3401 E Fort King St #202 · Ocala, FL 34470

$119,000

2 bd · 2.0 ba · 1,036 sqft · Condo public records · 21 Days on market

Built 1981 $263/mo HOA · 19% 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).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• DSCR +3.9/10.0
• 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

Listing remarks

Virtually Staged. Virtually Staged. MARION SPRINGS Condo available! These Condos are highly sought after and rarely available. This is a 2/2 with Ceramic Tile everywhere except two bedrooms which have laminate flooring. Come enjoy this condo on second floor (no one above you) with your private balcony from living room and primary bedroom. The Kitchen and baths have been updated. New Hot water Heater, Thermostat, LR painting. The condo has room for washer/dryer stackable if you want or there is a large laundry room by the Pool. Come enjoy & Meet neighbors at the beautiful Community pool overlooking Ocala Mini Golf Course. Location and a desirable well run condo association. Assigned pa

Key facts

• Guest parking
• Updated baths
• Community pool

Tags

• PRIVATE BALCONY
• UPDATED KITCHEN
• UPDATED BATHS
• COMMUNITY POOL
• ASSIGNED PARKING
• GUEST PARKING

Property features AI

Finance

• Other: Total monthly association fees reported as $263 (annual $3,156)
• Financial info: Lease restrictions apply
• HOA & community: HOA named Ross; monthly fee $263 covering pool, structure and grounds maintenance, sewer, trash and water; Community features include pool, community mailbox, street lights, and deed restrictions; Pets allowed

Exterior

• Parking: Community parking (details via association)
• Security: Smoke detector(s)
• Utilities: Public sewer; Water connected; Electricity connected; Cable available
• Home design: Condominium (residential); 2 total stories; unit on 2nd floor; Faces south; One level interior
• Construction: Block and concrete construction; Shingle roof; Concrete perimeter foundation; Built as part of building 3401/A
• Exterior features: Balcony; Sliding doors; Private mailbox; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Split bedroom layout; Thermostat; Blinds; Smoke detector(s)
• Laundry & utility: Common area laundry with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-5 ($-59/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (0.7% below list).
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.1% in Ocala — 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 (#476 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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.
• Zoned schools: Ward-Highlands Elementary School (math 60% / reading 55%, grade C+, #764 of 2,144 statewide, top 36%, 959 students, 59% FRL); Fort King Middle School (math 37% / reading 35%, grade F, #410 of 571 statewide, top 72%, 1,092 students, 71% FRL); Vanguard High School (math 22% / reading 48%, grade F, #379 of 667 statewide, top 58%, 1,661 students, 59% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents soft (-0.1%/yr); 297 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• This rent runs 32% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 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 21 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $79k; list at $119k implies a 51% 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 $117,215 (1.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.30×
• Total profit: $-23,453
• Equity at exit: $17,743

10-year hold

• IRR: -28.1%
• Equity multiple: -0.07×
• Total profit: $-35,694
• Equity at exit: $10,289

Cash invested: $33,320 (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 34470

• Home prices YoY: -27.6%
• Rents YoY: -0.1%
• Active inventory: 297
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$624
• Tax from tax record: −$159 /mo · $1,907/yr
• Insurance: −$50
• HOA: −$263
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-5

Break-even live

Break-even rent $1,387

Max offer price $118,133

Occupancy floor 95%

Sensitivity live

Price	-10% $62	-5% $29	+0% $-5	+5% $-39	+10% $-72
Rent	-10% $-114	-5% $-59	+0% $-5	+5% $50	+10% $104
Rate	-1.0pp $55	-0.5pp $25	base $-5	+0.5pp $-36	+1.0pp $-67

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2935 NE 7th St #310 Ocala, FL	2.0	2.0	1146	$2,300	$2.01	15d	1	0.70mi
720 NE 30th Ave Unit 720-U Ocala, FL	2.0	1.0	945	$995	$1.05	23d	1	0.70mi
720 NE 30th Ave Unit 720-H Ocala, FL	2.0	1.0	945	$1,195	$1.26	23d	1	0.70mi
720 NE 30th Ave Unit 720-P Ocala, FL	2.0	1.0	945	$1,100	$1.16	23d	1	0.70mi
411 NE 26th Ct Ocala, FL	2.0	1.0	1000	$1,299	$1.30	15d	1	0.81mi
2936 SE 13th St Ocala, FL	3.0	2.0	1285	$1,700	$1.32	15d	1	0.84mi
2701 NE 7th St Ocala, FL	1.0–3.0	1.0–2.0	998	$1,424	$1.43	15d	16	0.91mi
1312 NE 33rd Ave Ocala, FL	2.0	1.0	950	$1,499	$1.58	15d	1	0.97mi
2701 NE 10th St #406 Ocala, FL	2.0	2.5	1200	$1,450	$1.21	15d	1	1.06mi
2281 NE 2nd St Ocala, FL	2.0	2.0	1000	$1,499	$1.50	23d	1	1.06mi
2321 NE 3rd St Ocala, FL	1.0–3.0	1.0–2.0	1010	$744	$0.74	15d	1	1.08mi
2152 NE 3rd St Ocala, FL	2.0	1.0	750	$1,200	$1.60	15d	1	1.19mi
1529 NE 39th Ave Ocala, FL	1.0–2.0	1.0	720	$1,290	$1.79	15d	12	1.20mi
1725 NE 36th Ave Ocala, FL	2.0–3.0	1.0–2.0	1186	$1,350	$1.14	15d	5	1.36mi
2014 NE 3rd St Ocala, FL	2.0	1.0	800	$1,050	$1.31	15d	1	1.37mi
1812 NE 3rd St Unit 1752 Ocala, FL	2.0	2.0	936	$1,499	$1.60	23d	1	1.47mi
1812 NE 3rd St Unit 1808 Ocala, FL	2.0	2.0	936	$1,599	$1.71	15d	1	1.48mi

HOA detail condo

• Monthly dues: $263 · $3,156/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $119,000 Active 21 DOM
2. 2026-06-18
   days on market $119,000 Active 18 DOM
3. 2026-06-17
   days on market $119,000 Active 17 DOM
4. 2026-06-16
   days on market $119,000 Active 16 DOM
5. 2026-06-15
   days on market $119,000 Active 15 DOM
6. 2026-06-14
   days on market $119,000 Active 13 DOM
7. 2026-06-13
   days on market $119,000 Active 12 DOM
8. 2026-06-10
   days on market $119,000 Active 10 DOM
9. 2026-06-09
   days on market $119,000 Active 9 DOM
10. 2026-06-08
    days on market $119,000 Active 8 DOM
11. 2026-06-07
    days on market $119,000 Active 7 DOM
12. 2026-06-03
    days on market $119,000 Active 3 DOM
13. 2026-06-02
    days on market $119,000 Active 2 DOM
14. 2026-06-01
    remarks 695-char remark
15. 2026-06-01
    listed $119,000 Active 1 DOM

ⓘ 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: $1,907 · $159/mo
• Projected year-2 tax: $1,907 · $159/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 2/10 Low
• 🌡 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 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,566
• − Mortgage interest: −$6,666
• − Property taxes: −$1,907
• − Insurance: −$595
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − HOA: −$3,156
• − Depreciation: −$3,462
• Taxable loss: −$1,870
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $390/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 — Ocala

• Score: 69/100
• State rank: #476
• US rank: #8461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocala, FL
• County: Marion County · 315,796 people
• City population: 263,375
• Metro: Ocala, FL
• Population (ZIP): 22,443
• Household income: $52,083
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 771.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 12% Hispanic / Latino 12% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 1%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica, Vietnam
• Languages at home: 89% English-only · Spanish 9%

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: ▼ -92.74%
• Current HPI: 242.686
• Rent YoY: ▼ -0.07%
• 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

+190.2% since first listed

12 events — show timeline

• 2026-05-31 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Rental Removed $1,300 STELLARMLS
• 2026-04-20 Listed for Rent $1,300 STELLARMLS
• 2025-01-12 Rental Removed $1,250 STELLARMLS
• 2025-01-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-11 Price Changed $1,250 STELLARMLS
• 2024-12-29 Listed for Rent $1,300 STELLARMLS
• 2024-11-30 Price Changed $139,999 Stellar MLS as Distributed by MLS Grid
• 2024-11-24 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-20 Listed $149,500 Stellar MLS as Distributed by MLS Grid
• 2007-09-11 Sold (Public Records) $78,785 Public Records
• 1995-04-17 Sold (Public Records) $41,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,907 · +4.1% YoY. Source: county tax records.