Waterfront Elevation: When is a property "too low"?

[Nick Ruocco]

I am currently under contract for a very unique off market property that is waterfront (Manatee river, Bradenton, FL) and very close to the seawall(1958) & rip rap(2016). I have met with sea wall contractors, done a full home inspection and met with another structural engineer and seawall professional that did an inspection and performed soil density tests around the property. All reports have come back positive and have only found very minor settling evidence. My biggest concern is the flood certificate says the main floor of the property is 3.7 feet above Base Flood Elevation. The back living room and master bedroom are at 3.2 feet above BFE. I checked with the neighbors and their houses are at 4.2 above BFE. Could anyone share their experience or advice on when is "too low"? We would be investing in a few ways to mitigate the lowest level with flood proof doors or deployable barriers. Thank you in advance!