3610 NE 59th Ave · Silver Springs, FL 34488

$17,900

3 bd · 1.0 ba · 672 sqft · Manufactured public records · 2 Days on market

Built 1966 7,405 sqft lot Est $18k · at est.

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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 +15.0/30.0
• ARV discount +8.1/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WHAT A DEAL! You own the land, no lot rent. Come see this 3/1 Singlewide on . 17 acre. Value of the property is in the land only, the Singlewide is a major fixer upper. Property has an existing Well and Septic Tank. Seller states previous owner installed a new Well in 2024. 12 x 12 metal shed and 42 x 10 concrete slab which is ready for a porch or a carport area. Located a quarter mile from Silver Springs State Park and near many shopping centers. Don’t miss this opportunity!

Key facts

• Metal shed
• Septic tank
• Well

Tags

• WELL
• SEPTIC TANK
• METAL SHED
• CONCRETE SLAB
• NEAR SHOPPING CENTERS

Property features AI

Finance

• Other: Lot about 0.17 acre (approximately 75 x 100); Living area about 672 square feet
• HOA & community: No association; Pets allowed: Cats and dogs

Exterior

• Utilities: Well water; Septic sewer; Electricity available
• Home design: Residential mobile home (single wide); One-story; Faces north; Entry level: One
• Construction: Metal siding; Metal roof; Crawlspace foundation; Built as a single wide mobile home
• Exterior features: Storage shed(s); Storage space; Cleared lot; Dirt road access

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; Wall/window air conditioning units
• Interior features: Other interior features
• Laundry & utility: No laundry hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $18k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $18k).
• Cap rate 60.5% vs local median 4.2% in Silver 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: Ocala Springs Elementary School (math 56% / reading 45%, grade D+, #1,055 of 2,144 statewide, top 50%, 690 students, 67% 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: 201 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $124 of loan paydown is wiped out by about $537 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $13k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• 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 $17,900

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 6.73% ✓
• Cap rate: 60.46%
• Cash-on-cash: 193.44%
• DSCR: 9.61
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $18,144
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3610 NE 59th Ave	0.00mi	3/1.0	672 (0%)	1mo	$17,900	$27	99

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: —
• Equity multiple: 10.69×
• Total profit: $48,589
• Equity at exit: $2,669

10-year hold

• IRR: —
• Equity multiple: 22.69×
• Total profit: $108,697
• Equity at exit: $1,548

Cash invested: $5,012 (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 34488

• Home prices YoY: -26.1%
• Active inventory: 201
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$43 /mo · $514/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $808

Break-even live

Break-even rent $182

Max offer price $17,900

Occupancy floor 28%

Sensitivity live

Price	-10% $818	-5% $813	+0% $808	+5% $803	+10% $798
Rent	-10% $713	-5% $760	+0% $808	+5% $856	+10% $903
Rate	-1.0pp $817	-0.5pp $813	base $808	+0.5pp $803	+1.0pp $799

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: $4,475
• Closing costs: $537
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 NE 56th Ave Silver Springs, FL	2.0	1.0	661	$1,100	$1.66	22d	1	0.40mi
2620 NE 52nd Ct Silver Springs, FL	1.0–2.0	1.0–2.0	821	$1,499	$1.83	14d	6	0.92mi

Listing history 3 events

1. 2026-05-06
   status Pending
2. 2026-05-04
   listed $17,900 Active
3. 1979-02-01
   soldstatus $13,000

ⓘ 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: $514 · $43/mo
• Projected year-2 tax: $514 · $43/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 4/10 Moderate
• 🌡 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: $14,462
• − Mortgage interest: −$1,003
• − Property taxes: −$514
• − Insurance: −$90
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$521
• Taxable income: $10,022
• Est. tax owed @ 24.0%: −$2,405
• After-tax cash flow: $7,290/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

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

Census & demographics

• Census place: Silver Springs, FL
• Population (ZIP): 11,525

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 9% Two or more races 8% Black 8%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -80.45%
• Current HPI: 227.3763
• 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

+37.7% since first listed

3 events — show timeline

• 2026-05-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Listed $17,900 Stellar MLS as Distributed by MLS Grid
• 1979-02-01 Sold (Public Records) $13,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $514 · +70.2% YoY. Source: county tax records.