masterkey logo
8880 SW 27th Ave
Ocala, FL

8880 SW 27th Ave

$9,767
2 bd • 2 ba • 960 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$9,767

Price/Sq.Ft

$10

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 8880 SW 27th Ave, Ocala, FL 34476 offers an incredibly low price point of $9,767, which is exceptionally rare in today's market. At $10.17/sqft, it's priced 97% below the average Ocala price of $339/sqft (2023 data). The 960 sqft, 2-bed, 2-bath layout provides a functional living space for a small family or retirees. The property features a carport, providing covered parking. The well-maintained lawn and garden bed add curb appeal. The location in Ocala, known as the "Horse Capital of the World," offers a unique charm and potential for equestrian enthusiasts. The surrounding mature trees provide natural shade and privacy.

The Bad

The extremely low price raises significant questions about the property's condition, ownership structure, or potential issues. The listing lacks crucial information such as the year built, property features, and utility details, making a comprehensive evaluation challenging. Given the median income of $56,786 in the area, this price point is unusually low, suggesting potential hidden costs or complications. The property appears to be a manufactured or mobile home, which typically depreciates over time unlike traditional homes. The small size (960 sqft) is below the average for the area and may limit resale potential.

The Ugly

The exceptionally low price of $9,767 strongly suggests this is likely a land lease situation, where the buyer owns the structure but not the land it sits on. Land lease fees can be substantial, potentially $400-$600 per month or more, which are not factored into the listing price. As a manufactured home, it may face rapid depreciation, with some models losing 3-3.5% value annually. The unknown year built is concerning; if it's pre-1976, it may not meet HUD standards, making financing and insurance difficult or impossible. Manufactured homes are at higher risk for storm and wind damage, critical in hurricane-prone Florida. The property likely requires significant updates or repairs not visible in the image. Financing for homes under $50,000 is often challenging, potentially limiting this to cash buyers only.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property might suit a cash buyer looking for an extremely low-cost entry into homeownership or a part-time residence in Ocala. It could appeal to retirees or snowbirds seeking an affordable winter home in Florida. Investors experienced with manufactured homes and land lease properties might see potential for rental income, given the area's $1,180 average rent for 2-bedroom units. DIY enthusiasts or house flippers comfortable with extensive renovations might find this an interesting project. Those familiar with manufactured home living and comfortable with the associated risks and lifestyle might find this an affordable option in Ocala's market.

Not For

This property is not suitable for buyers seeking a traditional homeownership experience or long-term appreciation. First-time homebuyers or those unfamiliar with manufactured homes and land lease arrangements should avoid this complex situation. Families needing more space or modern amenities would find the 960 sqft limiting. Buyers requiring conventional mortgage financing will likely be unable to purchase this property. Those unprepared for potentially significant ongoing costs (land lease, repairs, higher insurance) beyond the low purchase price should look elsewhere. Investors seeking a straightforward, low-maintenance rental property would face challenges with this home.
Demographics
Area Median Income

$56,786

Price Prediction Challenge

Think you know what 8880 SW 27th Ave will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

The land lease arrangement poses significant financial risks, with potentially high monthly fees and the possibility of lease non-renewal or increased rates. As a manufactured home, it may depreciate rapidly, potentially losing 3-3.5% of its value annually. The unknown build year raises concerns about compliance with HUD standards if pre-1976. Florida's hurricane risk is particularly concerning for manufactured homes, potentially leading to much higher insurance costs or difficulty obtaining coverage. The extremely low price suggests potential major structural or system issues not visible in the image. Financing and resale could be extremely challenging due to the property type and low value. Ocala's sinkhole risk could be catastrophic for a manufactured home. The property may not meet local zoning or building codes, potentially leading to legal issues or forced upgrades.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$80,983

729.1% above list price

Median Price

$53,000

Based on 6 recent sales

Price per Sq.Ft

$129

Comparable Properties

3170 SW 89TH PLACE, OCALA, FL 34476
Price: $157,900
Sq.Ft: 1,056
Beds/Baths: 2/2
$/Sq.Ft:
$1501369.7%
Sale Date: 12/10/2024
9172 SW 31ST AVENUE ROAD, OCALA, FL 34476
Price: $40,000
Sq.Ft: 900
Beds/Baths: 3/2
$/Sq.Ft:
$44336.8%
Sale Date: 8/20/2024
9342 SW 32ND TERRACE, OCALA, FL 34476
Price: $163,000
Sq.Ft: 840
Beds/Baths: 2/2
$/Sq.Ft:
$1941807.3%
Sale Date: 8/13/2024
TBD SW 35TH AVENUE, OCALA, FL 34476
Price: $20,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 10/14/2024
00 SW 92ND STREET, OCALA, FL 34476
Price: $53,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/6/2024
9652 SW 37 TERRACE, OCALA, FL 34476
Price: $52,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 8/21/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$293

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results