Homes for sale - 724 NW 7TH AVE, Gainesville, FL 32601

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Ricardo S Ortiz

ricardo@ricardosortiz.realtor +1(941) 315-5799

$ 338,000

Est. payment | -/mo

3 Beds

2 Baths

1,434 SqFt

Save Virtual Tour

$ 338,000

Est. payment | -/mo

Save Virtual Tour

3 Beds

2 Baths

1,434 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,434 sqft

Price per Sqft $235

Subdivision Renaissance Sub

MLS Listing ID GC527446

Bedrooms 3

Full Baths 2

HOA Y/N No

Originating Board Stellar MLS

Year Built 1960

Annual Tax Amount $2,263

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type Single Family Residence

Property Description

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.

Location

State FL

County Alachua

Community Renaissance Sub

Zoning RC

Interior

Interior Features Ceiling Fans(s), Open Floorplan, Other, Primary Bedroom Main Floor, Split Bedroom, Stone Counters

Heating Central

Cooling Central Air

Flooring Luxury Vinyl, Tile

Fireplace false

Appliance Dishwasher, Disposal, Dryer, Electric Water Heater, Range, Refrigerator, Washer

Laundry Inside, Laundry Room

Exterior

Exterior Feature Balcony, Lighting, Sidewalk, Storage

Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Natural Gas Connected, Public, Sewer Connected, Water Connected

Roof Type Metal

Porch Covered, Deck, Front Porch, Patio, Rear Porch, Side Porch

Garage false

Private Pool No

Building

Story 1

Entry Level One

Foundation Crawlspace

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Architectural Style Cottage, Craftsman

Structure Type HardiPlank Type

New Construction false

Others

Pets Allowed Cats OK, Dogs OK, Yes

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/GC527446

Listed by COMPASS FLORIDA, LLC

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(941) 315-5799

ricardo@ricardosortiz.realtor

Venice, Florida, 34293, USA

724 NW 7TH AVE Gainesville, FL 32601