1657 Waltz St SE · Palm Bay, FL 32909

$200,000

3 bd · 2.0 ba · 1,025 sqft · SingleFamily public records · 17 Days on market

Built 1986 10,018 sqft lot

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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 +18.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming house located on Waltz St SE in Palm Bay, FL. This charming, rambler style home provides a Safe, welcoming, Florida atmosphere with its sturdy concrete block structure, Aluminum roof , classic architectural design, and custom aluminum storm shutters; Not to mention it's completely fenced in gardens and adorable cottage style shed. The interior does need to be updated. A great opportunity to own a piece of Palm Bay's vibrant community. In a very desirable up and coming neighborhood. Close to schools, shopping and the new St. John Heritage Parkway exit from 95.

Key facts

• Aluminum roof
• Close to schools
• Fenced in gardens

Tags

• CONCRETE BLOCK STRUCTURE
• ALUMINUM ROOF
• CUSTOM ALUMINUM STORM SHUTTERS
• FENCED IN GARDENS
• COTTAGE STYLE SHED
• CLOSE TO SCHOOLS

Property features AI

Exterior

• Parking: Garage (1 car)
• Utilities: Septic tank; Cable available; Electricity available
• Home design: Single-family residence; Home faces south
• Construction: Block and stucco construction
• Exterior features: Storm shutters; Few trees on the lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Three bedrooms on the main level
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Seven total rooms; Tile flooring
• Laundry & utility: Unfurnished (no built-in washer/dryer listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.

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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 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 rising (+3.7%/yr); 1111 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $200k implies a 301% 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 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.20×
• Total profit: $123,250
• Equity at exit: $180,176

10-year hold

• IRR: 24.4%
• Equity multiple: 7.35×
• Total profit: $355,681
• Equity at exit: $388,556

Cash invested: $56,000 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $203

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 85%

Sensitivity live

Price	-10% $341	-5% $272	+0% $203	+5% $134	+10% $65
Rent	-10% $45	-5% $124	+0% $203	+5% $282	+10% $362
Rate	-1.0pp $304	-0.5pp $254	base $203	+0.5pp $151	+1.0pp $99

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	14d	1	0.02mi
1430 Valerius St SE Palm Bay, FL	2.0	1.0	904	$1,750	$1.94	24d	1	0.45mi
1490 Van Buren Ave SE Palm Bay, FL	2.0	1.0	900	$1,600	$1.78	24d	1	0.57mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	24d	1	0.61mi
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	24d	1	0.98mi
1630 Agnes Ave SE Palm Bay, FL	3.0	2.0	924	$1,749	$1.89	19d	1	1.05mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	24d	1	1.09mi
1625 Santos St SE Unit A Palm Bay, FL	2.0	1.0	900	$1,350	$1.50	19d	1	1.09mi

Listing history 12 events

1. 2026-06-18
   days on market $200,000 Active 17 DOM
2. 2026-06-17
   days on market $200,000 Active 16 DOM
3. 2026-06-16
   days on market $200,000 Active 15 DOM
4. 2026-06-15
   days on market $200,000 Active 14 DOM
5. 2026-06-14
   days on market $200,000 Active 12 DOM
6. 2026-06-10
   days on market $200,000 Active 9 DOM
7. 2026-06-08
   days on market $200,000 Active 7 DOM
8. 2026-06-07
   days on market $200,000 Active 6 DOM
9. 2026-06-05
   days on market $200,000 Active 3 DOM
10. 2026-06-03
    days on market $200,000 Active 2 DOM
11. 2026-06-02
    remarks 574-char remark
12. 2026-06-02
    listed $200,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 19 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: $24,079
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$5,818
• Taxable loss: −$795
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $2,627/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 1%

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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+251.5% since first listed

3 events — show timeline

• 2026-06-01 Listed $200,000 SCMLS
• 1992-02-01 Sold (Public Records) $49,900 Public Records
• 1986-01-01 Sold (Public Records) $56,900 Public Records

Property tax history

-0.2%/yr

Latest (2025): $397 · +5.9% YoY. Source: county tax records.