2490 SW 14th Dr #40 · Gainesville, FL 32608

$120,000

2 bd · 1.0 ba · 830 sqft · Condo public records · 120 Days on market

Built 1979 $347/mo HOA · 24% 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 +9.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to buy a condo for yourself or add a property to the investment portfolio. Current long term tenant''s lease ends 6/30 and they have taken great care of this place. Impressive on the inside with a 2 bed 1 bath layout and indoor washer/dryer. This condo is located just minutes from UF, Shands/VA, the vet school, and downtown Gainesville. And to top it all off, its got a low HOA. Come check it out! 5+ Units.

Key facts

• Move-in ready
• Corner unit
• Central air

Tags

• CENTRAL AIR
• LUXURY VINYL PLANK FLOORING
• UPDATED ELECTRICAL PANEL
• CORNER UNIT
• LOW-MAINTENANCE LIVING
• MOVE-IN READY

Property features AI

Finance

• Other: No community amenities; Unfurnished; Total living area about 830 square feet
• HOA & community: HOA managed by Cornerstone Management Services; Monthly association fee $347 (includes structure and grounds maintenance); Association fees required; No pets allowed

Exterior

• Parking: Open parking
• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available; Electricity connected; Sewer connected; Water connected; Fire hydrant
• Home design: Residential condominium; One story; Faces south; Condo land included
• Construction: Vinyl siding and frame construction; Shingle roof; Crawlspace foundation; Completed condition; Built on a 0.02-acre lot
• Exterior features: Paved public-maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (12.3% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $105k (12.3% 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.
• Market conditions: Rents rising (+2.9%/yr); 604 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 $830 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 120 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 6 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

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,205 (12.3% 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 120 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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: 1.23% ✓
• Cap rate: 5.46%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 6.8

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: -21.2%
• Equity multiple: 0.27×
• Total profit: $-24,664
• Equity at exit: $17,892

10-year hold

• IRR: -14.4%
• Equity multiple: 0.17×
• Total profit: $-27,883
• Equity at exit: $10,375

Cash invested: $33,600 (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 32608

• Rents YoY: 2.9%
• Active inventory: 604
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,470 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$50
• HOA: −$347
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-84

Break-even live

Break-even rent $1,576

Max offer price $105,205

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-50	+0% $-84	+5% $-118	+10% $-152
Rent	-10% $-200	-5% $-142	+0% $-84	+5% $-26	+10% $32
Rate	-1.0pp $-23	-0.5pp $-53	base $-84	+0.5pp $-115	+1.0pp $-146

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $347 · $4,164/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-09
   status Pending
2. 2026-04-07
   price $120,000
3. 2026-01-08
   listed $125,000 Active
4. 2025-12-02
   historical
5. 2025-10-27
   listed $137,500 Active
6. 2021-07-08
   soldstatus $114,000
7. 2021-06-30
   soldstatus $114,000 427-char remark

   Show marketing remark (427 chars)

   Great opportunity to buy a condo for yourself or add a property to the investment portfolio. Current long term tenant''s lease ends 6/30 and they have taken great care of this place. Impressive on the inside with a 2 bed 1 bath layout and indoor washer/dryer. This condo is located just minutes from UF, Shands/VA, the vet school, and downtown Gainesville. And to top it all off, its got a low HOA. Come check it out! 5+ Units.

8. 2021-06-08
   listed $112,000 427-char remark

   Show marketing remark (427 chars)

   Great opportunity to buy a condo for yourself or add a property to the investment portfolio. Current long term tenant''s lease ends 6/30 and they have taken great care of this place. Impressive on the inside with a 2 bed 1 bath layout and indoor washer/dryer. This condo is located just minutes from UF, Shands/VA, the vet school, and downtown Gainesville. And to top it all off, its got a low HOA. Come check it out! 5+ Units.

9. 2012-09-21
   historical
10. 2010-10-12
    historical
11. 2010-02-15
    listed $49,000
12. 2007-11-14
    listed $113,900
13. 2005-09-12
    soldstatus $91,000
14. 2005-09-12
    listed $91,000

ⓘ 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: $2,626 · $219/mo
• Projected year-2 tax: $2,626 · $219/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 9/10 Extreme 7 d/yr ≥107°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,641
• − Mortgage interest: −$6,722
• − Property taxes: −$2,626
• − Insurance: −$600
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − HOA: −$4,164
• − Depreciation: −$3,491
• Taxable loss: −$2,784
• Est. tax savings @ 24.0%: +$668
• After-tax cash flow: $-337/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

+31.9% since first listed

14 events — show timeline

• 2026-05-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Listed $137,500 Stellar MLS as Distributed by MLS Grid
• 2021-07-08 Sold (Public Records) $114,000 Public Records
• 2021-06-30 Sold (MLS) $114,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-08 Listed $112,000 Stellar MLS as Distributed by MLS Grid
• 2012-09-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-10-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-02-15 Listed $49,000 Stellar MLS as Distributed by MLS Grid
• 2007-11-14 Listed $113,900 Stellar MLS as Distributed by MLS Grid
• 2005-09-12 Listed $91,000 Stellar MLS as Distributed by MLS Grid
• 2005-09-12 Sold (MLS) $91,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+9.7%/yr

Latest (2025): $2,626 · +14.6% YoY. Source: county tax records.