2328 Pleasure Run Dr · Ruskin, FL 33570

$324,900

4 bd · 2.0 ba · 1,425 sqft · SingleFamily public records · 252 Days on market

Built 2007 4,784 sqft lot $60/mo HOA · 2% 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).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2328 Pleasure Run dr — a stunning and updated 2 story, 4-bedroom, 2-bathroom home with rear 1 car garage located in the back of the home. Located in the desirable Bayou Pass community, this home features a brand-new roof (2025), brand new a/c entire unit 2023, new water heater 2024, Home was RENOVATED in 2024 !! New flooring throughout, appliances, all ceilings fans and blinds replaced, new toilets and fresh interior paint — all designed for modern living and comfort. This Corner lot home come with lots of tree shade and parking for 5 cars in the driveway only 1 neighbor to the right of the home. No CDD and a LOW HOA make this home even more appealing! The Bayou Pass community offers 3 swimming pools, 3 fenced playgrounds, 2 clubhouses, a gym, coffee shop, and basketball courts. Conveniently located near I-75 for easy commutes to Tampa, Brandon, MacDill AFB, and Ellenton Premium Outlets. Enjoy the best of Florida living with nearby beaches, the Manatee River, dining, and shopping just minutes away. Schedule your showing today!!!

Key facts

• Renovated
• Brand new roof
• New flooring

Tags

• BRAND NEW ROOF
• NEW A C UNIT
• NEW WATER HEATER
• RENOVATED
• NEW FLOORING
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-24 ($-285/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (22.4% below list).
• Recommended offer: $252k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.7% in Ruskin — 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 71/100 on livability (#392 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B+; Watch: schools F, amenities F, health & safety 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 flat; 489 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• This rent runs 42% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $10k 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 252 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $325k implies a 885% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,214 (22.4% 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 252 days. Have you received any prior offers? Is the seller open to a 22% 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. 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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.9% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.35×
• Total profit: $-59,482
• Equity at exit: $48,444

10-year hold

• IRR: -16.0%
• Equity multiple: 0.18×
• Total profit: $-74,696
• Equity at exit: $28,091

Cash invested: $90,972 (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 33570

• Home prices YoY: -28.8%
• Rents YoY: 0.9%
• Active inventory: 489
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,522 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$117 /mo · $1,405/yr
• Insurance: −$135
• HOA: −$60
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $-24

Break-even live

Break-even rent $2,552

Max offer price $320,706

Occupancy floor 96%

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2304 Pleasure Run Dr Ruskin, FL	3.0	2.0	1276	$1,970	$1.54	3d	1	0.13mi
1501 21st St SE Ruskin, FL	4.0	2.0	1618	$2,155	$1.33	3d	1	0.25mi
2025 Peaceful Palm St Ruskin, FL	4.0	2.0	1606	$2,600	$1.62	14d	1	0.53mi
3119 Sleepy River Ave Ruskin, FL	3.0	2.5	1421	$2,233	$1.57	2d	9	1.20mi
1251 9th St SE Ruskin, FL	3.0–4.0	2.0–2.5	1650	$3,500	$2.12	5d	1	1.28mi
3402 Salt Air Dr Ruskin, FL	1.0–3.0	1.0–2.0	1061	$2,344	$2.21	2d	44	1.31mi
1029 Spotted Egret Loop Ruskin, FL	3.0	2.5	1463	$2,150	$1.47	5d	1	1.49mi

HOA detail

• Monthly dues: $60 · $720/yr
• Likely covers: waterlandscapingpoolgym

Listing history 10 events

1. 2026-06-08
   days on market $324,900 Active 252 DOM
2. 2026-06-07
   days on market $324,900 Active 251 DOM
3. 2026-06-04
   days on market $324,900 Active 248 DOM
4. 2026-06-03
   days on market $324,900 Active 247 DOM
5. 2026-06-02
   days on market $324,900 Active 246 DOM
6. 2026-06-01
   days on market $324,900 Active 245 DOM
7. 2026-05-31
   days on market $324,900 Active 244 DOM
8. 2025-09-29
   listed $324,900 Active 1067-char remark

   Show marketing remark (1067 chars)

   Welcome to 2328 Pleasure Run dr — a stunning and updated 2 story, 4-bedroom, 2-bathroom home with rear 1 car garage located in the back of the home. Located in the desirable Bayou Pass community, this home features a brand-new roof (2025), brand new a/c entire unit 2023, new water heater 2024, Home was RENOVATED in 2024 !! New flooring throughout, appliances, all ceilings fans and blinds replaced, new toilets and fresh interior paint — all designed for modern living and comfort. This Corner lot home come with lots of tree shade and parking for 5 cars in the driveway only 1 neighbor to the right of the home. No CDD and a LOW HOA make this home even more appealing! The Bayou Pass community offers 3 swimming pools, 3 fenced playgrounds, 2 clubhouses, a gym, coffee shop, and basketball courts. Conveniently located near I-75 for easy commutes to Tampa, Brandon, MacDill AFB, and Ellenton Premium Outlets. Enjoy the best of Florida living with nearby beaches, the Manatee River, dining, and shopping just minutes away. Schedule your showing today!!!

9. 2006-08-28
   soldstatus $33,000
10. 2003-11-03
    soldstatus $893,400

ⓘ 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: $1,405 · $117/mo
• Projected year-2 tax: $2,697 · $225/mo
• Expected delta: +$1,292/yr (+$108/mo · 92.0%)

ⓘ 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 ≥107°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: $30,266
• − Mortgage interest: −$18,199
• − Property taxes: −$1,405
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − HOA: −$720
• − Depreciation: −$9,452
• Taxable loss: −$5,977
• Est. tax savings @ 24.0%: +$1,434
• After-tax cash flow: $1,150/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 — Ruskin

• Score: 71/100
• State rank: #392
• US rank: #6879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruskin, FL
• County: Hillsborough County · 1,540,968 people
• City population: 33,319
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 33,319
• Household income: $72,172
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 611.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 32% Black 23% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 16% Puerto Rican 6% Cuban 1% Dominican 4%
• Common ancestry: Italian 2% Romanian 2% Hispanic 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 23% French/Haitian/Cajun 2%

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: ▼ -112.10%
• Current HPI: 277.8257
• Rent YoY: ▲ 0.90%
• 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

-63.6% since first listed

3 events — show timeline

• 2025-09-29 Listed $324,900 Stellar MLS as Distributed by MLS Grid
• 2006-08-28 Sold (Public Records) $33,000 Public Records
• 2003-11-03 Sold (Public Records) $893,400 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,405 · +14.7% YoY. Source: county tax records.