18722 NW 235th St · High Springs, FL 32643

$150,000

3 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 4 Days on market

Built 1929 0.34 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Investor opportunity with outstanding potential in a prime location with mixed-use zoning, and only a short drive to the area’s beautiful springs attractions. This 1920s home sits on approximately one-third acre with excellent curb appeal, a charming covered front porch, huge fenced backyard, plenty of off-street parking, and a large, detached outbuilding for storage or workshop use. The property needs some renovation and will be sold as-is, making it ideal for investors, flippers, contractors, or handy home seekers looking for a place to lovingly restore to its former glory. Existing features include a spacious eat-in kitchen and a distinctive

Key facts

• Covered front porch
• Detached outbuilding
• Off-street parking

Tags

• MIXED-USE ZONING
• COVERED FRONT PORCH
• HUGE FENCED BACKYARD
• OFF-STREET PARKING
• DETACHED OUTBUILDING
• SPACIOUS EAT-IN KITCHEN

Property features AI

Finance

• Other: Zoning: C2; Property is listed as a fixer; Unfurnished; No home warranty
• HOA & community: No HOA association indicated; Development: Whetstone Estates Addition; Homestead: Yes

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; Residential property; Fixer condition; One story; Entry level: One; Southeast facing
• Construction: Wood siding; Shingle roof; Crawlspace foundation; Building area about 1,571 square feet; Built on a lot of approximately 0.34 acres
• Exterior features: Private mailbox; Storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; No cooling system
• Interior features: Eat-in kitchen; Split bedroom layout; Bonus room; Wood-frame windows; Wood-burning fireplace in the living room and additional fireplace
• Laundry & utility: Laundry room with washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 15.6% vs local median 3.9% in High Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#506 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute 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: High Springs Community School (math 68% / reading 60%, grade B, #552 of 2,144 statewide, top 26%, 974 students, 45% FRL); Santa Fe High School (math 35% / reading 56%, grade D-, #223 of 667 statewide, top 34%, 1,154 students, 47% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 190 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• This rent runs 38% of the median local income ($83k/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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.78% ✓
• Cap rate: 15.60%
• Cash-on-cash: 33.24%
• DSCR: 2.48
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.4%
• Equity multiple: 2.19×
• Total profit: $49,777
• Equity at exit: $22,365

10-year hold

• IRR: 35.9%
• Equity multiple: 4.30×
• Total profit: $138,686
• Equity at exit: $12,969

Cash invested: $42,000 (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 32643

• Home prices YoY: -5.5%
• Active inventory: 190
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,663 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$91 /mo · $1,091/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $1,163

Break-even live

Break-even rent $1,190

Max offer price $150,000

Occupancy floor 51%

Sensitivity live

Price	-10% $1,248	-5% $1,206	+0% $1,163	+5% $1,121	+10% $1,079
Rent	-10% $953	-5% $1,058	+0% $1,163	+5% $1,269	+10% $1,374
Rate	-1.0pp $1,239	-0.5pp $1,202	base $1,163	+0.5pp $1,125	+1.0pp $1,085

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18160 High Springs Main St Unit 1359107P High Springs, FL	2.0	1.0	990	$2,646	$2.67	22d	1	0.74mi
17451 Southside Ct High Springs, FL	2.0	1.0	1132	$1,800	$1.59	22d	1	0.97mi

Listing history 5 events

1. 2026-06-13
   days on market $150,000 Pending 4 DOM
2. 2026-05-31
   status $150,000 Pending 3 DOM
3. 2026-05-31
   days on market $150,000 Active 3 DOM
4. 2026-05-30
   days on market $150,000 Active 2 DOM
5. 2026-05-28
   listed $150,000 Active

ⓘ 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: $1,091 · $91/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$154/yr (+$13/mo · 14.1%)

ⓘ 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 8/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,953
• − Mortgage interest: −$8,402
• − Property taxes: −$1,091
• − Insurance: −$750
• − Repairs & maintenance: −$2,556
• − Management: −$2,556
• − Depreciation: −$4,364
• Taxable income: $12,233
• Est. tax owed @ 24.0%: −$2,936
• After-tax cash flow: $11,026/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 — High Springs

• Score: 68/100
• State rank: #506
• US rank: #9346

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment C+ Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: High Springs, FL
• County: Alachua County · 218,005 people
• City population: 11,953
• Metro: Gainesville, FL
• Population (ZIP): 11,953
• Household income: $83,386
• Rent vs Own: 11.1% rent · 88.9% own
• Severe rent burden: 150.0

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 (77%)
• Race & ethnicity: White 77% Black 11% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Cuban 1%
• Common ancestry: Slovak 5% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 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: ▼ -18.02%
• Current HPI: 308.0178
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-28 Listed $150,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $1,091 · +6.8% YoY. Source: county tax records.