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Marion Oaks is on track to become Florida’s next home investment hotspot
A reasonable drive from both Tampa and Orlando, Marion Oaks is a family-oriented community within the Ocala metropolitan area. The community saw a boom in the mid-2000s, with many homes being built between 2005-2012, and boasts a population of approximately 15,000 residents.
As a market for investment properties, Marion Oaks distinguishes itself as an affordable area, with most homes selling at or below the median price, keeping mortgages low and facilitating greater cash flow. The reasonable housing prices, combined with ambitious commercial and infrastructure developments that are already underway, have Marion Oaks on the path for explosive growth over the coming years.
More jobs and infrastructure make Marion
Oaks ideal for renters
Caption: Employment in Marion Oaks is expected to outpace most of the surrounding area between now and 2045.
Source: Ocala Marion Transportation Planning Organization.
Marion Oaks residents are supported by easy access to nearby necessities such as grocery stores, a post office and hospitals, as well as three public schools. “Now that a new commerce park is poised to open just a few miles from the community’s main CR 484 entrance, Marion Oaks’ population could quadruple in the next two decades,” says Ocala.com, necessitating an infrastructure expansion for Marion Oaks residents, including a 20-acre-lot secured by the Marion County School District for a new school expected to open in the next ten years.
The Florida Crossroads Commerce Park, mentioned above, will be a 1,000-acre-plus business hub that will attract more workers and their families to the area. Amazon and Dollar Tree have both designated the commerce park as sites for new distribution centers, with the latter set to occupy the largest building in the state of Florida and bringing in approximately 1,000 jobs for Marion County residents. The commerce park itself is expected to eventually employ 7,000 workers.
Interstate 75 currently serves as the primary highway connecting Marion Oaks to the Ocala metropolitan area, but as the community continues to draw in more commercial interests and introduce new jobs, the infrastructure sustaining it also continues to grow: the Southwest 49th Avenue project, which will alleviate commutes along CR 484 and I-75 by connecting Marion Oaks to Southwest Ocala, is scheduled to enter its third phase of construction this year.
To sustain the residential sprawl that typically coincides with commercial opportunities, national grocery chains have begun planning a proposed strip mall to serve the community. Other supporting businesses, such as gas stations and leisure centers, are also sure to make their mark in Marion Oaks.
Rental property investment opportunities
abound in Marion Oaks
Caption: Marion Oaks’ population is expected to grow more rapidly than most of the surrounding region between now and 2045.
Source: Ocala Marion Transportation Planning Organization.
Marion Oaks is an attractive community for first-time home buyers, who typically rent a house, as there are no apartments in the area, before they buy. By investing in homes that appeal to first-time home buyers, you’re also investing in homes that appeal broadly to renters.
Between April–June 2020, the median sales price for Marion Oaks homes was $160,000, with the median monthly rent being $1,200 during that same period. To maximize return on investment, strategic investors should look to buy in the $140-150,000 range and seek to rent for $1400-1500. With no down payment and a 30-year-mortgage at under 5% interest, investors can expect to pay a mortgage of roughly $800 per month, leaving plenty left over for maintenance while still bringing in considerable cash flow.
With the median salary for the area being approximately $30,000 per year, an average couple could easily afford to rent in Marion Oaks: “We get multiple applications pretty quickly on well-priced properties, and even in the $1300-$1500 [rent] range, we’re getting multiple applications,” Clay Lehman, CEO for Resolute Property Management, said, “Demand for rentals right now is crazy.”
Let Resolute Property Management help you get the most out of your Marion Oaks investment
Marion Oaks is on a path to prosperity for residence as well as prospective rental property owners. However, having first hand experience with the local community, housing market, laws and regulations can be the difference between earning back your investment sooner or bogging down your cash flow with unforeseen expenses or prolonged vacancies.
Enjoy peace of mind by enlisting Resolute Property Management — we’ve created an efficient infrastructure to protect homeowners and have developed a stellar reputation managing properties in Marion County for over a decade.
Our property marketing has enabled us to fill vacancies in 98% of the properties we manage within 30 days. Our tenant placement practices pre-screen renters to verify income, employment and criminal history. Bi-annual property inspections ensure that we identify issues before they can affect the value of your home, and we manage all of the repairs ourself, so you never have to get your hands dirty. These are just a few of the benefits of working with Resolute — to find out more, schedule a 15-minute call with us today.