9228 NE Jacksonville Rd · Silver Springs, FL 32617

$150,000

2 bd · 2.0 ba · 1,014 sqft · MultiFamily public records · 12 Days on market

Built 1980 3.03 ac lot

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Why this score? — see what drove the D- 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 +11.1/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Under contract-accepting backup offers. Calling all investors! Cash-only opportunity being sold AS IS. The value is in the land, situated on approximately 3.03 acres in a desirable area. The property includes four mobile homes, with conditions unknown. The mobile homes may require removal or could offer potential for renovation or future use. No warranties or representations are made regarding the structures. Property is zoned A-1 or B-2, offering potential commercial or investment opportunities. Buyer to perform their own due diligence regarding zoning, land use, and development options.

Key facts

• Zoned a-1
• Four mobile homes
• Zoned b-2

Tags

• APPROXIMATELY 3.03 ACRES
• FOUR MOBILE HOMES
• ZONED A-1
• ZONED B-2

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $-61 ($-736/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (14.8% below list).
• Recommended offer: $128k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.2% in Silver Springs — 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 D — 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: 41 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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

• 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.
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,807 (14.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 9.8

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: -19.2%
• Equity multiple: 0.33×
• Total profit: $-28,174
• Equity at exit: $22,365

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-29,401
• Equity at exit: $12,969

Cash invested: $42,000 (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 32617

• Home prices YoY: -12.5%
• Active inventory: 41
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,278 high
• Mortgage (P&I): −$787
• Tax from tax record: −$222 /mo · $2,663/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-61

Break-even live

Break-even rent $1,356

Max offer price $139,161

Occupancy floor 100%

Sensitivity live

Price	-10% $24	-5% $-19	+0% $-61	+5% $-104	+10% $-146
Rent	-10% $-162	-5% $-112	+0% $-61	+5% $-11	+10% $40
Rate	-1.0pp $14	-0.5pp $-23	base $-61	+0.5pp $-100	+1.0pp $-140

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2012 NE 80th Pl Ocala, FL	2.0	1.0	1167	$1,450	$1.24	14d	1	1.04mi
2077 NE 78th Ln Ocala, FL	2.0	2.0	984	$1,250	$1.27	14d	1	1.14mi
2103 NE 78th Ln Ocala, FL	2.0	2.0	984	$1,199	$1.22	21d	1	1.15mi
2169 NE 78th Ln Ocala, FL	2.0	2.0	984	$1,175	$1.19	14d	1	1.16mi
2269 NE 78th Ln Ocala, FL	2.0	2.0	985	$1,189	$1.21	14d	1	1.17mi
7818 NE 21st Ave Ocala, FL	2.0	2.0	1120	$1,400	$1.25	14d	1	1.20mi
1001 NE 77th St Unit 25 Ocala, FL	2.0	2.0	952	$1,300	$1.37	14d	1	1.38mi

Listing history 4 events

1. 2026-03-03
   status Pending
2. 2026-02-25
   status Active
3. 2026-02-18
   status Pending
4. 2026-02-12
   listed $150,000 Active

ⓘ 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: $2,663 · $222/mo
• Projected year-2 tax: $2,663 · $222/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,337
• − Mortgage interest: −$8,402
• − Property taxes: −$2,663
• − Insurance: −$750
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$4,364
• Taxable loss: −$3,296
• Est. tax savings @ 24.0%: +$791
• After-tax cash flow: $55/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

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,859

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Black 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 5% Lithuanian 3% Slovene 1%
• Foreign-born: 6% · Canada, Guatemala, Dominican Republic
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1% 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: ▼ -38.14%
• Current HPI: 265.971
• 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

4 events — show timeline

• 2026-03-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $150,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2025): $2,663 · +48.6% YoY. Source: county tax records.