596 Bahia Cir Unit B · Silver Springs Shores, FL 34472

$74,900

1 bd · 1.0 ba · 764 sqft · Condo public records · 62 Days on market

Built 1972 $234/mo HOA · 18% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This Condo unit is conveniently located to shopping, restaurants and the community center. It would make an ideal snow bird retreat, starter home, or investment opportunity. All appliances are five years old or less and the water heater was replaced in 2025. HOA fee includes trash, cable and pool. Needs flooring but has been freshly painted and is priced to sell.

Key facts

• $234 HOA
• Community pool
• Built 1972

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 23 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 $5k of equity ($518 loan paydown + $4k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.74% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.77%
• DSCR: 1.84
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.9%
• Equity multiple: 2.85×
• Total profit: $38,744
• Equity at exit: $46,766

10-year hold

• IRR: 25.5%
• Equity multiple: 5.36×
• Total profit: $91,418
• Equity at exit: $84,535

Cash invested: $20,972 (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 34472

• Home prices YoY: 2.4%
• Rents YoY: 0.2%
• Active inventory: 674
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$393
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$31
• HOA: −$234
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $328

Break-even live

Break-even rent $889

Max offer price $74,900

Occupancy floor 70%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
593 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,200	$1.16	21d	1	0.04mi
633 Silver Pass Unit B Ocala, FL	2.0	2.0	1072	$1,500	$1.40	21d	1	0.05mi
561 Fairways Cir Unit A Ocala, FL	2.0	1.5	1031	$1,250	$1.21	21d	1	0.13mi
549 Fairways Dr Unit A Ocala, FL	2.0	2.0	1072	$1,200	$1.12	21d	1	0.14mi
532 Bahia Cir Unit A Ocala, FL	2.0	1.5	1027	$1,300	$1.27	21d	1	0.22mi
520 Fairways Cir Unit A Ocala, FL	2.0	1.5	1027	$1,100	$1.07	21d	1	0.25mi
548 Fairways Cir Unit C102 Ocala, FL	2.0	2.0	850	$1,400	$1.65	21d	1	0.27mi
510 Fairways Cir Unit A Ocala, FL	2.0	2.0	1000	$1,299	$1.30	21d	1	0.27mi
544 Silver Crse Ocala, FL	2.0	1.0	904	$1,395	$1.54	13d	1	0.28mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	13d	1	0.34mi
681 Midway Dr Unit A Ocala, FL	2.0	2.0	1000	$1,250	$1.25	21d	1	0.34mi
454 Fairways Cir Ocala, FL	2.0	2.0	837	$1,200	$1.43	21d	1	0.36mi
454 Fairways Cir Unit B203 Ocala, FL	2.0	2.0	850	$1,375	$1.62	21d	1	0.36mi
454 Fairways Cir Unit B204 Ocala, FL	2.0	2.0	837	$1,289	$1.54	21d	1	0.36mi
576 Fairways Ln Unit M104 Ocala, FL	2.0	2.0	837	$1,250	$1.49	21d	1	0.36mi
608 Midway Dr Unit A Ocala, FL	2.0	1.5	1054	$1,500	$1.42	13d	1	0.44mi
7817 Midway Drive Ter Unit A103 Ocala, FL	1.0	1.0	729	$1,300	$1.78	21d	1	0.48mi
54 Pine Trak Unit 104F Ocala, FL	2.0	2.0	832	$1,300	$1.56	21d	1	0.52mi
58 Pine Trak Unit 104D Ocala, FL	2.0	2.0	832	$1,050	$1.26	21d	1	0.55mi
62 Pine Trak Ocala, FL	2.0	2.0	832	$1,250	$1.50	21d	1	0.59mi
12 Spring Loop Ocala, FL	2.0	1.0	900	$1,350	$1.50	13d	1	0.96mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	21d	1	1.05mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	21d	1	1.41mi

HOA detail condo

• Monthly dues: $234 · $2,808/yr
• Likely covers: watertrashcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $74,900 Active 62 DOM
2. 2026-06-17
   days on market $74,900 Active 61 DOM
3. 2026-06-16
   days on market $74,900 Active 60 DOM
4. 2026-06-15
   days on market $74,900 Active 59 DOM
5. 2026-06-14
   days on market $74,900 Active 57 DOM
6. 2026-06-13
   days on market $74,900 Active 56 DOM
7. 2026-06-10
   days on market $74,900 Active 54 DOM
8. 2026-06-09
   days on market $74,900 Active 53 DOM
9. 2026-06-08
   days on market $74,900 Active 52 DOM
10. 2026-06-07
    days on market $74,900 Active 51 DOM
11. 2026-06-03
    days on market $74,900 Active 47 DOM
12. 2026-06-02
    days on market $74,900 Active 46 DOM
13. 2026-06-01
    days on market $74,900 Active 45 DOM
14. 2026-05-31
    days on market $74,900 Active 44 DOM
15. 2026-05-30
    statusdays on market $74,900 Active 43 DOM
16. 2026-04-06
    status Pending
17. 2026-02-23
    listed $74,900 Active
18. 2007-08-06
    soldstatus $75,000
19. 2003-11-23
    soldstatus $28,000
20. 1984-01-01
    soldstatus $32,500
21. 1975-05-01
    soldstatus $18,750

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $622 · $52/mo
• Expected delta: +$88/yr (+$7/mo · 16.4%)

ⓘ 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 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $15,655
• − Mortgage interest: −$4,196
• − Property taxes: −$534
• − Insurance: −$374
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − HOA: −$2,808
• − Depreciation: −$2,179
• Taxable income: $3,059
• Est. tax owed @ 24.0%: −$734
• After-tax cash flow: $3,203/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

+299.5% since first listed

6 events — show timeline

• 2026-04-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2007-08-06 Sold (Public Records) $75,000 Public Records
• 2003-11-23 Sold (Public Records) $28,000 Public Records
• 1984-01-01 Sold (Public Records) $32,500 Public Records
• 1975-05-01 Sold (Public Records) $18,750 Public Records

Property tax history

+5.8%/yr

Latest (2025): $534 · +65.9% YoY. Source: county tax records.