17684 NE 24th Ave · Reddick, FL 32113

$99,900

3 bd · 2.0 ba · 907 sqft · Manufactured public records · 42 Days on market

Built 1988 0.69 ac lot $110/sqft · at area comps Est $96k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +5.8/15.0
• Schools +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in a quiet and convenient area of Citra with easy access to 441 and just a short drive to Ocala, this unique . 69-acre property is packed with opportunity, flexibility, and future potential. With no HOA restrictions and a privacy fence spanning the front of the property featuring two gated entrances, this property offers both privacy and functionality from the moment you arrive. The existing 2-bedroom, 2-bath manufactured home has already been completely gutted, creating the perfect blank slate for an investor, builder, or buyer ready to bring their vision to life and give the property a fresh new beginning. Whether you’re looking to renovate, expand, or create a long-term inv

Key facts

• 0.69 acre lot
• Built 1988
• Listed 42 days

Property features AI

Finance

• Other: Zoning: R4
• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank; Electricity connected; Private utilities; Water connected
• Home design: Manufactured single-wide home; Residential property; One story; Home faces south; Entry level: One
• Construction: Metal siding; Metal roof; Built on pillar/post/pier foundation
• Exterior features: Asphalt road access; Approximately 0.69 acre lot (70 x 216)

Interior

• Bedrooms: 3 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Pillar/Post/Pier foundation
• Laundry & utility: Washer and dryer (appliances included); Outside laundry access / other laundry location

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/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: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 1.7% in Reddick — 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 58/100 on livability (#845 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools D-, 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: 142 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
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: 1.40% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.63%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (median comp): $96,220
• List price: $99,900
• Delta: 3.82%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $11,487
• Equity at exit: $14,895

10-year hold

• IRR: 19.5%
• Equity multiple: 2.63×
• Total profit: $45,665
• Equity at exit: $8,638

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 32113

• Home prices YoY: -5.5%
• Active inventory: 142
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$106 /mo · $1,271/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $434

Break-even live

Break-even rent $850

Max offer price $99,900

Occupancy floor 64%

Sensitivity live

Price	-10% $491	-5% $463	+0% $434	+5% $406	+10% $378
Rent	-10% $324	-5% $379	+0% $434	+5% $490	+10% $545
Rate	-1.0pp $485	-0.5pp $460	base $434	+0.5pp $408	+1.0pp $382

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: —

Listing history 16 events

1. 2026-06-18
   days on market $99,900 Active 42 DOM
2. 2026-06-17
   days on market $99,900 Active 41 DOM
3. 2026-06-16
   days on market $99,900 Active 40 DOM
4. 2026-06-15
   days on market $99,900 Active 39 DOM
5. 2026-06-14
   days on market $99,900 Active 37 DOM
6. 2026-06-13
   days on market $99,900 Active 36 DOM
7. 2026-06-10
   days on market $99,900 Active 34 DOM
8. 2026-06-09
   days on market $99,900 Active 33 DOM
9. 2026-06-08
   days on market $99,900 Active 32 DOM
10. 2026-06-07
    days on market $99,900 Active 31 DOM
11. 2026-06-03
    days on market $99,900 Active 27 DOM
12. 2026-06-02
    days on market $99,900 Active 26 DOM
13. 2026-06-01
    days on market $99,900 Active 25 DOM
14. 2026-05-31
    days on market $99,900 Active 24 DOM
15. 2026-05-30
    days on market $99,900 Active 23 DOM
16. 2026-05-07
    listed $99,900 Active 1777-char remark

ⓘ 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: $1,271 · $106/mo
• Projected year-2 tax: $1,271 · $106/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,797
• − Mortgage interest: −$5,596
• − Property taxes: −$1,271
• − Insurance: −$500
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$2,906
• Taxable income: $3,837
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $4,292/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 — Reddick

• Score: 58/100
• State rank: #845
• US rank: #21164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,382

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 (67%)
• Race & ethnicity: White 67% Black 12% Two or more races 11% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Iranian 3% Serbian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% 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: ▼ -16.68%
• Current HPI: 284.1669
• 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

1 event — show timeline

• 2026-05-07 Listed $99,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $1,271 · +35.1% YoY. Source: county tax records.