1261 Salina St SE · Palm Bay, FL 32909

$229,900

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 65 Days on market

Built 1984 10,454 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 +15.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

Excellent Opportunity! Located in the fastest growing and desirable areas, just minutes from Florida’s beautiful coastline and the relaxed lifestyle buyers crave. This home offers the perfect balance of comfort, convenience, and everyday living, ideal for those seeking both a peaceful escape and easy access to everything the Space Coast has to offer. Inside, you will have the opportunity to customize this home to your own with natural light that fills the open-concept layout, creating a warm and inviting atmosphere from the moment you walk in. The effortless flow between the living, dining, and kitchen spaces is perfect for gathering with family and friends, entertaining guests, or s

Key facts

• 0.24 acre lot
• Garage
• Built 1984

Property features AI

Finance

• Other: Homestead exempt; Zoned RS2
• HOA & community: Street lights in community; Pets allowed

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Septic tank sewer; Cable available and connected; Electricity available and connected; Water available and connected
• Home design: Single family residence; One story; Home faces south; Residential property
• Construction: Block construction; Cement siding; Vinyl siding; Shingle roof; Slab foundation; Built on lot approximately 0.24 acres (83 x 125)
• Exterior features: Outdoor lighting; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Thermostat
• Laundry & utility: Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (13.6% below list).
• Recommended offer: $199k (13.6% below list) — sets the bar for 1% rule.

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: schools C-, employment D+, amenities F.
• 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.
• Market conditions: Rents rising (+3.7%/yr); 1111 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $230k implies a 424% 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 $198,726 (13.6% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.86% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.6

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: 25.9%
• Equity multiple: 3.07×
• Total profit: $132,972
• Equity at exit: $207,112

10-year hold

• IRR: 22.9%
• Equity multiple: 7.05×
• Total profit: $389,227
• Equity at exit: $446,645

Cash invested: $64,372 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,987 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$167 /mo · $2,006/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $101

Break-even live

Break-even rent $1,859

Max offer price $229,900

Occupancy floor 90%

Sensitivity live

Price	-10% $232	-5% $166	+0% $101	+5% $36	+10% $-29
Rent	-10% $-56	-5% $23	+0% $101	+5% $180	+10% $258
Rate	-1.0pp $217	-0.5pp $160	base $101	+0.5pp $42	+1.0pp $-19

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	15d	1	0.59mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	15d	1	0.60mi
1630 Agnes Ave SE Palm Bay, FL	3.0	2.0	924	$1,749	$1.89	20d	1	0.65mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	24d	1	0.67mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	24d	1	0.68mi
1490 Van Buren Ave SE Palm Bay, FL	2.0	1.0	900	$1,600	$1.78	24d	1	0.70mi
1430 Valerius St SE Palm Bay, FL	2.0	1.0	904	$1,750	$1.94	24d	1	0.87mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	24d	1	0.88mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	24d	1	0.89mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	24d	1	0.90mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	15d	8	0.91mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	24d	1	1.02mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	24d	1	1.06mi
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	15d	1	1.27mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	15d	30	1.35mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	24d	1	1.39mi

Listing history 17 events

1. 2026-06-18
   days on market $229,900 Active 65 DOM
2. 2026-06-17
   days on market $229,900 Active 64 DOM
3. 2026-06-16
   days on market $229,900 Active 63 DOM
4. 2026-06-15
   days on market $229,900 Active 62 DOM
5. 2026-06-14
   days on market $229,900 Active 60 DOM
6. 2026-06-10
   days on market $229,900 Active 57 DOM
7. 2026-06-08
   days on market $229,900 Active 55 DOM
8. 2026-06-07
   days on market $229,900 Active 54 DOM
9. 2026-06-05
   days on market $229,900 Active 51 DOM
10. 2026-06-03
    days on market $229,900 Active 50 DOM
11. 2026-06-02
    days on market $229,900 Active 49 DOM
12. 2026-06-01
    days on market $229,900 Active 48 DOM
13. 2026-05-31
    days on market $229,900 Active 47 DOM
14. 2026-05-31
    days on market $229,900 Active 46 DOM
15. 2026-04-23
    price $235,000
16. 2026-04-14
    listed $245,000 Active
17. 1990-02-28
    soldstatus $43,900

ⓘ 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: $2,006 · $167/mo
• Projected year-2 tax: $2,006 · $167/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 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: $23,847
• − Mortgage interest: −$12,878
• − Property taxes: −$2,006
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − Depreciation: −$6,688
• Taxable loss: −$2,689
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $1,862/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

+435.3% since first listed

3 events — show timeline

• 2026-04-23 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Listed $245,000 Stellar MLS as Distributed by MLS Grid
• 1990-02-28 Sold (Public Records) $43,900 Public Records

Property tax history

+17.5%/yr

Latest (2025): $2,006 · -1.7% YoY. Source: county tax records.