110 Water Trak · Silver Springs Shores, FL 34472

$199,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily public records · 11 Days on market

Built 1989 0.26 ac lot Est $220k · 10% under

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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 +15.8/30.0
• ARV discount +11.8/15.0
• Appreciation +8.0/10.0
• DSCR +4.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this well-maintained 3 bedroom, 2 bathroom with 1-car garage in the heart of Silver Springs Shores. PRICED TO SELL and offering a strong value to buyers! Inside the bright living room has an open feel and a split floorplan ensures privacy with great flow between areas. No carpet! Woodgrain vinyl plank flooring and tile throughout keeps cleaning easy. The kitchen has newer stainless steel appliances and the inside laundry room adds more convenience to your daily routine. Extend your living space outdoors onto the large screened patio (28x14) where you can enjoy overlooking the spacious fenced backyard with a workshop shed. Updates include 2021 Roof and newer HVAC system offer

Key facts

• 2021 roof
• Split floorplan
• Workshop shed

Tags

• SPLIT FLOORPLAN
• WOODGRAIN VINYL PLANK FLOORING
• LARGE SCREENED PATIO
• SPACIOUS FENCED BACKYARD
• WORKSHOP SHED
• 2021 ROOF

Property features AI

Finance

• Other: Pets allowed
• Financial info: No lease restrictions; Property is unfurnished
• HOA & community: No homeowners association

Exterior

• Parking: Driveway; Attached garage (1 space)
• Security: Security system
• Utilities: Well water; Septic tank; Cable available; High-speed internet available; Electricity connected
• Home design: Single-family residence; One story; Faces east; Homestead property
• Construction: Block and stucco construction; Shingle roof; Slab foundation; One-level home
• Exterior features: Front porch; Patio (screened); Private mailbox; Sliding doors; Chain link fencing; Shed(s); Trees and landscaping; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Split-bedroom layout; Blinds; Security system
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (16.9% below list).
• Recommended offer: $165k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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, 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.
• Zoned schools: Legacy Elementary School (math 35% / reading 35%, grade F, #1,697 of 2,144 statewide, top 80%, 716 students, 72% FRL); Lake Weir High School (math 23% / reading 34%, grade F, #458 of 667 statewide, top 69%, 1,483 students, 68% FRL).
• Market conditions: Rents flat; 674 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k 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 $56k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $9k; list at $199k implies a 2111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $165,299 (16.9% below list)

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 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?
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: 0.83% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $220,096
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Pine Radl	0.12mi	4/2.0 (+1)	1,242 (+2%)	4mo	$165,000	$133	83
35 Pine Radl	0.17mi	3/2.0	1,091 (-10%)	2mo	$237,000	$217	74
4 Bahia Court Ln	0.36mi	3/2.0	1,337 (+10%)	2mo	$252,000	$188	65
9637 Bahia Dr	0.22mi	3/2.0	1,380 (+14%)	5mo	$248,000	$180	63
5 Water Pass	0.36mi	3/2.0	1,345 (+11%)	10mo	$239,900	$178	57
34 Bahia Court Trak	0.67mi	3/2.0	1,211 (-0%)	17mo	$154,979	$128	54
15 Pine Run Ter	0.57mi	3/2.0	1,272 (+5%)	16mo	$241,000	$189	52
9321 Pine Ln	0.57mi	3/1.0	1,217 (+0%)	22mo	$188,750	$155	51
33 Pine Crse	0.62mi	3/2.0	1,232 (+1%)	22mo	$234,000	$190	51
171 Willow Rd	0.38mi	3/2.0	1,381 (+14%)	23mo	$250,000	$181	41

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

Projected returns pro-forma

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

5-year hold

• IRR: 15.7%
• Equity multiple: 2.04×
• Total profit: $57,891
• Equity at exit: $124,252

10-year hold

• IRR: 14.9%
• Equity multiple: 3.83×
• Total profit: $157,465
• Equity at exit: $224,598

Cash invested: $55,720 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$87 /mo · $1,044/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $92

Break-even live

Break-even rent $1,536

Max offer price $199,000

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Pine Radial Dr Ocala, FL	3.0	2.0	1453	$1,795	$1.24	21d	1	0.17mi
9649 Bahia Rd Ocala, FL	3.0	2.0	1282	$1,595	$1.24	21d	1	0.24mi
5 Cedar Ln Ocala, FL	3.0	2.0	1064	$1,750	$1.64	21d	1	0.36mi
446 Water Rd Ocala, FL	3.0	2.0	1248	$1,425	$1.14	21d	1	0.55mi
455 Water Rd Ocala, FL	3.0	2.0	1275	$1,450	$1.14	13d	1	0.61mi
7 Pine Run Ter Ocala, FL	3.0	2.0	1432	$1,500	$1.05	13d	1	0.62mi
43 Water Track Loop Ocala, FL	3.0	2.0	1287	$1,799	$1.40	13d	1	0.68mi
478 Water Pl Ocala, FL	3.0	2.0	1228	$1,650	$1.34	21d	1	0.75mi
9337 Bahia Rd Ocala, FL	3.0	2.0	1402	$1,765	$1.26	13d	1	0.78mi
60 Bahia Court Trak Ocala, FL	3.0	2.0	1413	$1,695	$1.20	21d	1	0.84mi
12 Spring Loop Ocala, FL	2.0	1.0	900	$1,350	$1.50	13d	1	1.00mi
544 Silver Crse Ocala, FL	2.0	1.0	904	$1,395	$1.54	13d	1	1.06mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	21d	1	1.08mi
54 Pine Trak Unit 104F Ocala, FL	2.0	2.0	832	$1,300	$1.56	21d	1	1.08mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	1.08mi
58 Pine Trak Unit 104D Ocala, FL	2.0	2.0	832	$1,050	$1.26	21d	1	1.12mi
708 Bahia Cir Ocala, FL	3.0	2.0	1352	$1,500	$1.11	21d	1	1.14mi
62 Pine Trak Ocala, FL	2.0	2.0	832	$1,250	$1.50	21d	1	1.14mi
139 Pine Crse Ocala, FL	3.0	2.0	1398	$1,645	$1.18	13d	1	1.18mi
43 Bahia Pass Ocala, FL	3.0	2.0	1188	$1,475	$1.24	21d	1	1.21mi
57 Pine Cir Ocala, FL	3.0	2.0	1270	$1,897	$1.49	13d	1	1.23mi
7184 Hemlock Loop Ocala, FL	3.0	2.0	1392	$1,675	$1.20	21d	1	1.28mi
593 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,200	$1.16	21d	1	1.30mi
549 Fairways Dr Unit A Ocala, FL	2.0	2.0	1072	$1,200	$1.12	21d	1	1.30mi
633 Silver Pass Unit B Ocala, FL	2.0	2.0	1072	$1,500	$1.40	21d	1	1.30mi
532 Bahia Cir Unit A Ocala, FL	2.0	1.5	1027	$1,300	$1.27	21d	1	1.30mi
9 Pine Course Radl Ocala, FL	3.0	2.0	1453	$1,725	$1.19	13d	1	1.32mi
561 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,250	$1.21	21d	1	1.33mi
553 Fairways Cir Unit B Ocala, FL	2.0	2.0	1304	$1,700	$1.30	13d	1	1.35mi
7215 Midway Ter Ocala, FL	2.0	2.0	975	$1,175	$1.21	21d	1	1.37mi
576 Fairways Ln Unit M104 Ocala, FL	2.0	2.0	837	$1,250	$1.49	21d	1	1.37mi
520 Fairways Cir Unit A Ocala, FL	2.0	1.5	1027	$1,100	$1.07	21d	1	1.38mi
548 Fairways Cir Unit C102 Ocala, FL	2.0	2.0	850	$1,400	$1.65	21d	1	1.38mi
510 Fairways Cir Unit A Ocala, FL	2.0	2.0	1000	$1,299	$1.30	21d	1	1.38mi
6 Cedar Dr Ocala, FL	3.0	2.0	1477	$1,675	$1.13	21d	1	1.39mi
567 Midway Trak Unit H201 Ocala, FL	3.0	2.0	1029	$1,350	$1.31	13d	1	1.43mi
582 Fairways Cir Unit A Ocala, FL	2.0	2.0	1304	$1,500	$1.15	21d	1	1.43mi
454 Fairways Cir Unit B203 Ocala, FL	2.0	2.0	850	$1,375	$1.62	21d	1	1.44mi
454 Fairways Cir Unit B204 Ocala, FL	2.0	2.0	837	$1,289	$1.54	21d	1	1.44mi
454 Fairways Cir Ocala, FL	2.0	2.0	837	$1,200	$1.43	21d	1	1.44mi

Listing history 10 events

1. 2026-06-09
   status $199,000 Pending 11 DOM
2. 2026-06-08
   days on market $199,000 Active 11 DOM
3. 2026-06-07
   days on market $199,000 Active 10 DOM
4. 2026-06-03
   days on market $199,000 Active 6 DOM
5. 2026-06-02
   days on market $199,000 Active 5 DOM
6. 2026-06-01
   days on market $199,000 Active 4 DOM
7. 2026-05-31
   days on market $199,000 Active 3 DOM
8. 2026-05-30
   days on market $199,000 Active 2 DOM
9. 2026-05-28
   listed $199,000 Active
10. 1989-04-01
    soldstatus $9,000

ⓘ 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: $1,044 · $87/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$608/yr (+$51/mo · 58.2%)

ⓘ 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 · 21 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: $19,836
• − Mortgage interest: −$11,147
• − Property taxes: −$1,044
• − Insurance: −$995
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$5,789
• Taxable loss: −$2,313
• Est. tax savings @ 24.0%: +$555
• After-tax cash flow: $1,664/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

+2111.1% since first listed

2 events — show timeline

• 2026-05-28 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 1989-04-01 Sold (Public Records) $9,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,044 · +26.2% YoY. Source: county tax records.