18664 SE 21st Pl · Silver Springs Shores East, FL 34488

$99,900

2 bd · 1.0 ba · 972 sqft · Manufactured public records · 80 Days on market

Built 1967 0.53 ac lot Est $81k · 24% over

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cheap handyman special with room to roam!Come see this furnished 3/1.5 1967 12x46 Skyline mobile home with a 14x30 frame addition featuring pine wood floor. New drainfield & system in 2011.Also features a 10x20 laundry building and 11x20 carport. All sits on two paved road lots being . 43 acres +/-. Needs a roof, floor coverings, shower wall worn out and ceiling tiles. Make the repairs or pull it out and bring in a replacement home. Has community water $14/month. A great winter retreat!!

Key facts

• Integrated rv hookup
• Indoor laundry room
• Finished shed

Tags

• INDOOR LAUNDRY ROOM
• FINISHED SHED
• INTEGRATED RV HOOKUP
• NEW FENCE

Property features AI

Finance

• Other: Unfurnished; Homestead exemption indicated; Lot is paved and roughly 0.53 acres (approx. 105 x 157 ft)

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Septic tank sewer; Electricity connected; Water connected
• Home design: Mobile home (single wide); One story; Faces north; Residential property
• Construction: Metal siding; Membrane and metal roof; Pillar/post/pier foundation; Building area reported as 1,392 sq ft
• Exterior features: Private mailbox; Storage

Interior

• Kitchen: Range; Range hood; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Open floorplan; Living room and dining room combined
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.2% in Silver Springs Shores East — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 201 active listings in the ZIP; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $100k implies a 376% 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; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.26% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.94%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $80,676
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18569 SE 22nd Ln	0.13mi	3/1.0 (+1)	984 (+1%)	2mo	$29,000	$29	85
18640 SE 22nd Ln	0.11mi	2/2.0	840 (-14%)	3mo	$70,000	$83	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $4,520
• Equity at exit: $14,895

10-year hold

• IRR: 13.7%
• Equity multiple: 2.09×
• Total profit: $30,624
• Equity at exit: $8,638

Cash invested: $27,972 (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 34488

• Home prices YoY: -26.1%
• Active inventory: 201
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$107 /mo · $1,288/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $325

Break-even live

Break-even rent $852

Max offer price $99,900

Occupancy floor 69%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-10
   days on market $99,900 Active 80 DOM
2. 2026-06-09
   days on market $99,900 Active 79 DOM
3. 2026-06-08
   days on market $99,900 Active 78 DOM
4. 2026-06-07
   statusdays on market $99,900 Active 77 DOM
5. 2026-04-30
   status Pending
6. 2026-03-19
   price $99,900
7. 2026-02-27
   price $109,000
8. 2026-02-13
   listed $115,000 Active
9. 2023-08-22
   soldstatus $21,000
10. 2013-04-19
    soldstatus $12,000 498-char remark

    Show marketing remark (498 chars)

    Cheap handyman special with room to roam!Come see this furnished 3/1.5 1967 12x46 Skyline mobile home with a 14x30 frame addition featuring pine wood floor. New drainfield & system in 2011.Also features a 10x20 laundry building and 11x20 carport. All sits on two paved road lots being . 43 acres +/-. Needs a roof, floor coverings, shower wall worn out and ceiling tiles. Make the repairs or pull it out and bring in a replacement home. Has community water $14/month. A great winter retreat!!

11. 2012-12-07
    listed $14,900 498-char remark

    Show marketing remark (498 chars)

    Cheap handyman special with room to roam!Come see this furnished 3/1.5 1967 12x46 Skyline mobile home with a 14x30 frame addition featuring pine wood floor. New drainfield & system in 2011.Also features a 10x20 laundry building and 11x20 carport. All sits on two paved road lots being . 43 acres +/-. Needs a roof, floor coverings, shower wall worn out and ceiling tiles. Make the repairs or pull it out and bring in a replacement home. Has community water $14/month. A great winter retreat!!

12. 1990-06-01
    soldstatus $25,000
13. 1986-06-01
    soldstatus $22,300

ⓘ 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: $1,288 · $107/mo
• Projected year-2 tax: $1,288 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,157
• − Mortgage interest: −$5,596
• − Property taxes: −$1,288
• − Insurance: −$500
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$2,906
• Taxable income: $2,442
• Est. tax owed @ 24.0%: −$586
• After-tax cash flow: $3,314/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: Marion
• NCES district ID: 1201260
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $40,015
• Composite: 35.61/100
• National rank: #4890
• State rank: #61 of 73 in FL

Livability — Silver Springs Shores East

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 11,525

Population outlook (Marion County) Hauer SSP2

• Today (2025): 365,905 people
• By 2030: 376,768 · +3.0%
• By 2040: 396,555 · +8.4%
• By 2050: 412,723 · +12.8%
• By 2075: 446,090 · +21.9%
• By 2100: 436,193 · +19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 8%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+31.6) · D 33.8% · R 65.5%
• 2008→2024 swing: -20.0pp toward R · 2008: -11.6pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+25.9 2016: R+26.2 2012: R+16.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.45%
• Current HPI: 227.3763
• Rent YoY: —
• Metro: —
• 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

+348.0% since first listed

9 events — show timeline

• 2026-04-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $109,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-22 Sold (Public Records) $21,000 Public Records
• 2013-04-19 Sold (MLS) $12,000 Stellar MLS as Distributed by MLS Grid
• 2012-12-07 Listed $14,900 Stellar MLS as Distributed by MLS Grid
• 1990-06-01 Sold (Public Records) $25,000 Public Records
• 1986-06-01 Sold (Public Records) $22,300 Public Records

Property tax history

+15.4%/yr

Latest (2025): $1,288 · +18.4% YoY. Source: county tax records.