1810 NW 23rd Blvd #174 · Gainesville, FL 32605

$134,000

2 bd · 2.0 ba · 1,070 sqft · Condo public records · 92 Days on market

Built 1972 $389/mo HOA · 22% of rent

---

Why this score? — see what drove the C- 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 +17.8/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One or more photo(s) has been virtually staged. Spacious 2 bedroom, 2 bath condo that is truly move-in ready. Located about 2 miles from the University of Florida in the conveniently located community of Creeks Edge, residents enjoy access to a clubhouse, fitness center, sauna, swimming pool, and tennis courts. This unit features large bedrooms with walk-in closets, an open kitchen with granite countertops, a center island, and breakfast bar, and new modern ceiling fixtures throughout the entire condo, creating a clean, updated feel. Additional highlights include a laundry closet with an included washer and dryer, and a covered patio with a large storage closet. The unit backs up to a spacious green area, offering added privacy and a more open view. Creeks Edge is on a direct bus line to the University of Florida and Shands Hospital, and is also biking distance to campus. Conveniently located within walking distance to Wawa, Chipotle, Planet Fitness, and a variety of shopping and dining options.

Key facts

• Fitness center
• Sauna
• Swimming pool

Tags

• FITNESS CENTER
• SAUNA
• SWIMMING POOL
• TENNIS COURTS
• GRANITE COUNTERTOPS
• CENTER ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $134k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $122k (9.0% 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 $926 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 92 days — a 9% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $100k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $121,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.30% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.51%
• DSCR: 1.16
• GRM: 6.4

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: -8.5%
• Equity multiple: 0.68×
• Total profit: $-11,980
• Equity at exit: $19,980

10-year hold

• IRR: 3.4%
• Equity multiple: 1.27×
• Total profit: $10,124
• Equity at exit: $11,586

Cash invested: $37,520 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,744 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$121 /mo · $1,449/yr
• Insurance: −$56
• HOA: −$389
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $110

Break-even live

Break-even rent $1,605

Max offer price $134,000

Occupancy floor 89%

Sensitivity live

Price	-10% $186	-5% $148	+0% $110	+5% $72	+10% $34
Rent	-10% $-28	-5% $41	+0% $110	+5% $179	+10% $248
Rate	-1.0pp $177	-0.5pp $144	base $110	+0.5pp $75	+1.0pp $40

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 22 events

1. 2026-06-21
   days on market $134,000 Active 92 DOM
2. 2026-06-18
   price $134,000 Active 89 DOM
3. 2026-06-18
   days on market $139,000 Active 89 DOM
4. 2026-06-17
   days on market $139,000 Active 88 DOM
5. 2026-06-16
   days on market $139,000 Active 87 DOM
6. 2026-06-15
   days on market $139,000 Active 86 DOM
7. 2026-06-14
   days on market $139,000 Active 84 DOM
8. 2026-06-13
   days on market $139,000 Active 83 DOM
9. 2026-06-10
   days on market $139,000 Active 81 DOM
10. 2026-06-09
    days on market $139,000 Active 80 DOM
11. 2026-06-08
    days on market $139,000 Active 79 DOM
12. 2026-06-07
    days on market $139,000 Active 78 DOM
13. 2026-06-05
    days on market $139,000 Active 75 DOM
14. 2026-06-03
    days on market $139,000 Active 74 DOM
15. 2026-06-02
    days on market $139,000 Active 73 DOM
16. 2026-06-01
    days on market $139,000 Active 72 DOM
17. 2026-05-31
    days on market $139,000 Active 71 DOM
18. 2026-05-30
    days on market $139,000 Active 70 DOM
19. 2026-03-21
    listed $139,000 Active 1010-char remark

    Show marketing remark (1010 chars)

    One or more photo(s) has been virtually staged. Spacious 2 bedroom, 2 bath condo that is truly move-in ready. Located about 2 miles from the University of Florida in the conveniently located community of Creeks Edge, residents enjoy access to a clubhouse, fitness center, sauna, swimming pool, and tennis courts. This unit features large bedrooms with walk-in closets, an open kitchen with granite countertops, a center island, and breakfast bar, and new modern ceiling fixtures throughout the entire condo, creating a clean, updated feel. Additional highlights include a laundry closet with an included washer and dryer, and a covered patio with a large storage closet. The unit backs up to a spacious green area, offering added privacy and a more open view. Creeks Edge is on a direct bus line to the University of Florida and Shands Hospital, and is also biking distance to campus. Conveniently located within walking distance to Wawa, Chipotle, Planet Fitness, and a variety of shopping and dining options.

20. 2020-01-17
    soldstatus $100,000
21. 2008-11-27
    historical
22. 2008-09-19
    listed $124,900

ⓘ 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: $1,449 · $121/mo
• Projected year-2 tax: $1,449 · $121/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: −$7,506
• − Property taxes: −$1,449
• − Insurance: −$670
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − HOA: −$4,668
• − Depreciation: −$3,898
• Taxable loss: −$609
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $1,463/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

+11.3% since first listed

4 events — show timeline

• 2026-03-21 Listed $139,000 Stellar MLS as Distributed by MLS Grid
• 2020-01-17 Sold (Public Records) $100,000 Public Records
• 2008-11-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-09-19 Listed $124,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.6%/yr

Latest (2025): $1,449 · +4.8% YoY. Source: county tax records.