311 58th Ave E · Bayshore Gardens, FL 34203

$499,000

6 bd · 4.0 ba · 1,980 sqft · MultiFamily public records · 73 Days on market

Built 1983 8,750 sqft lot Est $402k · 24% over

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +12.8/30.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• DSCR +3.8/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

Key facts

• Rental cash flow
• Coastal design
• Tenant occupied

Tags

• NEWLY RENOVATED
• RENTAL CASH FLOW
• LONG TERM LEASE AGREEMENTS
• TENANT OCCUPIED
• COASTAL DESIGN
• NEW APPLIANCES

Property features AI

Finance

• Financial info: Two-unit property; Annual net income reported: $40,000
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Electricity connected/available; Cable connected; Water and sewer available/connected
• Home design: Duplex (residential income property); One building
• Construction: Block, concrete and stucco construction; Shingle roof; Slab foundation; Built using durable masonry materials
• Exterior features: Exterior lighting; Private mailbox; Sidewalk

Interior

• Kitchen: Dishwasher; Range; Range hood; Microwave; Refrigerator; Ice maker; Exhaust fan; Electric water heater
• Bedrooms: Six bedrooms total (configured as two 3-bedroom units)
• Flooring: Laminate; Tile
• Bathrooms: Four bathrooms total (each 3-bedroom unit has 2 bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen/family room combo; Thermostat
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $-42 ($-507/yr) — negative. Per door: $-21/mo.
• To cash-flow at today's rent, offer at most $492k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (20.0% below list).
• Recommended offer: $399k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.7% in Bayshore Gardens — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#72 in FL, #1,180 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute C-, schools F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.0%/yr); 384 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• At $3,991/mo this rent would consume 68% of the median local household income ($71k/yr) (locally 1469% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($469k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 4y ago; this cycle's ask has dropped $86k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $305k; list at $499k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,100 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $401,940
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5801 8th Street Ct E	0.37mi	6/4.0	1,982 (+0%)	3mo	$414,900	$209	80
1015-1017 58th Avenue Dr E	0.51mi	6/4.0	1,988 (+0%)	3mo	$380,000	$191	73
915 58th Avenue Dr E	0.45mi	6/4.0	1,872 (-6%)	5mo	$380,000	$203	66
508 60th Ave E	0.35mi	6/4.0	1,988 (+0%)	20mo	$425,000	$214	66
1004 58th Avenue Dr E	0.47mi	5/4.0 (-1)	1,944 (-2%)	6mo	$365,000	$188	65
1026 61st Avenue Dr E	0.74mi	6/4.0	1,992 (+1%)	5mo	$415,000	$208	60
604 60th Avenue Dr W	0.55mi	6/4.0	2,112 (+7%)	12mo	$370,000	$175	53
1218 57th Ave E	0.66mi	6/4.0	1,952 (-1%)	22mo	$367,150	$188	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-95,343
• Equity at exit: $74,403

10-year hold

• IRR: -20.7%
• Equity multiple: 0.05×
• Total profit: $-132,077
• Equity at exit: $43,144

Cash invested: $139,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34203

• Home prices YoY: -24.5%
• Rents YoY: -1.0%
• Active inventory: 384
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $3,991 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$370 /mo · $4,445/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $-42

Break-even live

Break-even rent $4,044

Max offer price $491,535

Occupancy floor 96%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,990
Total (2 units)			$3,991

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 59th Avenue Ter W Bradenton, FL	5.0	2.0	1700	$2,645	$1.56	19d	1	0.53mi

Listing history 45 events

1. 2026-06-15
   status $499,000 Pending 73 DOM
2. 2026-06-15
   days on market $499,000 Active 73 DOM
3. 2026-06-13
   days on market $499,000 Active 71 DOM
4. 2026-06-13
   days on market $499,000 Active 70 DOM
5. 2026-06-10
   days on market $499,000 Active 68 DOM
6. 2026-06-09
   days on market $499,000 Active 67 DOM
7. 2026-06-08
   days on market $499,000 Active 66 DOM
8. 2026-06-08
   days on market $499,000 Active 65 DOM
9. 2026-06-03
   days on market $499,000 Active 61 DOM
10. 2026-06-02
    pricedays on market $499,000 Active 60 DOM
11. 2026-06-01
    days on market $525,000 Active 59 DOM
12. 2026-05-31
    days on market $525,000 Active 58 DOM
13. 2026-05-14
    price $525,000
14. 2026-04-28
    price $545,000
15. 2026-04-17
    price $565,000
16. 2026-04-03
    listed $585,000 Active
17. 2025-12-23
    historical $2,195
18. 2025-12-19
    listed $2,195
19. 2025-12-16
    historical
20. 2025-10-05
    listed $549,000 Active
21. 2024-04-09
    historical $1,995
22. 2024-03-29
    listed $1,995
23. 2024-03-21
    historical $1,995
24. 2024-03-12
    listed $1,995
25. 2023-10-26
    historical $1,995
26. 2023-10-23
    listed $1,995
27. 2023-10-21
    historical $1,995
28. 2023-09-20
    listed $1,995
29. 2023-09-10
    historical $1,995
30. 2023-09-08
    listed $1,995
31. 2023-08-04
    soldstatus $305,000 Closed 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

32. 2023-07-21
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

33. 2023-07-15
    status Active 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

34. 2023-06-30
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

35. 2023-04-30
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

36. 2023-03-24
    status Active 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

37. 2023-03-17
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

38. 2023-03-17
    status Active 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

39. 2023-02-10
    price $355,000 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

40. 2023-01-21
    status Active 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

41. 2022-11-19
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

42. 2022-10-26
    listed $352,440 Active 183-char remark

    Show marketing remark (183 chars)

    Under contract-accepting backup offers. BACK ON THE MARKET! BUYER WAS UNABLE TO OBTAIN FINANCING. This property includes 311 & 313 58th Avenue East, Bradenton, FL. SOLD AS-IS.

43. 2000-01-19
    soldstatus $69,000
44. 1996-05-22
    soldstatus $52,500
45. 1992-09-24
    soldstatus $54,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,445 · $370/mo
• Projected year-2 tax: $4,445 · $370/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,892
• − Mortgage interest: −$27,952
• − Property taxes: −$4,445
• − Insurance: −$2,495
• − Repairs & maintenance: −$3,831
• − Management: −$3,831
• − Depreciation: −$14,516
• Taxable loss: −$9,179
• Est. tax savings @ 24.0%: +$2,203
• After-tax cash flow: $1,696/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Bayshore Gardens

• Score: 82/100
• State rank: #72
• US rank: #1180

Category grades

Amenities B- Commute C- Cost of living A+ Crime C- Employment F Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• City population: 227,091
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 40,618
• Household income: $70,761
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1469.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 9% Asian 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Vietnam, Dominican Republic
• Languages at home: 76% English-only · Spanish 16% Vietnamese 2% Other Indo-European 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.87%
• Current HPI: 295.8871
• Rent YoY: ▼ -0.97%
• Metro: North Port-Sarasota-Bradenton, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+863.3% since first listed

33 events — show timeline

• 2026-05-14 Price Changed $525,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $545,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $565,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Listed $585,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-23 Rental Removed $2,195 STELLARMLS
• 2025-12-19 Listed for Rent $2,195 STELLARMLS
• 2025-12-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-05 Listed $549,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-09 Rental Removed $1,995 STELLARMLS
• 2024-03-29 Listed for Rent $1,995 STELLARMLS
• 2024-03-21 Rental Removed $1,995 STELLARMLS
• 2024-03-12 Listed for Rent $1,995 STELLARMLS
• 2023-10-26 Rental Removed $1,995 LISTANZA
• 2023-10-23 Listed for Rent $1,995 LISTANZA
• 2023-10-21 Rental Removed $1,995 STELLARMLS
• 2023-09-20 Listed for Rent $1,995 STELLARMLS
• 2023-09-10 Rental Removed $1,995 STELLARMLS
• 2023-09-08 Listed for Rent $1,995 STELLARMLS
• 2023-08-04 Sold (MLS) $305,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-07-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-06-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-04-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-03-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-03-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-03-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-02-10 Price Changed $355,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-11-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-10-26 Listed $352,440 Stellar MLS as Distributed by MLS Grid
• 2000-01-19 Sold (Public Records) $69,000 Public Records
• 1996-05-22 Sold (Public Records) $52,500 Public Records
• 1992-09-24 Sold (Public Records) $54,500 Public Records

Property tax history

+14.1%/yr

Latest (2025): $4,445 · +0.5% YoY. Source: county tax records.