655 Chesser Ave · Sebastian, FL 32958

$279,900

2 bd · 2.0 ba · 1,380 sqft · SingleFamily public records · 119 Days on market

Built 1984 10,454 sqft lot Est $301k · 7% under

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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 +10.6/15.0
• Schools +4.2/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

Key facts

• Fenced backyard
• Access to dining
• 0.24 acre lot

Tags

• FENCED BACKYARD
• CONVENIENT ACCESS TO SHOPPING
• ACCESS TO DINING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association

Exterior

• Parking: Driveway
• Utilities: Public water; Private sewer
• Home design: Single-story; North-facing
• Construction: Frame construction; Shingle roof
• Exterior features: Fence; Shed(s); Paved road access; Has view; Less than quarter-acre lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range
• Bedrooms: Converted bedroom (13 x 11); Bedroom (13 x 12); Bedroom (19 x 13)
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Single-hung windows; Unfurnished
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-27 ($-324/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (21.6% below list).
• Recommended offer: $219k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.4% in Sebastian — 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 (#89 in FL, #1,421 nationally) — a professional / high-income tenant draw. Strengths: housing A+, crime A, health & safety A; Watch: amenities D-.
• Indian River (other): math 48% / reading 52% proficiency, ranked #35 of 73 in FL (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sebastian Elementary School (math 37% / reading 42%, grade F, #1,513 of 2,144 statewide, top 73%, 329 students, 72% FRL); Sebastian River Middle School (math 46% / reading 44%, grade D, #310 of 571 statewide, top 56%, 862 students, 65% FRL); Sebastian River High School (math 29% / reading 45%, grade F, #340 of 667 statewide, top 52%, 1,843 students, 52% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 411 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 39% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Indian River County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $169k; list at $280k implies a 66% 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 $219,477 (21.6% 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 119 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $300,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
397 Warren St	0.11mi	2/3.0	1,329 (-4%)	2mo	$190,000	$143	84
502 Park Ave	0.40mi	2/2.0	1,402 (+2%)	3mo	$295,000	$210	76
333 Benschop St	0.20mi	3/2.0 (+1)	1,294 (-6%)	1mo	$327,500	$253	74
358 Benschop St	0.15mi	2/2.0	1,230 (-11%)	2mo	$335,000	$272	74
572 Citrus Ave	0.38mi	3/2.0 (+1)	1,445 (+5%)	0mo	$285,000	$197	69
474 Thomas St	0.21mi	3/2.0 (+1)	1,520 (+10%)	1mo	$255,000	$168	67
549 Layport Dr	0.59mi	2/2.0	1,423 (+3%)	1mo	$350,000	$246	66
390 Main St	0.25mi	2/2.0	1,209 (-12%)	2mo	$265,000	$219	66
572 Orange Ave	0.34mi	2/2.0	1,218 (-12%)	3mo	$265,000	$218	62
441 Columbus St	0.67mi	3/2.0 (+1)	1,418 (+3%)	4mo	$250,000	$176	56
495 Easy St	0.61mi	3/2.0 (+1)	1,276 (-8%)	3mo	$255,500	$200	51
382 Easy St	0.51mi	3/2.0 (+1)	1,194 (-14%)	2mo	$325,000	$272	47

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 · 6.22% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.49×
• Total profit: $-39,807
• Equity at exit: $41,734

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-4,992
• Equity at exit: $24,201

Cash invested: $78,372 (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 32958

• Home prices YoY: -13.1%
• Rents YoY: 6.2%
• Active inventory: 411
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-27

Break-even live

Break-even rent $2,229

Max offer price $275,137

Occupancy floor 96%

Sensitivity live

Price	-10% $131	-5% $52	+0% $-27	+5% $-106	+10% $-185
Rent	-10% $-200	-5% $-114	+0% $-27	+5% $60	+10% $146
Rate	-1.0pp $114	-0.5pp $44	base $-27	+0.5pp $-99	+1.0pp $-173

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
462 Lloyd St Sebastian, FL	3.0	2.0	1564	$2,400	$1.53	23d	1	0.16mi
586 Gerald St Sebastian, FL	3.0	3.0	936	$1,600	$1.71	15d	1	0.38mi
422 Avocado Ave Sebastian, FL	3.0	2.0	1698	$3,900	$2.30	23d	1	0.61mi
11171 Airport Dr Sebastian, FL	2.0	2.0	1191	$1,900	$1.60	23d	1	0.71mi
362 Del Monte Rd Unit A Sebastian, FL	2.0	2.0	1045	$1,600	$1.53	23d	1	0.73mi
351 Del Monte Rd Unit B Sebastian, FL	3.0	2.0	1416	$1,900	$1.34	15d	1	0.76mi
351 Del Monte Rd Unit B Sebastian, FL	3.0	2.0	1416	$1,900	$1.34	23d	1	0.76mi
393 S Wimbrow Dr Apt A Sebastian, FL	2.0	2.0	1700	$1,900	$1.12	23d	1	0.80mi
371 Keen Ter Unit A Sebastian, FL	2.0	2.0	1037	$1,650	$1.59	23d	1	0.81mi
741 Smith St Sebastian, FL	2.0	1.5	891	$1,900	$2.13	23d	1	0.89mi
243 Harp Ter Unit A Sebastian, FL	2.0	2.0	1150	$1,885	$1.64	23d	1	0.95mi
882 Foster Ave Sebastian, FL	3.0	2.0	1080	$2,450	$2.27	23d	1	1.04mi
246 S Wimbrow Dr Sebastian, FL	3.0	2.0	1364	$3,000	$2.20	15d	1	1.11mi
832 Carnation Dr Sebastian, FL	3.0	2.0	1400	$2,800	$2.00	15d	1	1.29mi
950 Louisiana Ave Sebastian, FL	2.0	1.5	990	$1,550	$1.57	23d	1	1.32mi

Listing history 27 events

1. 2026-06-16
   days on market $279,900 Active 119 DOM
2. 2026-06-15
   days on market $279,900 Active 118 DOM
3. 2026-06-14
   days on market $279,900 Active 116 DOM
4. 2026-06-13
   days on market $279,900 Active 115 DOM
5. 2026-06-10
   days on market $279,900 Active 113 DOM
6. 2026-06-09
   days on market $279,900 Active 112 DOM
7. 2026-06-08
   days on market $279,900 Active 111 DOM
8. 2026-06-07
   days on market $279,900 Active 110 DOM
9. 2026-06-05
   days on market $279,900 Active 107 DOM
10. 2026-06-02
    days on market $279,900 Active 105 DOM
11. 2026-06-01
    days on market $279,900 Active 104 DOM
12. 2026-05-31
    days on market $279,900 Active 103 DOM
13. 2026-05-30
    days on market $279,900 Active 102 DOM
14. 2026-04-09
    price $279,900
15. 2026-02-16
    listed $299,900 Active
16. 2019-04-04
    soldstatus $169,000
17. 2019-03-29
    soldstatus $169,000 238-char remark

    Show marketing remark (238 chars)

    ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

18. 2019-03-29
    soldstatus $169,000 Sold 238-char remark

    Show marketing remark (238 chars)

    ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

19. 2019-03-11
    historical Contingent 238-char remark

    Show marketing remark (238 chars)

    ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

20. 2019-02-25
    listed $174,800 Active 238-char remark

    Show marketing remark (238 chars)

    ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

21. 2019-02-25
    listed $174,800 238-char remark

    Show marketing remark (238 chars)

    ABSOLUTELY ADORABLE! 2/2 WITH LARGE FAMILY ROOM WITH DINING ROOM INCLUDING. UPDATE KITCHENS AND BATHS. FENCED YARD WITH SHED. POURED CONCRETE PATIO IN THE BACK YARD ALONG WITH BOAT OR SMALL RV PARKING IN THE FRONT YARD. CHARMING AND COZY.

22. 2014-06-25
    soldstatus $89,000
23. 2014-05-20
    historical
24. 2014-04-19
    listed $95,999
25. 2005-09-26
    soldstatus $175,000
26. 2004-07-15
    soldstatus $125,000
27. 1988-08-01
    soldstatus $48,000

ⓘ 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: $2,117 · $176/mo
• Projected year-2 tax: $2,323 · $194/mo
• Expected delta: +$207/yr (+$17/mo · 9.8%)

ⓘ 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: $26,337
• − Mortgage interest: −$15,679
• − Property taxes: −$2,117
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$8,143
• Taxable loss: −$5,214
• Est. tax savings @ 24.0%: +$1,251
• After-tax cash flow: $928/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: Indian River
• NCES district ID: 1200930
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $46,597
• Composite: 42.45/100
• National rank: #3218
• State rank: #35 of 73 in FL

Livability — Sebastian

• Score: 81/100
• State rank: #89
• US rank: #1421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sebastian, FL
• County: Indian River County · 143,738 people
• City population: 30,023
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 30,023
• Household income: $66,840
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 646.0

Population outlook (Indian River County) Hauer SSP2

• Today (2025): 165,104 people
• By 2030: 172,869 · +4.7%
• By 2040: 185,640 · +12.4%
• By 2050: 194,465 · +17.8%
• By 2075: 211,115 · +27.9%
• By 2100: 211,781 · +28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Indian River

• 2024 margin: Strong R (+27.4) · D 36.0% · R 63.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -14.8pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+21.6 2016: R+24.5 2012: R+22.3 2008: R+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.85%
• Current HPI: 330.1691
• Rent YoY: ▲ 6.22%
• Metro: Sebastian-Vero Beach, 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

+483.1% since first listed

14 events — show timeline

• 2026-04-09 Price Changed $279,900 RAIRCMLS
• 2026-02-16 Listed $299,900 RAIRCMLS
• 2019-04-04 Sold (Public Records) $169,000 Public Records
• 2019-03-29 Sold (MLS) $169,000 RAIRCMLS
• 2019-03-29 Sold (MLS) $169,000 SCMLS
• 2019-03-11 Contingent — RAIRCMLS
• 2019-02-25 Listed $174,800 RAIRCMLS
• 2019-02-25 Listed $174,800 SCMLS
• 2014-06-25 Sold (MLS) $89,000 Beaches MLS
• 2014-05-20 Listing Removed — Beaches MLS
• 2014-04-19 Listed $95,999 Beaches MLS
• 2005-09-26 Sold (Public Records) $175,000 Public Records
• 2004-07-15 Sold (Public Records) $125,000 Public Records
• 1988-08-01 Sold (Public Records) $48,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $2,117 · +9.7% YoY. Source: county tax records.