1623 SE 3rd Ave · Gainesville, FL 32641

$162,000

4 bd · 2.0 ba · 1,356 sqft · SingleFamily public records · 77 Days on market

Built 1950 0.27 ac lot

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

• Cash flow +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

(MAJOR PRICE REDUCTION April 4 2026 ) 5/2 large fenced yard. 3 Miles from Newnans Lake 3 miles From University Of Florida . Refrigerator and stove are as is. The Storage Shed does not transfer. it not included in sale

Key facts

• Large fenced yard
• Newnans lake
• 0.27 acre lot

Tags

• LARGE FENCED YARD
• NEWNANS LAKE
• UNIVERSITY OF FLORIDA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $162k.

Deal economics

• At list price, monthly cash flow is $-17 ($-202/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (12.1% below list).
• Recommended offer: $142k (12.1% below list) — sets the bar for 1% rule.

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.
• Market conditions: 92 active listings in the ZIP; 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 $5k 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 77 days — a 6% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 32y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $162k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,385 (12.1% 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 77 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-27,288
• Equity at exit: $24,155

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-25,001
• Equity at exit: $14,007

Cash invested: $45,360 (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 32641

• Home prices YoY: -10.6%
• Active inventory: 92
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$850
• Tax from tax record: −$225 /mo · $2,696/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-17

Break-even live

Break-even rent $1,445

Max offer price $159,025

Occupancy floor 96%

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $162,000 Active 77 DOM
2. 2026-06-17
   days on market $162,000 Active 76 DOM
3. 2026-06-16
   remarks 405-char remark
4. 2026-06-16
   pricedays on market $162,000 Active 75 DOM
5. 2026-06-15
   days on market $166,500 Active 74 DOM
6. 2026-06-14
   days on market $166,500 Active 72 DOM
7. 2026-06-13
   days on market $166,500 Active 71 DOM
8. 2026-06-10
   days on market $166,500 Active 69 DOM
9. 2026-06-09
   days on market $166,500 Active 68 DOM
10. 2026-06-08
    days on market $166,500 Active 67 DOM
11. 2026-06-07
    days on market $166,500 Active 66 DOM
12. 2026-06-05
    days on market $166,500 Active 63 DOM
13. 2026-06-03
    days on market $166,500 Active 62 DOM
14. 2026-06-02
    days on market $166,500 Active 61 DOM
15. 2026-06-01
    days on market $166,500 Active 60 DOM
16. 2026-05-31
    days on market $166,500 Active 59 DOM
17. 2026-05-30
    days on market $166,500 Active 58 DOM
18. 2026-05-04
    price $166,500 218-char remark

    Show marketing remark (218 chars)

    (MAJOR PRICE REDUCTION April 4 2026 ) 5/2 large fenced yard. 3 Miles from Newnans Lake 3 miles From University Of Florida . Refrigerator and stove are as is. The Storage Shed does not transfer. it not included in sale

19. 2026-04-02
    listed $170,000 Active 218-char remark

    Show marketing remark (218 chars)

    (MAJOR PRICE REDUCTION April 4 2026 ) 5/2 large fenced yard. 3 Miles from Newnans Lake 3 miles From University Of Florida . Refrigerator and stove are as is. The Storage Shed does not transfer. it not included in sale

20. 2024-10-22
    historical $1,440
21. 2024-10-02
    price $1,440
22. 2024-09-18
    listed $1,575
23. 2024-09-07
    historical $1,575
24. 2024-07-22
    price $1,575
25. 2024-06-25
    listed $1,700
26. 2021-01-14
    soldstatus $80,000
27. 2021-01-04
    soldstatus $80,000 410-char remark

    Show marketing remark (410 chars)

    Booming growth area of Gainesville, this 5 bedroom 2 bath is perfect as rental income generator (previously rented at $1250/month). Zoned U3 there is flexible use for this property which is on a double lot. Recently remodeled with tiled floors through out and newer metal roof. Stainless steel appliances and new cabinets and countertops in kitchen. Large fenced in yard. This is a real estate investors dream.

28. 2020-07-06
    listed $91,500 410-char remark

    Show marketing remark (410 chars)

    Booming growth area of Gainesville, this 5 bedroom 2 bath is perfect as rental income generator (previously rented at $1250/month). Zoned U3 there is flexible use for this property which is on a double lot. Recently remodeled with tiled floors through out and newer metal roof. Stainless steel appliances and new cabinets and countertops in kitchen. Large fenced in yard. This is a real estate investors dream.

29. 2020-06-25
    historical
30. 2020-03-24
    listed $86,000
31. 2018-11-07
    historical
32. 2018-05-13
    listed $79,800
33. 2018-02-02
    soldstatus $43,000
34. 2012-02-01
    historical
35. 2011-10-05
    historical
36. 2011-02-05
    historical
37. 2011-01-25
    listed $45,000
38. 2010-08-12
    listed $60,000
39. 2010-02-05
    historical
40. 2009-12-03
    listed $69,000
41. 2009-09-03
    soldstatus $15,000
42. 2009-07-13
    listed $29,900
43. 2008-12-13
    listed $38,500
44. 2006-10-13
    soldstatus $75,000
45. 2006-10-13
    soldstatus $75,000
46. 2006-05-12
    listed $75,000
47. 1995-02-14
    soldstatus $14,950
48. 1995-02-14
    soldstatus $14,950
49. 1994-12-12
    listed $14,950
50. 1991-12-30
    soldstatus $10,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,696 · $225/mo
• Projected year-2 tax: $2,696 · $225/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,086
• − Mortgage interest: −$9,075
• − Property taxes: −$2,696
• − Insurance: −$810
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,713
• Taxable loss: −$2,940
• Est. tax savings @ 24.0%: +$706
• After-tax cash flow: $504/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
• City population: 188,348
• Population (ZIP): 15,082

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 25% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 2% Lithuanian 1% Hispanic 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 1%

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: ▼ -33.10%
• Current HPI: 278.4167
• Rent YoY: —
• Metro: —
• 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

+1565.0% since first listed

33 events — show timeline

• 2026-05-04 Price Changed $166,500 Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-22 Rental Removed $1,440 STELLARMLS
• 2024-10-02 Price Changed $1,440 STELLARMLS
• 2024-09-18 Listed for Rent $1,575 STELLARMLS
• 2024-09-07 Rental Removed $1,575 STELLARMLS
• 2024-07-22 Price Changed $1,575 STELLARMLS
• 2024-06-25 Listed for Rent $1,700 STELLARMLS
• 2021-01-14 Sold (Public Records) $80,000 Public Records
• 2021-01-04 Sold (MLS) $80,000 Stellar MLS as Distributed by MLS Grid
• 2020-07-06 Listed $91,500 Stellar MLS as Distributed by MLS Grid
• 2020-06-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-03-24 Listed $86,000 Stellar MLS as Distributed by MLS Grid
• 2018-11-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-05-13 Listed $79,800 Stellar MLS as Distributed by MLS Grid
• 2018-02-02 Sold (Public Records) $43,000 Public Records
• 2012-02-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-10-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-02-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-01-25 Listed $45,000 Stellar MLS as Distributed by MLS Grid
• 2010-08-12 Listed $60,000 Stellar MLS as Distributed by MLS Grid
• 2010-02-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-12-03 Listed $69,000 Stellar MLS as Distributed by MLS Grid
• 2009-09-03 Sold (MLS) $15,000 realMLS
• 2009-07-13 Listed $29,900 realMLS
• 2008-12-13 Listed $38,500 Stellar MLS as Distributed by MLS Grid
• 2006-10-13 Sold (Public Records) $75,000 Public Records
• 2006-10-13 Sold (MLS) $75,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-12 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 1995-02-14 Sold (Public Records) $14,950 Public Records
• 1995-02-14 Sold (MLS) $14,950 Stellar MLS as Distributed by MLS Grid
• 1994-12-12 Listed $14,950 Stellar MLS as Distributed by MLS Grid
• 1991-12-30 Sold (Public Records) $10,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,696 · +7.2% YoY. Source: county tax records.