604 Midway Dr Unit B · Silver Springs Shores, FL 34472

$99,900

2 bd · 1.5 ba · 1,054 sqft · Condo public records · 107 Days on market

Built 1972 $95/sqft · 7% below area Est $107k · 7% under $300/mo HOA · 21% of rent

---

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 +22.5/30.0
• ARV discount +10.6/15.0
• 1% rule +9.2/10.0
• Appreciation +8.0/10.0
• DSCR +7.2/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

55+ Furnished Condo with Golf Course View – Move-In Ready Beautiful 2-bedroom, 1.5-bath unit located in a desirable 55+ community, offered fully furnished with stylish décor and modern finishes. The kitchen was remodeled approximately two years ago and features quality cabinetry with easy-glide drawers, plus a washer and dryer for added convenience. Enjoy relaxing in the enclosed lanai with additional storage space and peaceful golf course views. Residents have access to the private Live Oak pool and recreation area. Ideally located near shopping, dining, and The Villages, this turnkey home is ready for immediate occupancy. A must-see for those seeking low-maintenance Florida living!

Key facts

• Golf course view
• Remodeled kitchen
• Recreation area

Tags

• GOLF COURSE VIEW
• REMODELED KITCHEN
• ENCLOSED LANAI
• PRIVATE LIVE OAK POOL
• RECREATION AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.7% in Silver Springs Shores — 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 68/100 on livability (#527 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment D, schools 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.
• Market conditions: Rents flat; 674 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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

• In year one you build about $7k of equity ($691 loan paydown + $6k appreciation (5.9% local appreciation)).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.9% appreciation + 0.2% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.42% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 5.9

CMA / ARV

• ARV (median comp): $107,330
• List price: $99,900
• Delta: -6.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

5.93% appreciation · 0.17% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.27×
• Total profit: $35,447
• Equity at exit: $62,376

10-year hold

• IRR: 17.5%
• Equity multiple: 4.19×
• Total profit: $89,225
• Equity at exit: $112,750

Cash invested: $27,972 (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 34472

• Home prices YoY: 2.4%
• Rents YoY: 0.2%
• Active inventory: 674
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$524
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$42
• HOA: −$300
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $169

Break-even live

Break-even rent $1,204

Max offer price $99,900

Occupancy floor 83%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 Midway Dr Unit A Ocala, FL	2.0	1.5	1054	$1,500	$1.42	13d	1	0.03mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	13d	1	0.20mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	21d	1	0.20mi
582 Fairways Cir Unit A Ocala, FL	2.0	2.0	1304	$1,500	$1.15	21d	1	0.26mi
454 Fairways Cir Ocala, FL	2.0	2.0	837	$1,200	$1.43	21d	1	0.32mi
454 Fairways Cir Unit B203 Ocala, FL	2.0	2.0	850	$1,375	$1.62	21d	1	0.33mi
454 Fairways Cir Unit B204 Ocala, FL	2.0	2.0	837	$1,289	$1.54	21d	1	0.33mi
520 Fairways Cir Unit A Ocala, FL	2.0	1.5	1027	$1,100	$1.07	21d	1	0.33mi
548 Fairways Cir Unit C102 Ocala, FL	2.0	2.0	850	$1,400	$1.65	21d	1	0.34mi
510 Fairways Cir Unit A Ocala, FL	2.0	2.0	1000	$1,299	$1.30	21d	1	0.34mi
553 Fairways Cir Unit B Ocala, FL	2.0	2.0	1304	$1,700	$1.30	13d	1	0.34mi
561 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,250	$1.21	21d	1	0.36mi
567 Midway Trak Unit H201 Ocala, FL	3.0	2.0	1029	$1,350	$1.31	13d	1	0.37mi
549 Fairways Dr Unit A Ocala, FL	2.0	2.0	1072	$1,200	$1.12	21d	1	0.39mi
532 Bahia Cir Unit A Ocala, FL	2.0	1.5	1027	$1,300	$1.27	21d	1	0.40mi
576 Fairways Ln Unit M104 Ocala, FL	2.0	2.0	837	$1,250	$1.49	21d	1	0.40mi
593 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,200	$1.16	21d	1	0.41mi
633 Silver Pass Unit B Ocala, FL	2.0	2.0	1072	$1,500	$1.40	21d	1	0.41mi
7817 Midway Drive Ter Unit A103 Ocala, FL	1.0	1.0	729	$1,300	$1.78	21d	1	0.42mi
708 Bahia Cir Ocala, FL	3.0	2.0	1352	$1,500	$1.11	21d	1	0.63mi
544 Silver Crse Ocala, FL	2.0	1.0	904	$1,395	$1.54	13d	1	0.64mi
54 Pine Trak Unit 104F Ocala, FL	2.0	2.0	832	$1,300	$1.56	21d	1	0.93mi
58 Pine Trak Unit 104D Ocala, FL	2.0	2.0	832	$1,050	$1.26	21d	1	0.94mi
62 Pine Trak Ocala, FL	2.0	2.0	832	$1,250	$1.50	21d	1	0.97mi
9337 Bahia Rd Ocala, FL	3.0	2.0	1402	$1,765	$1.26	13d	1	1.07mi
478 Water Pl Ocala, FL	3.0	2.0	1228	$1,650	$1.34	21d	1	1.13mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	1.23mi
455 Water Rd Ocala, FL	3.0	2.0	1275	$1,450	$1.14	13d	1	1.25mi
43 Bahia Pass Ocala, FL	3.0	2.0	1188	$1,475	$1.24	21d	1	1.27mi
446 Water Rd Ocala, FL	3.0	2.0	1248	$1,425	$1.14	21d	1	1.28mi
12 Spring Loop Ocala, FL	2.0	1.0	900	$1,350	$1.50	13d	1	1.38mi
7184 Hemlock Loop Ocala, FL	3.0	2.0	1392	$1,675	$1.20	21d	1	1.42mi
27 Sapphire Run Ocala, FL	3.0	2.0	1255	$1,500	$1.20	21d	1	1.49mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-13
   statusdays on market $99,900 Pending 107 DOM
2. 2026-06-10
   days on market $99,900 Active 106 DOM
3. 2026-06-09
   days on market $99,900 Active 105 DOM
4. 2026-06-08
   days on market $99,900 Active 104 DOM
5. 2026-06-07
   days on market $99,900 Active 103 DOM
6. 2026-06-03
   days on market $99,900 Active 99 DOM
7. 2026-06-02
   days on market $99,900 Active 98 DOM
8. 2026-06-01
   days on market $99,900 Active 97 DOM
9. 2026-05-31
   days on market $99,900 Active 96 DOM
10. 2026-05-30
    days on market $99,900 Active 95 DOM
11. 2026-05-08
    price $99,900 708-char remark

    Show marketing remark (708 chars)

    55+ Furnished Condo with Golf Course View – Move-In Ready Beautiful 2-bedroom, 1.5-bath unit located in a desirable 55+ community, offered fully furnished with stylish décor and modern finishes. The kitchen was remodeled approximately two years ago and features quality cabinetry with easy-glide drawers, plus a washer and dryer for added convenience. Enjoy relaxing in the enclosed lanai with additional storage space and peaceful golf course views. Residents have access to the private Live Oak pool and recreation area. Ideally located near shopping, dining, and The Villages, this turnkey home is ready for immediate occupancy. A must-see for those seeking low-maintenance Florida living!

12. 2026-03-19
    price $110,000 708-char remark

    Show marketing remark (708 chars)

    55+ Furnished Condo with Golf Course View – Move-In Ready Beautiful 2-bedroom, 1.5-bath unit located in a desirable 55+ community, offered fully furnished with stylish décor and modern finishes. The kitchen was remodeled approximately two years ago and features quality cabinetry with easy-glide drawers, plus a washer and dryer for added convenience. Enjoy relaxing in the enclosed lanai with additional storage space and peaceful golf course views. Residents have access to the private Live Oak pool and recreation area. Ideally located near shopping, dining, and The Villages, this turnkey home is ready for immediate occupancy. A must-see for those seeking low-maintenance Florida living!

13. 2026-02-24
    listed $120,000 Active 708-char remark

    Show marketing remark (708 chars)

    55+ Furnished Condo with Golf Course View – Move-In Ready Beautiful 2-bedroom, 1.5-bath unit located in a desirable 55+ community, offered fully furnished with stylish décor and modern finishes. The kitchen was remodeled approximately two years ago and features quality cabinetry with easy-glide drawers, plus a washer and dryer for added convenience. Enjoy relaxing in the enclosed lanai with additional storage space and peaceful golf course views. Residents have access to the private Live Oak pool and recreation area. Ideally located near shopping, dining, and The Villages, this turnkey home is ready for immediate occupancy. A must-see for those seeking low-maintenance Florida living!

14. 2021-05-07
    soldstatus $77,000 Closed 363-char remark

    Show marketing remark (363 chars)

    55+ Community. 2/1.5. Great unit! Furnished with stylish furniture and colors. Kitchen remodeled approximately two years ago, check out the great cabinets easy glide drawers, washer and dryer. Enclosed lanai with storage room, golf course view and private Live Oak pool/recreation area. Convenient to shopping, The Villages and more! Ready to move in. A must see!

15. 2021-03-30
    status Pending 363-char remark

    Show marketing remark (363 chars)

    55+ Community. 2/1.5. Great unit! Furnished with stylish furniture and colors. Kitchen remodeled approximately two years ago, check out the great cabinets easy glide drawers, washer and dryer. Enclosed lanai with storage room, golf course view and private Live Oak pool/recreation area. Convenient to shopping, The Villages and more! Ready to move in. A must see!

16. 2021-03-18
    listed $76,000 Active 363-char remark

    Show marketing remark (363 chars)

    55+ Community. 2/1.5. Great unit! Furnished with stylish furniture and colors. Kitchen remodeled approximately two years ago, check out the great cabinets easy glide drawers, washer and dryer. Enclosed lanai with storage room, golf course view and private Live Oak pool/recreation area. Convenient to shopping, The Villages and more! Ready to move in. A must see!

17. 2008-02-19
    soldstatus $52,000
18. 2008-02-15
    soldstatus $52,000
19. 2007-06-28
    listed $52,000
20. 1974-12-01
    soldstatus $30,145

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,023 · $85/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 7 d/yr ≥108°F today · 22 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: $17,005
• − Mortgage interest: −$5,596
• − Property taxes: −$1,023
• − Insurance: −$500
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − HOA: −$3,600
• − Depreciation: −$2,906
• Taxable income: $659
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $1,866/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

• Score: 68/100
• State rank: #527
• US rank: #9854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Springs Shores, FL
• County: Marion County · 315,796 people
• City population: 34,665
• Metro: Ocala, FL
• Population (ZIP): 35,851
• Household income: $64,208
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 655.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 25% Black 21% Two or more races 18% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14% Cuban 3%
• Common ancestry: Romanian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 19% 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: ▲ 5.93%
• Current HPI: 255.0714
• Rent YoY: ▲ 0.17%
• 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

+231.4% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-24 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2021-05-07 Sold (MLS) $77,000 Stellar MLS as Distributed by MLS Grid
• 2021-03-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-18 Listed $76,000 Stellar MLS as Distributed by MLS Grid
• 2008-02-19 Sold (Public Records) $52,000 Public Records
• 2008-02-15 Sold (MLS) $52,000 Stellar MLS as Distributed by MLS Grid
• 2007-06-28 Listed $52,000 Stellar MLS as Distributed by MLS Grid
• 1974-12-01 Sold (Public Records) $30,145 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,023 · +26.6% YoY. Source: county tax records.