18351 SE 62nd Pl · Silver Springs Shores East, FL 32179

$5,000

3 bd · 2.0 ba · 1,352 sqft · Manufactured public records · 11 Days on market

Built 2002 3.00 ac lot

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Foreclosure Auction Ends June 8, 2026 at 11:00 AM EST. Explore this charming 3-bedroom, 2-bath residence set in a peaceful and well-located Ocklawaha community. The list price is the opening bid for the online auction. Sold As-is. Explore more details and submit your bid through Federa Home App.

Key facts

• 3 acre lot
• Built 2002
• Listed 10 days

Property features AI

Finance

• Other: Zoning: A-1; Lot size: 3 acres; Frontage length: 197; Road surface: Other; Directions: From SE Maricamp Rd (SR-464C), turn onto SE 183rd Ave Rd, then onto SE 62nd Pl and continue to the property.

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Other water source; Other sewer
• Home design: Single-family residence; One level; Residential property
• Construction: Construction materials: see remarks
• Exterior features: Front porch; Other roof

Interior

• Bedrooms: 1 total room (studio/combined space)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Other flooring

🔨 Auction listing. The $5,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $150,072 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $5k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 9.0% 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: 426 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• This rent runs 45% of the median local income ($47k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 45.0% of price.
• 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 $5,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $150,072
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18540 SE 53 Pl	0.64mi	3/2.0	1,352 (0%)	14mo	$149,900	$111	59
5515 SE 182nd Ter	0.49mi	2/2.0 (-1)	1,256 (-7%)	6mo	$100,000	$80	55

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-2,739
• Equity at exit: $22,376

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $25,475
• Equity at exit: $12,975

Cash invested: $42,020 (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 32179

• Home prices YoY: -18.3%
• Active inventory: 426
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $1,741 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,251/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $338

Break-even live

Break-even rent $1,313

Max offer price $150,072

Occupancy floor 76%

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: $37,518
• Closing costs: $4,502
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17200 SE 56th St Ocklawaha, FL	3.0	2.0	1275	$1,500	$1.18	21d	1	1.33mi

Listing history 10 events

1. 2026-06-08
   days on market $5,000 Active 11 DOM
2. 2026-06-07
   days on market $5,000 Active 10 DOM
3. 2026-06-03
   days on market $5,000 Active 6 DOM
4. 2026-06-02
   days on market $5,000 Active 5 DOM
5. 2026-06-01
   days on market $5,000 Active 4 DOM
6. 2026-05-31
   days on market $5,000 Active 3 DOM
7. 2026-05-30
   days on market $5,000 Active 2 DOM
8. 2026-05-28
   listed $5,000 Active
9. 1994-06-01
   soldstatus $14,500
10. 1991-04-01
    soldstatus $3,626

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,894
• − Mortgage interest: −$8,406
• − Property taxes: −$2,251
• − Insurance: −$750
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$4,366
• Taxable income: $1,777
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $3,634/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

• County: Marion County · 315,796 people
• Metro: Ocala, FL
• Population (ZIP): 9,318
• Household income: $46,512
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 303.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 12% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3%
• Common ancestry: Slovak 4% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -54.21%
• Current HPI: 242.0408
• Rent YoY: —
• 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

+37.9% since first listed

3 events — show timeline

• 2026-05-28 Listed $5,000 HAOR as distributed by MLS GRID
• 1994-06-01 Sold (Public Records) $14,500 Public Records
• 1991-04-01 Sold (Public Records) $3,626 Public Records

Property tax history

+3.2%/yr

Latest (2025): $990 · +28.0% YoY. Source: county tax records.