1810 NW 23rd Blvd #109 · Gainesville, FL 32605

$146,500

2 bd · 2.0 ba · 1,070 sqft · Condo public records · 123 Days on market

Built 1972 $389/mo HOA · 22% of rent ↓ 16% since listing

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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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACIOUS 2/2 Creek Edge Condominium ground-level end unit offers a functional and open layout. Featuring tile flooring throughout the main living areas, an upgraded kitchen back splash, and a painted interior, sliding glass door, a newer dishwasher, newer stove/oven updated electrical panel, washer and dryer are included. The living area opens to a covered porch with an attached storage closet, providing additional usable space. The community offers a range of amenities, including a clubhouse, fitness center, tennis courts, and a pool. The grounds are well maintained with mature trees and a creek running through the property. Conveniently located near shopping, dining, public transportation routes, University of Florida, Santa Fe College, UF Health, HCA Florida and North Florida Hospital. Information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details. Schedule a showing to view this property. Currently Leased until 3/2027.

Key facts

• Covered porch
• Fitness center
• Clubhouse

Tags

• GROUND-LEVEL END UNIT
• UPGRADED KITCHEN BACK SPLASH
• COVERED PORCH
• ATTACHED STORAGE CLOSET
• CLUBHOUSE
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $146k.

Deal economics

• At list price, monthly cash flow is $-81 ($-973/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (9.8% below list).
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $129k (12.0% 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.
• Zoned schools: Glen Springs Elementary School (math 37% / reading 52%, grade F, #1,288 of 2,144 statewide, top 62%, 426 students, 47% FRL); Westwood Middle School (math 47% / reading 51%, grade C-, #265 of 571 statewide, top 48%, 847 students, 56% FRL); Gainesville High School (math 48% / reading 57%, grade C-, #154 of 667 statewide, top 24%, 1,873 students, 47% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 265 active listings in the ZIP; solid renter incomes; 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 $1k 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 123 days — a 12% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 26 sale attempts since 20y 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 22% of rent.

Recommended offer $128,920 (12.0% 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 123 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 1972 — 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: 1.19% ✓
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.41% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.36×
• Total profit: $-26,091
• Equity at exit: $21,844

10-year hold

• IRR: -6.0%
• Equity multiple: 0.57×
• Total profit: $-17,547
• Equity at exit: $12,667

Cash invested: $41,020 (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 32605

• Home prices YoY: -34.2%
• Rents YoY: 4.4%
• Active inventory: 265
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,744 medium
• Mortgage (P&I): −$768
• Tax from tax record: −$241 /mo · $2,889/yr
• Insurance: −$61
• HOA: −$389
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-81

Break-even live

Break-even rent $1,847

Max offer price $132,183

Occupancy floor 100%

Sensitivity live

Price	-10% $2	-5% $-40	+0% $-81	+5% $-123	+10% $-164
Rent	-10% $-219	-5% $-150	+0% $-81	+5% $-12	+10% $57
Rate	-1.0pp $-7	-0.5pp $-44	base $-81	+0.5pp $-119	+1.0pp $-158

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: $36,625
• Closing costs: $4,395
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $389 · $4,668/yr
• Likely covers: electriclandscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-05-31
   days on market $146,500 Active 123 DOM
2. 2026-05-30
   days on market $146,500 Active 122 DOM
3. 2026-03-12
   price $146,500 979-char remark

   Show marketing remark (979 chars)

   SPACIOUS 2/2 Creek Edge Condominium ground-level end unit offers a functional and open layout. Featuring tile flooring throughout the main living areas, an upgraded kitchen back splash, and a painted interior, sliding glass door, a newer dishwasher, newer stove/oven updated electrical panel, washer and dryer are included. The living area opens to a covered porch with an attached storage closet, providing additional usable space. The community offers a range of amenities, including a clubhouse, fitness center, tennis courts, and a pool. The grounds are well maintained with mature trees and a creek running through the property. Conveniently located near shopping, dining, public transportation routes, University of Florida, Santa Fe College, UF Health, HCA Florida and North Florida Hospital. Information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details. Schedule a showing to view this property. Currently Leased until 3/2027.

4. 2026-01-28
   listed $147,500 Active 979-char remark

   Show marketing remark (979 chars)

   SPACIOUS 2/2 Creek Edge Condominium ground-level end unit offers a functional and open layout. Featuring tile flooring throughout the main living areas, an upgraded kitchen back splash, and a painted interior, sliding glass door, a newer dishwasher, newer stove/oven updated electrical panel, washer and dryer are included. The living area opens to a covered porch with an attached storage closet, providing additional usable space. The community offers a range of amenities, including a clubhouse, fitness center, tennis courts, and a pool. The grounds are well maintained with mature trees and a creek running through the property. Conveniently located near shopping, dining, public transportation routes, University of Florida, Santa Fe College, UF Health, HCA Florida and North Florida Hospital. Information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details. Schedule a showing to view this property. Currently Leased until 3/2027.

5. 2025-05-31
   historical $1,400
6. 2025-05-19
   listed $1,400
7. 2025-04-25
   historical $1,500
8. 2025-04-25
   historical $1,500
9. 2025-04-25
   listed $1,500
10. 2025-04-04
    listed $1,700
11. 2025-04-04
    historical $1,525
12. 2025-03-31
    listed $1,525
13. 2025-03-26
    historical $1,525
14. 2025-02-11
    listed $1,525
15. 2024-03-14
    historical $1,495
16. 2023-12-31
    price $1,495
17. 2023-12-21
    price $1,500
18. 2023-12-13
    price $1,525
19. 2023-11-11
    listed $1,550
20. 2023-11-06
    soldstatus $145,000
21. 2019-04-30
    soldstatus $69,000 412-char remark

    Show marketing remark (412 chars)

    This beautifully maintained and spacious 1BR unit boasts newer carpet and paint, aesthetic tile floors and wood cabinets. It is optimally located about 2 miles north of UF and a three minute walk from two bus routes that take you to campus. This 1st floor unit also features a pleasant rear patio and storage closet. Amenities include tennis court, clubhouse, 24 hour gym, pool, clubhouse and bbq area. 5+ Units.

22. 2019-03-12
    listed $67,000 412-char remark

    Show marketing remark (412 chars)

    This beautifully maintained and spacious 1BR unit boasts newer carpet and paint, aesthetic tile floors and wood cabinets. It is optimally located about 2 miles north of UF and a three minute walk from two bus routes that take you to campus. This 1st floor unit also features a pleasant rear patio and storage closet. Amenities include tennis court, clubhouse, 24 hour gym, pool, clubhouse and bbq area. 5+ Units.

23. 2018-10-31
    soldstatus $62,500
24. 2018-08-09
    listed $63,500
25. 2018-01-17
    soldstatus $54,000
26. 2017-12-08
    listed $61,000
27. 2017-07-21
    soldstatus $93,500
28. 2017-06-02
    listed $94,500
29. 2016-07-17
    historical
30. 2016-07-07
    listed $74,900
31. 2016-04-20
    historical
32. 2016-04-11
    listed $66,900
33. 2014-09-09
    soldstatus $49,500
34. 2014-04-25
    listed $59,900
35. 2012-05-04
    soldstatus $36,000
36. 2012-02-17
    listed $37,500
37. 2011-12-12
    historical
38. 2011-12-12
    historical
39. 2011-06-30
    historical
40. 2010-10-20
    listed $44,900
41. 2010-01-06
    historical
42. 2009-06-10
    historical
43. 2009-02-25
    historical
44. 2009-02-09
    historical
45. 2009-02-09
    historical
46. 2008-11-10
    listed $92,500
47. 2008-07-21
    soldstatus $95,000
48. 2008-05-22
    listed $118,000
49. 2008-05-19
    soldstatus $145,900
50. 2008-04-23
    listed $95,000

ⓘ 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: $2,889 · $241/mo
• Projected year-2 tax: $2,889 · $241/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: $20,932
• − Mortgage interest: −$8,206
• − Property taxes: −$2,889
• − Insurance: −$732
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − HOA: −$4,668
• − Depreciation: −$4,262
• Taxable loss: −$3,175
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $-211/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): 24,689
• Household income: $86,714
• Rent vs Own: 22.1% rent · 77.9% own
• Severe rent burden: 586.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 12% Black 12% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Slovak 5% Romanian 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 6% Chinese 2% Other Indo-European 2%

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: ▼ -142.48%
• Current HPI: 274.157
• Rent YoY: ▲ 4.41%
• 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

-16.2% since first listed

56 events — show timeline

• 2026-03-12 Price Changed $146,500 Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Listed $147,500 Stellar MLS as Distributed by MLS Grid
• 2025-05-31 Rental Removed $1,400 APPFOLIO
• 2025-05-19 Listed for Rent $1,400 APPFOLIO
• 2025-04-25 Rental Removed $1,500 APPFOLIO
• 2025-04-25 Rental Removed $1,500 APPFOLIO
• 2025-04-25 Listed for Rent $1,500 APPFOLIO
• 2025-04-04 Listed for Rent $1,700 APPFOLIO
• 2025-04-04 Rental Removed $1,525 APPFOLIO
• 2025-03-31 Listed for Rent $1,525 APPFOLIO
• 2025-03-26 Rental Removed $1,525 APPFOLIO
• 2025-02-11 Listed for Rent $1,525 APPFOLIO
• 2024-03-14 Rental Removed $1,495 APPFOLIO
• 2023-12-31 Price Changed $1,495 APPFOLIO
• 2023-12-21 Price Changed $1,500 APPFOLIO
• 2023-12-13 Price Changed $1,525 APPFOLIO
• 2023-11-11 Listed for Rent $1,550 APPFOLIO
• 2023-11-06 Sold (Public Records) $145,000 Public Records
• 2019-04-30 Sold (MLS) $69,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-12 Listed $67,000 Stellar MLS as Distributed by MLS Grid
• 2018-10-31 Sold (MLS) $62,500 Stellar MLS as Distributed by MLS Grid
• 2018-08-09 Listed $63,500 Stellar MLS as Distributed by MLS Grid
• 2018-01-17 Sold (MLS) $54,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-08 Listed $61,000 Stellar MLS as Distributed by MLS Grid
• 2017-07-21 Sold (MLS) $93,500 Stellar MLS as Distributed by MLS Grid
• 2017-06-02 Listed $94,500 Stellar MLS as Distributed by MLS Grid
• 2016-07-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-07-07 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2016-04-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-04-11 Listed $66,900 Stellar MLS as Distributed by MLS Grid
• 2014-09-09 Sold (MLS) $49,500 Stellar MLS as Distributed by MLS Grid
• 2014-04-25 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2012-05-04 Sold (MLS) $36,000 Stellar MLS as Distributed by MLS Grid
• 2012-02-17 Listed $37,500 Stellar MLS as Distributed by MLS Grid
• 2011-12-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-12-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-10-20 Listed $44,900 Stellar MLS as Distributed by MLS Grid
• 2010-01-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-02-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-02-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-02-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-11-10 Listed $92,500 Stellar MLS as Distributed by MLS Grid
• 2008-07-21 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2008-05-22 Listed $118,000 Stellar MLS as Distributed by MLS Grid
• 2008-05-19 Sold (MLS) $145,900 Stellar MLS as Distributed by MLS Grid
• 2008-04-23 Listed $95,000 Stellar MLS as Distributed by MLS Grid
• 2008-03-01 Listed $172,900 Stellar MLS as Distributed by MLS Grid
• 2008-02-22 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2007-06-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-05-08 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2007-05-01 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-14 Listed $156,900 Stellar MLS as Distributed by MLS Grid
• 2006-12-01 Listed $115,900 Stellar MLS as Distributed by MLS Grid
• 2006-12-01 Listed $174,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+15.6%/yr

Latest (2025): $2,889 · +5.0% YoY. Source: county tax records.