2118 Ne 40th Ter, Ocala
Marion County Real Estate - Silver Springs
Silver Springs is in North Central Florida. It's population as recorded in the 2010 Census was 6,539. Silver Springs is approximately 5 miles from Ocala (population 56,315) and around 20 miles from The Villages (population 51,442).
The median age for residents of Silver Springs is 41. Around 30.2% of Silver Springs households include school aged children and 42.3% of households include individuals aged 65 years or over. Census records indicate 57.5% of the Silver Springs population are White, 33.2% are Black or African American, .5% American Indian, 1.1% Asian and 2.9% are Two or more Races.
There are 3,449 housing units in Silver Springs. 781 (22.6%) of these were reported as vacant in the 2010 Census. Silver Springs is a tourist destination, 29.9% (234) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 1,002 residential rental units in Silver Springs. 829 of them were occupied in 2010 providing a residential rental vacancy rate of 16.6%.
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Marion County
Marion County is located in North Central Florida, along with Alachua, Madison, Hamilton, Taylor, Suwannee, Union, Bradford, Lafayette, Dixie, Levy, Gilchrist, and Columbia counties. Incorporated municipalities include Belleview, Dunnellon, Ocala, McIntosh, and Reddick. The population of Marion County is over 330,000.
The largest industries providing employment in Marion County are agriculture, educational, health, and social services; retail trade; and manufacturing. Major private sector employers are Munroe Regional Medical Center, Ocala Regional Medical Center & West Marion Community Hospital, AT&T, Lockheed Martin, and E-ONE Inc. top public sector employers include Marion County Public Schools, Florida State Government, Federal Government, Marion County BCC, and City of Ocala.
Marion County is the only region in the United States that can legitimately claim the title of the horse capital of the world. Marion County contains nearly 50,000 horses during peak season, more than any other county in the nation. Thoroughbred racehorses from Marion were the first Florida-bred horses to win the Kentucky Derby and Florida Derby. The industry drives approximately $2.2 billion into the local economy and supports 40,000 jobs.
An important agricultural area, Marion County has a long history of ranching. It is the 12th largest cattle producer in the state and the Ocala Bull Sale is the oldest in the nation. More than 250,000 acres are devoted to logging. Other crops produced here include peanuts, citrus, and hay.
Ten miles northwest of Ocala lies the Lowell Correctional Institution. The facility was the first to house female inmates exclusively. The Lowell Annex is part of the complex and houses the state's female inmates on death row.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 2116 Ne 40th Ter | Single Family | 1,523 | B |
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| 2120 Ne 40th Ter | Single Family | 1,480 | B |
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| 2112 Ne 40th Ter | Single Family | 1,597 | B |
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| 2200 Ne 40th Ter | Single Family | 1,435 | B |
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| 2201 Ne 40th Ave | Single Family | 1,191 | B |
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| 2127 Ne 40th Ave | Single Family | 1,138 | B |
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| 2203 Ne 40th Ave | Single Family | 1,023 | B |
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| 2125 Ne 40th Ave | Single Family | 1,375 | B |
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| 2205 Ne 40th Ave | Single Family | 1,160 | B |
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| 2123 Ne 40th Ave | Single Family | 1,191 | B |
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| 2207 Ne 40th Ave | Single Family | 1,563 | B |
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| 2110 Ne 40th Ter | Single Family | 1,348 | B |
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| 2202 Ne 40th Ter | Single Family | 1,639 | B |
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| 2121 Ne 40th Ave | Single Family | 1,316 | B |
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| 2209 Ne 40th Ave | Single Family | 1,090 | B |
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| 2119 Ne 40th Ave | Single Family | 1,157 | B |
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| 2211 Ne 40th Ave | Single Family | 1,270 | B |
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| 2108 Ne 40th Ter | Single Family | 1,464 | B |
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| 2204 Ne 40th Ter | Single Family | 1,565 | B |
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| 2117 Ne 40th Ave | Single Family | 1,088 | B |
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| 3931 Ne 22nd St | Single Family | 1,126 | B |
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| 3928 Ne 22nd St | Single Family | 1,180 | B |
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| 2213 Ne 40th Ave | Single Family | 1,587 | B |
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| 2115 Ne 40th Ave | Single Family | 1,463 | B |
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| 2215 Ne 40th Ave | Single Family | 1,187 | B |
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| 3929 Ne 22nd St | Single Family | 1,144 | B |
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| 3926 Ne 22nd St | Single Family | 1,356 | B |
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| 3928 Ne 22nd Ln | Single Family | 1,436 | B |
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| 2206 Ne 40th Ter | Single Family | 1,649 | B |
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| 2106 Ne 40th Ter | Single Family | 1,506 | B |
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| 3931 Ne 21st Ln | Single Family | 1,710 | B |
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| 2221 Ne 40th Ave | Single Family | 1,132 | B |
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| 3927 Ne 22nd St | Single Family | 1,406 | B |
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| 3924 Ne 22nd St | Single Family | 1,413 | B |
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| 3926 Ne 22nd Ln | Single Family | 1,461 | B |
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| 3940 Ne 21st Ln | Single Family | 1,379 | B |
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| 3929 Ne 21st Ln | Single Family | 1,515 | B |
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| 2301 Ne 40th Ave | Single Family | 1,066 | B |
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| 4045 Ne 21st St | Church | 35,680 | B |
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| 3925 Ne 22nd St | Single Family | 1,328 | B |
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| 3938 Ne 21st Ln | Single Family | 1,075 | B |
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| 3922 Ne 22 Nd St | Single Family | 1,188 | B |
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| 3927 Ne 21st Ln | Single Family | 1,060 | B |
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| 3924 Ne 22nd Ln | Single Family | 1,246 | B |
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| 2208 Ne 40th Ter | Single Family | 1,696 | B |
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| 3936 Ne 21st Ln | Single Family | 1,058 | B |
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| 2303 Ne 40th Ave | Single Family | 1,311 | B |
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| 3925 Ne 21st Ln | Single Family | 1,250 | B |
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| 3934 Ne 21st Ln | Single Family | 1,353 | B |
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Local Household Income
The median household income in this part of Florida is $49,566. The bottom 10% of the population earn less than $14,764 per year. The top 10% earn more than $131,988 per year. The top 1% earn more than $464,688 per year. Most renters earn between $24,756 (20th percentile) and $41,232 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $99,132 and $123,915.
The tax assessed value of this property places it in percentile 74 of all properties in this area. This suggests it would appeal to someone earning around $80,150 per year who should qualify for a mortgage between $160,300 and $200,375.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $805. Most renters earn between $2,063 and $3,436 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $584 (20th percentile) to $1,046 (80th percentile) range. The residential vacancy rate is 8%.
This property falls in percentile 74 of all properties in this area. This corresponds to a rent of $974 per month and a monthly household income of $3,206 ($38,472 per year)
Nearby Companies
2121 Ne 40th Ave
2121 Ne 40th Ave
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