851 SE 23rd St · Gainesville, FL 32641

$79,900

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 20 Days on market

Built 1932 10,019 sqft lot

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Why this score? — see what drove the C+ 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

Key facts

• Large backyard
• No hoa
• Corner lot

Tags

• NO HOA
• CORNER LOT
• LARGE BACKYARD
• IMMEDIATE INCOME POTENTIAL

Property features AI

Finance

• Other: Property type: Residential, single family residence; Zoning: RSF3; Lot size approximately 0.23 acres
• Financial info: No lease restrictions reported
• HOA & community: No HOA association indicated; Development: Woodland Park

Exterior

• Parking: Asphalt road access
• Utilities: Public water; Public sewer; Cable available; Broadband/High-speed internet available; Water connected; Sewer connected
• Home design: Single family residence; One story; Faces west
• Construction: Built with vinyl siding and frame construction; Other construction materials; Metal roof; Other foundation
• Exterior features: Corner lot; Other exterior features

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Solid wood cabinets; Thermostat
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $80k).
• Recommended offer: $79k (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.
• Zoned schools: Joseph Williams Elementary School (math 40% / reading 42%, grade F, #1,454 of 2,144 statewide, top 69%, 469 students, 69% FRL); Abraham Lincoln Middle School (math 49% / reading 55%, grade C+, #217 of 571 statewide, top 40%, 709 students, 55% FRL); Eastside High School (math 29% / reading 56%, grade F, #264 of 667 statewide, top 41%, 1,220 students, 56% FRL).
• 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 $552 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• GRM: 6.8

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-2,685
• Equity at exit: $11,913

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $11,023
• Equity at exit: $6,908

Cash invested: $22,372 (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 32641

• Home prices YoY: -10.6%
• Active inventory: 92
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $160

Break-even live

Break-even rent $778

Max offer price $79,900

Occupancy floor 79%

Sensitivity live

Price	-10% $206	-5% $183	+0% $160	+5% $138	+10% $115
Rent	-10% $83	-5% $122	+0% $160	+5% $199	+10% $238
Rate	-1.0pp $201	-0.5pp $181	base $160	+0.5pp $140	+1.0pp $119

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-14
   status Pending
2. 2026-05-09
   status Active
3. 2026-05-06
   status Pending
4. 2026-04-29
   price $79,900
5. 2026-04-21
   listed $87,500 Active
6. 2025-12-31
   historical
7. 2025-08-29
   price $115,000
8. 2025-04-13
   listed $125,000 Active
9. 2022-06-03
   soldstatus $90,000
10. 2022-05-24
    soldstatus $90,000 Closed 127-char remark

    Show marketing remark (127 chars)

    Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

11. 2022-04-25
    status Pending 127-char remark

    Show marketing remark (127 chars)

    Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

12. 2022-04-20
    status Active 127-char remark

    Show marketing remark (127 chars)

    Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

13. 2022-04-13
    status Pending 127-char remark

    Show marketing remark (127 chars)

    Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

14. 2021-12-20
    listed $94,900 Active 127-char remark

    Show marketing remark (127 chars)

    Investor alert-Tenant in place and can remain for new owner. Large fenced yard, Income producing and under 100k in Gainesville.

15. 2021-10-04
    historical
16. 2021-05-18
    listed $94,900 Active
17. 2006-12-21
    soldstatus $79,900
18. 2006-10-06
    listed $79,900
19. 2006-07-10
    listed $37,270
20. 2002-09-06
    soldstatus $24,000
21. 2001-10-04
    listed $30,000
22. 1995-12-28
    soldstatus $16,000
23. 1985-06-01
    soldstatus $6,000

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $1,945 · $162/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 4/10 Moderate
• 🌡 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: $11,767
• − Mortgage interest: −$4,476
• − Property taxes: −$1,945
• − Insurance: −$400
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$2,324
• Taxable income: $740
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $1,746/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

+1231.7% since first listed

23 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $79,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Listed $87,500 Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-29 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-13 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-03 Sold (Public Records) $90,000 Public Records
• 2022-05-24 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2022-04-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-04-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-12-20 Listed $94,900 Stellar MLS as Distributed by MLS Grid
• 2021-10-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-05-18 Listed $94,900 Stellar MLS as Distributed by MLS Grid
• 2006-12-21 Sold (MLS) $79,900 Stellar MLS as Distributed by MLS Grid
• 2006-10-06 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2006-07-10 Listed $37,270 Stellar MLS as Distributed by MLS Grid
• 2002-09-06 Sold (MLS) $24,000 Stellar MLS as Distributed by MLS Grid
• 2001-10-04 Listed $30,000 Stellar MLS as Distributed by MLS Grid
• 1995-12-28 Sold (Public Records) $16,000 Public Records
• 1985-06-01 Sold (Public Records) $6,000 Public Records

Property tax history

+20.0%/yr

Latest (2025): $1,945 · +5.7% YoY. Source: county tax records.