2735 SW 35 Pl #1607 · Gainesville, FL 32608

$179,900

2 bd · 3.0 ba · 1,208 sqft · Condo public records · 57 Days on market

Built 1987 $335/mo HOA · 20% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Contingent accepting back up offers. * * * Lots of Nice Features & Great Location! This home is located next to bus route, Shands Hospital, University, and downtown. It has three bedrooms and two and one-half baths. The downstairs living area has a bedroom/office, half bath, kitchen, great room combo dining and a lovely screened in porch with storage. Upstairs are two bedrooms and two baths and laundry closet with washer & dryer. Some of the features are travertine tile in bathrooms with updates to vanities and tops. The bedrooms and hall have been freshly painted upstairs, vinyl plank flooring in hall and great room, and new carpet 2017. New kitchen flooring, bottom cabinets, counter tops and sink, new dishwasher in 2016, and some new window treatments 2017, slate tile on the back porch. Water & Waste Water are included in HOA dues. Call now to view! 5+ Units.

Key facts

• $335 HOA
• Community pool
• Built 1987

Property features AI

Finance

• Other: Total living area: 1208 square feet
• Financial info: Lease restrictions apply
• HOA & community: Casablanca West Association; Monthly HOA dues of $335; HOA includes trash and water; Community pool; Community mailbox; Pets allowed (cats and dogs)

Exterior

• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; Residential property; Two stories; Unit on 2nd floor; East-facing
• Construction: Stucco construction; Shingle roof; Slab foundation
• Exterior features: Sidewalk; Asphalt / paved road access

Interior

• Kitchen: Cooktop; Range; Dishwasher; Disposal
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; 8 total rooms
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-305 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (29.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (8.3% below list).
• Recommended offer: $126k (29.9% 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: Idylwild Elementary School (math 30% / reading 29%, grade F, #1,896 of 2,144 statewide, top 90%, 533 students, 78% FRL); Kanapaha Middle School (math 54% / reading 54%, grade B-, #196 of 571 statewide, top 36%, 1,094 students, 53% FRL); Eastside High School (math 29% / reading 56%, grade F, #264 of 667 statewide, top 41%, 1,220 students, 56% FRL).
• Market conditions: Rents rising (+2.9%/yr); 604 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/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 57 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $97k; list at $180k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $126,055 (29.9% 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 57 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 4.26%
• Cash-on-cash: -7.26%
• DSCR: 0.68
• GRM: 9.1

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: -28.9%
• Equity multiple: 0.04×
• Total profit: $-48,498
• Equity at exit: $26,824

10-year hold

• IRR: -28.6%
• Equity multiple: -0.33×
• Total profit: $-66,963
• Equity at exit: $15,554

Cash invested: $50,372 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$255 /mo · $3,056/yr
• Insurance: −$75
• HOA: −$335
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-305

Break-even live

Break-even rent $2,036

Max offer price $126,055

Occupancy floor —

Sensitivity live

Price	-10% $-203	-5% $-254	+0% $-305	+5% $-356	+10% $-407
Rent	-10% $-435	-5% $-370	+0% $-305	+5% $-240	+10% $-174
Rate	-1.0pp $-214	-0.5pp $-259	base $-305	+0.5pp $-351	+1.0pp $-399

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4455 SW 34th St Gainesville, FL	1.0–3.0	1.0–3.0	1033	$1,830	$1.77	15d	28	0.63mi

HOA detail condo

• Monthly dues: $335 · $4,020/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $179,900 Active 57 DOM
2. 2026-06-18
   days on market $179,900 Active 54 DOM
3. 2026-06-17
   days on market $179,900 Active 53 DOM
4. 2026-06-16
   days on market $179,900 Active 52 DOM
5. 2026-06-15
   days on market $179,900 Active 51 DOM
6. 2026-06-14
   days on market $179,900 Active 49 DOM
7. 2026-06-13
   days on market $179,900 Active 48 DOM
8. 2026-06-10
   days on market $179,900 Active 46 DOM
9. 2026-06-09
   days on market $179,900 Active 45 DOM
10. 2026-06-08
    days on market $179,900 Active 44 DOM
11. 2026-06-07
    days on market $179,900 Active 43 DOM
12. 2026-06-05
    days on market $179,900 Active 40 DOM
13. 2026-06-03
    days on market $179,900 Active 39 DOM
14. 2026-06-02
    days on market $179,900 Active 38 DOM
15. 2026-06-01
    days on market $179,900 Active 37 DOM
16. 2026-05-31
    days on market $179,900 Active 36 DOM
17. 2026-05-30
    days on market $179,900 Active 35 DOM
18. 2026-04-25
    listed $179,900 Active 1045-char remark
19. 2018-07-17
    soldstatus $96,800
20. 2018-07-13
    soldstatus $96,800 903-char remark

    Show marketing remark (903 chars)

    * * * Contingent accepting back up offers. * * * Lots of Nice Features & Great Location! This home is located next to bus route, Shands Hospital, University, and downtown. It has three bedrooms and two and one-half baths. The downstairs living area has a bedroom/office, half bath, kitchen, great room combo dining and a lovely screened in porch with storage. Upstairs are two bedrooms and two baths and laundry closet with washer & dryer. Some of the features are travertine tile in bathrooms with updates to vanities and tops. The bedrooms and hall have been freshly painted upstairs, vinyl plank flooring in hall and great room, and new carpet 2017. New kitchen flooring, bottom cabinets, counter tops and sink, new dishwasher in 2016, and some new window treatments 2017, slate tile on the back porch. Water & Waste Water are included in HOA dues. Call now to view! 5+ Units.

21. 2018-06-23
    listed $104,900 903-char remark

    Show marketing remark (903 chars)

    * * * Contingent accepting back up offers. * * * Lots of Nice Features & Great Location! This home is located next to bus route, Shands Hospital, University, and downtown. It has three bedrooms and two and one-half baths. The downstairs living area has a bedroom/office, half bath, kitchen, great room combo dining and a lovely screened in porch with storage. Upstairs are two bedrooms and two baths and laundry closet with washer & dryer. Some of the features are travertine tile in bathrooms with updates to vanities and tops. The bedrooms and hall have been freshly painted upstairs, vinyl plank flooring in hall and great room, and new carpet 2017. New kitchen flooring, bottom cabinets, counter tops and sink, new dishwasher in 2016, and some new window treatments 2017, slate tile on the back porch. Water & Waste Water are included in HOA dues. Call now to view! 5+ Units.

22. 2017-10-04
    historical
23. 2017-08-02
    listed $89,900
24. 1999-07-22
    soldstatus $62,000
25. 1994-08-25
    soldstatus $16,700
26. 1987-09-01
    soldstatus $51,900

ⓘ 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: $3,056 · $255/mo
• Projected year-2 tax: $3,056 · $255/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: $19,797
• − Mortgage interest: −$10,077
• − Property taxes: −$3,056
• − Insurance: −$900
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$4,020
• − Depreciation: −$5,233
• Taxable loss: −$6,657
• Est. tax savings @ 24.0%: +$1,598
• After-tax cash flow: $-2,060/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

+246.6% since first listed

9 events — show timeline

• 2026-04-25 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2018-07-17 Sold (Public Records) $96,800 Public Records
• 2018-07-13 Sold (MLS) $96,800 Stellar MLS as Distributed by MLS Grid
• 2018-06-23 Listed $104,900 Stellar MLS as Distributed by MLS Grid
• 2017-10-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-08-02 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 1999-07-22 Sold (Public Records) $62,000 Public Records
• 1994-08-25 Sold (Public Records) $16,700 Public Records
• 1987-09-01 Sold (Public Records) $51,900 Public Records

Property tax history

+24.7%/yr

Latest (2025): $3,056 · +4.3% YoY. Source: county tax records.