16789 SW 62nd St · Rainbow Springs, FL 34481

$237,500

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 117 Days on market

Built 2025 1.03 ac lot ↓ 5% since listing

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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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• 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

Welcome Home! Ready for immediate occupancy. Priced to sell! Seller offering $5,000 in closing cost assistance. FHA, VA and USDA Eligible. No lot rent, HOA or deed restrictions. This new construction 4 bedroom 2 bathroom home is situated on a serene 1+ acre parcel. Zoned Agricultural. The 7 YEAR Home Warranty gives you peace of mind as it covers the structure, roof, plumbing, electric, HVAC and appliances. This home features a traditional split bedroom plan with an open concept kitchen/living area with so many great features and tons of storage space! Upon entry, you are greeted by a spacious living area with high ceilings. The kitchen is perfect for entertaining featuring a large island an

Key facts

• Open concept kitchen
• New construction
• 7 year home warranty

Tags

• NEW CONSTRUCTION
• ZONED AGRICULTURAL
• 7 YEAR HOME WARRANTY
• SPLIT BEDROOM PLAN
• OPEN CONCEPT KITCHEN
• LARGE ISLAND

Property features AI

Finance

• Other: Home warranty available
• Financial info: No lease restrictions
• HOA & community: No HOA association; Pets allowed

Exterior

• Parking: Parking pad
• Security: Smoke detectors
• Utilities: Private well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity connected; Phone available; Underground utilities; Water connected
• Home design: Manufactured double-wide home; Single-story; South-facing; Completed condition; One living level; Entry on main level
• Construction: Vinyl siding with frame construction; Shingle roof; Pillar/post/pier foundation; New construction
• Exterior features: Outdoor lighting; Oak trees and landscaped trees on property; Private, oversized lot; Unpaved surfaces; Limerock road access; Zoned for horses; In-county, unincorporated location

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Ice maker; Exhaust fan; Electric water heater
• Bedrooms: 4 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Crown molding; Eat-in kitchen; High ceilings; Open floorplan; Split bedroom layout; Thermostat; Walk-in closets; Window treatments; Blinds; Double-pane windows
• Laundry & utility: Inside laundry room; Washer hookup; Electric dryer hookup; Inside utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $238k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (2.4% below list).
• Recommended offer: $216k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.7% in Rainbow 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.
• Market conditions: 1151 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• At $2,319/mo this rent would consume 49% of the median local household income ($57k/yr) (locally 313% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 117 days — a 9% lower offer ($216k) 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $216,125 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.98% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-26,326
• Equity at exit: $35,412

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-7,169
• Equity at exit: $20,535

Cash invested: $66,500 (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 34481

• Home prices YoY: -25.2%
• Active inventory: 1151
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,319 medium
• Mortgage (P&I): −$1,245
• Tax est. 1.5%: −$297 /mo · $3,562/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $190

Break-even live

Break-even rent $2,078

Max offer price $237,500

Occupancy floor 87%

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: $59,375
• Closing costs: $7,125
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3699 SW 169th Ct Ocala, FL	4.0	2.0	1799	$2,100	$1.17	21d	1	0.35mi
4738 SW 166th Court Rd Ocala, FL	3.0	2.0	1782	$1,600	$0.90	13d	1	1.03mi
6944 SW 179th Court Rd Dunnellon, FL	3.0	2.0	1474	$3,300	$2.24	13d	1	1.27mi
4486 SW 159th Ct Ocala, FL	3.0	1.0	1149	$2,500	$2.18	21d	1	1.50mi

Listing history 7 events

1. 2026-05-07
   status Pending
2. 2026-03-25
   price $237,500
3. 2026-02-27
   price $239,000
4. 2026-01-10
   listed $239,900 Active
5. 2025-12-03
   historical
6. 2025-10-29
   price $239,900
7. 2025-09-05
   listed $249,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,823
• − Mortgage interest: −$13,304
• − Property taxes: −$3,562
• − Insurance: −$1,188
• − Repairs & maintenance: −$2,226
• − Management: −$2,226
• − Depreciation: −$6,909
• Taxable loss: −$1,591
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $2,666/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 — Rainbow Springs

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): 26,782
• Household income: $57,324
• Rent vs Own: 9.8% rent · 90.2% own
• Severe rent burden: 313.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Black 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 9% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -67.48%
• Current HPI: 199.986
• 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

Price history

-5.0% since first listed

7 events — show timeline

• 2026-05-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $237,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $239,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-10 Listed $239,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-29 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-05 Listed $249,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2025): $277 · +5.7% YoY. Source: county tax records.