15120 NE 35th Avenue Rd · Reddick, FL 32113

$180,000

2 bd · 2.0 ba · 1,663 sqft · SingleFamily public records · 276 Days on market

Built 1989 0.33 ac lot $108/sqft · 22% below area Est $232k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Schools +3.6/10.0
• DSCR +3.2/10.0
• 1% rule +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

Key facts

• 0.33 acre lot
• Built 1989
• Listed 276 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (19.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (20.7% below list).
• Recommended offer: $143k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 1.7% in Reddick — 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 58/100 on livability (#845 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools 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.
• Market conditions: 142 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 276 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $55k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,673 (20.7% 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 276 days. Have you received any prior offers? Is the seller open to a 21% 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 D-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. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• GRM: 10.5

CMA / ARV

• ARV (median comp): $231,505
• List price: $180,000
• Delta: -22.25%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-41,846
• Equity at exit: $26,839

10-year hold

• IRR: -19.6%
• Equity multiple: -0.04×
• Total profit: $-52,561
• Equity at exit: $15,563

Cash invested: $50,400 (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 32113

• Home prices YoY: -5.5%
• Active inventory: 142
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,427 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$183 /mo · $2,198/yr
• Insurance: −$75
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-200

Break-even live

Break-even rent $1,680

Max offer price $144,634

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-149	+0% $-200	+5% $-251	+10% $-302
Rent	-10% $-313	-5% $-257	+0% $-200	+5% $-144	+10% $-87
Rate	-1.0pp $-110	-0.5pp $-154	base $-200	+0.5pp $-247	+1.0pp $-294

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-03
   days on market $180,000 Active 276 DOM
2. 2026-06-02
   days on market $180,000 Active 275 DOM
3. 2026-05-31
   days on market $180,000 Active 273 DOM
4. 2026-05-30
   days on market $180,000 Active 272 DOM
5. 2026-04-21
   price $180,000 392-char remark

   Show marketing remark (392 chars)

   Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

6. 2026-01-31
   price $190,000 392-char remark

   Show marketing remark (392 chars)

   Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

7. 2026-01-17
   price $195,000 392-char remark

   Show marketing remark (392 chars)

   Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

8. 2025-11-03
   price $199,900 392-char remark

   Show marketing remark (392 chars)

   Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

9. 2025-10-07
   price $215,000 392-char remark

   Show marketing remark (392 chars)

   Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

10. 2025-09-24
    price $225,000 392-char remark

    Show marketing remark (392 chars)

    Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

11. 2025-08-31
    listed $235,000 Active 392-char remark

    Show marketing remark (392 chars)

    Discover tranquility at 15120 NE 35th Avenue Road in Citra, FL. This cozy 3-bedroom, 2-bathroom home offers 1,663 sq ft of comfortable living space. Enjoy the peaceful setting on a spacious 0.33-acre lot, only 20 minutes from downtown Ocala. With laundry facilities conveniently located inside, this home is perfect for investors or first-time buyers seeking a serene yet accessible location.

12. 2022-07-01
    soldstatus $170,000
13. 2022-06-03
    status Pending
14. 2022-06-02
    historical
15. 2022-05-19
    listed $160,000 Active
16. 2020-10-06
    historical
17. 2020-03-21
    listed $110,000
18. 2019-09-20
    soldstatus $28,000
19. 2019-07-17
    listed $34,900
20. 2015-04-21
    soldstatus $17,000
21. 2011-01-18
    soldstatus $14,250
22. 2010-12-20
    listed $19,900
23. 2010-12-06
    historical
24. 2010-10-14
    listed $19,900
25. 2010-10-06
    historical
26. 2010-07-08
    listed $29,900
27. 2010-06-07
    historical
28. 2010-04-15
    listed $23,320
29. 2006-11-29
    soldstatus $128,000
30. 2004-03-09
    historical
31. 2003-10-09
    listed $62,000

ⓘ 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: $2,198 · $183/mo
• Projected year-2 tax: $2,198 · $183/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 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,121
• − Mortgage interest: −$10,083
• − Property taxes: −$2,198
• − Insurance: −$2,402
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$5,236
• Taxable loss: −$5,538
• Est. tax savings @ 24.0%: +$1,329
• After-tax cash flow: $-1,073/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 — Reddick

• Score: 58/100
• State rank: #845
• US rank: #21164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,382

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% Black 12% Two or more races 11% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Iranian 3% Serbian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% 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: ▼ -16.68%
• Current HPI: 284.1669
• Rent YoY: —
• Metro: —
• 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

+190.3% since first listed

27 events — show timeline

• 2026-04-21 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $195,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-03 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-31 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-01 Sold (Public Records) $170,000 Public Records
• 2022-06-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-06-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-05-19 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2020-10-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-03-21 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2019-09-20 Sold (MLS) $28,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-17 Listed $34,900 Stellar MLS as Distributed by MLS Grid
• 2015-04-21 Sold (Public Records) $17,000 Public Records
• 2011-01-18 Sold (MLS) $14,250 Stellar MLS as Distributed by MLS Grid
• 2010-12-20 Listed $19,900 Stellar MLS as Distributed by MLS Grid
• 2010-12-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-10-14 Listed $19,900 Stellar MLS as Distributed by MLS Grid
• 2010-10-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-07-08 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 2010-06-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-04-15 Listed $23,320 Stellar MLS as Distributed by MLS Grid
• 2006-11-29 Sold (Public Records) $128,000 Public Records
• 2004-03-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2003-10-09 Listed $62,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $2,198 · +9.5% YoY. Source: county tax records.