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Silver Springs Shores: Great Home Investment Area with Plenty of Buildable Lots
Located on the outskirts of Ocala, this cozy community with a population under 10,000 is a reasonable drive from Orlando and Tampa, while being close to plenty of family-friendly recreation. Silver Springs Shores saw a surge of building in the mid-2000s, with those homes now ideal as fix-n-flips or as minimal fixer-uppers to hold and rent. Plus, there are plenty of affordable lots if you want to build brand new rental properties that offer a nice return on investment.
So, in short, investors can benefit from affordable prices—which keeps mortgages low—along with plenty of options and opportunities, and decent cash flow on investments. There are just some of the benefits to enjoy in this under-explored treasure! The median price for a three-bedroom, two-bathroom home averages around $150,000, with rents between $1,350 and Overall, investors can expect to achieve cap rates in the 6-7% range on both new construction and existing homes.
Silver Springs Shores: Perfectly Positioned for Renters
Ocala’s economic base includes multiple major distribution centers, a type of industry that tends to do well, even when the overall economy may not be as strong as we’d prefer. Plus, there are plenty of companies in the trucking/transportation and parts-related industries. These also tend to do well, even in less than stable economies. Income tiers earned tend to include those where renting is a good choice for employees.
Silver Springs Shores residents have easy access to highways that can seamlessly take them to work—and even more job opportunities will soon be available in the Ocala area. Ocala has experienced tremendous job growth in the distribution sector.
Ocala is home to two significant commerce parks that have contributed to this job growth. The Ocala/Marion County Commerce Park is located in the NE quadrant of Marion County and includes distribution centers for Amazon, FedEx, Chewy’s and AutoZone.
The Florida Crossroads Commerce Park is located in the SW quadrant of Marion County and is home to the Dollar Tree distribution center. Dollar Tree completed phase I of the project, a 500,000 square foot building, and has just started phase II. Once completed, the building will be approximately 1,000,000 square feet and will be the largest building in the state of Florida. These distribution centers create stable diversified employment for your potential tenant.
Plus, the Southwest 49th Avenue project will be in its third phase of construction. This project will alleviate commuting traffic along CR 484 and I-75, making it even more pleasant to reside in the outskirts of Ocala.
Rental Property Investments in Silver Springs
Whether fixing up a home for investment purposes or building houses for renters, this is an affordable community for first-time home buyers. And, by offering the type of housing that appeals to this kind of buyer, you’re investing in the type of homes that can catch the eye of renters.
Investment properties in Silver Springs Shores will also appeal to people and families who appreciate the opportunities for recreation all around them. Located by Silver Springs State Park, they can enjoy the beauty of nature, and participate in kayaking, canoeing, paddle boarding, hiking, camping and more—including the ability to rent glass bottom boats. The museum/education center is a must-see and a range of dining options are available.
Baseline Road Trailhead State Park is also nearby, with its two trails giving families the chance to choose between a paved urban trail and a secluded multi-use one to enjoy nature and outdoor activities.
Lake Weir is just a short drive away, perfect for boating and fishing, wakeboarding, tubing, or just a relaxing time by the water. Gator Joes and Eaton Beach are both in-demand restaurants located there. Plus, golfers can enjoy their sport of choice at The Country Club at Silver Springs Shores.
Get the Most Out of Your Silver Springs Shores investment: Partner with Resolute Property Management
The Resolute Property Management team’s first-hand experience with the community, along with our knowledge of the housing market, and housing laws and regulations, allows us to help you maximize your investment. We focus on helping our clients earn back their investment more quickly and to help prevent extended vacancies and unexpected expenses.
Here are ways that our efficient infrastructure helps our clients:
• Property marketing services: We fill vacancies in 98% of properties that we manage within 30 days.
• Tenant placement services: Our experienced team pre-screens renters, which includes verifying income, employment, and criminal history.
• Property inspection services: Conducted bi-annually, we identify issues before they can affect the home’s value.
• Repair management services: We handle them all, so you don’t have to get your own hands dirty!
To find out more about our Silver Springs Shores property management services, and how they can benefit you and your investments, just schedule a 15-minute call with us today.