5375 SE 188th Ct · Silver Springs Shores East, FL 32179

$149,000

3 bd · 2.0 ba · 1,012 sqft · Manufactured public records · 27 Days on market

Built 1984 Est $177k · 16% under

---

Why this score? — see what drove the B- 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 +26.5/30.0
• ARV discount +14.6/15.0
• DSCR +9.0/10.0
• 1% rule +6.5/10.0
• 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

This is a 3 bedroom, 2 bath doublewide mobile located on a nice lot, in a paved road subdivision. Property is located about 17 miles east of Ocala Florida. And about 5 miles from grocery store, dollar store, auto parts, hardware store, etc. This home also has a step down addition which then leads to a screened room. Home has had some updating inside as seen in the pics. Has central heat and air with a heat pump. Only 3 years old. Side by side fridge with ice and water in the door. Has a shed on the property also. Has a privacy fenced back yard. Water is a public water supply but has a private septic. Possible owner financing with 20 percent down.

Key facts

• Doublewide mobile
• Screened room
• Side by side fridge

Tags

• DOUBLEWIDE MOBILE
• PAVED ROAD SUBDIVISION
• SCREENED ROOM
• CENTRAL HEAT AND AIR
• SIDE BY SIDE FRIDGE
• PRIVACY FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 B — 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: 431 active listings in the ZIP; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• This rent runs 44% of the median local income ($47k/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 $1k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,765 (1.5% below list)

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: 1.15% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.33%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $177,100
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5215 SE 184 TH Ter	0.43mi	3/2.0	980 (-3%)	3mo	$70,000	$71	72
5686 SE 184th Ter	0.51mi	2/2.0 (-1)	944 (-7%)	14mo	$165,000	$175	48

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $921
• Equity at exit: $22,216

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $33,031
• Equity at exit: $12,883

Cash invested: $41,720 (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 32179

• Home prices YoY: -18.3%
• Active inventory: 431
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,713 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $394

Break-even live

Break-even rent $1,215

Max offer price $149,000

Occupancy floor 72%

Sensitivity live

Price	-10% $478	-5% $436	+0% $394	+5% $352	+10% $309
Rent	-10% $258	-5% $326	+0% $394	+5% $462	+10% $529
Rate	-1.0pp $469	-0.5pp $432	base $394	+0.5pp $355	+1.0pp $316

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-15
   days on market $149,000 Active 27 DOM
2. 2026-06-14
   days on market $149,000 Active 25 DOM
3. 2026-06-13
   days on market $149,000 Active 24 DOM
4. 2026-06-10
   days on market $149,000 Active 22 DOM
5. 2026-06-09
   days on market $149,000 Active 21 DOM
6. 2026-06-08
   days on market $149,000 Active 20 DOM
7. 2026-06-07
   days on market $149,000 Active 19 DOM
8. 2026-06-03
   days on market $149,000 Active 15 DOM
9. 2026-06-02
   days on market $149,000 Active 14 DOM
10. 2026-05-31
    days on market $149,000 Active 12 DOM
11. 2026-05-30
    days on market $149,000 Active 11 DOM
12. 2026-05-19
    listed $149,000 Active

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $1,396 · $116/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $20,561
• − Mortgage interest: −$8,346
• − Property taxes: −$1,396
• − Insurance: −$745
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$4,335
• Taxable income: $2,450
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $4,138/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

• County: Marion County · 315,796 people
• Metro: Ocala, FL
• Population (ZIP): 9,318
• Household income: $46,512
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 303.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 12% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3%
• Common ancestry: Slovak 4% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -54.21%
• Current HPI: 242.0408
• 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

Property tax history

+7.6%/yr

Latest (2025): $1,396 · +23.9% YoY. Source: county tax records.