603 SW 75th St #104 · Gainesville, FL 32607

$74,900

2 bd · 2.0 ba · 1,292 sqft · Condo public records · 23 Days on market

Built 1973 $392/mo HOA · 24% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. If you’ve been searching for the best value in Gainesville, this is the one. You can keep your monthly expenses incredibly low without sacrificing an ounce of space. This massive 2-bedroom, 2-bathroom condo uniquely blends comfort and convenience, featuring both a private courtyard and a spacious second-story patio. The layout is designed for easy living, with two oversized bedrooms and two full bathrooms that make it an ideal primary residence or a high-yield rental property. Access is easy, thanks to seamless entry from the North parking lot to a secure rear entrance for added peace of mind. You can move in with total confidence knowing the in

Key facts

• $392 HOA
• Community pool
• Built 1973

Property features AI

Finance

• Other: Development: Sparrow
• Financial info: Total annual fees $4,704; No lease restrictions reported
• HOA & community: Monthly condo fee of $392 (includes water); Association amenities include fitness center and pool; Association name: Gainesville Business Services/Cynthia Long; Pets not allowed

Exterior

• Parking: Open parking
• Utilities: Public water; Public sewer; Cable available; Broadband/High-speed internet available; Electricity connected; Water connected
• Home design: Condominium; Two-story building; Faces south; First-floor unit
• Construction: Wood siding and other construction materials; Shingle roof; Slab foundation; Built with mixed/other materials
• Exterior features: Other exterior features

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $75k.

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 $75k).
• Recommended offer: $74k (1.5% 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 flat; 245 active listings in the ZIP; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 43% of the median local income ($46k/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 $518 of loan paydown is wiped out by about $2k 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 + 0.6% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $42k; list at $75k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 2.20% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.49%
• DSCR: 2.05
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.49×
• Total profit: $10,378
• Equity at exit: $11,168

10-year hold

• IRR: 19.1%
• Equity multiple: 2.36×
• Total profit: $28,533
• Equity at exit: $6,476

Cash invested: $20,972 (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 32607

• Rents YoY: 0.6%
• Active inventory: 245
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,649 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$31
• HOA: −$392
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $411

Break-even live

Break-even rent $1,130

Max offer price $74,900

Occupancy floor 70%

Sensitivity live

Price	-10% $453	-5% $432	+0% $411	+5% $389	+10% $368
Rent	-10% $280	-5% $345	+0% $411	+5% $476	+10% $541
Rate	-1.0pp $448	-0.5pp $430	base $411	+0.5pp $391	+1.0pp $371

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $392 · $4,704/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-12
   status Pending
2. 2026-04-30
   status Active
3. 2026-04-17
   status Pending
4. 2026-04-06
   listed $74,900 Active
5. 2019-02-04
   soldstatus $42,000
6. 2008-09-02
   soldstatus $85,500
7. 2003-05-30
   soldstatus $64,300
8. 1999-04-01
   soldstatus $41,500
9. 1997-07-10
   soldstatus $34,000
10. 1996-07-18
    soldstatus $33,000
11. 1981-08-01
    soldstatus $36,900
12. 1981-08-01
    soldstatus $45,500
13. 1980-10-01
    soldstatus $40,000

ⓘ 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: $918 · $76/mo
• Projected year-2 tax: $918 · $76/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $19,793
• − Mortgage interest: −$4,196
• − Property taxes: −$918
• − Insurance: −$374
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − HOA: −$4,704
• − Depreciation: −$2,179
• Taxable income: $4,255
• Est. tax owed @ 24.0%: −$1,021
• After-tax cash flow: $3,906/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): 35,720
• Household income: $45,987
• Rent vs Own: 66.0% rent · 34.0% own
• Severe rent burden: 3418.0

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 0.65)
• Race & ethnicity: White 52% Black 22% Hispanic / Latino 17% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 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: ▼ -177.86%
• Current HPI: 270.183
• Rent YoY: ▲ 0.60%
• 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

+87.2% since first listed

13 events — show timeline

• 2026-05-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2019-02-04 Sold (Public Records) $42,000 Public Records
• 2008-09-02 Sold (Public Records) $85,500 Public Records
• 2003-05-30 Sold (Public Records) $64,300 Public Records
• 1999-04-01 Sold (Public Records) $41,500 Public Records
• 1997-07-10 Sold (Public Records) $34,000 Public Records
• 1996-07-18 Sold (Public Records) $33,000 Public Records
• 1981-08-01 Sold (Public Records) $45,500 Public Records
• 1981-08-01 Sold (Public Records) $36,900 Public Records
• 1980-10-01 Sold (Public Records) $40,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $918 · +6.9% YoY. Source: county tax records.