8552 SE 128th Ln · Belleview, FL 34491

$179,000

3 bd · 1.0 ba · 888 sqft · MultiFamily public records · 7 Days on market

Built 1974 1.65 ac lot

---

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
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Under contract-accepting backup offers. Mini Horse farm with 2 homes between The Villages and Belleview FL. 1.6 acres zoned horses/animals or garden with 2 homes. One home just remodeled-w/ Screened in porch & a carport. Horse barn & Tack Shed. The other home has a longterm renter. Power and water in horse barn and tack shed. New 20k heat/ac unit in living room. ……. .NO HOA, NO CDD, own the land. Month-to-Month Rental Income was $1100 month for main mobile and $775 month on the second mobile. CASH BUYER ONLY DUE TO THE AGE OF THE MOBILES (1972 & 1974).

Key facts

• Power and water
• Screened in porch
• Tack shed

Tags

• MINI HORSE FARM
• ZONED HORSES
• SCREENED IN PORCH
• HORSE BARN
• TACK SHED
• POWER AND WATER

Property features AI

Finance

• Other: Property zoned A1; Lot approximately 1.65 acres (182 x 395); Barn suited for horses with center aisle and tack room; Designed for horse farm use
• HOA & community: No association

Exterior

• Parking: Carport with space for 3 vehicles
• Utilities: Well water; Private sewer; Electricity connected
• Home design: Residential mobile home (single wide); One story; Faces east; Entry level: One
• Construction: Metal siding; Metal roof; Crawlspace foundation
• Exterior features: Exterior lighting; Easement driveway access

Interior

• Kitchen: Range
• Bedrooms: 5 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Ductless heating; Wall/window cooling units
• Interior features: Ceiling fans; Lighting (exterior)
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $881 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Cap rate 12.6% vs local median 4.5% in Belleview — 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 (#458 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, 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: 705 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• At $2,701/mo this rent would consume 49% of the median local household income ($67k/yr) (locally 256% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $44k; list at $179k implies a 307% 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; moderate 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 $179,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.51% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.6%
• Equity multiple: 1.54×
• Total profit: $27,183
• Equity at exit: $26,689

10-year hold

• IRR: 22.4%
• Equity multiple: 2.92×
• Total profit: $96,162
• Equity at exit: $15,477

Cash invested: $50,120 (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 34491

• Home prices YoY: -35.0%
• Active inventory: 705
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,701 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$173 /mo · $2,071/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $881

Break-even live

Break-even rent $1,585

Max offer price $179,000

Occupancy floor 62%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,702
Total (2 units)			$2,701

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8957 SE 144th St Summerfield, FL	2.0	1.0	672	$1,100	$1.64	21d	1	1.50mi

Listing history 14 events

1. 2026-05-15
   status Pending
2. 2026-05-08
   listed $179,000 Active
3. 2025-05-16
   historical
4. 2025-05-01
   price $169,000
5. 2025-04-14
   listed $179,000 Active
6. 2022-02-23
   price $145,000
7. 2022-02-23
   price $149,000
8. 2022-02-14
   price $155,000
9. 2022-02-13
   listed $165,000 Active
10. 2018-08-07
    soldstatus $44,000
11. 2018-08-07
    soldstatus $88,000
12. 2018-04-16
    listed $69,000
13. 1988-09-01
    soldstatus $65,000
14. 1986-05-01
    soldstatus $32,000

ⓘ 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: $2,071 · $173/mo
• Projected year-2 tax: $2,071 · $173/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,412
• − Mortgage interest: −$10,027
• − Property taxes: −$2,071
• − Insurance: −$1,692
• − Repairs & maintenance: −$2,593
• − Management: −$2,593
• − Depreciation: −$5,207
• Taxable income: $8,228
• Est. tax owed @ 24.0%: −$1,975
• After-tax cash flow: $8,602/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 — Belleview

• Score: 69/100
• State rank: #458
• US rank: #8314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marion County · 315,796 people
• City population: 19,167
• Metro: Ocala, FL
• Population (ZIP): 33,318
• Household income: $66,679
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 256.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 1%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 11% Vietnamese 1% French/Haitian/Cajun 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: ▼ -107.67%
• Current HPI: 200.0792
• Rent YoY: —
• 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

+459.4% since first listed

14 events — show timeline

• 2026-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-08 Listed $179,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-01 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-14 Listed $179,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-23 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-23 Price Changed $149,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-14 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-13 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2018-08-07 Sold (Public Records) $88,000 Public Records
• 2018-08-07 Sold (MLS) $44,000 Stellar MLS as Distributed by MLS Grid
• 2018-04-16 Listed $69,000 Stellar MLS as Distributed by MLS Grid
• 1988-09-01 Sold (Public Records) $65,000 Public Records
• 1986-05-01 Sold (Public Records) $32,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,071 · +27.2% YoY. Source: county tax records.