9690 SE 38th Ct · Belleview, FL 34420

$5,000

3 bd · 2.0 ba · 1,429 sqft · Manufactured public records · 2 Days on market

Built 1980

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A great country get-away right in the heart of Belleview! A-1 Ag. close to shopping/schools/hospitals. Cedar walls throughout the interior with an open, rural feel. The kitchen is beautifully crafted with cedar cabinets. This home boasts a very spacious master with an attached master bath. This home is functional and passed an inspection just last year- all it needs is a personal touch! If you have hobbies or need a good outdoor area, you'll love the 2-car detached garage! This giant garage has two rooms on the inside (Bedrooms) and a large patio out back. It can easily be converted into an in-law suite or the workshop of your dreams! Relax under the oversized, covered porch and relish under the sound of raindrops on your metal roof. A fenced yard with partial landscaping completes this dream and still leaves room for you to make it your own! Call today for a private tour of this stunning home in the desirable Belleview, Florida! Seller requests buyer to pay all closing costs except the real estate commission.

Key facts

• 2 garage spots
• Built 1980

Property features AI

Exterior

• Parking: Attached or detached 2-car garage
• Home design: Manufactured home; Residential property
• Exterior features: Approximately 1.03-acre lot; Zoned A 1

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Single-story layout

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$197,202) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $5k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 282.8% 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: schools D, crime F, amenities 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: 357 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $35 of loan paydown is wiped out by about $150 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 + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y ago 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; moderate 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 $5,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 30.04% ✓
• Cap rate: 282.82%
• Cash-on-cash: 987.61%
• DSCR: 44.94
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $197,202
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3376 SE 93rd Pl	0.50mi	3/2.0	1,296 (-9%)	8mo	$179,000	$138	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 52.86×
• Total profit: $72,598
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 113.72×
• Total profit: $157,804
• Equity at exit: $432

Cash invested: $1,400 (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 34420

• Home prices YoY: -32.8%
• Active inventory: 357
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,502 medium
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $1,152

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

Sensitivity live

Price	-10% $1,156	-5% $1,154	+0% $1,152	+5% $1,150	+10% $1,149
Rent	-10% $1,034	-5% $1,093	+0% $1,152	+5% $1,212	+10% $1,271
Rate	-1.0pp $1,155	-0.5pp $1,153	base $1,152	+0.5pp $1,151	+1.0pp $1,150

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5151 SE 103rd Ln Unit 51514 Belleview, FL	2.0	2.5	1008	$1,395	$1.38	21d	1	1.37mi
5151 SE 103rd Ln Unit 51513 Belleview, FL	2.0	2.5	1008	$1,450	$1.44	14d	1	1.37mi
10386 SE 52nd Ct Unit 11 Belleview, FL	3.0	2.0	1207	$1,395	$1.16	14d	1	1.38mi
18 Juniper Trl Ocala, FL	3.0	2.0	1270	$1,750	$1.38	14d	1	1.49mi

Listing history 11 events

1. 2026-05-25
   listed $5,000 Active
2. 2020-07-07
   soldstatus $99,000
3. 2020-07-02
   soldstatus $99,000 1025-char remark

   Show marketing remark (1025 chars)

   A great country get-away right in the heart of Belleview! A-1 Ag. close to shopping/schools/hospitals. Cedar walls throughout the interior with an open, rural feel. The kitchen is beautifully crafted with cedar cabinets. This home boasts a very spacious master with an attached master bath. This home is functional and passed an inspection just last year- all it needs is a personal touch! If you have hobbies or need a good outdoor area, you'll love the 2-car detached garage! This giant garage has two rooms on the inside (Bedrooms) and a large patio out back. It can easily be converted into an in-law suite or the workshop of your dreams! Relax under the oversized, covered porch and relish under the sound of raindrops on your metal roof. A fenced yard with partial landscaping completes this dream and still leaves room for you to make it your own! Call today for a private tour of this stunning home in the desirable Belleview, Florida! Seller requests buyer to pay all closing costs except the real estate commission.

4. 2020-04-17
   listed $130,000 1025-char remark

   Show marketing remark (1025 chars)

   A great country get-away right in the heart of Belleview! A-1 Ag. close to shopping/schools/hospitals. Cedar walls throughout the interior with an open, rural feel. The kitchen is beautifully crafted with cedar cabinets. This home boasts a very spacious master with an attached master bath. This home is functional and passed an inspection just last year- all it needs is a personal touch! If you have hobbies or need a good outdoor area, you'll love the 2-car detached garage! This giant garage has two rooms on the inside (Bedrooms) and a large patio out back. It can easily be converted into an in-law suite or the workshop of your dreams! Relax under the oversized, covered porch and relish under the sound of raindrops on your metal roof. A fenced yard with partial landscaping completes this dream and still leaves room for you to make it your own! Call today for a private tour of this stunning home in the desirable Belleview, Florida! Seller requests buyer to pay all closing costs except the real estate commission.

5. 2018-03-08
   soldstatus $75,000
6. 2018-03-06
   soldstatus $74,900 224-char remark

   Show marketing remark (224 chars)

   This beautiful 2/2 remodeled country style home. Sits on 1.03 acres with a completely fenced in yard. Detached 2 cargarage, and above-ground pool. This home also comes with a green house. Close to 441, schools, and shopping.

7. 2017-10-24
   listed $74,900 224-char remark

   Show marketing remark (224 chars)

   This beautiful 2/2 remodeled country style home. Sits on 1.03 acres with a completely fenced in yard. Detached 2 cargarage, and above-ground pool. This home also comes with a green house. Close to 441, schools, and shopping.

8. 2006-01-06
   soldstatus $87,500
9. 2006-01-05
   soldstatus $87,500
10. 2005-10-02
    listed $95,000
11. 1995-02-16
    soldstatus $36,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,027
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$145
• Taxable income: $14,617
• Est. tax owed @ 24.0%: −$3,508
• After-tax cash flow: $10,318/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

• City population: 19,167
• Population (ZIP): 19,167

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 10% Black 1%
• Hispanic origin (detail): Puerto Rican 7% Cuban 2%
• Common ancestry: Lithuanian 4% Iranian 2% Romanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 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: ▼ -120.90%
• Current HPI: 247.3176
• 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

-86.3% since first listed

11 events — show timeline

• 2026-05-25 Listed $5,000 NFMLS
• 2020-07-07 Sold (Public Records) $99,000 Public Records
• 2020-07-02 Sold (MLS) $99,000 Stellar MLS as Distributed by MLS Grid
• 2020-04-17 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2018-03-08 Sold (Public Records) $75,000 Public Records
• 2018-03-06 Sold (MLS) $74,900 Stellar MLS as Distributed by MLS Grid
• 2017-10-24 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2006-01-06 Sold (Public Records) $87,500 Public Records
• 2006-01-05 Sold (MLS) $87,500 Stellar MLS as Distributed by MLS Grid
• 2005-10-02 Listed $95,000 Stellar MLS as Distributed by MLS Grid
• 1995-02-16 Sold (Public Records) $36,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $939 · +29.7% YoY. Source: county tax records.