502 SE 15th St · Gainesville, FL 32641

$69,999

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 67 Days on market

Built 1956 ↓ 25% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• 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

Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

Key facts

• 5 year old roof
• Proximity to campus
• Trail access

Tags

• 5 YEAR OLD ROOF
• PROXIMITY TO CAMPUS
• TRAIL ACCESS
• REVITALIZED NEIGHBORHOOD CORE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (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: 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 $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,799 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 5.8

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $5,723
• Equity at exit: $10,437

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $27,077
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,008 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$132 /mo · $1,590/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $267

Break-even live

Break-even rent $669

Max offer price $69,999

Occupancy floor 68%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $69,999 Active 67 DOM
2. 2026-06-17
   days on market $69,999 Active 66 DOM
3. 2026-06-16
   days on market $69,999 Active 65 DOM
4. 2026-06-15
   days on market $69,999 Active 64 DOM
5. 2026-06-14
   days on market $69,999 Active 62 DOM
6. 2026-06-13
   days on market $69,999 Active 61 DOM
7. 2026-06-10
   days on market $69,999 Active 59 DOM
8. 2026-06-09
   days on market $69,999 Active 58 DOM
9. 2026-06-08
   days on market $69,999 Active 57 DOM
10. 2026-06-07
    days on market $69,999 Active 56 DOM
11. 2026-06-05
    days on market $69,999 Active 53 DOM
12. 2026-06-03
    days on market $69,999 Active 52 DOM
13. 2026-06-02
    days on market $69,999 Active 51 DOM
14. 2026-06-01
    days on market $69,999 Active 50 DOM
15. 2026-05-31
    days on market $69,999 Active 49 DOM
16. 2026-05-30
    pricedays on market $69,999 Active 48 DOM
17. 2026-05-16
    price $75,000 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

18. 2026-05-12
    price $79,999 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

19. 2026-05-08
    price $86,000 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

20. 2026-05-04
    price $88,999 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

21. 2026-04-27
    price $89,999 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

22. 2026-04-22
    price $94,900 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

23. 2026-04-11
    listed $99,900 Active 1444-char remark

    Show marketing remark (1444 chars)

    Opportunity knocks in one of Gainesville's most desirable quadrants. This 1,008 sq ft, 2-bedroom, 1-bath home sits on SE 15th Street -- less than 1.5 miles from the University of Florida campus and steps from the city's most walkable corridor. The home is solid where it counts: a 5-year-old roof is already in place, giving your renovation a strong foundation to build from. The rest of the home needs work, and the price reflects it. Bring your contractor and your vision -- the bones are there. The location is the story. Half a mile from Depot Park, a beloved 32-acre green space featuring waterfront trails, a splash pad, picnic pavilions, and direct trailhead access to the Gainesville-Hawthorne State Trail -- 16 miles of paved trail winding through state parks and conservation land. Cyclists and trail runners live for this access. Steps away, South Main Station and Heartwood Soundstage anchor a buzzing local dining and entertainment scene: wood-fired pizza, craft beer, live music, and independent bookshops -- all walkable from the front door. With UF enrollment consistently above 60,000 students and staff, the rental demand in this zip code runs year-round. Whether you flip it or hold it as a long-term rental, the fundamentals are hard to ignore: proximity to campus, trail access, a revitalized neighborhood core, and a roof that's already done. Cash offers only. Sold as-is. Inspections to be done prior to offer.

ⓘ 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: $1,590 · $132/mo
• Projected year-2 tax: $1,590 · $132/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 5/10 Major
• 🌡 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: $12,091
• − Mortgage interest: −$3,921
• − Property taxes: −$1,590
• − Insurance: −$350
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$2,036
• Taxable income: $2,259
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $2,665/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

-24.9% since first listed

7 events — show timeline

• 2026-05-16 Price Changed $75,000 realMLS
• 2026-05-12 Price Changed $79,999 realMLS
• 2026-05-08 Price Changed $86,000 realMLS
• 2026-05-04 Price Changed $88,999 realMLS
• 2026-04-27 Price Changed $89,999 realMLS
• 2026-04-22 Price Changed $94,900 realMLS
• 2026-04-11 Listed $99,900 realMLS

Property tax history

+6.1%/yr

Latest (2025): $1,590 · +5.6% YoY. Source: county tax records.