5027 28th Ave S · Gulfport, FL 33707

$389,000

4 bd · 4.0 ba · 1,360 sqft · MultiFamily · 18 Days on market

Built 1949 Good condition 8,599 sqft lot

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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 +12.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.3/5.0
• 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

Tucked into the heart of Gulfport, just blocks from the Beach Boulevard arts district, the waterfront, and the weekly Tuesday Fresh Market, this 1949 concrete-block duplex offers two cozy 1-bedroom, 1-bath homes, each refreshed with new paint, luxury vinyl flooring, and updated fixtures, and available furnished or unfurnished. On-site laundry and storage, off-street parking, and a location in Flood Zone X, outside the high-risk flood area. This is one of three neighboring Gulfport properties — seven rental homes in all — offered together as a single portfolio, a rare opportunity to own three side-by-side lots in one of Florida's most walkable, art-filled beach towns. All informa

Key facts

• Storage
• Flood zone x
• Off-street parking

Tags

• OFF-STREET PARKING
• FLOOD ZONE X
• ON-SITE LAUNDRY
• STORAGE
• THREE SIDE-BY-SIDE LOTS

Property features AI

Finance

• Other: Property type: Residential Income (Duplex); Total buildings: 1; Number of lots: 3; Lot features: City limits, level, sidewalk, paved; Lot dimensions: 50 x 172; Lot acreage: 0.19 acres; Road surface: Paved on public maintained road; Number of separate water meters: 1; Living area reported as 1,360 sq ft (building area total 1,528 sq ft)
• Financial info: Gross income listed at $46,800; Annual net income listed as $0.00; Tenant pays electricity; Terms of lease: Other
• HOA & community: No association fees

Exterior

• Parking: Street parking available
• Security: Closed-circuit camera system; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Broadband/high-speed internet available
• Home design: Residential income duplex; One-story; Completed condition; Has additional parcels; Zoning: H4
• Construction: Block construction; Shingle roof; Pillar/post/pier foundation; Built/Pro forma year listed as 1950 (unit-level)
• Exterior features: Front porch; Fenced yard; Exterior lighting; Sliding doors; Shed(s)

Interior

• Bedrooms: Two bedrooms total; Each unit is a 1-bedroom (2 total units)
• Flooring: Carpet; Tile; Wood
• Bathrooms: One bathroom per unit (2 total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Closed-circuit cameras; Smoke detectors
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $389k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative. Per door: $-44/mo.
• To cash-flow at today's rent, offer at most $376k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (15.4% below list).
• Recommended offer: $329k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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-, 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.
• Zoned schools: Bear Creek Elementary School (math 47% / reading 42%, grade F, #1,288 of 2,144 statewide, top 62%, 286 students, 82% FRL); Azalea Middle School (math 26% / reading 27%, grade F, #503 of 571 statewide, top 88%, 678 students, 74% FRL); Boca Ciega High School (math 24% / reading 33%, grade F, #458 of 667 statewide, top 69%, 1,423 students, 64% FRL) — zoned schools average 73% FRL vs 48% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 51% district-wide (-18 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.6%/yr); 462 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,291/mo this rent would consume 56% of the median local household income ($70k/yr) (locally 1371% 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 $12k 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 18 days — a 2% lower offer ($383k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,100 (15.4% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $867,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5325 31st Ave S	0.35mi	3/3.0 (-1)	1,488 (+9%)	12mo	$949,000	$638	49

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: -21.3%
• Equity multiple: 0.28×
• Total profit: $-78,260
• Equity at exit: $58,001

10-year hold

• IRR: -24.1%
• Equity multiple: -0.03×
• Total profit: $-112,468
• Equity at exit: $33,634

Cash invested: $108,920 (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: 462
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $3,291 high
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $-88

Break-even live

Break-even rent $3,403

Max offer price $376,208

Occupancy floor 98%

Sensitivity live

Price	-10% $180	-5% $46	+0% $-88	+5% $-223	+10% $-357
Rent	-10% $-348	-5% $-218	+0% $-88	+5% $42	+10% $172
Rate	-1.0pp $107	-0.5pp $11	base $-88	+0.5pp $-189	+1.0pp $-292

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,292
Total (2 units)			$3,291

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Tifton St S Gulfport, FL	3.0	2.0	1472	$3,500	$2.38	26d	1	0.36mi
5702 27th Ave S Gulfport, FL	3.0	2.0	1407	$3,300	$2.35	26d	1	0.55mi
5105 Tangerine Ave S Gulfport, FL	4.0	2.0	1860	$3,750	$2.02	6d	1	0.71mi
5618 20th Ave S Gulfport, FL	3.0	2.0	1289	$3,000	$2.33	26d	1	0.74mi
2044 44th St S Saint Petersburg, FL	3.0	2.0	1384	$2,600	$1.88	23d	1	0.76mi
5850 24th Ave S Gulfport, FL	3.0	2.0	1410	$3,000	$2.13	26d	1	0.76mi
1910 45th St S St Petersburg, FL	3.0	2.0	1200	$1,820	$1.52	0d	1	0.79mi
1701 53rd St S Gulfport, FL	3.0	1.0	994	$2,800	$2.82	6d	1	0.83mi
3585 41st Way S Unit 46E St. Petersburg, FL	3.0	2.0	1000	$2,550	$2.55	6d	1	0.83mi
4631 Queensboro Ave S Unit 4631 St. Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	9d	1	0.84mi
4631 Queensboro Ave S St Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	12d	1	0.84mi
6020 Shore Blvd S #701 Gulfport, FL	3.0	2.5	1700	$2,700	$1.59	6d	1	0.91mi
1721 58th St S Gulfport, FL	3.0	2.0	1412	$2,400	$1.70	5d	1	0.99mi
3775 40th Ln S Unit L Saint Petersburg, FL	3.0	2.0	1375	$2,500	$1.82	26d	1	0.99mi
4721 14th Ave S Saint Petersburg, FL	5.0	3.0	1788	$3,700	$2.07	26d	1	1.04mi
5609 15th Ave S Gulfport, FL	3.0	2.0	1453	$2,925	$2.01	26d	1	1.06mi
2510 38th St S Saint Petersburg, FL	3.0	1.5	1104	$2,340	$2.12	25d	1	1.06mi
2510 38th St S Saint Petersburg, FL	3.0	1.5	1104	$2,340	$2.12	6d	1	1.06mi
4718 13th Ave S Saint Petersburg, FL	4.0	1.5	1520	$2,881	$1.90	14d	1	1.06mi
3901 38th Ave S Saint Petersburg, FL	1.0–3.0	1.0–2.5	1070	$1,675	$1.57	0d	10	1.07mi
1628 43rd St S Saint Petersburg, FL	3.0	2.0	1045	$2,100	$2.01	26d	1	1.09mi
1543 43rd St S Saint Petersburg, FL	4.0	2.0	1198	$3,495	$2.92	6d	1	1.10mi
4938 12th Ave S Gulfport, FL	3.0	2.0	990	$1,795	$1.81	0d	1	1.12mi
1327 43rd St S Saint Petersburg, FL	3.0	1.5	959	$2,250	$2.35	6d	1	1.19mi
1734 39th St S Saint Petersburg, FL	4.0	2.0	1152	$2,000	$1.74	26d	1	1.26mi
4700 10th Ave S Unit 1 St. Petersburg, FL	4.0	2.0	1300	$2,650	$2.04	26d	1	1.26mi
4700 10th Ave S Saint Petersburg, FL	3.0	2.0	1300	$2,500	$1.92	22d	1	1.26mi
4801 10th Ave S Unit 1 St. Petersburg, FL	3.0	1.0	1100	$2,200	$2.00	26d	1	1.27mi
1642 39th St S Saint Petersburg, FL	3.0	1.0	975	$1,995	$2.05	22d	1	1.29mi
4421 11th Ave S Saint Petersburg, FL	3.0	2.0	945	$2,000	$2.12	6d	1	1.29mi
4537 10th Ave S Saint Petersburg, FL	4.0	2.0	1046	$2,690	$2.57	6d	1	1.32mi
4029 13th Ave S St Petersburg, FL	3.0	2.0	1152	$2,650	$2.30	26d	1	1.36mi
1119 59th St S Gulfport, FL	3.0	2.0	1208	$2,415	$2.00	6d	1	1.37mi
800 51st St S Gulfport, FL	3.0	2.0	1258	$3,200	$2.54	6d	1	1.38mi
3603 16th Ave S Saint Petersburg, FL	4.0	2.0	1235	$3,000	$2.43	6d	1	1.49mi

Listing history 11 events

1. 2026-06-22
   days on market $389,000 Active 18 DOM
2. 2026-06-18
   days on market $389,000 Active 15 DOM
3. 2026-06-17
   days on market $389,000 Active 14 DOM
4. 2026-06-16
   days on market $389,000 Active 13 DOM
5. 2026-06-15
   days on market $389,000 Active 12 DOM
6. 2026-06-13
   days on market $389,000 Active 10 DOM
7. 2026-06-09
   days on market $389,000 Active 6 DOM
8. 2026-06-08
   days on market $389,000 Active 5 DOM
9. 2026-06-07
   days on market $389,000 Active 4 DOM
10. 2026-06-04
    remarks 687-char remark
11. 2026-06-04
    listed $389,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,492
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$1,945
• − Repairs & maintenance: −$3,159
• − Management: −$3,159
• − Depreciation: −$11,316
• Taxable loss: −$7,713
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $790/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This 1949 concrete-block duplex is in good condition with a good exterior, roof, and interior. It has a good location and is ready for a new owner to move in and enjoy.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the home's value for both resale and rental.
• Both Trim the landscaping — Trimming the landscaping can improve the curb appeal and increase the home's value for both resale and rental.
• Both Service the HVAC system — Servicing the HVAC system can improve the home's comfort and energy efficiency, which can increase the home's value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the home's value for both resale and rental. ↑
• Both Trim the landscaping — Trimming the landscaping can improve the curb appeal and increase the home's value for both resale and rental. ↑
• Both Service the HVAC system — Servicing the HVAC system can improve the home's comfort and energy efficiency, which can increase the home's value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-03 Listed $389,000 Stellar MLS as Distributed by MLS Grid