1221 E 28th Ave · Tampa, FL 33605

$185,000

2 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 20 Days on market

Built 1972 4,655 sqft lot

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Why this score? — see what drove the C+ 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 +20.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this charming corner-lot home situated on a spacious lot in one of Tampa’s fastest-growing redevelopment areas. This property features upgraded granite countertops, select stainless steel kitchen appliances, extended outdoor space, and a flexible layout full of potential. Currently occupied by a month-to-month tenant, giving the next owner flexibility to continue renting, renovate, Airbnb, or move in. Conveniently located just minutes from Downtown Tampa, Riverwalk, Ybor City, the Gasworx development, the University of Tampa, and major highways including I-4 and I-275. With no HOA, no CDD, and no flood zone, this property presents an excellent opportunity for investors or o

Key facts

• No cdd
• Flexible layout
• Corner-lot

Tags

• CORNER-LOT
• UPGRADED GRANITE COUNTERTOPS
• EXTENDED OUTDOOR SPACE
• FLEXIBLE LAYOUT
• NO HOA
• NO CDD

Property features AI

Finance

• Other: Zoned RS-50; No CDD; Not homesteaded; Unfurnished; No lease restrictions; Universal property ID available

Exterior

• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available; Electricity available; Sewer connected; Water available
• Home design: Single family residence; Residential property; One story; Faces north; Entry level: One
• Construction: Frame construction; Shingle roof; Pillar/post/pier and slab foundation; Built on lot of approximately 0.11 acres (49 x 95)
• Exterior features: Private mailbox; Sidewalk

Interior

• Kitchen: Convection oven; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Stone counters; Thermostat
• Laundry & utility: Laundry inside; Laundry outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Potter Elementary School (math 32% / reading 22%, grade F, #1,969 of 2,144 statewide, top 94%, 472 students, 89% FRL); Mclane Middle School (math 20% / reading 20%, grade F, #558 of 571 statewide, top 98%, 817 students, 74% FRL); Middleton High School (math 23% / reading 51%, grade F, #340 of 667 statewide, top 52%, 1,511 students, 57% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• At $1,868/mo this rent would consume 61% of the median local household income ($37k/yr) (locally 1374% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.6% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $185k implies a 741% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.58% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.16×
• Total profit: $111,880
• Equity at exit: $166,663

10-year hold

• IRR: 23.3%
• Equity multiple: 6.97×
• Total profit: $309,074
• Equity at exit: $359,414

Cash invested: $51,800 (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 33605

• Home prices YoY: 3.7%
• Rents YoY: 0.6%
• Active inventory: 190
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$970
• Tax from tax record: −$184 /mo · $2,210/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $244

Break-even live

Break-even rent $1,559

Max offer price $185,000

Occupancy floor 82%

Sensitivity live

Price	-10% $349	-5% $297	+0% $244	+5% $192	+10% $140
Rent	-10% $97	-5% $171	+0% $244	+5% $318	+10% $392
Rate	-1.0pp $338	-0.5pp $291	base $244	+0.5pp $196	+1.0pp $148

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3411 N 13th St Tampa, FL	3.0	2.0	978	$1,895	$1.94	26d	1	0.06mi
1105 E 28th Ave Tampa, FL	3.0	1.0	744	$1,525	$2.05	6d	1	0.09mi
3511 Cone Ct Tampa, FL	3.0	2.0	1256	$2,200	$1.75	6d	1	0.16mi
1212 E 25th Ave Tampa, FL	2.0	1.0	1035	$1,490	$1.44	21d	1	0.18mi
1006 E 26th Ave Tampa, FL	2.0	1.0	1000	$1,630	$1.63	6d	1	0.21mi
1305 E Louise Ave Tampa, FL	3.0	2.0	1384	$2,700	$1.95	26d	1	0.23mi
3519 N 10th St Tampa, FL	3.0	2.0	1200	$1,850	$1.54	19d	1	0.23mi
1515 E 31st Ave Tampa, FL	2.0	1.0	914	$1,500	$1.64	6d	1	0.31mi
1605 E 29th Ave Tampa, FL	3.0	1.0	870	$1,800	$2.07	22d	1	0.34mi
1302 E 21st Ave Tampa, FL	1.0–2.0	1.0–2.0	800	$1,408	$1.76	1d	8	0.36mi
3021 Sanchez St Tampa, FL	3.0	1.0	1300	$2,195	$1.69	26d	1	0.36mi
803 E Lake Ave Unit C 3 Tampa, FL	2.0	1.0	700	$995	$1.42	0d	1	0.38mi
1003 E 22nd Ave Tampa, FL	2.0	1.0	1062	$1,639	$1.54	6d	1	0.38mi
1504 E 33rd Ave Tampa, FL	3.0	2.0	1108	$2,900	$2.62	26d	1	0.39mi
709 E James St Tampa, FL	2.0	1.0	768	$1,695	$2.21	14d	1	0.39mi
809 E Baker St Unit A Tampa, FL	3.0	1.0	1083	$2,200	$2.03	26d	1	0.40mi
3005 Sanchez St Unit 5 Tampa, FL	2.0	1.0	750	$1,050	$1.40	1d	1	0.42mi
3005 Sanchez St Unit 5 Tampa, FL	2.0	1.0	750	$1,050	$1.40	4d	1	0.42mi
912 E Saint Clair St Tampa, FL	2.0	1.0	1000	$1,900	$1.90	26d	1	0.46mi
2907 N 15th St Unit D Tampa, FL	3.0	2.0	888	$1,850	$2.08	6d	1	0.51mi
1211 E 18th Ave Unit 2 Tampa, FL	2.0	1.0	725	$1,700	$2.34	0d	1	0.53mi
4207 N 13th St Unit A Tampa, FL	2.0	2.0	832	$2,150	$2.58	26d	1	0.55mi
2909 N 17th St Tampa, FL	2.0	1.0	750	$1,350	$1.80	23d	1	0.58mi
2810 N 16th St Tampa, FL	2.0	1.0	1066	$2,550	$2.39	14d	1	0.58mi
1602 E North Bay St Tampa, FL	3.0	2.0	1200	$2,100	$1.75	26d	1	0.59mi
1607 E 18th Ave Tampa, FL	2.0	1.0	869	$2,600	$2.99	14d	1	0.62mi
1807 E 20th Ave Tampa, FL	3.0	2.0	1131	$2,900	$2.56	26d	1	0.63mi
1221 E Columbus Dr Tampa, FL	2.0	1.0	1000	$1,499	$1.50	26d	1	0.64mi
1301 E Columbus Dr Unit 1 Tampa, FL	1.0	1.0	750	$1,995	$2.66	26d	1	0.65mi
1003 E Columbus Dr Tampa, FL	2.0	1.0	1160	$1,795	$1.55	3d	1	0.66mi
411 E Adalee St Tampa, FL	3.0	1.0	1200	$2,500	$2.08	26d	1	0.67mi
807 E Genesee St Unit 1/2 Tampa, FL	3.0	2.0	1414	$2,400	$1.70	23d	1	0.67mi
807 E Genesee St Tampa, FL	3.0	2.0	1414	$2,400	$1.70	21d	1	0.68mi
1003 E 15th Ave Tampa, FL	1.0	1.0	750	$1,275	$1.70	26d	1	0.70mi
1301 E Cayuga St Tampa, FL	3.0	1.5	1216	$2,200	$1.81	26d	1	0.72mi
2205 Chipco St Tampa, FL	2.0	1.0	1100	$1,600	$1.45	26d	1	0.72mi
1716 E Columbus Dr Unit A Tampa, FL	2.0	1.0	924	$1,800	$1.95	26d	1	0.73mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	5d	1	0.73mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	6d	1	0.73mi
1709 E Chelsea St Unit F Tampa, FL	2.0	1.0	1041	$1,625	$1.56	25d	1	0.74mi

Listing history 14 events

1. 2026-06-21
   days on market $185,000 Active 20 DOM
2. 2026-06-18
   days on market $185,000 Active 17 DOM
3. 2026-06-17
   days on market $185,000 Active 16 DOM
4. 2026-06-16
   days on market $185,000 Active 15 DOM
5. 2026-06-15
   days on market $185,000 Active 14 DOM
6. 2026-06-13
   days on market $185,000 Active 12 DOM
7. 2026-06-13
   days on market $185,000 Active 11 DOM
8. 2026-06-09
   days on market $185,000 Active 8 DOM
9. 2026-06-08
   days on market $185,000 Active 7 DOM
10. 2026-06-07
    days on market $185,000 Active 6 DOM
11. 2026-06-04
    days on market $185,000 Active 3 DOM
12. 2026-06-03
    days on market $185,000 Active 2 DOM
13. 2026-06-02
    remarks 693-char remark
14. 2026-06-02
    listed $185,000 Active 1 DOM

ⓘ 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: $2,210 · $184/mo
• Projected year-2 tax: $2,210 · $184/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 ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,418
• − Mortgage interest: −$10,363
• − Property taxes: −$2,210
• − Insurance: −$925
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$5,382
• Taxable loss: −$49
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $2,945/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 16,030
• Household income: $36,975
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1374.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 48% Hispanic / Latino 28% Two or more races 18% White 17% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 8% Cuban 6% Dominican 1%
• Common ancestry: Hispanic 2% Romanian 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 24% French/Haitian/Cajun 3% Other Asian/Pacific 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.43%
• Current HPI: 494.1871
• Rent YoY: ▲ 0.58%
• 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

+740.9% since first listed

2 events — show timeline

• 2026-06-02 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 1998-07-28 Sold (Public Records) $22,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,210 · +11.5% YoY. Source: county tax records.