USAFLGainesvilleLakeway Grove-In New Gv1424 Ne 1St Ave

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$148,000

Other

3 months ago

1424 Ne 1St Ave, Gainesville, FL

House

MLS® GC539656

2 Bed

1 Bath

922 sqft

Key Facts
Description
Rooms
Map

Key Facts

Type Single Family Residence

Levels Residential

Size 922 sqft

Garage

Taxes $1,591

Days Active 97

Lot Size 0.14 Acres

Approx. Age 1947

Avg. Price Per Sqft $160

MLS® Number GC539656

Property Address: 1424 Ne 1st Ave, GAINESVILLE, FL, 32641-5775

Average square foot calculated using Size range provided by listing agent.

Description

Under contract-accepting backup offers. Virtually Staged. PRICE REDUCED AGAIN BY $16, 900!! THAT'S HUGE AND THIS PROPERTY WILL NOT LAST LONG!! Welcome to 1424 NE 1st Ave - an affordable opportunity with AMAZING income potential just minutes from the University of Florida and downtown Gainesville. Whether you are a first-time homebuyer looking to offset your future housing costs or an investor searching for your next value-add property, this one stands out from the crowd. This 2 bedroom, 1 bathroom home offers 922 square feet of living space on a spacious lot with U2 zoning, creating the potential for an Accessory Dwelling Unit (ADU) and additional income opportunities over time. Opportunities at this price point with flexible zoning this close to UF are becoming increasingly difficult to find. The existing home is projected to rent for approximately $1, 200 to $1, 500 a month, while a future ADU could potentially generate an additional $900 to $1, 400 a month depending on configuration and use. Preliminary contractor pricing for ADU development is available upon request, and preferred lender has indicated potential FHA 203k renovation loan eligibility for qualified buyers looking to finance improvements into the purchase. (CREDITS AVAILABLE FROM PREFERRED LENDER AND SELLER TO ASSIST WITH CLOSING COSTS UP TO $3, 300) Located near shopping, dining, parks, major roadways, and one of Florida’s largest universities, this property offers strong long-term appeal for owner occupants, student housing demand, mid-term rentals, or buyers looking to build equity through strategic improvements. If you have been searching for an affordable Gainesville property with flexibility, future upside, and proximity to UF and downtown, this is one you do not want to miss. Seller is motivated. Schedule your private showing today. Buyer to independently verify zoning, ADU feasibility, permitting requirements, financing eligibility, rental restrictions, and all projected income estimates.

MLS® NumberGC539656

Laundry LevelEnsuite

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1947

Basement

Driveway

Garage Spaces

HeatElectric

A/CCentral Air

Extras

Price History

-End Date

Not Sold YetSold Price

Other

Apr 22, 2026List Date

$148,000List Price

Home Appraisal

This property is estimated to sell between: $148,000 and $256,000.

Similar properties in this area sold on average for: $219,950

Expected to sell very soon! Similar properties sold in 73 days. This home has been on eXp Realty for 97 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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