by Global Lifestyle Properties

See Home Value
$305,000
● House - Off Market

724 NW 7TH AVENUE

GAINESVILLE, FL 32601
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,434 Ft²
$1,849
Est. Monthly
6.79%
Cap Rate

About This Property

UF students and Grad students - why pay $2,000+ rent when you can buy this amazing home less than 1 mile to UF and make money while completing your education!  Rare opportunity to own this beautifully remodeled craftsman style home in a prime location less than 1 mile to UF!  Split bedroom plan featuring 3 large bedrooms and 2 full bathrooms.  Open kitchen with quartz countertops and new appliances.  Luxury vinyl flooring throughout the house.  Main bedroom is split from the guest bedrooms and features a luxury bathroom and a side patio with a large swing.  Side patio separate entrance to the main bedroom and to the laundry room so the main bedroom can be used as an in-law suite or rental unit.  Front entrance Florida Room is huge and bright with windows and LVP flooring.  All stainless steel appliances highlight the open kitchen.  Why waste money on rent when you can own this beautiful property and make money short and long term as a great investment.  So close to everything!  1/2 mile to Santa Fe College Charles L. Blount Center, .4 miles to Flatfish Bakery, .7 miles to Publix on 13th (UF), .8 to Matherly Hall at UF, 1.5 miles to Ben Hill Griffin Stadium, Less than 1 mile to Dragonfly Sushi and downtown and less than 1.5 miles to Depot Park and the 4th Ave Food Park and so much more.  Here's the math:  Scenario 1: Renting a Similar Property Near UF

Rent: $2,200/month

Annual Rent Cost: $26,400

Total Rent Over 4 Years: $105,600

Scenario 2: Purchasing 724 NW 7th Ave

Total Housing Cost Over 4 Years: $116,640

Net Equity Gained After 4 Years: $66,900

Net Cost of Buying (Before Rental Income): $49,740

Rental Income from Extra Bedrooms

Estimated Rent per Bedroom: $800/month

Total Rent for 2 Bedrooms: $1,600/month

Annual Rental Income: $1,600 × 12 = $19,200

Total Rental Income Over 4 Years: $19,200 × 4 = $76,800

Net Cost of Buying After Rental Income

Net Cost Before Rental Income: $49,740

Less Rental Income (2 Bedrooms): $76,800

Final Adjusted Net Cost: -$27,060 (Profit!)

Updated Savings Comparison: Renting vs. Buying

Total Rent Paid Over 4 Years: $105,600

Final Adjusted Net Cost of Buying (After Rental Income): -$27,060 (Profit!)

Potential Savings vs. Renting: $132,660

Final Takeaway

With this setup, not only does buying save over $132K vs. renting, but it actually turns into a profitable investment, generating $27,060 in positive cash flow over four years.
Unit Size
1,434 Ft²
Days on Market
98 days
Land Size
0.11 acres
Price per sqft
$236
Property Type
House
Property Taxes
$189
HOA Dues
-
Year Built
1960

Payment Calculator

Cap Rate Calculator

Last updated: 2 years ago (Stellar MLS #GC527446)

Price History

Date / Event Date Event Price
Apr 24, 2025 Sold
Sold
Mar 28, 2025 In contract -
In contract
Mar 12, 2025 Price Decreased $338,000
↓ $1K (0.3%)
Price Decreased
Jan 15, 2025 Listed by COMPASS FLORIDA, LLC $339,000
Listed by COMPASS FLORIDA, LLC
Jul 13, 2020 Sold
Sold
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Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1981
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 27
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 125
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,792
  • Total Building Area: 1,226
  • Gross Building Area: 1,406
  • Building Area: 1,394
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,394
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RENAISSANCE S/D
  • Land Acres: 0000000110
  • Standard Land Use Code: 1001
  • County Land Use Code: 00100
  • State Land Use Code: 001
  • Legal Description 1: RENAISSANCE S/D PB M-3 LOT 13 OR 4793/1386

Neighborhood

  • School District Name: Alachua County School District
  • Census Tract: 000201

Zoning

  • Zoning: RC

Geography

  • Assessors Map Reference: QTR SEC 3950
  • Parcel: 13510-013-000
  • Lot: 13
  • Meridian: SEC 05 TWN 10S RNG 20E
  • Municipality: GAINESVILLE
  • Latitude: 29.6577
  • Longitude: -82.3326

    Address

  • Full Address: 724 Nw 7th Ave
  • Address - House Number: 724
  • Street Direction: NW
  • Address - Street Name: 7th
  • Address - Suffix Type: Ave
  • State: FL
  • City Name: Gainesville
  • Carrier Code: C024
  • 4-Digit Zip Code: 5086
  • Zip Code: 32601

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $226,316
  • Tax Rate Code Area: 3600

    Appraisal Valuation

  • Standard Deviation: 0.23
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 68
  • Final Value: 237,374
  • High Value: 291,984
  • Low Value: 182,764

    Market Valuation

  • Market Total Value: $109,750
  • Market Land Value: $10,200
  • Market Improvement Value: $119,950

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $109,750
  • Assessed Land Value: $10,200
  • Assessed Improvements Value: $99,550

    Sales

  • Current Sale Contract Date: Jul 08, 2020
  • Current Sale Recording Date: Jul 13, 2020
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3270216
  • Previous Sale Recording Date: Dec 02, 2002
  • Previous Sale Contract Date: Dec 02, 2002
  • Previous Sale Amount: $100
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Fifth Avenue


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1410 Nw 7th Road, GAINESVILLE, FL, 32603

$2,200 /mo

  • 4 Beds
  • 3 Baths
  • 1,853 ft²
1410 Nw 7th Road, GAINESVILLE, FL, 32603 Listing by Martha McCullough
Unit for rent at 433 Se 7th Street, GAINESVILLE, FL, 32601

$2,000 /mo

  • 3 Beds
  • 2 Baths
  • 1,340 ft²
433 Se 7th Street, GAINESVILLE, FL, 32601 Listing by Connor Williams
Unit for rent at 727 Nw 4th Avenue, GAINESVILLE, FL, 32601

$1,975 /mo

  • 3 Beds
  • 2 Baths
  • 1,291 ft²
727 Nw 4th Avenue, GAINESVILLE, FL, 32601 Listing by Connor Williams


Frequently Asked Questions

When was property at 724 Northwest 7th Avenue built and last sold?
The property at 724 Northwest 7th Avenue was built in 1960 and last sold on Jul 8, 2020 for $152,000.
How much is this home worth?
The estimated value of the home located at 724 Northwest 7th Avenue is $335,427.
What are some comparable homes to 724 Northwest 7th Avenue?
There are currently no comparable homes to 724 Northwest 7th Avenue.