1524 & 1528 28th St W · Bradenton, FL 34205

$450,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 80 Days on market

Built 1985 10,032 sqft lot Est $450k · at est.

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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).

• Cash flow +12.8/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• 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

Well-maintained duplex in Bradenton. Each unit features 2 bed/2 bath, private entrances, separate driveways, and individual yard spaces. Recent updates include roof replacement (2024) and interior doors (2025). One unit is currently tenant-occupied, providing rental income; the other is available. Sold as-is.

Key facts

• Interior doors
• Private entrances
• Separate driveways

Tags

• PRIVATE ENTRANCES
• SEPARATE DRIVEWAYS
• INDIVIDUAL YARD SPACES
• ROOF REPLACEMENT
• INTERIOR DOORS

Property features AI

Finance

• Other: Zoning: R1C
• Financial info: Two total units (2-bedroom units); One unit currently occupied; Pro forma rent per unit: $2,100; Annual net income reported as $0.00
• HOA & community: No HOA

Exterior

• Utilities: Public water; Public sewer; Public utilities
• Home design: Residential income property (duplex); One building; Total acreage less than 1/4 acre; Lot dimensions approximately 76.5 x 132
• Construction: Stucco exterior; Shingle roof; Slab foundation
• Exterior features: Fenced yard; Asphalt road access

Interior

• Bedrooms: Four bedrooms total
• Bathrooms: Two bathrooms (per 2-bedroom unit)
• Heating & cooling: Zoned heating; Zoned cooling
• Interior features: Open floorplan
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $-43 ($-518/yr) — negative. Per door: $-22/mo.
• To cash-flow at today's rent, offer at most $442k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (17.3% below list).
• Recommended offer: $372k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.6% in Bradenton — 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 81/100 on livability (#101 in FL, #1,528 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime D, amenities 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 (-2.4%/yr); 319 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• At $3,720/mo this rent would consume 85% of the median local household income ($53k/yr) (locally 1736% 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 $14k 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 80 days — a 6% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $149k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $450k implies a 2712% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $372,000 (17.3% 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 80 days. Have you received any prior offers? Is the seller open to a 17% 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. 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?
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: 0.83% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $449,568
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1524 & 1528 28th St W	0.00mi	4/4.0	2,016 (0%)	1mo	$450,000	$223	91
1415 26th St W #1	0.19mi	3/3.0 (-1)	2,123 (+5%)	8mo	$475,000	$224	67
2508 20th Ave W	0.31mi	3/3.0 (-1)	2,094 (+4%)	14mo	$295,000	$141	58
2008 20th Street Ct W	0.57mi	3/3.0 (-1)	1,872 (-7%)	1mo	$350,000	$187	52
1414 17th St W	0.70mi	4/3.0	1,838 (-9%)	1mo	$435,000	$237	47
2001 14th Ave W	0.53mi	5/3.0 (+1)	1,860 (-8%)	9mo	$406,500	$219	46

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: -20.3%
• Equity multiple: 0.31×
• Total profit: $-86,591
• Equity at exit: $67,096

10-year hold

• IRR: -21.4%
• Equity multiple: 0.04×
• Total profit: $-121,161
• Equity at exit: $38,908

Cash invested: $126,000 (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 34205

• Rents YoY: -2.4%
• Active inventory: 319
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $3,720 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$435 /mo · $5,215/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$781
• Net cashflow: $-43

Break-even live

Break-even rent $3,775

Max offer price $442,381

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,720
Total (2 units)			$3,720

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1417 27th St W Bradenton, FL	3.0	2.0	2800	$2,800	$1.00	21d	1	0.11mi
3301 19th Ave W Bradenton, FL	4.0	2.0	1750	$7,200	$4.11	24d	1	0.38mi
1214 21st St W Bradenton, FL	3.0	3.0	1841	$4,300	$2.34	24d	1	0.47mi
3109 22nd Ave W Bradenton, FL	3.0	2.0	1509	$2,541	$1.68	12d	1	0.48mi
3807 16th Ave W Bradenton, FL	3.0	2.0	1491	$2,100	$1.41	24d	1	0.57mi
2004 20th Ave W Bradenton, FL	3.0	2.0	1650	$2,395	$1.45	24d	1	0.58mi
520 22nd St W Unit 1071597P Bradenton, FL	3.0	2.0	1582	$4,235	$2.68	2d	1	0.73mi
4215 18th Avenue Dr W Bradenton, FL	4.0	2.0	2031	$2,995	$1.47	10d	1	0.85mi
2916 24th St W Bradenton, FL	3.0	2.0	1764	$1,800	$1.02	24d	1	0.86mi
1623 8th Ave W Bradenton, FL	3.0	2.0	1650	$3,500	$2.12	2d	1	0.87mi
4904 19th Ave W Bradenton, FL	3.0	2.0	1762	$4,000	$2.27	15d	1	1.27mi
5004 22nd Ave W Bradenton, FL	3.0	2.0	1577	$2,500	$1.59	3d	1	1.37mi
5111 13th Avenue Dr W Bradenton, FL	3.0	2.0	1778	$3,700	$2.08	24d	1	1.40mi
3409 45th St W Bradenton, FL	3.0	3.0	1937	$8,500	$4.39	24d	1	1.49mi

Listing history 8 events

1. 2026-05-02
   status Pending
2. 2026-04-27
   price $450,000
3. 2026-04-01
   price $489,000
4. 2026-03-05
   price $529,000
5. 2026-02-11
   listed $599,000 Active
6. 2026-02-11
   historical
7. 2026-01-21
   listed $599,000 Active
8. 1985-03-01
   soldstatus $16,000

ⓘ 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: $5,215 · $435/mo
• Projected year-2 tax: $5,215 · $435/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 · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,640
• − Mortgage interest: −$25,207
• − Property taxes: −$5,215
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,571
• − Management: −$3,571
• − Depreciation: −$13,091
• Taxable loss: −$8,265
• Est. tax savings @ 24.0%: +$1,984
• After-tax cash flow: $1,466/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 — Bradenton

• Score: 81/100
• State rank: #101
• US rank: #1528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bradenton, FL
• County: Manatee County · 416,364 people
• City population: 227,091
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 31,946
• Household income: $52,525
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1736.0

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 18% Black 10% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 1%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 78% English-only · Spanish 14% French/Haitian/Cajun 2% German/W. Germanic 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: ▼ -310.18%
• Current HPI: 369.8239
• Rent YoY: ▼ -2.43%
• 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

+2712.5% since first listed

8 events — show timeline

• 2026-05-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $450,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $489,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $529,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Listed $599,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-21 Listed $599,000 Stellar MLS as Distributed by MLS Grid
• 1985-03-01 Sold (Public Records) $16,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $5,215 · +4.6% YoY. Source: county tax records.