4000 SW 23rd St Unit 4-303 · Gainesville, FL 32608

$195,900

4 bd · 4.0 ba · 1,177 sqft · Condo public records · 98 Days on market

Built 1999 $285/mo HOA · 14% 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 +10.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Countryside at the University, a beautifully updated 4-bedroom, 4-bath condo ideally located near the University of Florida, UF Health Shands Hospital, and major shopping areas. This freshly repainted and refreshed unit features no carpet throughout, creating a clean, modern, and low-maintenance living space. The spacious floor plan offers a comfortable living room that opens to a covered porch with a storage closet, perfect for relaxing or entertaining. Each bedroom includes its own private bathroom and walk-in closet, providing excellent privacy and functionality for roommates. The unit also comes partially furnished, making it move-in ready and ideal for owner occupant or tenants. Conveniently situated on multiple bus routes with easy access to UF and Shands, this property presents a fantastic opportunity for anyone attending UF—live in one room and rent the others—or for investors seeking a strong rental opportunity with a desirable 4-bedroom, 4-bath layout. Residents of Countryside at the University enjoy access to community amenities including a pool, fitness center, basketball court, and volleyball court, and internet is included in the monthly association fee for added value and convenience. This is an excellent opportunity to own a well-located, updated property in one of Gainesville’s most popular communities near UF.

Key facts

• Covered porch
• Partially furnished
• Updated condo

Tags

• UPDATED CONDO
• NO CARPET
• COVERED PORCH
• PRIVATE BATHROOM
• WALK-IN CLOSET
• PARTIALLY FURNISHED

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $196k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (9.9% below list).
• Meets the 1% rule at list price ($2k rent vs $196k).
• Recommended offer: $176k (9.9% 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 (+2.9%/yr); 594 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 39% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $6k 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 98 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,477 (9.9% 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 98 days. Have you received any prior offers? Is the seller open to a 10% 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: 1.03% ✓
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.29×
• Total profit: $-38,722
• Equity at exit: $29,209

10-year hold

• IRR: -13.3%
• Equity multiple: 0.22×
• Total profit: $-42,640
• Equity at exit: $16,938

Cash invested: $54,852 (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 32608

• Rents YoY: 2.9%
• Active inventory: 594
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,025 medium
• Mortgage (P&I): −$1,027
• Tax from tax record: −$315 /mo · $3,785/yr
• Insurance: −$82
• HOA: −$285
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-110

Break-even live

Break-even rent $2,164

Max offer price $176,477

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-55	+0% $-110	+5% $-165	+10% $-221
Rent	-10% $-270	-5% $-190	+0% $-110	+5% $-30	+10% $50
Rate	-1.0pp $-11	-0.5pp $-60	base $-110	+0.5pp $-161	+1.0pp $-212

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: $48,975
• Closing costs: $5,877
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4455 SW 34th St Gainesville, FL	1.0–3.0	1.0–3.0	1033	$2,090	$2.02	14d	28	0.92mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Likely covers: internetpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $195,900 Active 98 DOM
2. 2026-06-17
   days on market $195,900 Active 97 DOM
3. 2026-06-16
   days on market $195,900 Active 96 DOM
4. 2026-06-15
   days on market $195,900 Active 95 DOM
5. 2026-06-14
   days on market $195,900 Active 93 DOM
6. 2026-06-13
   days on market $195,900 Active 92 DOM
7. 2026-06-10
   days on market $195,900 Active 90 DOM
8. 2026-06-09
   days on market $195,900 Active 89 DOM
9. 2026-06-08
   days on market $195,900 Active 88 DOM
10. 2026-06-07
    days on market $195,900 Active 87 DOM
11. 2026-06-05
    days on market $195,900 Active 84 DOM
12. 2026-06-03
    days on market $195,900 Active 83 DOM
13. 2026-06-02
    days on market $195,900 Active 82 DOM
14. 2026-06-01
    days on market $195,900 Active 81 DOM
15. 2026-05-31
    days on market $195,900 Active 80 DOM
16. 2026-05-30
    days on market $195,900 Active 79 DOM
17. 2026-04-19
    historical $1,995
18. 2026-03-12
    listed $195,900 Active 1378-char remark

    Show marketing remark (1378 chars)

    Welcome to Countryside at the University, a beautifully updated 4-bedroom, 4-bath condo ideally located near the University of Florida, UF Health Shands Hospital, and major shopping areas. This freshly repainted and refreshed unit features no carpet throughout, creating a clean, modern, and low-maintenance living space. The spacious floor plan offers a comfortable living room that opens to a covered porch with a storage closet, perfect for relaxing or entertaining. Each bedroom includes its own private bathroom and walk-in closet, providing excellent privacy and functionality for roommates. The unit also comes partially furnished, making it move-in ready and ideal for owner occupant or tenants. Conveniently situated on multiple bus routes with easy access to UF and Shands, this property presents a fantastic opportunity for anyone attending UF—live in one room and rent the others—or for investors seeking a strong rental opportunity with a desirable 4-bedroom, 4-bath layout. Residents of Countryside at the University enjoy access to community amenities including a pool, fitness center, basketball court, and volleyball court, and internet is included in the monthly association fee for added value and convenience. This is an excellent opportunity to own a well-located, updated property in one of Gainesville’s most popular communities near UF.

19. 2026-02-27
    listed $1,995
20. 2026-02-01
    historical
21. 2026-01-03
    historical $500
22. 2025-11-13
    price $500
23. 2025-09-11
    price $174,900
24. 2025-09-01
    listed $179,900 Active
25. 2025-08-13
    listed $525
26. 2024-09-12
    historical $550
27. 2024-08-14
    listed $550
28. 2024-05-24
    historical $550
29. 2024-04-23
    listed $550
30. 2024-03-14
    soldstatus $196,000
31. 2024-03-08
    soldstatus $196,000 Closed
32. 2024-02-17
    status Pending
33. 2024-02-15
    listed $196,000 Active
34. 2016-02-09
    soldstatus $85,000
35. 2008-02-25
    historical
36. 2006-07-26
    soldstatus $185,000
37. 2006-07-21
    soldstatus $185,000
38. 2006-05-05
    listed $189,990
39. 2005-07-20
    listed $187,500
40. 2004-06-11
    soldstatus $145,000

ⓘ 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: $3,785 · $315/mo
• Projected year-2 tax: $3,785 · $315/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $24,294
• − Mortgage interest: −$10,973
• − Property taxes: −$3,785
• − Insurance: −$980
• − Repairs & maintenance: −$1,944
• − Management: −$1,944
• − HOA: −$3,420
• − Depreciation: −$5,699
• Taxable loss: −$4,449
• Est. tax savings @ 24.0%: +$1,068
• After-tax cash flow: $-252/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): 54,566
• Household income: $61,588
• Rent vs Own: 58.7% rent · 41.3% own
• Severe rent burden: 4709.0

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 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 16% Black 13% Asian 12% Two or more races 11%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -150.91%
• Current HPI: 253.0629
• Rent YoY: ▲ 2.89%
• 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

-98.6% since first listed

24 events — show timeline

• 2026-04-19 Rental Removed $1,995 STELLARMLS
• 2026-03-12 Listed $195,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed for Rent $1,995 STELLARMLS
• 2026-02-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-03 Rental Removed $500 APPFOLIO
• 2025-11-13 Price Changed $500 APPFOLIO
• 2025-09-11 Price Changed $174,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-01 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Listed for Rent $525 APPFOLIO
• 2024-09-12 Rental Removed $550 APPFOLIO
• 2024-08-14 Listed for Rent $550 APPFOLIO
• 2024-05-24 Rental Removed $550 APPFOLIO
• 2024-04-23 Listed for Rent $550 APPFOLIO
• 2024-03-14 Sold (Public Records) $196,000 Public Records
• 2024-03-08 Sold (MLS) $196,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-02-15 Listed $196,000 Stellar MLS as Distributed by MLS Grid
• 2016-02-09 Sold (Public Records) $85,000 Public Records
• 2008-02-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-07-26 Sold (Public Records) $185,000 Public Records
• 2006-07-21 Sold (MLS) $185,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-05 Listed $189,990 Stellar MLS as Distributed by MLS Grid
• 2005-07-20 Listed $187,500 Stellar MLS as Distributed by MLS Grid
• 2004-06-11 Sold (Public Records) $145,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $3,785 · +8.1% YoY. Source: county tax records.