Kensington South Townhome-Style
For Sale
$192,000
Pending
3901 SW 20TH AVENUE 807, Gainesville, FL 32608
Move-in ready condo near UF, Shands, and Celebration Point.
Property Size1,176 SF
Days on Market553
Property Features for 3901 SW 20TH AVENUE 807
General Information
Standard status
Pending
Size
1,176 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,128
Building Details
Year Built
2001
Listing Agency:
WATSON REALTY CORP- TIOGA
(352) 327-0875
Listed By:
Kyle Hoppenworth · License #3510656
(352) 327-0875
Source:
Exitrealty
Added: Feb 3, 2025
Changed: Aug 8
Last Checked: Aug 10 at 5:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WATSON REALTY CORP- TIOGA
Investment Insights
Based on property information with market context.
This move-in ready, two-story townhome-style condo is located in Kensington South on SW 20th Ave, offering convenient access to UF, Shands, Butler Plaza, and Celebration Point. The 1,176 square foot residence features two bedrooms and two and a half bathrooms. The first floor includes a large living room, kitchen, half bathroom, laundry room, and access to the back patio. A utility closet houses a washer and dryer, and provides additional storage space. The first floor has title flooring, while the second floor features vinyl wood. Upstairs, two spacious bedrooms each have large closets and ensuite bathrooms with updated vanities. Community amenities include a pool, fitness center, clubhouse, and high-speed internet. Direct bus routes are available on SW 20th Ave. This property presents an opportunity for investment or as a new home.
Key Highlights
- Move‑in ready 2 bed, 2.5 bath townhome‑style condo.
- Prime location near UF, Shands, Butler Plaza, and Celebration Point.
- Enjoy community amenities including a pool, fitness center, clubhouse, and high‑speed internet.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$207,200
$207.2K
Cap Rate 7%
$148,000
$148.0K
Cap Rate 9%
$115,111
$115.1K
Market Conditions
NOI Build-Up for 1,176 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.0K $17.04/SF
− Vacancy
−$1.2K −$1.02/SF
EGI
$18.8K $16.02/SF
− OpEx
−$8.5K −$7.21/SF
NOI
$10.4K $8.81/SF
Area
Gainesville, FL
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$207,200
Cap Rate 7%
$148,000
Cap Rate 9%
$115,111
Alternative Uses
Best Use
Apartment 5plus
$148.0K
$129.5K – $172.7K
NOI $10,360 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.3K
$254.9K – $339.8K
NOI $20,389 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 32608, FL
55,540
Population
25,939
Households
2.1
Avg Household Size
29
Median Age
58%
College-Educated
95%
High-School Grad
44.5 sq mi
ZIP Area
1,248
Density / Sq Mi
$60,182
Median Household Income
$34,991
Median Earnings
$1,357
Median Rent
$340,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in ready condo near UF, Shands, and Celebration Point.
Where is this residential income property located?
The property is located at 3901 SW 20TH AVENUE 807 Gainesville, FL.
What is the asking price?
The asking price for this property is $192,000.
What are key features of this property?
This property features: Move‑in ready 2 bed, 2.5 bath townhome‑style condo.; Prime location near UF, Shands, Butler Plaza, and Celebration Point.; Enjoy community amenities including a pool, fitness center, clubhouse, and high‑speed internet.
