1846 51st St S · Gulfport, FL 33707

$325,000

3 bd · 1.0 ba · 1,105 sqft · SingleFamily public records · 78 Days on market

Built 1948 5,101 sqft lot Est $383k · 15% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +14.4/15.0
• Cash flow +13.9/30.0
• Schools +4.3/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new home! This Gulfport home features 3 bedrooms and 1 bath with a bonus room. As you enter this home you will note some of the original work from 1948 in the living room. Some windows have been updated, roof was done in 2020, a/c is newer, water heater is newer. Come and put your special touches on this home and make it your own. Your home is not located in a flood zone. This home was built in 1948, and is a part of Gulfport history. Close to restaurants, schools, Tangerine park, where they hold festival's.

Key facts

• Updated windows
• Newer roof
• Bonus room

Tags

• BONUS ROOM
• ORIGINAL WORK
• UPDATED WINDOWS
• NEWER ROOF
• NEWER A/C
• NEWER WATER HEATER

Property features AI

Finance

• Other: Lease restrictions apply
• HOA & community: Street lights in the community; Pets allowed (cats and dogs)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Cable connected
• Home design: Single-family residence; One story; Faces west; Residential property
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 60 x 85 lot (approximately 0.12 acre)
• Exterior features: Storage; Wood fencing; Mature landscaping with trees

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Concrete floors; Tile floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Bonus room
• Laundry & utility: Outside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $35 ($423/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (24.4% below list).
• Recommended offer: $246k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.0% in Gulfport — 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 79/100 on livability (#151 in FL, #2,285 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, schools D, amenities D.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.6%/yr); 458 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 42% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $34k; list at $325k implies a 870% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,633 (24.4% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $383,435
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5004 23rd Ave S	0.26mi	3/1.0	1,090 (-1%)	1mo	$255,000	$234	84
1720 Scranton St S	0.44mi	2/1.5 (-1)	1,108 (+0%)	2mo	$379,000	$342	70
2411 45th St S	0.55mi	3/1.0	1,125 (+2%)	3mo	$300,000	$267	69
2649 46th St S	0.64mi	2/1.0 (-1)	1,097 (-1%)	2mo	$425,000	$387	62
4533 27th Ave S	0.67mi	3/2.0	1,112 (+1%)	2mo	$420,000	$378	62
2612 46th St S	0.60mi	2/2.0 (-1)	1,063 (-4%)	0mo	$440,000	$414	56
5020 27th Ave S	0.54mi	2/1.0 (-1)	1,006 (-9%)	1mo	$315,000	$313	54
4659 9th Ave S	0.75mi	3/2.0	1,060 (-4%)	3mo	$295,000	$278	52
5406 11th Ave S	0.64mi	3/2.0	1,200 (+9%)	2mo	$459,000	$383	50
2405 44th St S	0.59mi	2/1.0 (-1)	1,000 (-10%)	3mo	$195,000	$195	50
2655 Miriam St S	0.66mi	2/1.0 (-1)	1,001 (-9%)	1mo	$409,000	$409	47
5325 11th Ave S	0.64mi	2/1.5 (-1)	965 (-13%)	1mo	$335,000	$347	41

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: -18.5%
• Equity multiple: 0.36×
• Total profit: $-57,788
• Equity at exit: $48,459

10-year hold

• IRR: -17.1%
• Equity multiple: 0.17×
• Total profit: $-75,947
• Equity at exit: $28,100

Cash invested: $91,000 (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 33707

• Rents YoY: -0.6%
• Active inventory: 458
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,456 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$65 /mo · $786/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $35

Break-even live

Break-even rent $2,412

Max offer price $325,000

Occupancy floor 94%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1933 47th St S Saint Petersburg, FL	2.0	1.0	816	$1,595	$1.95	4d	1	0.26mi
1701 53rd St S Gulfport, FL	3.0	1.0	994	$2,800	$2.82	4d	1	0.27mi
2402 52nd St S Gulfport, FL	2.0	2.0	1028	$3,000	$2.92	4d	1	0.33mi
1922 55th St S Gulfport, FL	2.0	1.0	864	$2,500	$2.89	4d	1	0.35mi
4618 20th Ave S Saint Petersburg, FL	2.0	1.0	921	$1,800	$1.95	2d	1	0.37mi
4631 Queensboro Ave S St Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	10d	1	0.38mi
4631 Queensboro Ave S Unit 4631 St. Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	7d	1	0.38mi
4601 22nd Ave S Saint Petersburg, FL	1.0–2.0	1.0	872	$1,349	$1.55	1d	3	0.38mi
2412 53rd St S Unit A Gulfport, FL	3.0	1.0	821	$2,250	$2.74	24d	1	0.38mi
4616 22nd Ave S Saint Petersburg, FL	2.0	1.0	1200	$2,400	$2.00	24d	1	0.42mi
4665 Yarmouth Ave S Saint Petersburg, FL	2.0	1.0	826	$1,950	$2.36	24d	1	0.45mi
2506 54th St S Gulfport, FL	2.0	1.0	938	$1,800	$1.92	24d	1	0.46mi
2506 54th St S Gulfport, FL	2.0	1.0	876	$1,800	$2.05	7d	1	0.46mi
4933 13th Ave S Gulfport, FL	2.0	1.0	939	$2,200	$2.34	20d	1	0.48mi
5618 20th Ave S Gulfport, FL	3.0	2.0	1289	$3,000	$2.33	24d	1	0.50mi
5713 21st Ave S Gulfport, FL	2.0	1.0	800	$1,750	$2.19	24d	1	0.57mi
2044 44th St S Saint Petersburg, FL	3.0	2.0	1384	$2,600	$1.88	21d	1	0.58mi
5609 15th Ave S Gulfport, FL	3.0	2.0	1453	$2,925	$2.01	24d	1	0.58mi
5715 21st Ave S Gulfport, FL	2.0	1.0	800	$2,000	$2.50	17d	1	0.58mi
1721 58th St S Gulfport, FL	3.0	2.0	1412	$2,400	$1.70	3d	1	0.65mi
2865 51st St S Gulfport, FL	2.0	1.0	944	$1,900	$2.01	11d	1	0.65mi
2865 51st St S Unit 5 Gulfport, FL	2.0	1.0	944	$1,900	$2.01	13d	1	0.65mi
4327 17th Ave S Saint Petersburg, FL	2.0	1.0	880	$2,500	$2.84	24d	1	0.66mi
4801 10th Ave S Unit 1 St. Petersburg, FL	3.0	1.0	1100	$2,200	$2.00	24d	1	0.67mi
4700 10th Ave S Saint Petersburg, FL	3.0	2.0	1300	$2,500	$1.92	20d	1	0.67mi
4700 10th Ave S Unit 1 St. Petersburg, FL	4.0	2.0	1300	$2,650	$2.04	24d	1	0.67mi
2800 47th St S Gulfport, FL	2.0	1.0	890	$2,300	$2.58	4d	1	0.68mi
2800 Tifton St S Gulfport, FL	3.0	2.0	1472	$3,500	$2.38	24d	1	0.70mi
1543 43rd St S Saint Petersburg, FL	4.0	2.0	1198	$3,495	$2.92	4d	1	0.70mi
1628 43rd St S Saint Petersburg, FL	3.0	2.0	1045	$2,100	$2.01	24d	1	0.73mi
2008 59th St S Gulfport, FL	2.0	1.0	1024	$2,300	$2.25	4d	1	0.73mi
1327 43rd St S Saint Petersburg, FL	3.0	1.5	959	$2,250	$2.35	4d	1	0.73mi
4537 10th Ave S Saint Petersburg, FL	4.0	2.0	1046	$2,690	$2.57	4d	1	0.75mi
4421 11th Ave S Saint Petersburg, FL	3.0	2.0	945	$2,000	$2.12	4d	1	0.75mi
5702 27th Ave S Gulfport, FL	3.0	2.0	1407	$3,300	$2.35	24d	1	0.75mi
800 51st St S Gulfport, FL	3.0	2.0	1258	$3,200	$2.54	4d	1	0.77mi
5708 27th Ave S Gulfport, FL	2.0	1.0	1407	$3,000	$2.13	4d	1	0.77mi
5850 24th Ave S Gulfport, FL	3.0	2.0	1410	$3,000	$2.13	24d	1	0.78mi
2626 58th St S Gulfport, FL	2.0	1.0	900	$2,050	$2.28	4d	1	0.78mi
3017 49th St S Unit 12 Gulfport, FL	2.0	1.0	750	$1,600	$2.13	1d	1	0.79mi

Listing history 15 events

1. 2026-06-18
   days on market $325,000 Active 78 DOM
2. 2026-06-17
   days on market $325,000 Active 77 DOM
3. 2026-06-16
   days on market $325,000 Active 76 DOM
4. 2026-06-15
   days on market $325,000 Active 75 DOM
5. 2026-06-13
   days on market $325,000 Active 73 DOM
6. 2026-06-09
   days on market $325,000 Active 69 DOM
7. 2026-06-08
   days on market $325,000 Active 68 DOM
8. 2026-06-07
   days on market $325,000 Active 67 DOM
9. 2026-06-04
   days on market $325,000 Active 64 DOM
10. 2026-06-03
    days on market $325,000 Active 63 DOM
11. 2026-06-01
    days on market $325,000 Active 61 DOM
12. 2026-05-31
    days on market $325,000 Active 60 DOM
13. 2026-04-01
    listed $325,000 Active
14. 2021-10-17
    listed $254,999 Active
15. 1985-12-01
    soldstatus $33,500

ⓘ 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: $786 · $65/mo
• Projected year-2 tax: $2,698 · $225/mo
• Expected delta: +$1,912/yr (+$159/mo · 243.4%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,476
• − Mortgage interest: −$18,205
• − Property taxes: −$786
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$9,455
• Taxable loss: −$5,310
• Est. tax savings @ 24.0%: +$1,274
• After-tax cash flow: $1,698/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: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Gulfport

• Score: 79/100
• State rank: #151
• US rank: #2285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulfport, FL
• County: Pinellas County · 939,478 people
• City population: 24,324
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 24,324
• Household income: $69,951
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 1371.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -555.96%
• Current HPI: 359.4858
• Rent YoY: ▼ -0.61%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+870.1% since first listed

3 events — show timeline

• 2026-04-01 Listed $325,000 Stellar MLS as Distributed by MLS Grid
• 2021-10-17 Listed $254,999 Stellar MLS as Distributed by MLS Grid
• 1985-12-01 Sold (Public Records) $33,500 Public Records

Property tax history

-3.2%/yr

Latest (2025): $786 · +8.3% YoY. Source: county tax records.