703 SW 75th St #106 · Gainesville, FL 32607

$74,700

2 bd · 2.0 ba · 1,292 sqft · Condo public records · 71 Days on market

Built 1973 $349/mo HOA · 21% 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 MLS

Great opportunity for investors or owner-occupants! This remodeled 2-bedroom, 2-bath condo offers comfortable living with thoughtful updates throughout. A standout feature is that each bedroom has its own private enclosed balcony, providing additional versatile space perfect for relaxing, a home office, or enjoying natural light year-round. The unit has been updated and well maintained, making it a low-maintenance option whether you are looking for a primary residence or a solid rental property. Conveniently located near shopping, dining, major roadways, and the University of Florida, an area known for strong housing demand. A great opportunity to own a move-in ready condo with excellent rental potential in Gainesville.

Key facts

• Move-in ready condo
• $349 HOA
• Community pool

Tags

• PRIVATE ENCLOSED BALCONY
• MOVE-IN READY CONDO
• EXCELLENT RENTAL POTENTIAL

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 $395 ($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: $70k (6.0% 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 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 $516 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 71 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $75k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,218 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 2.21% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• 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: 11.9%
• Equity multiple: 1.45×
• Total profit: $9,455
• Equity at exit: $11,138

10-year hold

• IRR: 18.0%
• Equity multiple: 2.27×
• Total profit: $26,528
• Equity at exit: $6,459

Cash invested: $20,916 (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): −$392
• Tax from tax record: −$136 /mo · $1,629/yr
• Insurance: −$31
• HOA: −$349
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $395

Break-even live

Break-even rent $1,149

Max offer price $74,700

Occupancy floor 71%

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: $18,675
• Closing costs: $2,241
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-12
   price $74,700 729-char remark

   Show marketing remark (729 chars)

   Great opportunity for investors or owner-occupants! This remodeled 2-bedroom, 2-bath condo offers comfortable living with thoughtful updates throughout. A standout feature is that each bedroom has its own private enclosed balcony, providing additional versatile space perfect for relaxing, a home office, or enjoying natural light year-round. The unit has been updated and well maintained, making it a low-maintenance option whether you are looking for a primary residence or a solid rental property. Conveniently located near shopping, dining, major roadways, and the University of Florida, an area known for strong housing demand. A great opportunity to own a move-in ready condo with excellent rental potential in Gainesville.

2. 2026-03-10
   listed $89,900 Active 729-char remark

   Show marketing remark (729 chars)

   Great opportunity for investors or owner-occupants! This remodeled 2-bedroom, 2-bath condo offers comfortable living with thoughtful updates throughout. A standout feature is that each bedroom has its own private enclosed balcony, providing additional versatile space perfect for relaxing, a home office, or enjoying natural light year-round. The unit has been updated and well maintained, making it a low-maintenance option whether you are looking for a primary residence or a solid rental property. Conveniently located near shopping, dining, major roadways, and the University of Florida, an area known for strong housing demand. A great opportunity to own a move-in ready condo with excellent rental potential in Gainesville.

3. 2023-06-16
   historical
4. 2020-01-21
   soldstatus $48,000
5. 2020-01-17
   soldstatus $48,000 371-char remark

   Show marketing remark (371 chars)

   Clean condo ready for move in close to shopping and North Florida regional hospital. Also close to I-75 and area local mall. Great space and private screened porches upstairs and down stairs. tile in bathrooms and kitchen with new carpet downstairs. Very convenient location and on the local bus route as well. One of the cleanest units in Sparrow. Easy to see. 5+ Units.

6. 2019-11-18
   listed $54,900 371-char remark

   Show marketing remark (371 chars)

   Clean condo ready for move in close to shopping and North Florida regional hospital. Also close to I-75 and area local mall. Great space and private screened porches upstairs and down stairs. tile in bathrooms and kitchen with new carpet downstairs. Very convenient location and on the local bus route as well. One of the cleanest units in Sparrow. Easy to see. 5+ Units.

7. 2006-02-01
   soldstatus $92,500
8. 2003-02-14
   soldstatus $38,000
9. 2003-02-14
   soldstatus $60,000
10. 1984-07-01
    soldstatus $45,900
11. 1981-03-01
    soldstatus $45,000

ⓘ 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: $1,629 · $136/mo
• Projected year-2 tax: $1,629 · $136/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 9/10 Extreme 7 d/yr ≥108°F today · 23 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: $19,793
• − Mortgage interest: −$4,184
• − Property taxes: −$1,629
• − Insurance: −$374
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − HOA: −$4,188
• − Depreciation: −$2,173
• Taxable income: $4,078
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $3,766/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

+66.0% since first listed

11 events — show timeline

• 2026-04-12 Price Changed $74,700 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2023-06-16 Rental Removed — STELLARMLS
• 2020-01-21 Sold (Public Records) $48,000 Public Records
• 2020-01-17 Sold (MLS) $48,000 Stellar MLS as Distributed by MLS Grid
• 2019-11-18 Listed $54,900 Stellar MLS as Distributed by MLS Grid
• 2006-02-01 Sold (Public Records) $92,500 Public Records
• 2003-02-14 Sold (Public Records) $60,000 Public Records
• 2003-02-14 Sold (Public Records) $38,000 Public Records
• 1984-07-01 Sold (Public Records) $45,900 Public Records
• 1981-03-01 Sold (Public Records) $45,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,629 · +14.8% YoY. Source: county tax records.