4601 NE 20th Ave

Ocala, FL 34479

$146,000B-

2 bd · 2.0 ba · 1,157 sqft · Built 1984 · SingleFamily · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,590/mo
• Mortgage (P&I): −$766
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$334
• Net cashflow: $387/mo
• Annual: $4,641/yr
• Cap rate: 9.47%
• Cash-on-cash: 11.35%
• DSCR: 1.51
• 1% rule: 1.09%
• Cash to close: $40,880

Investor read

• This is a 2-bed/2.0-bath single-family listed at $146k. Condition is rated fair.
• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• It's been on market 70 days — a 6% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#476 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: Oakcrest Elementary School (math 38% / reading 32%, grade F, #1,697 of 2,144 statewide, top 80%, 470 students, 83% FRL); Howard Middle School (math 47% / reading 50%, grade C-, #274 of 571 statewide, top 50%, 980 students, 60% FRL); Vanguard High School (math 22% / reading 48%, grade F, #379 of 667 statewide, top 58%, 1,661 students, 59% FRL).
• Market conditions: 270 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% vs local median 4.2% in Ocala — 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.
• This rent runs 35% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — The cabinets are outdated and need replacement.
• Major: Kitchen countertops — The countertops are outdated and need replacement.
• Major: Flooring — The flooring in the kitchen and living room is worn and needs replacement.
• Moderate: Exterior siding — The siding is weathered and could benefit from repainting.
• Minor: Landscaping — The landscaping is overgrown and needs trimming.