · 1,829 sqft · Condo public records · 59 Days on market

Built 1987 $823/mo HOA · 41% of rent

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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).

• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Cash flow +6.9/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0

Listing remarks MLS

Kings Point Lifestyle Meets Infinite Potential! Your Gateway to Resort Living! This spacious 2-bedroom, 2-full-bath residence is the ultimate find for the buyer who wants a premier 55+ lifestyle without paying a premium for someone else’s design choices. Bursting with potential, this home is the perfect "blank canvas" to add your own flair and build immediate sweat equity. Designed for both entertaining and comfort, the floor plan features a massive Living/Dining Room combo—the heart of the home—complemented by a bright, dedicated eat-in kitchen for casual morning coffee. Retreat to oversized bedrooms that serve as a true sanctuary; the Primary Suite is a standout, featuring a generous walk-in closet and a convenient separate linen closet for maximum storage. Curb appeal is built-in with a stylish paver driveway and lush, maintenance-free landscaping, ensuring your weekends are spent playing, not pruning. The large, screened-in front entry creates a welcoming "Florida room" atmosphere, perfect for catching cross-breezes and chatting with passing neighbors. This isn't just a house; it’s an all-access pass to an elite, golf-cart-friendly lifestyle. In Kings Point, the amenities are your extended backyard. Whether you’re heading out in your golf cart for a morning of golf, pickleball or tennis, or taking a dip in one of the indoor or outdoor pools, or exploring one of the hundreds of social clubs, organizations and creative classes, there is never a dull moment. Why settle for standard when you can create your dream home? Grab your golf cart and come see the potential for yourself today!

Key facts

• Oversized bedrooms
• Paver driveway
• Walk in closet

Tags

• MASSIVE LIVING DINING ROOM
• DEDICATED EAT IN KITCHEN
• OVERSIZED BEDROOMS
• WALK IN CLOSET
• SEPARATE LINEN CLOSET
• PAVER DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-253 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (27.0% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $120k (27.0% below list) — sets the bar for cash-flow.

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: schools D+, 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.
• Market conditions: Rents rising (+2.6%/yr); 602 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $5k 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 59 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $103k; list at $165k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,374 (27.0% 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 59 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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 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?
7. 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?
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: 1.22% ✓
• Cap rate: 4.46%
• Cash-on-cash: -6.56%
• DSCR: 0.71
• GRM: 6.8

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: -27.9%
• Equity multiple: 0.07×
• Total profit: $-43,070
• Equity at exit: $24,602

10-year hold

• IRR: -27.4%
• Equity multiple: -0.28×
• Total profit: $-59,220
• Equity at exit: $14,266

Cash invested: $46,200 (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 33573

• Home prices YoY: -1.2%
• Rents YoY: 2.6%
• Active inventory: 602
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,019 high
• Mortgage (P&I): −$865
• Tax from tax record: −$90 /mo · $1,085/yr
• Insurance: −$69
• HOA: −$823
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-253

Break-even live

Break-even rent $2,339

Max offer price $120,374

Occupancy floor —

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 Idlewood Dr Sun City Center, FL	2.0	2.0	1642	$1,750	$1.07	16d	1	0.08mi
1415 Langley Dr Sun City Center, FL	2.0	2.0	1359	$1,850	$1.36	24d	1	0.15mi
2117 Harleston Pl Unit 2117 Sun City Center, FL	2.0	2.0	1448	$2,500	$1.73	24d	1	0.22mi
1624 Layton Ct Unit 1624 Sun City Center, FL	2.0	2.0	1878	$2,000	$1.06	5d	1	0.25mi
731 Masterpiece Dr Sun City Center, FL	3.0	2.5	2082	$2,200	$1.06	22d	1	0.34mi
2006 Hampstead Cir Unit N/A Sun City Center, FL	2.0	2.0	1474	$1,800	$1.22	24d	1	0.36mi
822 McCallister Ave Unit 822 Sun City Center, FL	2.0	2.0	1564	$1,975	$1.26	22d	1	0.59mi
1161 Jameson Greens Dr Sun City Center, FL	3.0	2.0	1292	$1,900	$1.47	24d	1	0.92mi
1237 Corinth Greens Dr #40 Sun City Center, FL	2.0	2.0	1610	$1,500	$0.93	20d	1	1.10mi
3402 Salt Air Dr Ruskin, FL	1.0–3.0	1.0–2.0	1061	$1,977	$1.86	2d	44	1.12mi
1256 Corinth Greens Dr Sun City Center, FL	2.0	2.0	1450	$2,150	$1.48	15d	1	1.16mi
2068 Sifield Greens Way Sun City Center, FL	2.0	2.0	1414	$2,200	$1.56	24d	1	1.21mi
3794 Maxwell Park Dr Sun City Center, FL	2.0	2.0	1506	$2,600	$1.73	4d	1	1.22mi
2052 Inverness Greens Dr Sun City Center, FL	2.0	2.0	1376	$2,100	$1.53	24d	1	1.29mi
1309 Fairway Greens Dr Sun City Center, FL	3.0	2.0	1420	$1,750	$1.23	24d	1	1.29mi
3119 Sleepy River Ave Ruskin, FL	3.0	2.5	1421	$2,233	$1.57	2d	9	1.35mi
1103 Villeroy Dr Sun City Center, FL	3.0	2.0	1490	$2,500	$1.68	11d	1	1.36mi
1201 Fordham Dr Sun City Center, FL	2.0	2.0	1582	$1,950	$1.23	18d	1	1.38mi
1812 New Bedford Dr Sun City Center, FL	3.0	2.0	2606	$2,200	$0.84	20d	1	1.40mi
2304 Pleasure Run Dr Ruskin, FL	3.0	2.0	1276	$1,970	$1.54	4d	1	1.46mi

HOA detail condo

• Monthly dues: $823 · $9,876/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $165,000 Active 59 DOM
2. 2026-06-17
   days on market $165,000 Active 58 DOM
3. 2026-06-16
   days on market $165,000 Active 57 DOM
4. 2026-06-15
   days on market $165,000 Active 56 DOM
5. 2026-06-13
   days on market $165,000 Active 54 DOM
6. 2026-06-13
   days on market $165,000 Active 53 DOM
7. 2026-06-09
   days on market $165,000 Active 50 DOM
8. 2026-06-08
   days on market $165,000 Active 49 DOM
9. 2026-06-07
   days on market $165,000 Active 48 DOM
10. 2026-06-04
    days on market $165,000 Active 45 DOM
11. 2026-06-03
    days on market $165,000 Active 44 DOM
12. 2026-06-02
    days on market $165,000 Active 43 DOM
13. 2026-06-01
    days on market $165,000 Active 42 DOM
14. 2026-05-31
    days on market $165,000 Active 41 DOM
15. 2026-04-20
    listed $165,000 Active 1662-char remark

    Show marketing remark (1662 chars)

    Kings Point Lifestyle Meets Infinite Potential! Your Gateway to Resort Living! This spacious 2-bedroom, 2-full-bath residence is the ultimate find for the buyer who wants a premier 55+ lifestyle without paying a premium for someone else’s design choices. Bursting with potential, this home is the perfect "blank canvas" to add your own flair and build immediate sweat equity. Designed for both entertaining and comfort, the floor plan features a massive Living/Dining Room combo—the heart of the home—complemented by a bright, dedicated eat-in kitchen for casual morning coffee. Retreat to oversized bedrooms that serve as a true sanctuary; the Primary Suite is a standout, featuring a generous walk-in closet and a convenient separate linen closet for maximum storage. Curb appeal is built-in with a stylish paver driveway and lush, maintenance-free landscaping, ensuring your weekends are spent playing, not pruning. The large, screened-in front entry creates a welcoming "Florida room" atmosphere, perfect for catching cross-breezes and chatting with passing neighbors. This isn't just a house; it’s an all-access pass to an elite, golf-cart-friendly lifestyle. In Kings Point, the amenities are your extended backyard. Whether you’re heading out in your golf cart for a morning of golf, pickleball or tennis, or taking a dip in one of the indoor or outdoor pools, or exploring one of the hundreds of social clubs, organizations and creative classes, there is never a dull moment. Why settle for standard when you can create your dream home? Grab your golf cart and come see the potential for yourself today!

16. 2002-07-08
    soldstatus $102,900
17. 1994-12-30
    soldstatus $85,000
18. 1987-03-01
    soldstatus $84,800

ⓘ 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: $1,085 · $90/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$284/yr (+$24/mo · 26.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 27 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: $24,226
• − Mortgage interest: −$9,243
• − Property taxes: −$1,085
• − Insurance: −$825
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$9,876
• − Depreciation: −$4,800
• Taxable loss: −$5,479
• Est. tax savings @ 24.0%: +$1,315
• After-tax cash flow: $-1,716/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

+94.6% since first listed

4 events — show timeline

• 2026-04-20 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2002-07-08 Sold (Public Records) $102,900 Public Records
• 1994-12-30 Sold (Public Records) $85,000 Public Records
• 1987-03-01 Sold (Public Records) $84,800 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,085 · +9.7% YoY. Source: county tax records.