915 Sonesta Ave NE #102 · Palm Bay, FL 32905

$110,000

2 bd · 2.0 ba · 825 sqft · Condo public records · 5 Days on market

Built 1986 $373/mo HOA · 24% 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 +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks

2 Bedroom 2 Bathroom Condo. Needs repair being sold AS/IS. HOA doesn't not allow unit to be rented for 3 years after purchase. Probate sale.

Key facts

• $373 HOA
• Community pool
• Built 1986

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).

Location & tenants

• Location reads 72/100 on livability (#366 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities 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: Riviera Elementary School (math 56% / reading 48%, grade C-, #990 of 2,144 statewide, top 48%, 696 students, 72% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 68% FRL vs 43% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $44k; list at $110k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $110,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.41% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.67×
• Total profit: $-10,215
• Equity at exit: $16,401

10-year hold

• IRR: -6.3%
• Equity multiple: 0.67×
• Total profit: $-10,300
• Equity at exit: $9,511

Cash invested: $30,800 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,555 high
• Mortgage (P&I): −$577
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$46
• HOA: −$373
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $188

Break-even live

Break-even rent $1,318

Max offer price $110,000

Occupancy floor 83%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Sonesta Ave NE #203 Palm Bay, FL	2.0	2.0	825	$1,450	$1.76	23d	1	0.02mi
915 Sonesta Ave NE Palm Bay, FL	2.0	2.0	825	$1,425	$1.73	21d	2	0.05mi
969 Sonesta Ave NE #208 Palm Bay, FL	1.0	1.0	624	$1,475	$2.36	23d	1	0.09mi
987 Sonesta Ave NE #207 Palm Bay, FL	1.0	1.0	644	$1,200	$1.86	14d	1	0.11mi
993 Sonesta Ave NE Unit A-103 Palm Bay, FL	2.0	2.0	825	$1,350	$1.64	23d	1	0.12mi
918 Aventine Dr West Melbourne, FL	1.0–2.0	1.0–2.0	907	$2,202	$2.43	13d	33	0.21mi
100 Larch Cir NE Palm Bay, FL	1.0–2.0	1.0–2.0	1013	$1,775	$1.75	14d	16	0.23mi
1440 Sheafe Ave NE #112 Palm Bay, FL	2.0	2.0	793	$1,500	$1.89	23d	1	0.29mi
1440 Sheafe Ave NE Palm Bay, FL	2.0	2.0	793	$1,500	$1.89	21d	1	0.29mi
4714 Crosswind Ct Melbourne, FL	1.0–3.0	1.0–2.0	1071	$1,725	$1.61	13d	19	0.53mi
4881 Dairy Rd Melbourne, FL	1.0–2.0	1.0–2.0	954	$2,491	$2.61	14d	12	0.53mi
1245 Palm Bay Rd Palm Bay, FL	1.0–2.0	1.0–2.0	807	$1,425	$1.76	23d	6	0.64mi
1070 Luminary Cir #104 Melbourne, FL	2.0	2.0	1008	$1,850	$1.84	23d	1	0.65mi
1311 Cindy Cir NE Palm Bay, FL	2.0	2.0	865	$1,700	$1.97	23d	1	0.69mi
1030 Luminary Cir Unit 106 Melbourne, FL	2.0	2.0	1008	$1,800	$1.79	21d	1	0.71mi
1501 Harvard Cir Melbourne, FL	1.0–3.0	1.0–2.0	1075	$1,765	$1.64	23d	3	0.89mi
790 Luminary Cir #104 Melbourne, FL	2.0	2.0	1008	$1,850	$1.84	23d	1	0.93mi
4152 Merrillville Dr West Melbourne, FL	1.0–3.0	1.0–3.0	1106	$1,764	$1.59	23d	1	0.94mi
1701 Forest Knoll Dr NE Palm Bay, FL	2.0–3.0	2.0	1200	$1,499	$1.25	14d	5	1.28mi
1123 Tree Ridge Ln NE Palm Bay, FL	2.0	1.0	870	$1,350	$1.55	23d	1	1.34mi
2130 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,450	$1.36	23d	1	1.38mi
2190 Forest Knoll Dr NE Unit 90-202 Palm Bay, FL	2.0	2.0	1069	$1,400	$1.31	23d	1	1.40mi
2160 Forest Knoll Dr NE Unit 60-102 Palm Bay, FL	2.0	2.0	1069	$1,350	$1.26	23d	1	1.40mi
2100 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,600	$1.50	14d	1	1.41mi
1608 Sunny Brook Ln Palm Bay, FL	1.0–3.0	1.0–2.0	1040	$1,412	$1.36	23d	6	1.43mi
1601 Sunny Brook Ln NE Unit D101 Palm Bay, FL	2.0	2.0	846	$1,550	$1.83	23d	1	1.46mi
1649 Sunny Brook Ln NE Palm Bay, FL	1.0–2.0	1.0–2.0	760	$1,950	$2.57	14d	2	1.46mi
1625 Sunny Brook Ln NE Unit G103 Palm Bay, FL	3.0	2.0	914	$1,700	$1.86	23d	1	1.46mi
1641 Sunny Brook Ln NE Palm Bay, FL	2.0	2.0	862	$1,500	$1.74	14d	3	1.46mi
1625 Par St NE Unit 1104 Palm Bay, FL	2.0	2.0	1025	$2,100	$2.05	23d	1	1.47mi
1625 Par St NE Unit 1107 Palm Bay, FL	2.0	2.0	1025	$1,875	$1.83	23d	1	1.47mi
1605 Par St NE Unit 3102 Palm Bay, FL	2.0	2.0	1025	$2,100	$2.05	23d	1	1.48mi
1656 Sunny Brook Ln NE Unit L102 Palm Bay, FL	3.0	2.0	914	$1,690	$1.85	21d	1	1.49mi

HOA detail condo

• Monthly dues: $373 · $4,476/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $110,000 Active 5 DOM
2. 2026-06-17
   days on market $110,000 Active 4 DOM
3. 2026-06-16
   days on market $110,000 Active 3 DOM
4. 2026-06-15
   days on market $110,000 Active 2 DOM
5. 2026-06-14
   remarks 140-char remark
6. 2026-06-14
   status $110,000 Active 1 DOM
7. 2025-09-24
   status Pending
8. 2025-09-24
   price $110,000
9. 2025-09-23
   listed $100,000 Active
10. 1996-01-17
    soldstatus $44,000
11. 1986-12-01
    soldstatus $70,200

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$371/yr (+$31/mo · 68.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $18,666
• − Mortgage interest: −$6,162
• − Property taxes: −$542
• − Insurance: −$550
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − HOA: −$4,476
• − Depreciation: −$3,200
• Taxable income: $749
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $2,076/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 — Palm Bay

• Score: 72/100
• State rank: #366
• US rank: #6458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Bay, FL
• County: Brevard County · 602,871 people
• City population: 132,211
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+56.7% since first listed

5 events — show timeline

• 2025-09-24 Pending — SCMLS
• 2025-09-24 Price Changed $110,000 SCMLS
• 2025-09-23 Listed $100,000 SCMLS
• 1996-01-17 Sold (Public Records) $44,000 Public Records
• 1986-12-01 Sold (Public Records) $70,200 Public Records

Property tax history

+2.2%/yr

Latest (2025): $542 · +1.4% YoY. Source: county tax records.