6703 SW 40TH TERRACE, GAINESVILLE, FL, 32608
Active443 days on marketListed May 16, 2025MLS #GC530934
About this home
6703 SW 40TH TERRACE
Tucked inside the gated community of Savanna Pointe, this vacant lot offers a chance to build in a prime Gainesville location just minutes from UF, Shands, the VA, Celebration Pointe, Butler Plaza, and easy access to I-75. This parcel allows for your choice of builder, with architectural approval required by the community’s Review Committee before closing. After the purchase agreement is signed, the buyer has 90 days to submit plans for the home, including floor plans, elevations, a site plan, and builder information. At closing, the buyer pays a $2,500 Impact Fee and a Construction Compliance Fee to the Savanna Pointe Community Association. The Compliance Fee is refundable once construction is complete and meets approved specifications. HOA dues apply while the lot is vacant and will adjust once the home is finished. A great option for building something new in a well-established, well-located neighborhood.
Facts & features
The home at a glance
0.18 ac
Lot size
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$880 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$880/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Where it sits
Inside Gainesville
Get to know Gainesville. See the full Gainesville guide →
GAINESVILLE 32608 — neighborhood snapshot
Population
53,966
Median age
30.2
Median income
$60,182
Median home value
$340,200
Avg household
2.3
Households w/ children
4,332
For the school run
Alachua County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Gainesville market
$320K → $312K
Gainesville median sold, yr/yr
96.6%
Sale-to-list ratio (12 mo)
Median sold price, Gainesville, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 73% below the GAINESVILLE 32608 median. See the full Gainesville market guide →
Paper trail
This home's history
Reality check
What actually sold near 6703 SW 40TH TERRACE
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Sep ’25$510,000
4002 SW 69TH AVENUE · same community
4 bd · 3 ba · 2,141 sqft · $238/sqft · 26 DOM
Sold · Sep ’25$198,000
4901 SW 46TH STREET
3 bd · 1 ba · 1,040 sqft · $190/sqft · 0 DOM
Sold · Apr ’26$240,000
4625 SW 47TH WAY
2 bd · 2 ba · 1,228 sqft · $195/sqft · 11 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 6703 SW 40TH TERRACE — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 6703 SW 40TH TERRACE — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
6703 SW 40TH TERRACE FAQs
What would the monthly payment be for 6703 SW 40TH TERRACE?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $880/mo — principal and interest, the actual property-tax bill, the $207/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 6703 SW 40TH TERRACE?+
The association fee works out to $207 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 6703 SW 40TH TERRACE?+
The most recent tax bill on record (2024) was $1,605. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 6703 SW 40TH TERRACE?+
The listing reports pets: Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Gainesville?+
At $60,000, this home is listed about 80% below the Gainesville median of $295,500. The market section on this page shows how the area is trending.
Which schools are assigned to 6703 SW 40TH TERRACE?+
Idylwild Elementary School (elementary), Kanapaha Middle School (middle), Eastside High School (high) — Alachua County School District. Always verify school assignments with the district before relying on them.
The brief
Three things that matter here
01Under the GAINESVILLE 32608 market on paper
$60,000 is 73% below the GAINESVILLE 32608 median of $220,000.
02Time on market is leverage
443 days on market against a Gainesville median of 36 — sellers in this position are usually ready to negotiate.
03The price has already moved
Listed at $81,000, now $60,000 — a $21K cut. The full history is in the market section below.
Keep looking
Similar homes nearby
Listing courtesy of KELLER WILLIAMS GAINESVILLE REALTY PARTNERS · Morgan Ellerth. MLS #GC530934.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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