1701 SE 24th Rd #202 · Ocala, FL 34471

$129,900

2 bd · 2.5 ba · 1,122 sqft · Condo public records · 137 Days on market

Built 1985 $315/mo HOA · 22% of rent

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Why this score? — see what drove the D 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 +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +4.1/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Privacy, shade, 2-Owner Suites, 7-Closets, Outside storage, screened lanai, upgraded hepa AC filtration, and a very desirable location also within sought out Forest HS 3.52 avg GPA district with potential to request long term rental for investors. Smart shoppers looking for affordability, ideally situated close to medical and major highways for an amazing location location! Ocala Gem: Rare Dual-Suite Layout with Endless Potential; all age community; 2023 ROOF; inside laundry; community pool! This 2-bedroom, 2.5-bathroom condo offers a hard-to-find floor plan in a prime Ocala location. Offered price reflects this home is ready for your personal cosmetic touches. The Standout Features True

Key facts

• 2017 ac
• Mature oaks
• Dual owner suites

Tags

• 2023 ROOF
• 2017 AC
• DUAL OWNER SUITES
• NO REAR NEIGHBORS
• SCREENED PORCH
• MATURE OAKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $6 ($69/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 4.1% in Ocala — 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 69/100 on livability (#476 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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: South Ocala Elementary School (math 45% / reading 43%, grade F, #1,330 of 2,144 statewide, top 63%, 715 students, 60% FRL); Osceola Middle School (math 60% / reading 58%, grade B, #144 of 571 statewide, top 26%, 999 students, 44% FRL); Forest High School (math 36% / reading 54%, grade D-, #228 of 667 statewide, top 35%, 2,325 students, 42% FRL).
• Market conditions: Rents soft (-0.6%/yr); 318 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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

• It's been on market 137 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $130k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. Crime grade is F 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.32×
• Total profit: $-24,698
• Equity at exit: $19,369

10-year hold

• IRR: -24.6%
• Equity multiple: -0.00×
• Total profit: $-36,519
• Equity at exit: $11,231

Cash invested: $36,372 (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 34471

• Rents YoY: -0.6%
• Active inventory: 318
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$681
• Tax from tax record: −$69 /mo · $822/yr
• Insurance: −$54
• HOA: −$315
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $6

Break-even live

Break-even rent $1,416

Max offer price $129,900

Occupancy floor 95%

Sensitivity live

Price	-10% $79	-5% $43	+0% $6	+5% $-31	+10% $-68
Rent	-10% $-107	-5% $-50	+0% $6	+5% $62	+10% $118
Rate	-1.0pp $71	-0.5pp $39	base $6	+0.5pp $-28	+1.0pp $-62

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 SE Lake Weir Ave Ocala, FL	1.0–3.0	1.0–2.0	812	$1,612	$1.98	15d	16	0.26mi
2201 SE 14th Ave Ocala, FL	2.0	1.5	1050	$1,162	$1.11	15d	2	0.32mi
1850 SE 18th Ave Ocala, FL	1.0–3.0	1.0–2.0	999	$1,648	$1.65	15d	51	0.44mi
3009 SE 7th Ave Apt D Ocala, FL	2.0	1.0	850	$1,050	$1.24	23d	1	0.73mi
3009 SE 7th Ave Unit C Ocala, FL	2.0	1.0	850	$1,100	$1.29	23d	1	0.73mi
2270 SE 34th St Ocala, FL	2.0	1.5	1022	$1,500	$1.47	15d	1	0.78mi
3800 SE 17th Ct Unit B Ocala, FL	2.0	1.0	808	$1,199	$1.48	23d	1	0.79mi
3950 SE 19th Ave Unit D Ocala, FL	2.0	1.0	808	$1,250	$1.55	23d	1	0.87mi
691 SE 19th St Ocala, FL	3.0	2.0	1424	$1,800	$1.26	23d	1	0.97mi
3140 SE 1st Ave Ocala, FL	1.0–2.0	1.0–2.0	800	$1,249	$1.56	15d	5	1.00mi
730 SE 13th St Ocala, FL	2.0	1.0	1000	$1,499	$1.50	23d	1	1.33mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-22
   status Pending
2. 2026-04-16
   price $129,900
3. 2026-03-19
   price $139,900
4. 2026-01-07
   price $149,900
5. 2025-12-18
   price $154,900
6. 2025-12-06
   listed $169,900 Active
7. 1998-01-08
   soldstatus $47,900
8. 1996-05-31
   soldstatus $47,900

ⓘ 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: $822 · $69/mo
• Projected year-2 tax: $1,078 · $90/mo
• Expected delta: +$256/yr (+$21/mo · 31.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,083
• − Mortgage interest: −$7,276
• − Property taxes: −$822
• − Insurance: −$650
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − HOA: −$3,780
• − Depreciation: −$3,779
• Taxable loss: −$1,958
• Est. tax savings @ 24.0%: +$470
• After-tax cash flow: $539/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 — Ocala

• Score: 69/100
• State rank: #476
• US rank: #8461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocala, FL
• County: Marion County · 315,796 people
• City population: 263,375
• Metro: Ocala, FL
• Population (ZIP): 28,342
• Household income: $65,789
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1494.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Two or more races 11% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 3% Dominican 1%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Jamaica, Dominican Republic
• Languages at home: 86% English-only · Spanish 11% Other Asian/Pacific 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: ▼ -176.55%
• Current HPI: 224.1709
• Rent YoY: ▼ -0.64%
• 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

+171.2% since first listed

8 events — show timeline

• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $154,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-06 Listed $169,900 Stellar MLS as Distributed by MLS Grid
• 1998-01-08 Sold (Public Records) $47,900 Public Records
• 1996-05-31 Sold (Public Records) $47,900 Public Records

Property tax history

+4.1%/yr

Latest (2025): $822 · +0.5% YoY. Source: county tax records.