2735 SW 35th Pl #1604 · Gainesville, FL 32608

$139,900

2 bd · 3.0 ba · 1,088 sqft · Condo public records · 99 Days on market

Built 1987 $335/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 +9.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Dream place for this newly upgraded 2 bedroom/2.5 bathroom townhouse in Casablanca West! Less than a mile away from UF, UF Health, the VA hospital and shopping! Newly installed vinyl flooring in 2026 and fresh painting throughout the house! First floor features a large living room, dining area, open kitchen with dishwasher, washer/dryer closet, one half bathroom. French doors in the living room lead to back yard that features a screened-in balcony for relaxing meals outside. There are two bedrooms upstairs equipped with Luxury vinyl plank, each with its own full bathroom. AC was replaced in 2018. Monthly association dues include water, trash services, and exterior insurance for the building, and the community pool. Great location close to shopping, restaurants and I-75. Also, Direct RTS bus route to UF. Don't miss out on this move in ready home!

Key facts

• Fresh painting
• Large living room
• Direct rts bus route

Tags

• NEWLY INSTALLED VINYL FLOORING
• FRESH PAINTING
• LARGE LIVING ROOM
• OPEN KITCHEN
• SCREENED-IN BALCONY
• DIRECT RTS BUS ROUTE

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (13.0% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $122k (13.0% 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 31% 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 $967 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 99 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $140k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $121,748 (13.0% 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 99 days. Have you received any prior offers? Is the seller open to a 13% 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: 1.15% ✓
• Cap rate: 5.41%
• Cash-on-cash: -3.15%
• DSCR: 0.86
• GRM: 7.2

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-29,115
• Equity at exit: $20,860

10-year hold

• IRR: -14.9%
• Equity multiple: 0.15×
• Total profit: $-33,383
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,616 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$252 /mo · $3,026/yr
• Insurance: −$58
• HOA: −$335
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-103

Break-even live

Break-even rent $1,746

Max offer price $121,748

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: $34,975
• Closing costs: $4,197
• 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	$1,830	$1.77	13d	28	0.63mi

HOA detail condo

• Monthly dues: $335 · $4,020/yr
• Likely covers: watertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   price $139,900 Active 99 DOM
2. 2026-06-18
   days on market $144,900 Active 99 DOM
3. 2026-06-17
   days on market $144,900 Active 98 DOM
4. 2026-06-16
   days on market $144,900 Active 97 DOM
5. 2026-06-15
   days on market $144,900 Active 96 DOM
6. 2026-06-14
   days on market $144,900 Active 94 DOM
7. 2026-06-13
   days on market $144,900 Active 93 DOM
8. 2026-06-10
   days on market $144,900 Active 91 DOM
9. 2026-06-09
   days on market $144,900 Active 90 DOM
10. 2026-06-08
    days on market $144,900 Active 89 DOM
11. 2026-06-07
    days on market $144,900 Active 88 DOM
12. 2026-06-05
    days on market $144,900 Active 85 DOM
13. 2026-06-03
    days on market $144,900 Active 84 DOM
14. 2026-06-02
    days on market $144,900 Active 83 DOM
15. 2026-06-01
    days on market $144,900 Active 82 DOM
16. 2026-05-31
    days on market $144,900 Active 81 DOM
17. 2026-05-30
    days on market $144,900 Active 80 DOM
18. 2026-04-30
    price $144,900 859-char remark

    Show marketing remark (859 chars)

    Dream place for this newly upgraded 2 bedroom/2.5 bathroom townhouse in Casablanca West! Less than a mile away from UF, UF Health, the VA hospital and shopping! Newly installed vinyl flooring in 2026 and fresh painting throughout the house! First floor features a large living room, dining area, open kitchen with dishwasher, washer/dryer closet, one half bathroom. French doors in the living room lead to back yard that features a screened-in balcony for relaxing meals outside. There are two bedrooms upstairs equipped with Luxury vinyl plank, each with its own full bathroom. AC was replaced in 2018. Monthly association dues include water, trash services, and exterior insurance for the building, and the community pool. Great location close to shopping, restaurants and I-75. Also, Direct RTS bus route to UF. Don't miss out on this move in ready home!

19. 2026-03-11
    listed $149,900 Active 859-char remark

    Show marketing remark (859 chars)

    Dream place for this newly upgraded 2 bedroom/2.5 bathroom townhouse in Casablanca West! Less than a mile away from UF, UF Health, the VA hospital and shopping! Newly installed vinyl flooring in 2026 and fresh painting throughout the house! First floor features a large living room, dining area, open kitchen with dishwasher, washer/dryer closet, one half bathroom. French doors in the living room lead to back yard that features a screened-in balcony for relaxing meals outside. There are two bedrooms upstairs equipped with Luxury vinyl plank, each with its own full bathroom. AC was replaced in 2018. Monthly association dues include water, trash services, and exterior insurance for the building, and the community pool. Great location close to shopping, restaurants and I-75. Also, Direct RTS bus route to UF. Don't miss out on this move in ready home!

20. 2018-04-03
    soldstatus $83,000
21. 2018-03-30
    soldstatus $83,000 325-char remark

    Show marketing remark (325 chars)

    2 Bed/2.5 Bath Townhome in Casablanca West! Downstairs has a Kitchen, Half Bathroom For Guests, and Sliding Glass Doors that Leads To A Porch. Upstairs Has 2 Master Bathrooms, Each with Their Own Full Bathrooms. Condo Has Concrete Block Construction and is Located On a Road With Great Bus Service to UF and Shands! 5+ Units.

22. 2018-02-08
    listed $85,000 325-char remark

    Show marketing remark (325 chars)

    2 Bed/2.5 Bath Townhome in Casablanca West! Downstairs has a Kitchen, Half Bathroom For Guests, and Sliding Glass Doors that Leads To A Porch. Upstairs Has 2 Master Bathrooms, Each with Their Own Full Bathrooms. Condo Has Concrete Block Construction and is Located On a Road With Great Bus Service to UF and Shands! 5+ Units.

23. 2013-03-26
    soldstatus $55,000
24. 2013-03-26
    soldstatus $55,000
25. 2013-02-04
    listed $64,900
26. 1991-12-27
    soldstatus $40,500
27. 1987-10-01
    soldstatus $47,500

ⓘ 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: $3,026 · $252/mo
• Projected year-2 tax: $3,026 · $252/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: $19,387
• − Mortgage interest: −$7,837
• − Property taxes: −$3,026
• − Insurance: −$700
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − HOA: −$4,020
• − Depreciation: −$4,070
• Taxable loss: −$3,366
• Est. tax savings @ 24.0%: +$808
• After-tax cash flow: $-425/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

+205.1% since first listed

10 events — show timeline

• 2026-04-30 Price Changed $144,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2018-04-03 Sold (Public Records) $83,000 Public Records
• 2018-03-30 Sold (MLS) $83,000 Stellar MLS as Distributed by MLS Grid
• 2018-02-08 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2013-03-26 Sold (Public Records) $55,000 Public Records
• 2013-03-26 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2013-02-04 Listed $64,900 Stellar MLS as Distributed by MLS Grid
• 1991-12-27 Sold (Public Records) $40,500 Public Records
• 1987-10-01 Sold (Public Records) $47,500 Public Records

Property tax history

+9.0%/yr

Latest (2025): $3,026 · +10.6% YoY. Source: county tax records.