109 SE 16th Ave Unit Q301 · Gainesville, FL 32601

$119,000

2 bd · 2.0 ba · 874 sqft · Condo public records · 458 Days on market

Built 1985 $275/mo HOA · 21% of rent

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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 +9.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently refreshed! 2 bed/2 bath condo close to the University of Florida, UF Health Shands Hospital, the VA Hospital, the UF Veterinary College, and Downtown Gainesville. Conveniently located on a UF bus line, making it easy to get to campus and nearby hospitals. This condo has a strong rental history and was recently rented for up to $1,100/month. Updates include new LVP flooring in the main living areas and bathrooms, plus brand-new carpet in the bedrooms. Each bedroom has its own private bathroom and spacious closet. All appliances convey, including washer and dryer, with a brand-new dishwasher just installed. Community amenities include two pools and a fitness center. Priced to sell. Do not miss this opportunity!

Key facts

• Fitness center
• Near uf bus line
• Near va hospital

Tags

• TOP FLOOR
• COMMUNITY HAS 2 POOLS
• FITNESS CENTER
• NEAR UF BUS LINE
• CLOSE TO UF CAMPUS
• NEAR VA HOSPITAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (13.6% below list).
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $103k (13.6% 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.
• Market conditions: Rents rising fast (+5.2%/yr); 138 active listings in the ZIP; lower-income renter base — watch delinquency; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• At $1,321/mo this rent would consume 52% of the median local household income ($30k/yr) (locally 3429% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 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 458 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 9614% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $58k; list at $119k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $102,761 (13.6% 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 458 days. Have you received any prior offers? Is the seller open to a 14% 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: 1.11% ✓
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.24% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.34×
• Total profit: $-21,881
• Equity at exit: $17,743

10-year hold

• IRR: -5.1%
• Equity multiple: 0.62×
• Total profit: $-12,648
• Equity at exit: $10,289

Cash invested: $33,320 (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 32601

• Home prices YoY: -27.7%
• Rents YoY: 5.2%
• Active inventory: 138
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$50
• HOA: −$275
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-92

Break-even live

Break-even rent $1,438

Max offer price $102,761

Occupancy floor —

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $119,000 Active 458 DOM
2. 2026-06-17
   days on market $119,000 Active 457 DOM
3. 2026-06-16
   days on market $119,000 Active 456 DOM
4. 2026-06-15
   days on market $119,000 Active 455 DOM
5. 2026-06-14
   days on market $119,000 Active 453 DOM
6. 2026-06-13
   days on market $119,000 Active 452 DOM
7. 2026-06-10
   days on market $119,000 Active 450 DOM
8. 2026-06-09
   days on market $119,000 Active 449 DOM
9. 2026-06-08
   days on market $119,000 Active 448 DOM
10. 2026-06-07
    days on market $119,000 Active 447 DOM
11. 2026-06-05
    days on market $119,000 Active 444 DOM
12. 2026-06-03
    days on market $119,000 Active 443 DOM
13. 2026-06-02
    days on market $119,000 Active 442 DOM
14. 2026-06-01
    days on market $119,000 Active 441 DOM
15. 2026-05-31
    days on market $119,000 Active 440 DOM
16. 2026-05-30
    days on market $119,000 Active 439 DOM
17. 2026-04-06
    historical $1,225
18. 2025-10-08
    listed $1,225
19. 2025-04-26
    price $119,000 727-char remark

    Show marketing remark (727 chars)

    Recently refreshed! 2 bed/2 bath condo close to the University of Florida, UF Health Shands Hospital, the VA Hospital, the UF Veterinary College, and Downtown Gainesville. Conveniently located on a UF bus line, making it easy to get to campus and nearby hospitals. This condo has a strong rental history and was recently rented for up to $1,100/month. Updates include new LVP flooring in the main living areas and bathrooms, plus brand-new carpet in the bedrooms. Each bedroom has its own private bathroom and spacious closet. All appliances convey, including washer and dryer, with a brand-new dishwasher just installed. Community amenities include two pools and a fitness center. Priced to sell. Do not miss this opportunity!

20. 2025-03-17
    listed $124,900 Active 727-char remark

    Show marketing remark (727 chars)

    Recently refreshed! 2 bed/2 bath condo close to the University of Florida, UF Health Shands Hospital, the VA Hospital, the UF Veterinary College, and Downtown Gainesville. Conveniently located on a UF bus line, making it easy to get to campus and nearby hospitals. This condo has a strong rental history and was recently rented for up to $1,100/month. Updates include new LVP flooring in the main living areas and bathrooms, plus brand-new carpet in the bedrooms. Each bedroom has its own private bathroom and spacious closet. All appliances convey, including washer and dryer, with a brand-new dishwasher just installed. Community amenities include two pools and a fitness center. Priced to sell. Do not miss this opportunity!

21. 1986-10-01
    soldstatus $57,900

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/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: $15,857
• − Mortgage interest: −$6,666
• − Property taxes: −$2,246
• − Insurance: −$595
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − HOA: −$3,300
• − Depreciation: −$3,462
• Taxable loss: −$2,949
• Est. tax savings @ 24.0%: +$708
• After-tax cash flow: $-395/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): 23,180
• Household income: $30,352
• Rent vs Own: 76.0% rent · 24.0% own
• Severe rent burden: 3429.0

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 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 13% Two or more races 12% Black 11% Asian 6%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Slovak 3% Scotch-Irish 2%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% German/W. Germanic 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: ▼ -125.81%
• Current HPI: 327.9985
• Rent YoY: ▲ 5.24%
• 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

-97.9% since first listed

5 events — show timeline

• 2026-04-06 Rental Removed $1,225 STELLARMLS
• 2025-10-08 Listed for Rent $1,225 STELLARMLS
• 2025-04-26 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-17 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 1986-10-01 Sold (Public Records) $57,900 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,246 · +5.9% YoY. Source: county tax records.