4109 NW 43rd Ter #69

Gainesville, FL 32606

$199,000D

3 bd · 3.0 ba · 1,176 sqft · Built 1974 · Townhouse · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,949/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$235
• HOA: −$335
• Vac / Maint / Mgmt: −$409
• Net cashflow: $-74/mo
• Annual: $-887/yr
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• 1% rule: 0.98%
• Cash to close: $55,720

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $199k.
• At list price, monthly cash flow is $-74 ($-887/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (2.1% below list).
• It's been on market 16 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (6.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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: William S. Talbot Elem School (math 58% / reading 65%, grade B, #634 of 2,144 statewide, top 30%, 631 students, 38% FRL); Fort Clarke Middle School (math 50% / reading 54%, grade C+, #217 of 571 statewide, top 40%, 961 students, 53% FRL); Gainesville High School (math 48% / reading 57%, grade C-, #154 of 667 statewide, top 24%, 1,873 students, 47% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 143 active listings in the ZIP; solid renter incomes; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $145k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• 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?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.