8985 SW 196th Terrace Rd · Rainbow Springs, FL 34432

$240,000

2 bd · 2.0 ba · 1,566 sqft · SingleFamily public records · 3 Days on market

Built 1980 0.46 ac lot Est $290k · 17% under $20/mo HOA · 1% 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Schools +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in one of Dunnellon's most coveted nature-centric communities. Nestled on a spacious, nearly half-acre lot in Rainbow Springs Country Club Estates, this 2/2/2 home is ready for its next chapter — and the setting alone is worth the drive. The front yard is graced with beautiful mature trees and lush landscaping, while the back of the property overlooks the tranquil old fairway, offering peaceful, open views that never get old. Imagine starting your mornings with coffee or tea on the back patio as the sun rises over the old golf course — watching the birds graze, listening to the quiet, and breathing in the fresh Florida air. When you're ready to explore, hop on

Key facts

• Open views
• Tranquil old fairway
• Lush landscaping

Tags

• SPACIOUS NEARLY HALF-ACRE LOT
• MATURE TREES
• LUSH LANDSCAPING
• TRANQUIL OLD FAIRWAY
• OPEN VIEWS
• COMMUNITY TRAILS

Property features AI

Finance

• Other: Lot approximately 0.46 acres (dimensions 100x200), paved public-maintained road; Irrigation equipment included
• HOA & community: Rainbow Springs POA / Kimberly; HOA required — $250 annually ($20.83/month); Pets allowed

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Private sewer; Electricity connected; Water connected; Private river park access to Rainbow River
• Home design: Single family residence; One story; Faces west; Fixer condition; Homestead exempt
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built with a total building area of 2,496 sq ft
• Exterior features: Sprinkler (metered); Other exterior features

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Walk-in closets; Wood-burning fireplace
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $38 ($455/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 $193k (19.6% below list).
• Recommended offer: $193k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.7% in Rainbow Springs — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Dunnellon Elementary School (math 46% / reading 48%, grade D-, #1,191 of 2,144 statewide, top 57%, 580 students, 61% FRL); Dunnellon High School (math 30% / reading 32%, grade F, #429 of 667 statewide, top 65%, 1,350 students, 63% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 550 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $81k; list at $240k implies a 196% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,991 (19.6% 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. 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?
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: 0.80% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $289,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20145 SW 85th Pl	0.60mi	2/2.0	1,541 (-2%)	2mo	$262,400	$170	68
19861 SW 93rd Lane Rd	0.38mi	2/2.0	1,624 (+4%)	10mo	$266,500	$164	67
19797 SW 85th Ln	0.39mi	2/2.0	1,612 (+3%)	14mo	$305,000	$189	65
20045 SW 88th Place Rd	0.36mi	3/2.0 (+1)	1,702 (+9%)	6mo	$315,000	$185	59
19309 SW 91st Loop	0.43mi	3/2.0 (+1)	1,399 (-11%)	1mo	$267,500	$191	56
9738 SW 195th Cir	0.58mi	3/2.0 (+1)	1,681 (+7%)	2mo	$295,000	$175	54
9085 SW 202nd Avenue Rd	0.51mi	3/2.0 (+1)	1,390 (-11%)	3mo	$349,900	$252	50
9700 SW 194th Cir	0.63mi	2/2.0	1,483 (-5%)	15mo	$289,500	$195	50
20100 SW 95 St	0.63mi	2/2.0	1,759 (+12%)	9mo	$223,000	$127	42
9660 SW 196th Avenue Rd	0.72mi	3/2.0 (+1)	1,788 (+14%)	1mo	$367,000	$205	37
9711 SW 196th Cir	0.67mi	3/3.0 (+1)	1,685 (+8%)	13mo	$265,000	$157	36
19052 SW 91st Ln	0.71mi	3/2.0 (+1)	1,791 (+14%)	10mo	$257,000	$143	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-36,553
• Equity at exit: $35,785

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-29,032
• Equity at exit: $20,751

Cash invested: $67,200 (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 34432

• Home prices YoY: -21.5%
• Active inventory: 550
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$100
• HOA: −$20
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $38

Break-even live

Break-even rent $1,882

Max offer price $240,000

Occupancy floor 93%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9041 SW 196th Ct Dunnellon, FL	3.0	2.0	2116	$2,050	$0.97	21d	1	0.15mi
19660 SW 83rd Place Rd Unit C13 Dunnellon, FL	2.0	2.0	1150	$2,250	$1.96	21d	1	0.60mi
9731 SW 200th Ct Dunnellon, FL	2.0	2.0	1549	$1,650	$1.07	14d	1	0.75mi
9707 SW 196th Avenue Rd Dunnellon, FL	3.0	2.0	1669	$1,800	$1.08	21d	1	0.76mi
8503 SW 203rd Ct Dunnellon, FL	3.0	2.0	1845	$1,395	$0.76	14d	1	0.78mi
19231 SW 97th St Dunnellon, FL	3.0	2.0	1557	$2,100	$1.35	21d	1	0.81mi
9892 SW 189th Cir Dunnellon, FL	3.0	2.0	1657	$1,945	$1.17	21d	1	1.09mi
10102 SW 188th Cir Dunnellon, FL	3.0	2.0	1553	$1,800	$1.16	21d	1	1.37mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: landscaping

Listing history 4 events

1. 2026-05-05
   status Pending
2. 2026-05-02
   listed $240,000 Active
3. 1987-06-01
   soldstatus $81,000
4. 1979-10-01
   soldstatus $23,000

ⓘ 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: $1,298 · $108/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$694/yr (+$58/mo · 53.5%)

ⓘ 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 ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,159
• − Mortgage interest: −$13,444
• − Property taxes: −$1,298
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − HOA: −$240
• − Depreciation: −$6,982
• Taxable loss: −$3,710
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $1,345/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 — Rainbow Springs

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Rainbow Springs, FL
• City population: 25,668
• Population (ZIP): 13,197

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 16% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 9% 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: ▼ -57.34%
• Current HPI: 209.595
• 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

+943.5% since first listed

4 events — show timeline

• 2026-05-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Listed $240,000 Stellar MLS as Distributed by MLS Grid
• 1987-06-01 Sold (Public Records) $81,000 Public Records
• 1979-10-01 Sold (Public Records) $23,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $1,298 · +22.3% YoY. Source: county tax records.