4506 SW 46th Dr · Gainesville, FL 32608

$154,900

2 bd · 2.0 ba · 892 sqft · SingleFamily public records · 174 Days on market

Built 1985 2,614 sqft lot $230/mo HOA · 11% of rent

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Why this score? — see what drove the B- 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 +26.5/30.0
• DSCR +9.1/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely duplex is a dream come true. It`s neat and compact without wasted space and no stairs to climb. It is very convenient and near I-75, Butler Plaza, UF and Shands off Archer Road. Park at your front door. It`s in a quiet scenic condo complex with other amenities! UF folks have graduated and are leaving town! 2 Units.

Key facts

• Solid wood cabinetry
• Private fenced patio
• End unit

Tags

• END UNIT
• SOLID WOOD CABINETRY
• STAINLESS STEEL APPLIANCES
• PRIVATE FENCED PATIO
• CLOSE TO CELEBRATION POINTE
• CLOSE TO UNIVERSITY OF FLORIDA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.

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: Rents rising (+2.9%/yr); 604 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 39% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $118k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 6.4

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $970
• Equity at exit: $23,096

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $34,048
• Equity at exit: $13,393

Cash invested: $43,372 (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: 604
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,003 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$64 /mo · $769/yr
• Insurance: −$65
• HOA: −$230
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $411

Break-even live

Break-even rent $1,482

Max offer price $154,900

Occupancy floor 74%

Sensitivity live

Price	-10% $499	-5% $455	+0% $411	+5% $368	+10% $324
Rent	-10% $253	-5% $332	+0% $411	+5% $490	+10% $570
Rate	-1.0pp $489	-0.5pp $451	base $411	+0.5pp $371	+1.0pp $330

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4781 SW 36th Rd Gainesville, FL	1.0–3.0	1.0–2.0	1137	$2,340	$2.06	14d	61	0.53mi
6499 SW 44th Way Gainesville, FL	1.0–3.0	1.0–3.5	900	$2,162	$2.40	14d	13	1.19mi
4455 SW 34th St Gainesville, FL	1.0–3.0	1.0–3.0	1033	$1,830	$1.77	14d	28	1.41mi

HOA detail

• Monthly dues: $230 · $2,760/yr

Listing history 9 events

1. 2026-04-23
   status Pending
2. 2026-03-20
   price $154,900
3. 2026-01-15
   price $159,900
4. 2025-10-31
   listed $164,900 Active
5. 2008-02-21
   soldstatus $117,900
6. 2008-02-15
   soldstatus $117,900 328-char remark

   Show marketing remark (328 chars)

   This lovely duplex is a dream come true. It`s neat and compact without wasted space and no stairs to climb. It is very convenient and near I-75, Butler Plaza, UF and Shands off Archer Road. Park at your front door. It`s in a quiet scenic condo complex with other amenities! UF folks have graduated and are leaving town! 2 Units.

7. 2007-12-10
   listed $117,900 328-char remark

   Show marketing remark (328 chars)

   This lovely duplex is a dream come true. It`s neat and compact without wasted space and no stairs to climb. It is very convenient and near I-75, Butler Plaza, UF and Shands off Archer Road. Park at your front door. It`s in a quiet scenic condo complex with other amenities! UF folks have graduated and are leaving town! 2 Units.

8. 1990-05-24
   soldstatus $39,200
9. 1986-11-01
   soldstatus $40,200

ⓘ 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: $769 · $64/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$516/yr (+$43/mo · 67.1%)

ⓘ 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 ≥108°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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,035
• − Mortgage interest: −$8,677
• − Property taxes: −$769
• − Insurance: −$774
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − HOA: −$2,760
• − Depreciation: −$4,506
• Taxable income: $2,703
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $4,288/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

• 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

+285.3% since first listed

9 events — show timeline

• 2026-04-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $154,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-15 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-31 Listed $164,900 Stellar MLS as Distributed by MLS Grid
• 2008-02-21 Sold (Public Records) $117,900 Public Records
• 2008-02-15 Sold (MLS) $117,900 Stellar MLS as Distributed by MLS Grid
• 2007-12-10 Listed $117,900 Stellar MLS as Distributed by MLS Grid
• 1990-05-24 Sold (Public Records) $39,200 Public Records
• 1986-11-01 Sold (Public Records) $40,200 Public Records

Property tax history

+9.3%/yr

Latest (2025): $769 · +6.9% YoY. Source: county tax records.