1424 NE 1st Ave, Gainesville, FL 32641

Under contract-accepting backup offers. Virtually Staged. PRICE REDUCED AGAIN BY $16,900!! THAT'S HUGE AND THIS PROPERTY WILL NOT LAST LONG!!nnWelcome 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.nnThis 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.nnThe 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)nnLocated near shopping, dining, parks, major roadways, and one of Floridas largest universities, this property offers strong long-term appeal for owner occupants, s