515 Fairways Ln Unit B · Silver Springs Shores, FL 34472

$85,000

2 bd · 1.0 ba · 1,113 sqft · Condo public records · 140 Days on market

Built 1982 $317/mo HOA · 23% of rent

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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 +18.6/30.0
• 1% rule +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 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

Spotless 2nd flr 2/2 condo with newer flooring, neutral colors ready to move in and make it your own. Overlooks park like yard from balcony. Indoor laundry room and plenty of storage. Perfect for downsizing or snowbirds.

Key facts

• Spacious balcony
• Community amenities
• Pool view

Tags

• POOL VIEW
• SPACIOUS BALCONY
• FULL SIZED LAUNDRY ROOM
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $82 ($984/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $6k of equity ($588 loan paydown + $5k 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $30k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $85k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; HOA is 23% 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.65% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.13%
• DSCR: 1.18
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 2.09×
• Total profit: $25,832
• Equity at exit: $53,073

10-year hold

• IRR: 14.9%
• Equity multiple: 3.75×
• Total profit: $65,546
• Equity at exit: $95,934

Cash invested: $23,800 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,402 high
• Mortgage (P&I): −$446
• Tax from tax record: −$227 /mo · $2,729/yr
• Insurance: −$35
• HOA: −$317
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $82

Break-even live

Break-even rent $1,298

Max offer price $85,000

Occupancy floor 89%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Bahia Cir Unit A Ocala, FL	2.0	1.5	1027	$1,300	$1.27	21d	1	0.06mi
510 Fairways Cir Unit A Ocala, FL	2.0	2.0	1000	$1,299	$1.30	21d	1	0.08mi
548 Fairways Cir Unit C102 Ocala, FL	2.0	2.0	850	$1,400	$1.65	21d	1	0.08mi
576 Fairways Ln Unit M104 Ocala, FL	2.0	2.0	837	$1,250	$1.49	21d	1	0.09mi
520 Fairways Cir Unit A Ocala, FL	2.0	1.5	1027	$1,100	$1.07	21d	1	0.10mi
454 Fairways Cir Unit B204 Ocala, FL	2.0	2.0	837	$1,289	$1.54	21d	1	0.13mi
454 Fairways Cir Unit B203 Ocala, FL	2.0	2.0	850	$1,375	$1.62	21d	1	0.13mi
454 Fairways Cir Ocala, FL	2.0	2.0	837	$1,200	$1.43	21d	1	0.13mi
567 Midway Trak Unit H201 Ocala, FL	3.0	2.0	1029	$1,350	$1.31	14d	1	0.14mi
549 Fairways Dr Unit A Ocala, FL	2.0	2.0	1072	$1,200	$1.12	21d	1	0.15mi
553 Fairways Cir Unit B Ocala, FL	2.0	2.0	1304	$1,700	$1.30	14d	1	0.15mi
561 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,250	$1.21	21d	1	0.18mi
582 Fairways Cir Unit A Ocala, FL	2.0	2.0	1304	$1,500	$1.15	21d	1	0.24mi
544 Silver Crse Ocala, FL	2.0	1.0	904	$1,395	$1.54	14d	1	0.25mi
593 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,200	$1.16	21d	1	0.26mi
633 Silver Pass Unit B Ocala, FL	2.0	2.0	1072	$1,500	$1.40	21d	1	0.28mi
608 Midway Dr Unit A Ocala, FL	2.0	1.5	1054	$1,500	$1.42	14d	1	0.42mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	14d	1	0.44mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	21d	1	0.44mi
708 Bahia Cir Ocala, FL	3.0	2.0	1352	$1,500	$1.11	21d	1	0.45mi
7817 Midway Drive Ter Unit A103 Ocala, FL	1.0	1.0	729	$1,300	$1.78	21d	1	0.66mi
54 Pine Trak Unit 104F Ocala, FL	2.0	2.0	832	$1,300	$1.56	21d	1	0.78mi
9337 Bahia Rd Ocala, FL	3.0	2.0	1402	$1,765	$1.26	14d	1	0.81mi
58 Pine Trak Unit 104D Ocala, FL	2.0	2.0	832	$1,050	$1.26	21d	1	0.82mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	0.84mi
62 Pine Trak Ocala, FL	2.0	2.0	832	$1,250	$1.50	21d	1	0.86mi
478 Water Pl Ocala, FL	3.0	2.0	1228	$1,650	$1.34	21d	1	0.87mi
43 Bahia Pass Ocala, FL	3.0	2.0	1188	$1,475	$1.24	21d	1	0.90mi
455 Water Rd Ocala, FL	3.0	2.0	1275	$1,450	$1.14	14d	1	0.96mi
446 Water Rd Ocala, FL	3.0	2.0	1248	$1,425	$1.14	21d	1	0.97mi
7184 Hemlock Loop Ocala, FL	3.0	2.0	1392	$1,675	$1.20	21d	1	1.06mi
13 Pine Radial Dr Ocala, FL	3.0	2.0	1453	$1,795	$1.24	21d	1	1.19mi
5 Cedar Ln Ocala, FL	3.0	2.0	1064	$1,750	$1.64	21d	1	1.20mi
12 Spring Loop Ocala, FL	2.0	1.0	900	$1,350	$1.50	14d	1	1.21mi
308 Hickory Course Radl Ocala, FL	3.0	2.0	1397	$1,650	$1.18	21d	1	1.23mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	21d	1	1.24mi
60 Bahia Court Trak Ocala, FL	3.0	2.0	1413	$1,695	$1.20	21d	1	1.38mi

HOA detail condo

• Monthly dues: $317 · $3,804/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-22
   status Pending
2. 2026-04-12
   price $85,000
3. 2026-02-11
   price $105,000
4. 2025-12-03
   listed $115,000 Active
5. 2016-11-29
   soldstatus $42,000
6. 2016-11-21
   soldstatus $42,000 220-char remark

   Show marketing remark (220 chars)

   Spotless 2nd flr 2/2 condo with newer flooring, neutral colors ready to move in and make it your own. Overlooks park like yard from balcony. Indoor laundry room and plenty of storage. Perfect for downsizing or snowbirds.

7. 2016-09-16
   listed $49,500 220-char remark

   Show marketing remark (220 chars)

   Spotless 2nd flr 2/2 condo with newer flooring, neutral colors ready to move in and make it your own. Overlooks park like yard from balcony. Indoor laundry room and plenty of storage. Perfect for downsizing or snowbirds.

8. 2011-04-01
   historical
9. 2008-10-20
   listed $48,500
10. 1986-08-01
    soldstatus $41,500
11. 1983-04-01
    soldstatus $53,000

ⓘ 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: $2,729 · $227/mo
• Projected year-2 tax: $2,729 · $227/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: $16,824
• − Mortgage interest: −$4,761
• − Property taxes: −$2,729
• − Insurance: −$425
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − HOA: −$3,804
• − Depreciation: −$2,473
• Taxable loss: −$60
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $998/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

+60.4% since first listed

11 events — show timeline

• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-03 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2016-11-29 Sold (Public Records) $42,000 Public Records
• 2016-11-21 Sold (MLS) $42,000 Stellar MLS as Distributed by MLS Grid
• 2016-09-16 Listed $49,500 Stellar MLS as Distributed by MLS Grid
• 2011-04-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-10-20 Listed $48,500 Stellar MLS as Distributed by MLS Grid
• 1986-08-01 Sold (Public Records) $41,500 Public Records
• 1983-04-01 Sold (Public Records) $53,000 Public Records

Property tax history

+21.0%/yr

Latest (2025): $2,729 · +10.9% YoY. Source: county tax records.