24 Pine Course Pass · Silver Springs Shores, FL 34472

$269,000

3 bd · 2.0 ba · 1,467 sqft · Land · 147 Days on market

Built 2025 10,454 sqft lot $183/sqft · 15% above area Est $235k · 15% over

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Why this score? — see what drove the F 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 +9.1/30.0
• Appreciation +8.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• ARV discount +0.9/15.0

Listing remarks MLS

Priced to sell! Step into refined comfort with this stunning brand new construction home, thoughtfully designed and completely move in ready. Offering 1,467 square feet of beautifully crafted living space, this 3 bedroom, 2 bathroom residence is nestled on just under a quarter acre at 24 Pine Course Pass, conveniently located near premier shopping, dining, and top rated schools. From the moment you enter, you’ll appreciate the open yet well defined layout, highlighted by a desirable split floor plan that provides privacy and functionality. The home is filled with natural light and features modern finishes that create a clean, elegant aesthetic perfect for both relaxing and entertaining. Whether you’re enjoying quiet evenings at home or hosting family and friends, this thoughtfully designed space offers comfort, style, and ease of living. SELLER OFFERING A FLOORING OPTION. Schedule your private showing today and experience this beautiful home for yourself. Opportunities like this don’t last long.

Key facts

• Split floor plan
• Natural light
• Modern finishes

Tags

• BRAND NEW CONSTRUCTION
• MOVE IN READY
• SPLIT FLOOR PLAN
• NATURAL LIGHT
• MODERN FINISHES
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $269k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (35.2% below list).
• Recommended offer: $174k (35.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#527 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment D, 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.
• Zoned schools: Legacy Elementary School (math 35% / reading 35%, grade F, #1,697 of 2,144 statewide, top 80%, 716 students, 72% FRL); Lake Weir Middle School (math 37% / reading 33%, grade F, #416 of 571 statewide, top 74%, 1,207 students, 76% FRL); Lake Weir High School (math 23% / reading 34%, grade F, #458 of 667 statewide, top 69%, 1,483 students, 68% FRL).
• Market conditions: Rents flat; 683 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 33% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (5.9% local appreciation)).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 2 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 $8k; list at $269k implies a 3305% 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; 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 $174,199 (35.2% 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. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.65% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 12.9

CMA / ARV

• ARV (median comp): $234,643
• List price: $269,000
• Delta: 14.64%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

5.93% appreciation · 0.17% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.78×
• Total profit: $58,548
• Equity at exit: $167,959

10-year hold

• IRR: 11.8%
• Equity multiple: 3.31×
• Total profit: $173,730
• Equity at exit: $303,602

Cash invested: $75,320 (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 34472

• Home prices YoY: 2.4%
• Rents YoY: 0.2%
• Active inventory: 683
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$59 /mo · $704/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-205

Break-even live

Break-even rent $2,002

Max offer price $232,739

Occupancy floor —

Sensitivity live

Price	-10% $-53	-5% $-129	+0% $-205	+5% $-281	+10% $-358
Rent	-10% $-343	-5% $-274	+0% $-205	+5% $-136	+10% $-68
Rate	-1.0pp $-70	-0.5pp $-137	base $-205	+0.5pp $-275	+1.0pp $-346

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Pine Crse Ocala, FL	3.0	2.0	1398	$1,645	$1.18	15d	1	0.16mi
3 Pine Circle Pass Ocala, FL	3.0	2.0	1674	$1,700	$1.02	23d	1	0.20mi
9 Pine Course Radl Ocala, FL	3.0	2.0	1453	$1,725	$1.19	15d	1	0.30mi
2 Dogwood Drive Pl Ocala, FL	4.0	2.0	1608	$2,099	$1.31	23d	1	0.38mi
43 Water Track Loop Ocala, FL	3.0	2.0	1287	$1,799	$1.40	15d	1	0.39mi
7 Pine Run Ter Ocala, FL	3.0	2.0	1432	$1,500	$1.05	15d	1	0.48mi
57 Pine Cir Ocala, FL	3.0	2.0	1270	$1,897	$1.49	15d	1	0.51mi
6 Cedar Dr Ocala, FL	3.0	2.0	1477	$1,675	$1.13	23d	1	0.62mi
88 Dogwood Drive Loop Ocala, FL	3.0	2.0	1659	$1,600	$0.96	23d	1	0.78mi
66 Laurel Pass Ocala, FL	2.0	2.0	974	$1,175	$1.21	23d	1	0.86mi
58 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	23d	1	0.87mi
54 Laurel Pass Ocala, FL	2.0	2.0	1000	$1,200	$1.20	23d	1	0.87mi
5 Cedar Ln Ocala, FL	3.0	2.0	1064	$1,750	$1.64	23d	1	0.90mi
21 Dogwood Drive Pass Ocala, FL	3.0	2.0	1390	$1,595	$1.15	23d	1	0.94mi
98 Dogwood Drive Cir Ocala, FL	3.0	2.0	1337	$1,695	$1.27	23d	1	0.94mi
9649 Bahia Rd Ocala, FL	3.0	2.0	1282	$1,595	$1.24	23d	1	0.96mi
28 Poplar Run Ocala, FL	3.0	2.0	1473	$1,650	$1.12	15d	1	0.97mi
13 Pine Radial Dr Ocala, FL	3.0	2.0	1453	$1,795	$1.24	23d	1	1.00mi
52 Walnut Rd Ocala, FL	2.0	2.0	969	$1,175	$1.21	15d	1	1.04mi
60 Walnut Rd Ocala, FL	2.0	2.0	969	$1,200	$1.24	23d	1	1.05mi
47 Walnut Run Ocala, FL	2.0	2.0	974	$1,235	$1.27	15d	1	1.07mi
7215 Midway Ter Ocala, FL	2.0	2.0	975	$1,175	$1.21	23d	1	1.08mi
7455 Midway Ter Unit K Ocala, FL	2.0	1.0	904	$1,249	$1.38	23d	1	1.09mi
31 Walnut Run Ocala, FL	2.0	2.0	974	$1,200	$1.23	15d	1	1.09mi
50 Walnut Run Ocala, FL	3.0	2.0	1287	$1,795	$1.39	15d	1	1.11mi
11 Aspen Dr Ocala, FL	3.0	2.0	1357	$1,725	$1.27	23d	1	1.12mi
23 Aspen Dr Ocala, FL	3.0	2.0	1399	$1,650	$1.18	23d	1	1.19mi
9610 Bahia Rd Ocala, FL	4.0	2.0	1617	$1,895	$1.17	23d	1	1.24mi
9 Dogwood Trail Dr Ocala, FL	3.0	2.0	1110	$1,595	$1.44	23d	1	1.29mi
7 Juniper Pass Way Ocala, FL	3.0	2.0	1453	$1,750	$1.20	23d	1	1.32mi
7044 Hemlock Crse Ocala, FL	3.0	2.0	1270	$1,897	$1.49	15d	1	1.39mi
162 Bahia Terrace Dr Ocala, FL	2.0	2.0	984	$1,375	$1.40	23d	1	1.41mi
7184 Hemlock Loop Ocala, FL	3.0	2.0	1392	$1,675	$1.20	23d	1	1.43mi
338 Larch Rd Ocala, FL	3.0	2.0	1394	$1,595	$1.14	23d	1	1.43mi
43 Bahia Pass Ocala, FL	3.0	2.0	1188	$1,475	$1.24	23d	1	1.47mi
10 Juniper Trl Ocala, FL	4.0	2.0	1617	$1,875	$1.16	15d	1	1.47mi

Listing history 19 events

1. 2026-06-22
   days on market $269,000 Active 147 DOM
2. 2026-06-18
   days on market $269,000 Active 144 DOM
3. 2026-06-17
   days on market $269,000 Active 143 DOM
4. 2026-06-16
   days on market $269,000 Active 142 DOM
5. 2026-06-15
   days on market $269,000 Active 141 DOM
6. 2026-06-14
   days on market $269,000 Active 139 DOM
7. 2026-06-13
   days on market $269,000 Active 138 DOM
8. 2026-06-10
   days on market $269,000 Active 136 DOM
9. 2026-06-09
   days on market $269,000 Active 135 DOM
10. 2026-06-08
    days on market $269,000 Active 134 DOM
11. 2026-06-07
    days on market $269,000 Active 133 DOM
12. 2026-06-03
    days on market $269,000 Active 129 DOM
13. 2026-06-02
    days on market $269,000 Active 128 DOM
14. 2026-05-31
    days on market $269,000 Active 126 DOM
15. 2026-05-30
    days on market $269,000 Active 125 DOM
16. 2026-01-25
    listed $269,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Priced to sell! Step into refined comfort with this stunning brand new construction home, thoughtfully designed and completely move in ready. Offering 1,467 square feet of beautifully crafted living space, this 3 bedroom, 2 bathroom residence is nestled on just under a quarter acre at 24 Pine Course Pass, conveniently located near premier shopping, dining, and top rated schools. From the moment you enter, you’ll appreciate the open yet well defined layout, highlighted by a desirable split floor plan that provides privacy and functionality. The home is filled with natural light and features modern finishes that create a clean, elegant aesthetic perfect for both relaxing and entertaining. Whether you’re enjoying quiet evenings at home or hosting family and friends, this thoughtfully designed space offers comfort, style, and ease of living. SELLER OFFERING A FLOORING OPTION. Schedule your private showing today and experience this beautiful home for yourself. Opportunities like this don’t last long.

17. 2025-12-31
    historical
18. 2025-07-15
    listed $269,934 Active
19. 2004-08-16
    soldstatus $7,900

ⓘ 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: $704 · $59/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$1,528/yr (+$127/mo · 217.0%)

ⓘ 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 5/10 Major
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,904
• − Mortgage interest: −$15,068
• − Property taxes: −$704
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$7,825
• Taxable loss: −$7,384
• Est. tax savings @ 24.0%: +$1,772
• After-tax cash flow: $-691/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

• Score: 68/100
• State rank: #527
• US rank: #9854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Springs Shores, FL
• County: Marion County · 315,796 people
• City population: 34,665
• Metro: Ocala, FL
• Population (ZIP): 35,851
• Household income: $64,208
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 655.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 25% Black 21% Two or more races 18% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14% Cuban 3%
• Common ancestry: Romanian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 19% 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: ▲ 5.93%
• Current HPI: 255.0714
• Rent YoY: ▲ 0.17%
• 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

+3305.1% since first listed

4 events — show timeline

• 2026-01-25 Listed $269,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-15 Listed $269,934 Stellar MLS as Distributed by MLS Grid
• 2004-08-16 Sold (Public Records) $7,900 Public Records

Property tax history

+17.7%/yr

Latest (2025): $704 · +20.3% YoY. Source: county tax records.