21520 SE 147th Ln · Silver Springs Shores East, FL 32784

$139,900

4 bd · 2.0 ba · 2,383 sqft · Manufactured public records · 33 Days on market

Built 2008 0.64 ac lot ↓ 7% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• 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

Under contract-accepting backup offers. Attention investors and visionaries, your next project starts here. Set on a generous 0.64-acre lot in the quiet surroundings of Umatilla, this 4-bedroom, 2-bath manufactured home offers a rare opportunity to create value from the ground up. Built in 2008 and ready for a full transformation, this property is the perfect canvas for those looking to renovate, redesign, or reimagine. The expansive lot provides ample space for outdoor enhancements, additions, or simply enjoying the privacy and open nature setting. A pier foundation and existing storage shed add to the property’s functionality, giving you a solid framework to bring your ideas to life

Key facts

• Outdoor enhancements
• 0.64-acre lot
• Pier foundation

Tags

• 0.64-ACRE LOT
• OUTDOOR ENHANCEMENTS
• PIER FOUNDATION
• EXISTING STORAGE SHED

Property features AI

Finance

• Other: Property zoned R4
• Financial info: No lease restrictions
• HOA & community: No association (no HOA)

Exterior

• Parking: No specific parking information provided
• Security: No specific security features provided
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Manufactured double-wide home; Single-story (one level); Faces west; Completed condition; Entry on main level
• Construction: Vinyl siding; Shingle roof; Crawl space / pillar, post, pier foundation; Built as double-wide manufactured home
• Exterior features: Balcony; Shed(s) and additional storage; Above-ground private pool; Trees and landscaped areas; Wooded areas; Cleared and level yard; Greenbelt; Irregular and oversized lot; Unpaved/dirt road access; Public maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; High ceilings; Kitchen/family room combo; Walk-in closets; Blinds on windows; Wood burning fireplace
• Laundry & utility: Dedicated laundry room; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 B — 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.
• Zoned schools: Stanton-Weirsdale Elementary School (math 42% / reading 36%, grade F, #1,560 of 2,144 statewide, top 73%, 544 students, 70% FRL); Lake Weir High School (math 23% / reading 34%, grade F, #458 of 667 statewide, top 69%, 1,483 students, 68% FRL).
• Market conditions: 223 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.35% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.65%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $11,957
• Equity at exit: $20,860

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $55,057
• Equity at exit: $12,096

Cash invested: $39,172 (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 32784

• Home prices YoY: -8.5%
• Active inventory: 223
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $543

Break-even live

Break-even rent $1,208

Max offer price $139,900

Occupancy floor 66%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   status $139,900 Pending 33 DOM
2. 2026-06-02
   days on market $139,900 Active 33 DOM
3. 2026-06-01
   days on market $139,900 Active 32 DOM
4. 2026-05-31
   days on market $139,900 Active 31 DOM
5. 2026-05-30
   days on market $139,900 Active 30 DOM
6. 2026-05-12
   price $144,900 856-char remark
7. 2026-04-30
   listed $149,900 Active 856-char remark

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $1,945 · $162/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 5/10 Major
• 🌡 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,745
• − Mortgage interest: −$7,837
• − Property taxes: −$1,945
• − Insurance: −$700
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$4,070
• Taxable income: $4,555
• Est. tax owed @ 24.0%: −$1,093
• After-tax cash flow: $5,427/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): 9,859

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8% German/W. Germanic 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: ▼ -32.66%
• Current HPI: 352.4197
• 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

-6.7% since first listed

4 events — show timeline

• 2026-06-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-23 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $144,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Listed $149,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $1,945 · +14.2% YoY. Source: county tax records.