15359 SE 156th Place Rd · Silver Springs Shores East, FL 32195

$135,000

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 12 Days on market

Built 1989 Est $90k · 50% over

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.4/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this 3 acre property with a double wide manufactured home surrounded by Oaks and a pond in the rear in the Majestic Oaks subdivision. Some TLC needed. Well and septic on the property. Whether you're looking to build or simply enjoy the beauty of the great outdoors, this property offers a unique opportunity to make it your own. Call for more information.

Key facts

• Metal roof
• Overgrowth
• Large pond area

Tags

• 3 ACRES
• LONG SECLUDED DRIVEWAY
• METAL ROOF
• LARGE POND AREA
• CLEARED OF ROTTEN TREES
• OVERGROWTH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 10.0% vs local median 5.2% in Silver Springs Shores East — 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 C — 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.
• Market conditions: 52 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $933 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $90k; list at $135k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.24% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $90,288
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15359 SE 156th Place Rd	0.00mi	3/2.0	1,188 (0%)	10mo	$90,000	$76	92

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: 3.2%
• Equity multiple: 1.12×
• Total profit: $4,706
• Equity at exit: $20,129

10-year hold

• IRR: 12.8%
• Equity multiple: 2.01×
• Total profit: $38,348
• Equity at exit: $11,672

Cash invested: $37,800 (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 32195

• Home prices YoY: -23.1%
• Active inventory: 52
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,673 high
• Mortgage (P&I): −$708
• Tax from tax record: −$141 /mo · $1,687/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $417

Break-even live

Break-even rent $1,145

Max offer price $135,000

Occupancy floor 70%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Malauka Loop Ocklawaha, FL	3.0	2.0	1311	$1,695	$1.29	14d	1	1.18mi
338 Malauka Loop Ocklawaha, FL	3.0	2.0	1311	$1,895	$1.45	14d	1	1.21mi
17 Malauka Loop Pl Ocklawaha, FL	3.0	2.0	1322	$1,550	$1.17	14d	1	1.22mi
24 Malauka Loop Pl Ocklawaha, FL	3.0	2.0	1319	$1,625	$1.23	14d	1	1.26mi
122 Malauka Loop Ocklawaha, FL	3.0	2.0	1323	$1,675	$1.27	21d	1	1.47mi
9 Malauka Loop Ocklawaha, FL	3.0	2.0	1389	$1,625	$1.17	21d	1	1.48mi
9 Malauka Loop Ln Ocklawaha, FL	3.0	2.0	1319	$1,625	$1.23	21d	1	1.48mi

Listing history 11 events

1. 2026-06-18
   days on market $135,000 Active 12 DOM
2. 2026-06-17
   days on market $135,000 Active 11 DOM
3. 2026-06-16
   days on market $135,000 Active 10 DOM
4. 2026-06-15
   days on market $135,000 Active 9 DOM
5. 2026-06-14
   days on market $135,000 Active 7 DOM
6. 2026-06-13
   days on market $135,000 Active 6 DOM
7. 2026-06-10
   days on market $135,000 Active 4 DOM
8. 2026-06-09
   days on market $135,000 Active 3 DOM
9. 2026-06-08
   days on market $135,000 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $135,000 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: $1,687 · $141/mo
• Projected year-2 tax: $1,687 · $141/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,082
• − Mortgage interest: −$7,562
• − Property taxes: −$1,687
• − Insurance: −$675
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$3,927
• Taxable income: $3,017
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $4,283/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 — Silver Springs Shores East

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

Census & demographics

• Population (ZIP): 3,282

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 (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 1%
• Common ancestry: Polish 6% Lithuanian 5% Portuguese 4%
• Foreign-born: 2% · Canada, Jamaica, Vietnam
• Languages at home: 99% English-only · Spanish 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: ▼ -81.54%
• Current HPI: 271.6087
• 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

+38.5% since first listed

6 events — show timeline

• 2026-06-07 Listed $135,000 FSBO.com
• 2025-08-22 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-11 Listed $97,500 Stellar MLS as Distributed by MLS Grid
• 2025-02-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-02-25 Listed $97,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2025): $1,687 · +17.2% YoY. Source: county tax records.