701 NW 24th Ave · Gainesville, FL 32609

$179,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 30 Days on market

Built 1979 6,534 sqft lot

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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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Run, Jump but do not skip this amazing NW 3 bedroom 1 bath ONLY $114,900! Open & inviting living room, wood beam accent, brick fireplace, dining area with custom built table & bench that stays with the house. Nice open kitchen includes dcor glass block entrance. Screened porch overlooks lush, private backyard with storage building and workshop space. Great house, great price, & only minutes to UF!

Key facts

• New floors
• Light filled layout
• Bonus room

Tags

• FENCED IN BACK YARD
• NEW FLOORS
• LIGHT FILLED LAYOUT
• BONUS ROOM

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Zoning: RSF3
• HOA & community: No association fees; Pets allowed; Part of Oak Park development

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected
• Home design: Single-family residence; One story; Faces south
• Construction: Frame construction with wood siding; Other roof type; Slab foundation; Built area about 1123 (public records)
• Exterior features: Paved road access; Lot about 0.15 acre (under 1/4 acre)

Interior

• Kitchen: Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combined; Bonus room; Fireplace (wood burning)
• Laundry & utility: Laundry room; Outside laundry access; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-49 ($-588/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (12.2% below list).
• Recommended offer: $157k (12.2% below list) — sets the bar for 1% rule.

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: Stephen Foster Elementary School (math 46% / reading 52%, grade D, #1,134 of 2,144 statewide, top 54%, 458 students, 65% 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).
• Market conditions: Rents rising fast (+4.0%/yr); 111 active listings in the ZIP; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 38% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $5k 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 30 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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.
• Current owner paid $106k; list at $179k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $157,187 (12.2% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.88% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.17%
• DSCR: 0.95
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.39×
• Total profit: $-30,409
• Equity at exit: $26,689

10-year hold

• IRR: -7.0%
• Equity multiple: 0.54×
• Total profit: $-23,304
• Equity at exit: $15,477

Cash invested: $50,120 (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 32609

• Home prices YoY: -23.5%
• Rents YoY: 4.0%
• Active inventory: 111
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$278 /mo · $3,330/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-49

Break-even live

Break-even rent $1,634

Max offer price $170,340

Occupancy floor 98%

Sensitivity live

Price	-10% $52	-5% $2	+0% $-49	+5% $-100	+10% $-150
Rent	-10% $-173	-5% $-111	+0% $-49	+5% $13	+10% $75
Rate	-1.0pp $41	-0.5pp $-3	base $-49	+0.5pp $-95	+1.0pp $-143

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $179,000 Active 30 DOM
2. 2026-06-18
   price $179,000 Active 27 DOM
3. 2026-06-18
   days on market $175,000 Active 27 DOM
4. 2026-06-17
   days on market $175,000 Active 26 DOM
5. 2026-06-16
   days on market $175,000 Active 25 DOM
6. 2026-06-15
   days on market $175,000 Active 24 DOM
7. 2026-06-14
   days on market $175,000 Active 22 DOM
8. 2026-06-13
   days on market $175,000 Active 21 DOM
9. 2026-06-10
   days on market $175,000 Active 19 DOM
10. 2026-06-09
    days on market $175,000 Active 18 DOM
11. 2026-06-08
    days on market $175,000 Active 17 DOM
12. 2026-06-07
    days on market $175,000 Active 16 DOM
13. 2026-06-05
    days on market $175,000 Active 13 DOM
14. 2026-06-03
    days on market $175,000 Active 12 DOM
15. 2026-06-02
    days on market $175,000 Active 11 DOM
16. 2026-06-01
    days on market $175,000 Active 10 DOM
17. 2026-05-31
    days on market $175,000 Active 9 DOM
18. 2026-05-30
    days on market $175,000 Active 8 DOM
19. 2026-05-22
    listed $175,000 Active
20. 2009-06-15
    soldstatus $106,000
21. 2009-06-12
    soldstatus $106,000 417-char remark

    Show marketing remark (417 chars)

    Run, Jump but do not skip this amazing NW 3 bedroom 1 bath ONLY $114,900! Open & inviting living room, wood beam accent, brick fireplace, dining area with custom built table & bench that stays with the house. Nice open kitchen includes dcor glass block entrance. Screened porch overlooks lush, private backyard with storage building and workshop space. Great house, great price, & only minutes to UF!

22. 2009-05-03
    listed $114,900 417-char remark

    Show marketing remark (417 chars)

    Run, Jump but do not skip this amazing NW 3 bedroom 1 bath ONLY $114,900! Open & inviting living room, wood beam accent, brick fireplace, dining area with custom built table & bench that stays with the house. Nice open kitchen includes dcor glass block entrance. Screened porch overlooks lush, private backyard with storage building and workshop space. Great house, great price, & only minutes to UF!

23. 1999-12-29
    soldstatus $70,500
24. 1999-12-28
    soldstatus $70,500 205-char remark

    Show marketing remark (205 chars)

    CALL LA FOR DISC. A GREAT HOME IN MOVE-IN CONDITION. THIS NW BEAUTY HAS HUGE FIRE- PLACE, NEW ROOF, NICE BACKYARD AND DECK. IDEAL FOR SINGLES OR YOUNG FAMILY UNDER 70K IN THE NW. DON`T MISS! XTRA WORK SHOP

25. 1999-11-10
    listed $69,900 205-char remark

    Show marketing remark (205 chars)

    CALL LA FOR DISC. A GREAT HOME IN MOVE-IN CONDITION. THIS NW BEAUTY HAS HUGE FIRE- PLACE, NEW ROOF, NICE BACKYARD AND DECK. IDEAL FOR SINGLES OR YOUNG FAMILY UNDER 70K IN THE NW. DON`T MISS! XTRA WORK SHOP

26. 1996-04-01
    soldstatus $57,000
27. 1996-03-29
    soldstatus $57,000
28. 1996-02-05
    listed $57,500
29. 1992-09-25
    soldstatus $34,100
30. 1988-03-01
    soldstatus $39,000
31. 1987-08-01
    soldstatus $40,600
32. 1986-08-01
    soldstatus $40,000
33. 1982-06-01
    soldstatus $29,200

ⓘ 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: $3,330 · $278/mo
• Projected year-2 tax: $3,330 · $278/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 2/10 Low
• 🌡 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,862
• − Mortgage interest: −$10,027
• − Property taxes: −$3,330
• − Insurance: −$895
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$5,207
• Taxable loss: −$3,615
• Est. tax savings @ 24.0%: +$868
• After-tax cash flow: $279/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): 19,752
• Household income: $49,406
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 1037.0

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 0.60)
• Race & ethnicity: White 54% Black 33% Hispanic / Latino 8% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -93.25%
• Current HPI: 304.1951
• Rent YoY: ▲ 4.04%
• 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

+513.0% since first listed

16 events — show timeline

• 2026-06-18 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-22 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2009-06-15 Sold (Public Records) $106,000 Public Records
• 2009-06-12 Sold (MLS) $106,000 Stellar MLS as Distributed by MLS Grid
• 2009-05-03 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 1999-12-29 Sold (Public Records) $70,500 Public Records
• 1999-12-28 Sold (MLS) $70,500 Stellar MLS as Distributed by MLS Grid
• 1999-11-10 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 1996-04-01 Sold (Public Records) $57,000 Public Records
• 1996-03-29 Sold (MLS) $57,000 Stellar MLS as Distributed by MLS Grid
• 1996-02-05 Listed $57,500 Stellar MLS as Distributed by MLS Grid
• 1992-09-25 Sold (Public Records) $34,100 Public Records
• 1988-03-01 Sold (Public Records) $39,000 Public Records
• 1987-08-01 Sold (Public Records) $40,600 Public Records
• 1986-08-01 Sold (Public Records) $40,000 Public Records
• 1982-06-01 Sold (Public Records) $29,200 Public Records

Property tax history

+6.0%/yr

Latest (2025): $3,330 · +6.7% YoY. Source: county tax records.