I tried to get an "everything" bike by getting a hybrid. I sold mine after 6 months of usage. For me personally, the hybrid was not good on trails nor good on road. The hybrid was slipping on the trails and too heavy for the road.
I would get a used mountain bike for trails and a used road/touring bike from Craigslist for the road if $700 is your price range. Also, tax-free on Craigslist compared to prices in stores. I could not imagine using a hybrid for a sprint triathlon. It would take me forever to finish, even if only for 10 miles.
2014 Liv Lust
2013 Specialized Fate Expert with carbon wheelset (sold)
2012 Specialized Amira Elite
2010 Santa Cruz Juliana with R kit and Crampon pedals (sold)
2011 Specialized Ariel Sport,suspension post,Serfas Rx Women's Microfiber saddle (sold)