35 Hickory Track Way · Silver Springs Shores, FL 34472

$183,900

2 bd · 2.0 ba · 960 sqft · SingleFamily public records · 10 Days on market

Built 1985 10,019 sqft lot Est $193k · at est. $14/mo HOA · 1% of rent

---

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 +14.8/30.0
• ARV discount +9.6/15.0
• Appreciation +8.0/10.0
• DSCR +4.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SUPER CUTE AND COZY 2/2 W/ A NEW ROOF, ALMOST ENTIRE INTERIOR HAS BEEN REMODELED BANK APPROVED PRICE OF $25,500K.

Key facts

• Fence enclosed patio
• Jack and jill style
• Newer shed

Tags

• ENCLOSED LAUNDRY MUDROOM
• HALF GARAGE AVAILABLE
• NEWER SHED
• FENCE ENCLOSED PATIO
• JACK AND JILL STYLE
• UPDATED ROOF

Property features AI

Finance

• Financial info: Total monthly fees: $14; Total annual fees: $168; Lease restrictions apply
• HOA & community: Lake Joy HOA with required monthly fee ($14); Association approval required; Pets allowed

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single family residence; One story; Faces west; Residential, completed condition; Zoned R1
• Construction: Stucco exterior; Shingle roof; Pillar/Post/Pier foundation; Built on a 0.23-acre lot (80 x 125)
• Exterior features: Rear porch; Rain gutters; Sliding doors; Shed(s); Fruit trees; Paved lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Formal dining room (separate); Formal living room (separate); Inside utility
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $50 ($604/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 $149k (18.7% below list).
• Recommended offer: $149k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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; 8 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 $12k of equity ($1k loan paydown + $11k 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 $51k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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.
• Current owner paid $56k; list at $184k implies a 227% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,431 (18.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.81% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $192,960
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Oak Court Pass	0.22mi	3/2.0 (+1)	888 (-8%)	21mo	$205,000	$231	55
9021 SE 79th Avenue Rd	0.68mi	2/1.0	900 (-6%)	14mo	$165,000	$183	42
200 Oak Lane Rd	0.60mi	3/2.0 (+1)	1,089 (+13%)	17mo	$219,000	$201	31

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: 15.1%
• Equity multiple: 2.00×
• Total profit: $51,362
• Equity at exit: $114,824

10-year hold

• IRR: 14.4%
• Equity multiple: 3.74×
• Total profit: $141,158
• Equity at exit: $207,555

Cash invested: $51,492 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,494 high
• Mortgage (P&I): −$964
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$77
• HOA: −$14
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $50

Break-even live

Break-even rent $1,431

Max offer price $183,900

Occupancy floor 92%

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: $45,975
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Oak Lane Pass Ocala, FL	2.0	2.0	988	$1,325	$1.34	21d	1	0.48mi
217 Locust Pass Ln Ocala, FL	3.0	2.0	1011	$1,697	$1.68	13d	1	0.96mi
80 Locust Pass Run Ocala, FL	3.0	2.0	1003	$1,595	$1.59	13d	1	1.21mi
2 Ash Dr Ocala, FL	3.0	2.0	1083	$1,750	$1.62	13d	1	1.26mi
62 Pine Trak Ocala, FL	2.0	2.0	832	$1,250	$1.50	21d	1	1.41mi
58 Pine Trak Unit 104D Ocala, FL	2.0	2.0	832	$1,050	$1.26	21d	1	1.45mi
7817 Midway Drive Ter Unit A103 Ocala, FL	1.0	1.0	729	$1,300	$1.78	21d	1	1.47mi
12 Spring Loop Ocala, FL	2.0	1.0	900	$1,350	$1.50	13d	1	1.48mi

HOA detail

• Monthly dues: $14 · $168/yr

Listing history 15 events

1. 2026-06-09
   status $183,900 Pending 10 DOM
2. 2026-06-08
   days on market $183,900 Active 10 DOM
3. 2026-06-07
   days on market $183,900 Active 9 DOM
4. 2026-06-03
   days on market $183,900 Active 5 DOM
5. 2026-06-02
   days on market $183,900 Active 4 DOM
6. 2026-06-01
   days on market $183,900 Active 3 DOM
7. 2026-05-31
   days on market $183,900 Active 2 DOM
8. 2026-05-30
   price $183,900 Active 1 DOM
9. 2026-04-24
   listed $185,000 Active
10. 2013-12-18
    soldstatus $56,286
11. 2012-10-12
    soldstatus $26,500 113-char remark

    Show marketing remark (113 chars)

    SUPER CUTE AND COZY 2/2 W/ A NEW ROOF, ALMOST ENTIRE INTERIOR HAS BEEN REMODELED BANK APPROVED PRICE OF $25,500K.

12. 2011-12-20
    listed $25,500 113-char remark

    Show marketing remark (113 chars)

    SUPER CUTE AND COZY 2/2 W/ A NEW ROOF, ALMOST ENTIRE INTERIOR HAS BEEN REMODELED BANK APPROVED PRICE OF $25,500K.

13. 2002-08-22
    soldstatus $48,000
14. 1998-07-02
    soldstatus $37,500
15. 1985-01-01
    soldstatus $71,300

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $1,526 · $127/mo
• Expected delta: +$624/yr (+$52/mo · 69.2%)

ⓘ 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 5/10 Major
• 🌡 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: $17,932
• − Mortgage interest: −$10,301
• − Property taxes: −$902
• − Insurance: −$920
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − HOA: −$168
• − Depreciation: −$5,350
• Taxable loss: −$2,578
• Est. tax savings @ 24.0%: +$619
• After-tax cash flow: $1,222/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

+159.5% since first listed

7 events — show timeline

• 2026-04-24 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2013-12-18 Sold (Public Records) $56,286 Public Records
• 2012-10-12 Sold (MLS) $26,500 Stellar MLS as Distributed by MLS Grid
• 2011-12-20 Listed $25,500 Stellar MLS as Distributed by MLS Grid
• 2002-08-22 Sold (Public Records) $48,000 Public Records
• 1998-07-02 Sold (Public Records) $37,500 Public Records
• 1985-01-01 Sold (Public Records) $71,300 Public Records

Property tax history

+5.7%/yr

Latest (2025): $902 · +34.2% YoY. Source: county tax records.