11184 SW 108th St · On Top of the World, FL 34432

$100,000

2 bd · 2.0 ba · 728 sqft · Manufactured public records · 2 Days on market

Built 2000 9,148 sqft lot

---

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 +21.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.7/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A MUST SEE! LIKE NEW HOME IS LIGHT, BRIGHT, OPEN SPACIOUS FOR SQUARE FEET. GREAT PAVED DRIVE PARKING UNDER NEW CARPORT. WELL BUILT STEPS ON BACK DECK ON FRONT. SEPARATE STORAGE SHED HOUSES WELL PUMP PLUS EXTRA STORAGE AREA.

Key facts

• Attached carport
• 9,148 sq ft lot
• Parking

Tags

• HALF BATH IN PRIMARY BEDROOM
• BAR SEATING IN KITCHEN
• PICTURE WINDOW OVER SINK
• COMBINATION BATHTUB SHOWER
• WASHER AND DRYER HOOKUP
• ATTACHED CARPORT

Property features AI

Finance

• Other: Zoning: R4; Lot approximately 0.21 acre (public maintained asphalt road); Living area reported as 728 sq ft; building area reported as 1,032 sq ft
• HOA & community: No HOA/association

Exterior

• Parking: Covered parking; Driveway; 1-car carport
• Utilities: Well water; Septic tank; Cable connected; Electricity connected
• Home design: Manufactured home (single wide); Fixer condition; One level; Faces southwest
• Construction: Frame construction; Shingle roof; Crawlspace foundation; Built as single wide manufactured home
• Exterior features: Chain link fencing; Paved lot; Shed(s)

Interior

• Kitchen: Range; Refrigerator; Exhaust fan
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric heating; Mini-split cooling
• Interior features: Kitchen/Family room combo; Open floorplan
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.0% vs local median 2.9% in On Top of the World — 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 C — 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: 550 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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.
• Current owner paid $86k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 6.9

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-7,095
• Equity at exit: $14,910

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $5,799
• Equity at exit: $8,646

Cash invested: $28,000 (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 34432

• Home prices YoY: -21.5%
• Active inventory: 550
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$240 /mo · $2,883/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $142

Break-even live

Break-even rent $1,021

Max offer price $100,000

Occupancy floor 83%

Sensitivity live

Price	-10% $198	-5% $170	+0% $142	+5% $113	+10% $85
Rent	-10% $47	-5% $94	+0% $142	+5% $189	+10% $236
Rate	-1.0pp $192	-0.5pp $167	base $142	+0.5pp $116	+1.0pp $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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9941 SW 102nd Ln Ocala, FL	2.0	1.0	672	$1,200	$1.79	21d	1	1.36mi

Listing history 3 events

1. 2026-06-18
   days on market $100,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $100,000 Active 1 DOM

ⓘ 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: $2,883 · $240/mo
• Projected year-2 tax: $2,883 · $240/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$5,602
• − Property taxes: −$2,883
• − Insurance: −$500
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,909
• Taxable income: $202
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $1,651/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 — On Top of the World

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

Census & demographics

• City population: 25,668
• Population (ZIP): 13,197

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 16% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 9% 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: ▼ -57.34%
• Current HPI: 209.595
• 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

+141.0% since first listed

6 events — show timeline

• 2026-06-16 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-05 Sold (Public Records) $86,000 Public Records
• 2022-01-19 Sold (Public Records) $50,000 Public Records
• 2004-03-16 Sold (Public Records) $41,500 Public Records
• 2004-03-15 Sold (MLS) $41,500 Stellar MLS as Distributed by MLS Grid
• 2003-12-16 Listed $41,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+24.1%/yr

Latest (2025): $2,883 · +8.2% YoY. Source: county tax records.