283 Buffalo Pl · Merritt Island, FL 32955

$115,900

2 bd · 2.0 ba · 384 sqft · Condo public records · 155 Days on market

Built 1989 $240/mo HOA · 16% of rent

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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 +22.6/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Ameri-Cana Resorts Co-Op, an active 55+ RV community. This charming, fully furnished 1-bedroom, 1-bath home is filled with natural sunlight and offers a warm, inviting atmosphere. The open kitchen features a pantry area and ample storage, while pocket doors provide privacy and efficient use of space. Enjoy relaxing in the interior screened-in porch with new indoor/outdoor carpet or entertaining in the open living area with beautiful wood-look waterproof laminate flooring. This home includes, a newer 2022 roof, AC condenser, blinds and updated skirting around the exterior. Additional updates include a refreshed bathroom vanity and new framework around the windows, adding both style and function. This vibrant neighborhood features 417 sites accommodating both park models and recreational vehicles, offering residents a perfect balance of comfort, convenience, and community. Designed for those who value an active and social lifestyle, Ameri-Cana Resorts provides a welcoming environment where neighbors become friends and every day feels like a getaway. Experience resort-style comfort and a true sense of community in this friendly, well-maintained resort, where every detail has been thoughtfully cared for and every day feels like home. Check out the website at https://www. ameri-canaresorts.com. Owners enjoy an active lifestyle including amenities and activities as follows: Aerobics, Bingo, Boat Storage, Bocce Ball, Cards, Exercise Classes, Ponds, Horseshoe Pits, Jacuzzi, Line Dancing, Large Heated Pool, Mah Jongg, Pickleball Courts, Pool Tables, Shuffleboard Courts, Tai Chi, and Tennis Courts.

Key facts

• Pantry area
• Pocket doors
• Natural sun light

Tags

• NATURAL SUN LIGHT
• OPEN KITCHEN
• PANTRY AREA
• AMPLE STORAGE
• POCKET DOORS
• INTERIOR SCREENED-IN PORCH

Property features AI

Finance

• HOA & community: Association: Americana Resorts; Association fee $240 monthly; Senior community

Exterior

• Parking: Other parking
• Security: Closed-circuit camera(s); Security fence; Security gate
• Utilities: 100 Amp electric service; Public sewer; Cable available; Electricity connected; Sewer connected; Water available; Water connected
• Home design: Manufactured home; One story; North-facing
• Construction: Vinyl siding; Other roof material; Pets allowed
• Exterior features: Covered screened side porch; Tennis court(s); Shed(s); Workshop; Other lot features; Private road frontage with asphalt surface

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Refrigerator; Plumbed for ice maker; Electric water heater
• Bedrooms: 1 bedroom (main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Hot water heating; Central air conditioning
• Interior features: Breakfast bar; Ceiling fan(s); Jack and Jill bathroom; Open floor plan; Pantry; Primary bathroom with tub and shower; Vaulted ceilings; Furnished
• Laundry & utility: Washer and dryer included; Washer hookup; Electric dryer hookup; In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety D-.
• Brevard (suburban): math 53% / reading 57% proficiency, ranked #19 of 73 in FL (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Suntree Elementary School (math 80% / reading 80%, grade A+, #110 of 2,144 statewide, top 5%, 600 students, 23% FRL); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 19% FRL vs 43% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 55% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 317 active listings in the ZIP; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask is 8208% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $72k; list at $116k implies a 61% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.31% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-10,331
• Equity at exit: $17,281

10-year hold

• IRR: -4.9%
• Equity multiple: 0.73×
• Total profit: $-8,747
• Equity at exit: $10,021

Cash invested: $32,452 (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 32955

• Home prices YoY: -20.7%
• Rents YoY: 0.1%
• Active inventory: 317
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$48
• HOA: −$240
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $197

Break-even live

Break-even rent $1,265

Max offer price $115,900

Occupancy floor 82%

Sensitivity live

Price	-10% $263	-5% $230	+0% $197	+5% $165	+10% $132
Rent	-10% $78	-5% $138	+0% $197	+5% $257	+10% $317
Rate	-1.0pp $256	-0.5pp $227	base $197	+0.5pp $167	+1.0pp $137

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $240 · $2,880/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $115,900 Active 155 DOM
2. 2026-06-17
   days on market $115,900 Active 154 DOM
3. 2026-06-16
   days on market $115,900 Active 153 DOM
4. 2026-06-15
   days on market $115,900 Active 152 DOM
5. 2026-06-14
   days on market $115,900 Active 150 DOM
6. 2026-06-10
   days on market $115,900 Active 147 DOM
7. 2026-06-08
   days on market $115,900 Active 145 DOM
8. 2026-06-07
   days on market $115,900 Active 144 DOM
9. 2026-06-05
   days on market $115,900 Active 141 DOM
10. 2026-06-03
    days on market $115,900 Active 140 DOM
11. 2026-06-02
    days on market $115,900 Active 139 DOM
12. 2026-06-01
    days on market $115,900 Active 138 DOM
13. 2026-05-31
    days on market $115,900 Active 137 DOM
14. 2026-05-31
    days on market $115,900 Active 136 DOM
15. 2026-05-18
    price $115,900
16. 2026-03-29
    listed $1,395
17. 2026-02-26
    historical $1,395
18. 2026-02-13
    listed $1,395
19. 2026-02-13
    historical $1,395
20. 2026-01-15
    historical 1626-char remark

    Show marketing remark (1626 chars)

    Welcome to Ameri-Cana Resorts Co-Op, an active 55+ RV community. This charming, fully furnished 1-bedroom, 1-bath home is filled with natural sunlight and offers a warm, inviting atmosphere. The open kitchen features a pantry area and ample storage, while pocket doors provide privacy and efficient use of space. Enjoy relaxing in the interior screened-in porch with new indoor/outdoor carpet or entertaining in the open living area with beautiful wood-look waterproof laminate flooring. This home includes, a newer 2022 roof, AC condenser, blinds and updated skirting around the exterior. Additional updates include a refreshed bathroom vanity and new framework around the windows, adding both style and function. This vibrant neighborhood features 417 sites accommodating both park models and recreational vehicles, offering residents a perfect balance of comfort, convenience, and community. Designed for those who value an active and social lifestyle, Ameri-Cana Resorts provides a welcoming environment where neighbors become friends and every day feels like a getaway. Experience resort-style comfort and a true sense of community in this friendly, well-maintained resort, where every detail has been thoughtfully cared for and every day feels like home. Check out the website at https://www. ameri-canaresorts.com. Owners enjoy an active lifestyle including amenities and activities as follows: Aerobics, Bingo, Boat Storage, Bocce Ball, Cards, Exercise Classes, Ponds, Horseshoe Pits, Jacuzzi, Line Dancing, Large Heated Pool, Mah Jongg, Pickleball Courts, Pool Tables, Shuffleboard Courts, Tai Chi, and Tennis Courts.

21. 2026-01-14
    listed $119,900 Active
22. 2026-01-06
    price $124,900 1626-char remark

    Show marketing remark (1626 chars)

    Welcome to Ameri-Cana Resorts Co-Op, an active 55+ RV community. This charming, fully furnished 1-bedroom, 1-bath home is filled with natural sunlight and offers a warm, inviting atmosphere. The open kitchen features a pantry area and ample storage, while pocket doors provide privacy and efficient use of space. Enjoy relaxing in the interior screened-in porch with new indoor/outdoor carpet or entertaining in the open living area with beautiful wood-look waterproof laminate flooring. This home includes, a newer 2022 roof, AC condenser, blinds and updated skirting around the exterior. Additional updates include a refreshed bathroom vanity and new framework around the windows, adding both style and function. This vibrant neighborhood features 417 sites accommodating both park models and recreational vehicles, offering residents a perfect balance of comfort, convenience, and community. Designed for those who value an active and social lifestyle, Ameri-Cana Resorts provides a welcoming environment where neighbors become friends and every day feels like a getaway. Experience resort-style comfort and a true sense of community in this friendly, well-maintained resort, where every detail has been thoughtfully cared for and every day feels like home. Check out the website at https://www. ameri-canaresorts.com. Owners enjoy an active lifestyle including amenities and activities as follows: Aerobics, Bingo, Boat Storage, Bocce Ball, Cards, Exercise Classes, Ponds, Horseshoe Pits, Jacuzzi, Line Dancing, Large Heated Pool, Mah Jongg, Pickleball Courts, Pool Tables, Shuffleboard Courts, Tai Chi, and Tennis Courts.

23. 2025-11-03
    listed $129,900 Active 1626-char remark

    Show marketing remark (1626 chars)

    Welcome to Ameri-Cana Resorts Co-Op, an active 55+ RV community. This charming, fully furnished 1-bedroom, 1-bath home is filled with natural sunlight and offers a warm, inviting atmosphere. The open kitchen features a pantry area and ample storage, while pocket doors provide privacy and efficient use of space. Enjoy relaxing in the interior screened-in porch with new indoor/outdoor carpet or entertaining in the open living area with beautiful wood-look waterproof laminate flooring. This home includes, a newer 2022 roof, AC condenser, blinds and updated skirting around the exterior. Additional updates include a refreshed bathroom vanity and new framework around the windows, adding both style and function. This vibrant neighborhood features 417 sites accommodating both park models and recreational vehicles, offering residents a perfect balance of comfort, convenience, and community. Designed for those who value an active and social lifestyle, Ameri-Cana Resorts provides a welcoming environment where neighbors become friends and every day feels like a getaway. Experience resort-style comfort and a true sense of community in this friendly, well-maintained resort, where every detail has been thoughtfully cared for and every day feels like home. Check out the website at https://www. ameri-canaresorts.com. Owners enjoy an active lifestyle including amenities and activities as follows: Aerobics, Bingo, Boat Storage, Bocce Ball, Cards, Exercise Classes, Ponds, Horseshoe Pits, Jacuzzi, Line Dancing, Large Heated Pool, Mah Jongg, Pickleball Courts, Pool Tables, Shuffleboard Courts, Tai Chi, and Tennis Courts.

24. 2025-09-08
    price $1,395
25. 2025-08-08
    listed $1,450
26. 2022-02-28
    soldstatus $72,000 Closed 721-char remark

    Show marketing remark (721 chars)

    This Park Model is located in the Ameri- Cana Resorts 55+ community. If you are looking for your Florida retirement / retirement getaway home come see this one ! It is furnished and ready for a new homeowner. Located in North Melbourne it is close to the sandy beaches , several Golf courses and great shopping including the Avenues at Viera. North Melbourne itself is convenient to Orlando to the West and Port Canaveral to North with multiple cruise lines having it as a port of call Ameri-Cana is a active community and offers many activities including a large community pool , hot tub, Tennis, Recreation center with pool table and table tennis and planned events. There is also Shuffle Board , and wood working area.

27. 2022-02-13
    historical Contingent 721-char remark

    Show marketing remark (721 chars)

    This Park Model is located in the Ameri- Cana Resorts 55+ community. If you are looking for your Florida retirement / retirement getaway home come see this one ! It is furnished and ready for a new homeowner. Located in North Melbourne it is close to the sandy beaches , several Golf courses and great shopping including the Avenues at Viera. North Melbourne itself is convenient to Orlando to the West and Port Canaveral to North with multiple cruise lines having it as a port of call Ameri-Cana is a active community and offers many activities including a large community pool , hot tub, Tennis, Recreation center with pool table and table tennis and planned events. There is also Shuffle Board , and wood working area.

28. 2022-02-11
    listed $75,000 Active 721-char remark

    Show marketing remark (721 chars)

    This Park Model is located in the Ameri- Cana Resorts 55+ community. If you are looking for your Florida retirement / retirement getaway home come see this one ! It is furnished and ready for a new homeowner. Located in North Melbourne it is close to the sandy beaches , several Golf courses and great shopping including the Avenues at Viera. North Melbourne itself is convenient to Orlando to the West and Port Canaveral to North with multiple cruise lines having it as a port of call Ameri-Cana is a active community and offers many activities including a large community pool , hot tub, Tennis, Recreation center with pool table and table tennis and planned events. There is also Shuffle Board , and wood working area.

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,238 · $103/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 ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,177
• − Mortgage interest: −$6,492
• − Property taxes: −$1,238
• − Insurance: −$580
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − HOA: −$2,880
• − Depreciation: −$3,372
• Taxable income: $707
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $2,199/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: Brevard
• NCES district ID: 1200150
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 57% ▼ -4.00%
• Median HH income: $49,426
• Composite: 46.86/100
• National rank: #2370
• State rank: #19 of 73 in FL

Livability — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,008
• Household income: $86,457
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1273.0

Population outlook (Brevard County) Hauer SSP2

• Today (2025): 623,254 people
• By 2030: 648,420 · +4.0%
• By 2040: 690,009 · +10.7%
• By 2050: 715,669 · +14.8%
• By 2075: 775,744 · +24.5%
• By 2100: 776,687 · +24.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 7% · Canada, Jamaica, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2%

Political lean MEDSL · Brevard

• 2024 margin: Strong R (+20.8) · D 39.1% · R 59.9% · Other 1.0%
• 2008→2024 swing: -10.4pp toward R · 2008: -10.4pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.4 2016: R+19.8 2012: R+12.7 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.70%
• Current HPI: 312.7435
• Rent YoY: ▲ 0.12%
• Metro: Palm Bay-Melbourne-Titusville, 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

+54.5% since first listed

14 events — show timeline

• 2026-05-18 Price Changed $115,900 SCMLS
• 2026-03-29 Listed for Rent $1,395 SCMLS
• 2026-02-26 Rental Removed $1,395 SCMLS
• 2026-02-13 Listed for Rent $1,395 SCMLS
• 2026-02-13 Rental Removed $1,395 Avail
• 2026-01-15 Listing Removed — SCMLS
• 2026-01-14 Listed $119,900 SCMLS
• 2026-01-06 Price Changed $124,900 SCMLS
• 2025-11-03 Listed $129,900 SCMLS
• 2025-09-08 Price Changed $1,395 Avail
• 2025-08-08 Listed for Rent $1,450 Avail
• 2022-02-28 Sold (MLS) $72,000 SCMLS
• 2022-02-13 Contingent — SCMLS
• 2022-02-11 Listed $75,000 SCMLS

Property tax history

+5.1%/yr

Latest (2025): $1,238 · +12.2% YoY. Source: county tax records.