507 NW 39th Dr #210 · Gainesville, FL 32607

$124,900

2 bd · 2.0 ba · 900 sqft · Condo · 87 Days on market

Built 1976 Good condition $378/mo HOA · 25% 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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• DSCR +3.2/10.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This contemporary condominium offers modern living with clean lines and thoughtful design. This two-bedroom, two-bathroom residence offers comfortable living in a well-maintained building. The unit provides practical space for daily life, with thoughtfully designed areas that serve both relaxation and functionality. The location provides convenient access to local shops, dining establishments, and transportation options, making daily errands and commuting straightforward for residents. Schedule your private showing today to experience this contemporary condominium's modern living firsthand. This is a Fannie Mae HomePath property. First Time Buyers, complete the Home Path Ready Buyer homeownership course on Home path. Attach certificate to offer up to 3% closing cost assistance. Check Home Path for more details. Restrictions apply.

Key facts

• $378 HOA
• Community pool
• Built 1976

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-55 ($-655/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (6.3% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $117k (6.3% 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.
• Zoned schools: Littlewood Elementary School (math 56% / reading 55%, grade C, #855 of 2,144 statewide, top 41%, 706 students, 48% FRL); Westwood Middle School (math 47% / reading 51%, grade C-, #265 of 571 statewide, top 48%, 847 students, 56% FRL); F. W. Buchholz High School (math 49% / reading 66%, grade C, #125 of 667 statewide, top 19%, 2,540 students, 36% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents flat; 246 active listings in the ZIP; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 39% 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 $864 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 87 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $117,004 (6.3% 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 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.20% ✓
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• GRM: 6.9

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: -23.2%
• Equity multiple: 0.23×
• Total profit: $-27,002
• Equity at exit: $18,623

10-year hold

• IRR: -30.8%
• Equity multiple: -0.17×
• Total profit: $-40,805
• Equity at exit: $10,799

Cash invested: $34,972 (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: 246
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,502 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$378
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-55

Break-even live

Break-even rent $1,571

Max offer price $117,004

Occupancy floor 99%

Sensitivity live

Price	-10% $32	-5% $-11	+0% $-55	+5% $-98	+10% $-141
Rent	-10% $-173	-5% $-114	+0% $-55	+5% $5	+10% $64
Rate	-1.0pp $8	-0.5pp $-23	base $-55	+0.5pp $-87	+1.0pp $-120

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $378 · $4,536/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $124,900 Active 87 DOM
2. 2026-06-18
   days on market $124,900 Active 84 DOM
3. 2026-06-17
   days on market $124,900 Active 83 DOM
4. 2026-06-16
   days on market $124,900 Active 82 DOM
5. 2026-06-15
   days on market $124,900 Active 81 DOM
6. 2026-06-14
   days on market $124,900 Active 79 DOM
7. 2026-06-13
   days on market $124,900 Active 78 DOM
8. 2026-06-10
   days on market $124,900 Active 76 DOM
9. 2026-06-09
   days on market $124,900 Active 75 DOM
10. 2026-06-08
    days on market $124,900 Active 74 DOM
11. 2026-06-07
    days on market $124,900 Active 73 DOM
12. 2026-06-05
    days on market $124,900 Active 70 DOM
13. 2026-06-03
    days on market $124,900 Active 69 DOM
14. 2026-06-02
    days on market $124,900 Active 68 DOM
15. 2026-06-01
    days on market $124,900 Active 67 DOM
16. 2026-05-31
    days on market $124,900 Active 66 DOM
17. 2026-05-30
    days on market $124,900 Active 65 DOM
18. 2026-04-21
    price $129,900 842-char remark

    Show marketing remark (842 chars)

    This contemporary condominium offers modern living with clean lines and thoughtful design. This two-bedroom, two-bathroom residence offers comfortable living in a well-maintained building. The unit provides practical space for daily life, with thoughtfully designed areas that serve both relaxation and functionality. The location provides convenient access to local shops, dining establishments, and transportation options, making daily errands and commuting straightforward for residents. Schedule your private showing today to experience this contemporary condominium's modern living firsthand. This is a Fannie Mae HomePath property. First Time Buyers, complete the Home Path Ready Buyer homeownership course on Home path. Attach certificate to offer up to 3% closing cost assistance. Check Home Path for more details. Restrictions apply.

19. 2026-03-26
    listed $134,900 Active 842-char remark

    Show marketing remark (842 chars)

    This contemporary condominium offers modern living with clean lines and thoughtful design. This two-bedroom, two-bathroom residence offers comfortable living in a well-maintained building. The unit provides practical space for daily life, with thoughtfully designed areas that serve both relaxation and functionality. The location provides convenient access to local shops, dining establishments, and transportation options, making daily errands and commuting straightforward for residents. Schedule your private showing today to experience this contemporary condominium's modern living firsthand. This is a Fannie Mae HomePath property. First Time Buyers, complete the Home Path Ready Buyer homeownership course on Home path. Attach certificate to offer up to 3% closing cost assistance. Check Home Path for more details. Restrictions apply.

20. 2022-05-27
    soldstatus $156,000 Closed 921-char remark

    Show marketing remark (921 chars)

    Beautifully updated 2 Bedroom 2 Bath second floor condo located on the bus line & within 2 miles from UF, UF Health/Shands, shopping, restaurants & more! Upon entering the spacious living room you'll notice the bright natural light coming in from the sliding doors that opens to the balcony overlooking the courtyard. The living room offers new laminate flooring and leads into the large dining area with enough space for your home office. The kitchen is tiled, offers new faucets, plenty of cabinet space, large pantry, new sink, new faucets and new countertop and comes with all stainless steel appliances and washer and dryer. You'll find the bedrooms are very spacious, Master offers a walk- in closet and both bathrooms have beautiful Travertine Tile. Let's not forget the community offers a pool, clubhouse, fitness center, and tennis. Don't miss out on this opportunity, call for an appointment today!

21. 2022-04-24
    status Pending 921-char remark

    Show marketing remark (921 chars)

    Beautifully updated 2 Bedroom 2 Bath second floor condo located on the bus line & within 2 miles from UF, UF Health/Shands, shopping, restaurants & more! Upon entering the spacious living room you'll notice the bright natural light coming in from the sliding doors that opens to the balcony overlooking the courtyard. The living room offers new laminate flooring and leads into the large dining area with enough space for your home office. The kitchen is tiled, offers new faucets, plenty of cabinet space, large pantry, new sink, new faucets and new countertop and comes with all stainless steel appliances and washer and dryer. You'll find the bedrooms are very spacious, Master offers a walk- in closet and both bathrooms have beautiful Travertine Tile. Let's not forget the community offers a pool, clubhouse, fitness center, and tennis. Don't miss out on this opportunity, call for an appointment today!

22. 2022-04-20
    listed $149,900 Active 921-char remark

    Show marketing remark (921 chars)

    Beautifully updated 2 Bedroom 2 Bath second floor condo located on the bus line & within 2 miles from UF, UF Health/Shands, shopping, restaurants & more! Upon entering the spacious living room you'll notice the bright natural light coming in from the sliding doors that opens to the balcony overlooking the courtyard. The living room offers new laminate flooring and leads into the large dining area with enough space for your home office. The kitchen is tiled, offers new faucets, plenty of cabinet space, large pantry, new sink, new faucets and new countertop and comes with all stainless steel appliances and washer and dryer. You'll find the bedrooms are very spacious, Master offers a walk- in closet and both bathrooms have beautiful Travertine Tile. Let's not forget the community offers a pool, clubhouse, fitness center, and tennis. Don't miss out on this opportunity, call for an appointment today!

23. 2018-09-14
    soldstatus $78,000
24. 2018-08-03
    listed $80,750

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,024
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$4,536
• − Depreciation: −$3,633
• Taxable loss: −$2,524
• Est. tax savings @ 24.0%: +$606
• After-tax cash flow: $-49/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This two-bedroom, two-bathroom condominium is in good condition with recent updates, making it move-in ready for both resale and rental.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both landscape — improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both landscape — improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 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

+60.9% since first listed

7 events — show timeline

• 2026-04-21 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Listed $134,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-27 Sold (MLS) $156,000 Stellar MLS as Distributed by MLS Grid
• 2022-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-20 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2018-09-14 Sold (MLS) $78,000 Stellar MLS as Distributed by MLS Grid
• 2018-08-03 Listed $80,750 Stellar MLS as Distributed by MLS Grid