3838 Lanyard Ct · Beacon Square, FL 34652

$102,500

2 bd · 2.0 ba · 1,144 sqft · Condo public records · 342 Days on market

Built 1981 $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 +20.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 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

MOTIVATED SELLERS - AMAZING VALUE - EXCELLENT LOCATION * * SERVICE OR EMOTIONAL PETS ALLOWED - 55+ MAINTENANCE FREE ~ Looking for a SEASONAL GET AWAY or full time Florida residence, you do not want to miss this private, light bright, well maintained ground floor split floor plan condo featuring 2 bedrooms, 2 baths, 1144 square feet, two lanai's, front and back, a covered carport with an outdoor storage closet. Just inside the front door is an open airy gathering room with sliding glass doors to the back lanai. The kitchen features ceramic tile floors, tile backsplash, closet pantry, full size laundry closet including the washer and dryer with sliding glass doors out to your private front

Key facts

• Shuffleboard court
• Ground floor
• Community clubhouse

Tags

• GROUND FLOOR
• PRIVATE LANAI
• COMMUNITY CLUBHOUSE
• FITNESS ROOM
• SHUFFLEBOARD COURT
• BOCCE BALL

Property features AI

Finance

• Other: Partially furnished; Unit located on the first floor
• Financial info: Total monthly fees $560; total annual fees $6,720; Lease restrictions apply
• HOA & community: HOA managed by Rachel Myers, Qualified Property Management; Monthly condo fee $560 (includes pool, water, sewer, trash, internet, pest control, maintenance of structure and grounds, recreational facilities, escrow reserves); Association amenities: clubhouse, fitness center, pool, spa/hot tub, shuffleboard court, recreation facilities, cable TV; Association approval required; Buyer approval required; Senior community; Pets not allowed

Exterior

• Parking: Covered parking; 1-car carport
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium; One story; Facing south; Entry on first floor
• Construction: Block construction; Shingle roof; Slab foundation; Building B
• Exterior features: Covered, enclosed and front and rear porches; Sliding doors; Storage; Mature landscaping; Cul-de-sac lot; Landscaped and paved areas

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Split bedroom layout; Walk-in closet(s); Window treatments (blinds)
• Laundry & utility: Washer and dryer included; Inside laundry in a laundry closet; Inside utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $102k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 $709 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 342 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $32k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $102k implies a 128% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 342 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.60% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 5.2

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: -11.6%
• Equity multiple: 0.59×
• Total profit: $-11,691
• Equity at exit: $15,283

10-year hold

• IRR: -8.3%
• Equity multiple: 0.56×
• Total profit: $-12,691
• Equity at exit: $8,862

Cash invested: $28,700 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$538
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$43
• HOA: −$560
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $130

Break-even live

Break-even rent $1,477

Max offer price $102,500

Occupancy floor 87%

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: $25,625
• Closing costs: $3,075
• 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	0.11mi
4022 Davit Dr New Port Richey, FL	2.0	2.0	1144	$1,600	$1.40	18d	1	0.19mi
4031 Davit Dr New Port Richey, FL	2.0	2.0	1144	$1,600	$1.40	18d	1	0.20mi
4301 Straits Ln New Port Richey, FL	3.0	1.5	1284	$1,790	$1.39	24d	1	0.22mi
4133 Grayton Dr New Port Richey, FL	2.0	1.5	1068	$1,727	$1.62	5d	1	0.35mi
4221 Touchton Pl New Port Richey, FL	2.0	2.0	888	$1,300	$1.46	24d	1	0.40mi
4124 Flamingo Dr New Port Richey, FL	3.0	1.0	744	$1,500	$2.02	3d	1	0.47mi
4124 Flamingo Dr New Port Richey, FL	3.0	1.0	744	$1,500	$2.02	15d	1	0.47mi
3433 Monticello St Holiday, FL	3.0	1.5	960	$1,650	$1.72	24d	1	0.50mi
3511 Cambridge St New Port Richey, FL	2.0	2.0	936	$2,100	$2.24	5d	1	0.54mi
3439 Clydesdale Dr Holiday, FL	2.0	1.0	968	$1,395	$1.44	5d	1	0.54mi
4211 Hampton Dr New Port Richey, FL	2.0	2.0	1050	$1,795	$1.71	5d	1	0.58mi
4408 Rustic Dr New Port Richey, FL	2.0	1.0	1101	$1,500	$1.36	24d	1	0.58mi
4411 Rustic Dr Unit 1 New Port Richey, FL	2.0	2.0	1050	$1,450	$1.38	12d	1	0.60mi
5020 Vickers Dr New Port Richey, FL	2.0	1.0	863	$1,550	$1.80	5d	1	0.63mi
3301 Rosefield Dr Holiday, FL	3.0	2.0	1340	$2,100	$1.57	18d	1	0.63mi
4117 Highland Loop New Port Richey, FL	3.0	2.0	1384	$1,599	$1.16	12d	1	0.75mi
4540 Irene Loop New Port Richey, FL	2.0	1.0	768	$1,550	$2.02	24d	1	0.77mi
3516 Sheryl Hill Dr Holiday, FL	2.0	2.0	848	$1,595	$1.88	24d	1	0.80mi
4616 Irene Loop New Port Richey, FL	2.0	1.0	898	$1,600	$1.78	20d	1	0.85mi
4721 Naftis Ln New Port Richey, FL	3.0	2.0	1104	$1,700	$1.54	12d	1	0.86mi
3252 Peterborough St Holiday, FL	3.0	2.0	1290	$1,631	$1.26	5d	1	0.87mi
4282 Rudder Way New Port Richey, FL	3.0	2.0	1310	$2,000	$1.53	3d	1	0.92mi
4282 Rudder Way New Port Richey, FL	3.0	2.0	1454	$2,000	$1.38	24d	1	0.92mi
3612 Springfield Dr Holiday, FL	2.0	1.5	1040	$1,450	$1.39	18d	1	0.92mi
5319 Drift Tide Dr New Port Richey, FL	2.0	1.5	1142	$1,500	$1.31	10d	1	0.92mi
4554 Nimmer Dr New Port Richey, FL	3.0	2.0	1180	$1,600	$1.36	15d	1	0.95mi
3445 Wiltshire Dr Holiday, FL	2.0	1.5	992	$1,450	$1.46	22d	1	0.95mi
5232 Sparrow Dr Holiday, FL	2.0	1.0	976	$1,975	$2.02	24d	1	0.97mi
4548 Belfast Dr New Port Richey, FL	3.0	1.0	1075	$1,575	$1.47	18d	1	0.98mi
4518 Audrey Ln Unit 4551 New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.02mi
4348 Plaza Dr Holiday, FL	1.0–2.0	1.0–2.0	860	$1,499	$1.74	2d	9	1.03mi
4852 Pompano Dr New Port Richey, FL	2.0	2.0	1104	$2,900	$2.63	24d	1	1.04mi
4529 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.04mi
4540 Audrey Ln New Port Richey, FL	2.0	1.0	750	$1,150	$1.53	24d	1	1.05mi
4551 Audrey Ln NEW PRT RCHY, FL	2.0	1.0	750	$1,295	$1.73	22d	1	1.05mi
4205 Jordana Way Holiday, FL	1.0–3.0	1.0–2.0	1027	$1,404	$1.37	2d	13	1.10mi
4939 Floramar Ter New Port Richey, FL	2.0	2.0	1050	$1,675	$1.60	24d	2	1.16mi
4939 Floramar Ter New Port Richey, FL	2.0	2.0	1050	$1,600	$1.52	2d	2	1.16mi
4939 Floramar Ter New Port Richey, FL	2.0	2.0	1050	$1,648	$1.57	17d	3	1.16mi

HOA detail condo

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

Listing history 29 events

1. 2026-06-18
   days on market $102,500 Active 342 DOM
2. 2026-06-17
   days on market $102,500 Active 341 DOM
3. 2026-06-16
   days on market $102,500 Active 340 DOM
4. 2026-06-15
   days on market $102,500 Active 339 DOM
5. 2026-06-13
   days on market $102,500 Active 337 DOM
6. 2026-06-09
   days on market $102,500 Active 333 DOM
7. 2026-06-08
   days on market $102,500 Active 332 DOM
8. 2026-06-07
   days on market $102,500 Active 331 DOM
9. 2026-06-04
   days on market $102,500 Active 328 DOM
10. 2026-06-03
    days on market $102,500 Active 327 DOM
11. 2026-06-02
    days on market $102,500 Active 326 DOM
12. 2026-06-02
    price $102,500 Active 325 DOM
13. 2026-06-01
    days on market $108,500 Active 325 DOM
14. 2026-05-31
    days on market $108,500 Active 324 DOM
15. 2026-04-22
    status Active
16. 2026-04-22
    price $108,500
17. 2026-03-13
    status Pending
18. 2026-03-05
    price $105,000
19. 2026-02-25
    status Active
20. 2026-02-21
    status Pending
21. 2026-01-20
    price $113,900
22. 2026-01-07
    price $114,000
23. 2025-11-06
    price $114,500
24. 2025-09-29
    price $117,000
25. 2025-07-18
    price $119,000
26. 2025-07-01
    price $129,000
27. 2025-05-28
    listed $135,000 Active
28. 1994-08-17
    soldstatus $44,900
29. 1993-10-22
    soldstatus $36,000

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $851 · $71/mo
• Expected delta: +$532/yr (+$44/mo · 166.5%)

ⓘ 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) · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 30 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: $19,702
• − Mortgage interest: −$5,742
• − Property taxes: −$319
• − Insurance: −$512
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − HOA: −$6,720
• − Depreciation: −$2,982
• Taxable income: $275
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $1,497/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
• 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

+201.4% since first listed

15 events — show timeline

• 2026-04-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $108,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $113,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $114,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $114,500 Stellar MLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $117,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-01 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-28 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 1994-08-17 Sold (Public Records) $44,900 Public Records
• 1993-10-22 Sold (Public Records) $36,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $319 · +7.6% YoY. Source: county tax records.