3509 SE 92nd St · Belleview, FL 34480

$138,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 59 Days on market

Built 1988 9,583 sqft 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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

Key facts

• Open rear patio
• 9,583 sq ft lot
• Built 1988

Tags

• FULLY UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• CHARMING FRONT PORCH DECK
• CHAIN-LINK FENCED YARD
• OPEN REAR PATIO
• CONVENIENT STORAGE SHED

Property features AI

Finance

• Other: Zoning: R4
• Financial info:
• HOA & community: No association; Pets allowed

Exterior

• Parking:
• Security:
• Utilities: Well water; Septic tank; High-speed internet available; Electricity connected; One well; One septic system
• Home design: Manufactured double-wide home; Single-story; South-facing entry
• Construction: Wood siding; Metal roof; Crawlspace foundation; Built as a manufactured home (double wide)
• Exterior features: Chain link fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $134k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.5% in Belleview — 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 69/100 on livability (#458 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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: Belleview Elementary School (math 48% / reading 44%, grade D-, #1,234 of 2,144 statewide, top 58%, 650 students, 73% FRL); Belleview High School (math 31% / reading 46%, grade F, #321 of 667 statewide, top 49%, 1,783 students, 56% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: Rents rising (+2.8%/yr); 344 active listings in the ZIP; solid renter incomes; 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 $954 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 + 2.8% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $22k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $138k implies a 97% 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; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,860 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $3,374
• Equity at exit: $20,576

10-year hold

• IRR: 11.7%
• Equity multiple: 1.91×
• Total profit: $35,309
• Equity at exit: $11,932

Cash invested: $38,640 (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 34480

• Home prices YoY: -28.7%
• Rents YoY: 2.8%
• Active inventory: 344
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$724
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $408

Break-even live

Break-even rent $1,140

Max offer price $138,000

Occupancy floor 70%

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-29
   status Pending
2. 2026-04-21
   status Active
3. 2026-04-03
   status Pending
4. 2026-03-28
   price $138,000
5. 2026-03-11
   price $150,000
6. 2026-02-12
   listed $160,000 Active
7. 2025-04-09
   soldstatus $70,000 Closed 447-char remark

   Show marketing remark (447 chars)

   Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

8. 2025-04-09
   soldstatus $70,000

   Show marketing remark (447 chars)

   Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

9. 2025-02-25
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

10. 2025-02-24
    price $71,000 447-char remark

    Show marketing remark (447 chars)

    Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

11. 2025-01-15
    listed $80,000 Active 447-char remark

    Show marketing remark (447 chars)

    Opportunity Knocks! Just off scenic 95th street on the outskirts of the Cross Florida Greenway near the Santos Trails you'll find this partially renovated doublewide home with fully fenced yard, 8x10 shed, poured slab, and mature oak trees. Home sits on a paved road and is conveniently located between Ocala and The Villages. Investor Alert! Bring your toolbelt and take advantage of this opportunity before someone else does. As Is. Cash Only.

12. 2024-02-01
    status Pending
13. 2023-11-20
    listed $100,000 Active
14. 1993-10-05
    soldstatus $24,500
15. 1988-08-01
    soldstatus $8,500

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $1,435 · $120/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 18 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: $19,885
• − Mortgage interest: −$7,730
• − Property taxes: −$1,435
• − Insurance: −$690
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$4,015
• Taxable income: $2,834
• Est. tax owed @ 24.0%: −$680
• After-tax cash flow: $4,220/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 — Belleview

• Score: 69/100
• State rank: #458
• US rank: #8314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marion County · 315,796 people
• City population: 19,167
• Metro: Ocala, FL
• Population (ZIP): 23,517
• Household income: $77,557
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 169.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 11% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 2% Dominican 2%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Asian/Pacific 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: ▼ -85.60%
• Current HPI: 212.4262
• Rent YoY: ▲ 2.84%
• 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

+1523.5% since first listed

15 events — show timeline

• 2026-04-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $138,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-09 Sold (Public Records) $70,000 Public Records
• 2025-04-09 Sold (MLS) $70,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-02-24 Price Changed $71,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-15 Listed $80,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-11-20 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 1993-10-05 Sold (Public Records) $24,500 Public Records
• 1988-08-01 Sold (Public Records) $8,500 Public Records

Property tax history

+16.5%/yr

Latest (2025): $1,435 · +12.8% YoY. Source: county tax records.