12 Pine Course Way · Silver Springs Shores, FL 34472

$124,900

2 bd · 2.0 ba · 902 sqft · SingleFamily public records · 4 Days on market

Built 1984 0.33 ac lot Est $143k · 12% under

---

Why this score? — see what drove the B 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 +24.9/30.0
• ARV discount +13.1/15.0
• DSCR +8.1/10.0
• Appreciation +8.0/10.0
• 1% rule +6.7/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Adorable and Move in Ready! This light bright home has an Open Floor plan. The kitchen has New Appliances. Tile floors in through except for the Bedrooms which have New Carpets. New vertical blinds on both sliding glass doors. Washer and dryer Included. Fresh paint in and outside. New well tank and pump. On an oversized lot on a quiet cul de sac. Great location to commute to Ocala, Summerfied or the Villages.

Key facts

• Big backyard
• Open floor plan
• 0.33 acre lot

Tags

• BIG BACKYARD
• OPEN FLOOR PLAN

Property features AI

Finance

• Other: Property zoned R1; Lot size about 0.33 acre (1/4 to less than 1/2 acre); Unfurnished; Universal property ID available
• HOA & community: No association

Exterior

• Parking: Attached garage (1 car)
• Utilities: Well water; Septic tank; Cable available
• Home design: Single family residence; One story; Faces north
• Construction: Stucco and frame construction; Shingle roof; Built on slab foundation
• Exterior features: Rain gutters; Asphalt/paved road access; Lot dimensions approximately 103 x 140

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Walk-in closet(s)
• Laundry & utility: Laundry in garage; Slab foundation

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.9% vs local median 4.7% in Silver Springs Shores — 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 68/100 on livability (#527 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment D, amenities F.
• 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.
• Zoned schools: Greenway Elementary School (math 33% / reading 35%, grade F, #1,744 of 2,144 statewide, top 82%, 736 students, 67% FRL); Lake Weir High School (math 23% / reading 34%, grade F, #458 of 667 statewide, top 69%, 1,483 students, 68% FRL).
• Market conditions: Rents flat; 674 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.9% local appreciation)).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.9% appreciation + 0.2% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.19%
• DSCR: 1.41
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $142,516
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Cedar Tree Ter	0.29mi	3/1.0 (+1)	1,008 (+12%)	8mo	$159,000	$158	52

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

Projected returns pro-forma

5.93% appreciation · 0.17% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.39×
• Total profit: $48,609
• Equity at exit: $77,985

10-year hold

• IRR: 19.3%
• Equity multiple: 4.50×
• Total profit: $122,505
• Equity at exit: $140,966

Cash invested: $34,972 (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 34472

• Home prices YoY: 2.4%
• Rents YoY: 0.2%
• Active inventory: 674
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$655
• Tax from tax record: −$181 /mo · $2,173/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $268

Break-even live

Break-even rent $1,124

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $339	-5% $303	+0% $268	+5% $233	+10% $197
Rent	-10% $152	-5% $210	+0% $268	+5% $326	+10% $383
Rate	-1.0pp $331	-0.5pp $300	base $268	+0.5pp $236	+1.0pp $203

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Cedar Ln Ocala, FL	3.0	2.0	1064	$1,750	$1.64	21d	1	0.39mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	21d	1	0.64mi
7215 Midway Ter Ocala, FL	2.0	2.0	975	$1,175	$1.21	21d	1	0.80mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	0.89mi
544 Silver Crse Ocala, FL	2.0	1.0	904	$1,395	$1.54	14d	1	1.32mi
66 Laurel Pass Ocala, FL	2.0	2.0	974	$1,175	$1.21	21d	1	1.39mi
54 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	21d	1	1.39mi
58 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	21d	1	1.39mi

Listing history 12 events

1. 2026-05-18
   status Pending
2. 2026-05-16
   status Active
3. 2026-05-16
   price $124,900
4. 2026-05-09
   status Pending
5. 2026-05-06
   listed $149,900 Active
6. 2018-12-04
   soldstatus $85,000
7. 2018-12-03
   soldstatus $85,000 413-char remark

   Show marketing remark (413 chars)

   Adorable and Move in Ready! This light bright home has an Open Floor plan. The kitchen has New Appliances. Tile floors in through except for the Bedrooms which have New Carpets. New vertical blinds on both sliding glass doors. Washer and dryer Included. Fresh paint in and outside. New well tank and pump. On an oversized lot on a quiet cul de sac. Great location to commute to Ocala, Summerfied or the Villages.

8. 2018-09-26
   listed $82,000 413-char remark

   Show marketing remark (413 chars)

   Adorable and Move in Ready! This light bright home has an Open Floor plan. The kitchen has New Appliances. Tile floors in through except for the Bedrooms which have New Carpets. New vertical blinds on both sliding glass doors. Washer and dryer Included. Fresh paint in and outside. New well tank and pump. On an oversized lot on a quiet cul de sac. Great location to commute to Ocala, Summerfied or the Villages.

9. 2018-08-27
   soldstatus $72,000
10. 2018-08-24
    soldstatus $72,000 416-char remark

    Show marketing remark (416 chars)

    Perfect starter home or great investment! Fresh paint on the inside, tile throughout living area, new carpet in bedrooms, master bedroom has large walk in closet, open floor plan, real wood cabinets in kitchen. The double sliding glass doors paired with the large windows makes this 1214 sq. ft. home feel so much larger. Located on a cul-de-sac with no neighbors to the right or front, new construction in the area!

11. 2018-08-08
    listed $79,000 416-char remark

    Show marketing remark (416 chars)

    Perfect starter home or great investment! Fresh paint on the inside, tile throughout living area, new carpet in bedrooms, master bedroom has large walk in closet, open floor plan, real wood cabinets in kitchen. The double sliding glass doors paired with the large windows makes this 1214 sq. ft. home feel so much larger. Located on a cul-de-sac with no neighbors to the right or front, new construction in the area!

12. 1984-06-01
    soldstatus $63,500

ⓘ 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: $2,173 · $181/mo
• Projected year-2 tax: $2,173 · $181/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,559
• − Mortgage interest: −$6,996
• − Property taxes: −$2,173
• − Insurance: −$624
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$3,633
• Taxable income: $1,323
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,897/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

• Score: 68/100
• State rank: #527
• US rank: #9854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Springs Shores, FL
• County: Marion County · 315,796 people
• City population: 34,665
• Metro: Ocala, FL
• Population (ZIP): 35,851
• Household income: $64,208
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 655.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 25% Black 21% Two or more races 18% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14% Cuban 3%
• Common ancestry: Romanian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 19% Other Indo-European 1%

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: ▲ 5.93%
• Current HPI: 255.0714
• Rent YoY: ▲ 0.17%
• Metro: Ocala, 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

+96.7% since first listed

12 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-16 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2018-12-04 Sold (Public Records) $85,000 Public Records
• 2018-12-03 Sold (MLS) $85,000 Stellar MLS as Distributed by MLS Grid
• 2018-09-26 Listed $82,000 Stellar MLS as Distributed by MLS Grid
• 2018-08-27 Sold (Public Records) $72,000 Public Records
• 2018-08-24 Sold (MLS) $72,000 Stellar MLS as Distributed by MLS Grid
• 2018-08-08 Listed $79,000 Stellar MLS as Distributed by MLS Grid
• 1984-06-01 Sold (Public Records) $63,500 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,173 · +23.9% YoY. Source: county tax records.