2 Pine Pass Dr · Silver Springs Shores, FL 34472

$194,000

3 bd · 2.0 ba · 1,184 sqft · SingleFamily public records · 174 Days on market

Built 1988 0.27 ac lot $164/sqft · 19% below area Est $239k · 19% 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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Appreciation +8.0/10.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

Key facts

• Split floor plan
• Updated kitchen
• New ac

Tags

• SPLIT FLOOR PLAN
• TILE LAMINATE FLOORING
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW AC
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $-37 ($-449/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (10.5% below list).
• Recommended offer: $171k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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, schools 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: Rents flat; 674 active listings in the ZIP; 30 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).

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 $54k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $51k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $194k implies a 62% gain — meaningful room to come down on a strong offer.

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 $170,720 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $238,780
• List price: $194,000
• Delta: -18.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Pine Circle Run	0.22mi	3/2.0	1,169 (-1%)	7mo	$150,000	$128	81
12 Pine Trace Ter	0.37mi	3/2.0	1,254 (+6%)	3mo	$250,000	$199	71
8 Dogwood Circle Pass	0.25mi	3/2.0	1,284 (+8%)	6mo	$250,000	$195	69
17 Dogwood Drive Ct	0.53mi	3/2.0	1,091 (-8%)	3mo	$237,000	$217	60
36 Pine Trace Loop	0.24mi	3/2.0	1,315 (+11%)	15mo	$259,900	$198	58
48 Pine Trace Loop	0.28mi	3/2.0	1,052 (-11%)	15mo	$194,000	$184	56
97 Dogwood Cir	0.25mi	3/2.0	1,014 (-14%)	12mo	$228,000	$225	54
25 Cedar Trce	0.54mi	3/2.0	1,052 (-11%)	4mo	$143,000	$136	53
6 Dogwood Drive Trl	0.56mi	3/2.0	1,315 (+11%)	3mo	$249,900	$190	53
18 Cedar Tree Ter	0.39mi	3/1.0	1,008 (-15%)	8mo	$159,000	$158	47
21 Pine Trace Run	0.54mi	2/1.0 (-1)	1,119 (-6%)	12mo	$155,000	$139	47
20 Water Trak	0.70mi	2/2.0 (-1)	1,040 (-12%)	8mo	$190,000	$183	35

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: 13.3%
• Equity multiple: 1.89×
• Total profit: $48,111
• Equity at exit: $121,130

10-year hold

• IRR: 13.0%
• Equity multiple: 3.49×
• Total profit: $135,028
• Equity at exit: $218,955

Cash invested: $54,320 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,737 high
• Mortgage (P&I): −$1,017
• Tax from tax record: −$245 /mo · $2,942/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-37

Break-even live

Break-even rent $1,785

Max offer price $187,391

Occupancy floor 97%

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
57 Pine Cir Ocala, FL	3.0	2.0	1270	$1,897	$1.49	13d	1	0.07mi
6 Cedar Dr Ocala, FL	3.0	2.0	1477	$1,675	$1.13	21d	1	0.10mi
9 Pine Course Radl Ocala, FL	3.0	2.0	1453	$1,725	$1.19	13d	1	0.50mi
98 Dogwood Drive Cir Ocala, FL	3.0	2.0	1337	$1,695	$1.27	21d	1	0.51mi
139 Pine Crse Ocala, FL	3.0	2.0	1398	$1,645	$1.18	13d	1	0.61mi
7215 Midway Ter Ocala, FL	2.0	2.0	975	$1,175	$1.21	21d	1	0.61mi
7 Pine Run Ter Ocala, FL	3.0	2.0	1432	$1,500	$1.05	13d	1	0.68mi
21 Dogwood Drive Pass Ocala, FL	3.0	2.0	1390	$1,595	$1.15	21d	1	0.74mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	21d	1	0.79mi
7044 Hemlock Crse Ocala, FL	3.0	2.0	1270	$1,897	$1.49	13d	1	0.86mi
43 Water Track Loop Ocala, FL	3.0	2.0	1287	$1,799	$1.40	13d	1	0.86mi
9 Dogwood Trail Dr Ocala, FL	3.0	2.0	1110	$1,595	$1.44	21d	1	0.94mi
54 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	21d	1	1.00mi
58 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	21d	1	1.02mi
5 Cedar Ln Ocala, FL	3.0	2.0	1064	$1,750	$1.64	21d	1	1.02mi
66 Laurel Pass Ocala, FL	2.0	2.0	974	$1,175	$1.21	21d	1	1.03mi
7184 Hemlock Loop Ocala, FL	3.0	2.0	1392	$1,675	$1.20	21d	1	1.10mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	1.19mi
43 Bahia Pass Ocala, FL	3.0	2.0	1188	$1,475	$1.24	21d	1	1.20mi
13 Pine Radial Dr Ocala, FL	3.0	2.0	1453	$1,795	$1.24	21d	1	1.20mi
11 Aspen Dr Ocala, FL	3.0	2.0	1357	$1,725	$1.27	21d	1	1.23mi
23 Aspen Dr Ocala, FL	3.0	2.0	1399	$1,650	$1.18	21d	1	1.26mi
492 Hickory Course Loop Ocala, FL	4.0	2.0	1483	$1,750	$1.18	21d	1	1.30mi
9649 Bahia Rd Ocala, FL	3.0	2.0	1282	$1,595	$1.24	21d	1	1.33mi
28 Poplar Run Ocala, FL	3.0	2.0	1473	$1,650	$1.12	13d	1	1.39mi
308 Hickory Course Radl Ocala, FL	3.0	2.0	1397	$1,650	$1.18	21d	1	1.40mi
60 Walnut Rd Ocala, FL	2.0	2.0	969	$1,200	$1.24	21d	1	1.42mi
52 Walnut Rd Ocala, FL	2.0	2.0	969	$1,175	$1.21	13d	1	1.43mi
31 Walnut Run Ocala, FL	2.0	2.0	974	$1,200	$1.23	13d	1	1.45mi
47 Walnut Run Ocala, FL	2.0	2.0	974	$1,235	$1.27	13d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $194,000 Active 174 DOM
2. 2026-06-17
   days on market $194,000 Active 173 DOM
3. 2026-06-16
   days on market $194,000 Active 172 DOM
4. 2026-06-15
   days on market $194,000 Active 171 DOM
5. 2026-06-14
   days on market $194,000 Active 169 DOM
6. 2026-06-13
   days on market $194,000 Active 168 DOM
7. 2026-06-10
   days on market $194,000 Active 166 DOM
8. 2026-06-09
   days on market $194,000 Active 165 DOM
9. 2026-06-08
   days on market $194,000 Active 164 DOM
10. 2026-06-07
    statusdays on market $194,000 Active 163 DOM
11. 2026-05-08
    price $194,000 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

12. 2026-04-10
    price $204,000 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

13. 2026-03-14
    price $214,000 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

14. 2026-02-13
    price $224,000 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

15. 2026-01-10
    price $234,900 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

16. 2025-12-14
    listed $244,900 Active 636-char remark

    Show marketing remark (636 chars)

    MOVE-IN READY 3-BEDROOM, 2-BATH GEM ready for a new owner to cherish! This recently updated home boasts an array of high-value features. Enjoy the popular split floor plan and tile laminate flooring throughout for seamless living. The heart of the home is an updated kitchen featuring sleek stainless steel appliances. Major updates ensure peace of mind: New AC and windows in 2022, a roof replacement in 2013, and an updated electrical panel in 2013. Both bathrooms have also been updated. The highlight is the expansive backyard, a blank canvas perfect for creating the pool and outdoor oasis of your dreams! Call today for your tour!

17. 2025-09-29
    historical
18. 2025-07-18
    price $235,000
19. 2025-07-13
    listed $225,000 Active
20. 2022-11-18
    historical
21. 2022-10-31
    price $280,000
22. 2022-10-21
    listed $285,000 Active
23. 2022-10-05
    soldstatus $120,000 Closed
24. 2022-07-25
    status Pending
25. 2022-07-25
    listed $120,000 Active
26. 2020-11-25
    historical
27. 2020-11-20
    listed $120,000
28. 1988-05-01
    soldstatus $14,000

ⓘ 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: $2,942 · $245/mo
• Projected year-2 tax: $2,942 · $245/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,847
• − Mortgage interest: −$10,867
• − Property taxes: −$2,942
• − Insurance: −$1,768
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$5,644
• Taxable loss: −$3,709
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $441/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

+1285.7% since first listed

18 events — show timeline

• 2026-05-08 Price Changed $194,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $204,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Price Changed $214,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $224,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-10 Price Changed $234,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-14 Listed $244,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-13 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2022-11-18 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-10-31 Price Changed $280,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-21 Listed $285,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-05 Sold (MLS) $120,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-07-25 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2020-11-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-11-20 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 1988-05-01 Sold (Public Records) $14,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,942 · +10.9% YoY. Source: county tax records.