6945 NE 5th Pl · Silver Springs, FL 34470

$66,000

3 bd · 2.0 ba · 1,624 sqft · Manufactured public records · 8 Days on market

Built 1973 0.34 ac lot Est $84k · 22% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this 3-bedroom, 2-bath manufactured home situated on a spacious 0.34-acre lot in the Ocala Heights area. Offering a great opportunity for homeowners or investors alike, the property provides ample space for outdoor living, expansion, or customization to fit your needs. The home requires updates and repairs, for a renovation or value-add repositioning. With a larger-than-average footprint for a manufactured home, there is strong potential to maximize returns. Conveniently located near shopping, dining, and major roadways, the property also is close proximity to popular outdoor destinations such as Silver Springs State Park and Rainbow River. Travel is made easy with access to Gain

Key facts

• Access to airports
• Spacious lot
• Outdoor living

Tags

• SPACIOUS LOT
• OUTDOOR LIVING
• ACCESS TO AIRPORTS

Property features AI

Finance

• Other: Lot is approximately 0.34 acre (about 1/4 to less than 1/2 acre); Paved road access; Property is completed and zoned R4; Unfurnished
• HOA & community: Pets allowed; No condo or association fees

Exterior

• Utilities: Public water; Septic tank; Electricity connected
• Home design: Residential single wide mobile home; One level; East-facing entry
• Construction: Vinyl siding; Other roof; Pillar/post/pier foundation
• Exterior features: Rain gutters; Outdoor storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Window treatments; Living room fireplace
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $66k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• Cap rate 22.6% vs local median 4.2% in Silver Springs — 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 B — 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: Rents soft (-0.1%/yr); 294 active listings in the ZIP; 9 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).
• This rent runs 41% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.66% ✓
• Cap rate: 22.62%
• Cash-on-cash: 58.31%
• DSCR: 3.59
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $84,448
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6945 NE 5th Pl	0.00mi	3/2.0	1,624 (0%)	1mo	$85,000	$52	99

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 48.5%
• Equity multiple: 3.01×
• Total profit: $37,205
• Equity at exit: $9,841

10-year hold

• IRR: 52.7%
• Equity multiple: 5.39×
• Total profit: $81,046
• Equity at exit: $5,706

Cash invested: $18,480 (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 34470

• Home prices YoY: -27.6%
• Rents YoY: -0.1%
• Active inventory: 294
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,758 high
• Mortgage (P&I): −$346
• Tax from tax record: −$117 /mo · $1,406/yr
• Insurance: −$28
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $832

Break-even live

Break-even rent $705

Max offer price $66,000

Occupancy floor 48%

Sensitivity live

Price	-10% $869	-5% $850	+0% $832	+5% $813	+10% $794
Rent	-10% $693	-5% $762	+0% $832	+5% $901	+10% $970
Rate	-1.0pp $865	-0.5pp $848	base $832	+0.5pp $814	+1.0pp $797

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6859 NE 1st Pl Ocala, FL	3.0	2.0	1250	$1,400	$1.12	21d	1	0.29mi
6772 NE 1st St Unit Na Ocala, FL	3.0	2.0	1300	$1,500	$1.15	14d	1	0.41mi
100 SE 68th Ct Ocala, FL	3.0	2.0	1612	$1,850	$1.15	21d	1	0.45mi
15 NE 63rd Ct Ocala, FL	3.0	2.0	1500	$1,700	$1.13	21d	1	0.64mi
436 NE 61st Ter Ocala, FL	3.0	2.0	2170	$2,600	$1.20	21d	1	0.67mi
6001 SE 4th Pl Ocala, FL	3.0	2.0	1865	$2,295	$1.23	14d	1	1.03mi
5725 SE 3rd Pl Ocala, FL	3.0	2.0	1608	$1,550	$0.96	21d	1	1.11mi
5610 NE 7th St Ocala, FL	3.0	2.0	1900	$1,800	$0.95	14d	1	1.11mi
1503 Peachtree Ln Ocala, FL	2.0	2.0	1152	$1,450	$1.26	21d	1	1.35mi

Listing history 6 events

1. 2026-05-15
   status Pending
2. 2026-05-07
   listed $66,000 Active
3. 2004-05-31
   historical
4. 2004-01-14
   historical
5. 2003-07-18
   listed $43,500
6. 2003-05-16
   listed $38,000

ⓘ 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: $1,406 · $117/mo
• Projected year-2 tax: $1,406 · $117/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,096
• − Mortgage interest: −$3,697
• − Property taxes: −$1,406
• − Insurance: −$1,128
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$1,920
• Taxable income: $9,570
• Est. tax owed @ 24.0%: −$2,297
• After-tax cash flow: $7,682/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

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

Census & demographics

• County: Marion County · 315,796 people
• Metro: Ocala, FL
• Population (ZIP): 22,443
• Household income: $52,083
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 771.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 12% Hispanic / Latino 12% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 1%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica, Vietnam
• Languages at home: 89% English-only · Spanish 9%

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: ▼ -92.74%
• Current HPI: 242.686
• Rent YoY: ▼ -0.07%
• 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

+73.7% since first listed

6 events — show timeline

• 2026-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Listed $66,000 Stellar MLS as Distributed by MLS Grid
• 2004-05-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-01-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2003-07-18 Listed $43,500 Stellar MLS as Distributed by MLS Grid
• 2003-05-16 Listed $38,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $1,406 · +21.2% YoY. Source: county tax records.