2508 SW 35th Pl #51 · Gainesville, FL 32608

$149,900

0 bd · 2.0 ba · 0 sqft · Condo public records · 113 Days on market

Built 1983 $262/mo HOA · 21% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.3/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

Key facts

• Close to uf
• Close to restaurants
• Washer and dryer

Tags

• WASHER AND DRYER
• PRIME LOCATION
• CLOSE TO UF
• CLOSE TO SHANDS HOSPITAL
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-331 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (31.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (18.3% below list).
• Recommended offer: $102k (31.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 81/100 on livability (#97 in FL, #1,480 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Alachua (urban): math 49% / reading 54% proficiency, ranked #30 of 73 in FL (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Idylwild Elementary School (math 30% / reading 29%, grade F, #1,896 of 2,144 statewide, top 90%, 533 students, 78% FRL); Kanapaha Middle School (math 54% / reading 54%, grade B-, #196 of 571 statewide, top 36%, 1,094 students, 53% FRL); Eastside High School (math 29% / reading 56%, grade F, #264 of 667 statewide, top 41%, 1,220 students, 56% FRL).
• Market conditions: Rents rising (+2.9%/yr); 605 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $150k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $102,074 (31.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.45%
• DSCR: 0.58
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: -33.1%
• Equity multiple: -0.08×
• Total profit: $-45,297
• Equity at exit: $22,351

10-year hold

• IRR: -39.8%
• Equity multiple: -0.58×
• Total profit: $-66,375
• Equity at exit: $12,961

Cash invested: $41,972 (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 32608

• Rents YoY: 2.9%
• Active inventory: 605
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$262
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-331

Break-even live

Break-even rent $1,643

Max offer price $102,074

Occupancy floor —

Sensitivity live

Price	-10% $-227	-5% $-279	+0% $-331	+5% $-382	+10% $-434
Rent	-10% $-427	-5% $-379	+0% $-331	+5% $-282	+10% $-234
Rate	-1.0pp $-255	-0.5pp $-292	base $-331	+0.5pp $-369	+1.0pp $-409

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4455 SW 34th St Gainesville, FL	1.0–3.0	1.0–3.0	1033	$1,830	$1.77	15d	28	0.99mi

HOA detail condo

• Monthly dues: $262 · $3,144/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-12
   status Pending 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

2. 2026-05-04
   price $149,900 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

3. 2026-03-03
   price $157,900 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

4. 2026-02-05
   price $161,900 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

5. 2026-01-29
   price $162,000 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

6. 2026-01-19
   listed $164,900 Active 535-char remark

   Show marketing remark (535 chars)

   Under contract-accepting backup offers. Updated and move-in ready! Second Photo in photos is the living room virtually staged! Gated Community with community pool! ! This charming condo features modern finishes, a washer and dryer, and a prime location close to UF, Shands Hospital, restaurants, and shopping. The floor plan includes a combined living/dining area, one bedroom and one bathroom downstairs, and a bedroom upstairs with 2 sinks and Walk in Closet. Enjoy comfort and convenience with everything you need just minutes away!

7. 2011-08-25
   soldstatus $45,900 260-char remark

   Show marketing remark (260 chars)

   Priced to sell! This 2 bedroom 2 bath condo is located on a bus route and minutes to campus! Enjoy the pool and racquetball too! Ceramic tile and wood laminate floors throughout and a great floor plan! Bank of America pre-qual required on all offers. 5+ Units.

8. 2011-06-29
   listed $45,900 260-char remark

   Show marketing remark (260 chars)

   Priced to sell! This 2 bedroom 2 bath condo is located on a bus route and minutes to campus! Enjoy the pool and racquetball too! Ceramic tile and wood laminate floors throughout and a great floor plan! Bank of America pre-qual required on all offers. 5+ Units.

9. 2007-06-08
   historical
10. 2005-05-03
    listed $124,900

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

Taxation est. · year 1

• Rental income: $14,695
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − HOA: −$3,144
• − Depreciation: −$4,361
• Taxable loss: −$6,556
• Est. tax savings @ 24.0%: +$1,573
• After-tax cash flow: $-2,393/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: Alachua
• NCES district ID: 1200030
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $42,683
• Composite: 43.31/100
• National rank: #3038
• State rank: #30 of 73 in FL

Livability — Gainesville

• Score: 81/100
• State rank: #97
• US rank: #1480

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D+ Housing A- Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gainesville, FL
• County: Alachua County · 218,005 people
• City population: 188,348
• Metro: Gainesville, FL
• Population (ZIP): 54,566
• Household income: $61,588
• Rent vs Own: 58.7% rent · 41.3% own
• Severe rent burden: 4709.0

Population outlook (Alachua County) Hauer SSP2

• Today (2025): 289,834 people
• By 2030: 305,873 · +5.5%
• By 2040: 335,246 · +15.7%
• By 2050: 364,719 · +25.8%
• By 2075: 436,665 · +50.7%
• By 2100: 482,920 · +66.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 16% Black 13% Asian 12% Two or more races 11%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Alachua

• 2024 margin: Strong D (+21.0) · D 59.7% · R 38.8% · Other 1.5%
• 2008→2024 swing: -0.6pp no change · 2008: 21.6pp · 2024: 21.0pp
• All cycles: 2024: D+21.0 2020: D+27.2 2016: D+22.5 2012: D+17.3 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.91%
• Current HPI: 253.0629
• Rent YoY: ▲ 2.89%
• Metro: Gainesville, 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

+20.0% since first listed

10 events — show timeline

• 2026-05-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $157,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $161,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-29 Price Changed $162,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-19 Listed $164,900 Stellar MLS as Distributed by MLS Grid
• 2011-08-25 Sold (MLS) $45,900 Stellar MLS as Distributed by MLS Grid
• 2011-06-29 Listed $45,900 Stellar MLS as Distributed by MLS Grid
• 2007-06-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-05-03 Listed $124,900 Stellar MLS as Distributed by MLS Grid