10448 SE 148th Pl · The Villages, FL 34491

$125,000

2 bd · 1.0 ba · 648 sqft · Manufactured public records · 75 Days on market

Built 1974 9,583 sqft lot $193/sqft · 65% above area Est $104k · 21% over

---

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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +6.3/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this charming, recently remodeled getaway home located in Summerfield near Lake Weir. The property features several significant updates, including newer plumbing, a new water heater, and brand-new appliances. Its prime location offers convenient access to both The Villages and Ocala. Plus big bonus room and shed that has electricity and water. Plus the home has a large front bonus are as well. Come check this home out.

Key facts

• New water heater
• Newer plumbing
• Brand-new appliances

Tags

• REMODELED GETAWAY HOME
• NEWER PLUMBING
• NEW WATER HEATER
• BRAND-NEW APPLIANCES
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.0% in The Villages — 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 70/100 on livability (#431 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A; Watch: amenities F, commute F, health & safety 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; 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 $864 of loan paydown is wiped out by about $4k 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 75 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $125k implies a 98% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.13% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (median comp): $103,612
• List price: $125,000
• Delta: 20.64%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-304
• Equity at exit: $18,638

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $25,385
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$98 /mo · $1,174/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $313

Break-even live

Break-even rent $1,020

Max offer price $125,000

Occupancy floor 73%

Sensitivity live

Price	-10% $384	-5% $349	+0% $313	+5% $278	+10% $243
Rent	-10% $202	-5% $258	+0% $313	+5% $369	+10% $425
Rate	-1.0pp $376	-0.5pp $345	base $313	+0.5pp $281	+1.0pp $248

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $125,000 Active 75 DOM
2. 2026-06-17
   days on market $125,000 Active 74 DOM
3. 2026-06-16
   days on market $125,000 Active 73 DOM
4. 2026-06-15
   days on market $125,000 Active 72 DOM
5. 2026-06-14
   days on market $125,000 Active 70 DOM
6. 2026-06-13
   days on market $125,000 Active 69 DOM
7. 2026-06-10
   days on market $125,000 Active 67 DOM
8. 2026-06-09
   days on market $125,000 Active 66 DOM
9. 2026-06-08
   days on market $125,000 Active 65 DOM
10. 2026-06-07
    days on market $125,000 Active 64 DOM
11. 2026-06-03
    pricedays on market $125,000 Active 60 DOM
12. 2026-06-02
    days on market $129,900 Active 59 DOM
13. 2026-06-01
    days on market $129,900 Active 58 DOM
14. 2026-05-31
    days on market $129,900 Active 57 DOM
15. 2026-05-30
    days on market $129,900 Active 56 DOM
16. 2026-05-01
    price $129,900 438-char remark

    Show marketing remark (438 chars)

    Come check out this charming, recently remodeled getaway home located in Summerfield near Lake Weir. The property features several significant updates, including newer plumbing, a new water heater, and brand-new appliances. Its prime location offers convenient access to both The Villages and Ocala. Plus big bonus room and shed that has electricity and water. Plus the home has a large front bonus are as well. Come check this home out.

17. 2026-04-04
    listed $135,000 Active 438-char remark

    Show marketing remark (438 chars)

    Come check out this charming, recently remodeled getaway home located in Summerfield near Lake Weir. The property features several significant updates, including newer plumbing, a new water heater, and brand-new appliances. Its prime location offers convenient access to both The Villages and Ocala. Plus big bonus room and shed that has electricity and water. Plus the home has a large front bonus are as well. Come check this home out.

18. 2023-06-27
    soldstatus $63,000
19. 2023-06-22
    soldstatus $63,000 Closed 186-char remark

    Show marketing remark (186 chars)

    This mobile home located in the Orange Blossom Hills, is situated on a beautiful lot with a tree lined driveway located close enough to enjoy the amenities of The Villages and Lake Weir.

20. 2023-05-13
    status Pending 186-char remark

    Show marketing remark (186 chars)

    This mobile home located in the Orange Blossom Hills, is situated on a beautiful lot with a tree lined driveway located close enough to enjoy the amenities of The Villages and Lake Weir.

21. 2023-04-28
    listed $70,900 Active 186-char remark

    Show marketing remark (186 chars)

    This mobile home located in the Orange Blossom Hills, is situated on a beautiful lot with a tree lined driveway located close enough to enjoy the amenities of The Villages and Lake Weir.

22. 1996-03-28
    soldstatus $22,500

ⓘ 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: $1,174 · $98/mo
• Projected year-2 tax: $1,174 · $98/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $16,996
• − Mortgage interest: −$7,002
• − Property taxes: −$1,174
• − Insurance: −$625
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − Depreciation: −$3,636
• Taxable income: $1,839
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $3,320/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 — The Villages

• Score: 70/100
• State rank: #431
• US rank: #7363

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marion County · 315,796 people
• City population: 83,973
• 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

+477.3% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-04 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2023-06-27 Sold (Public Records) $63,000 Public Records
• 2023-06-22 Sold (MLS) $63,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-04-28 Listed $70,900 Stellar MLS as Distributed by MLS Grid
• 1996-03-28 Sold (Public Records) $22,500 Public Records

Property tax history

+14.4%/yr

Latest (2025): $1,174 · +23.8% YoY. Source: county tax records.