1411 Gibbs St · Melbourne, FL 32901

$175,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 78 Days on market

Built 1964 7,841 sqft lot

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A cute 3-bedroom 1 1/2-bathroom concrete block home with an open concept. New Roof installed in 2020. Hurricane impact windows and doors.

Key facts

• New roof
• 7,841 sq ft lot
• Parking

Tags

• NEW ROOF
• HURRICANE-IMPACT WINDOWS
• HURRICANE-IMPACT DOORS

Property features AI

Exterior

• Parking: Carport (1 space)
• Security: Smoke detectors
• Utilities: Public sewer; Cable available and connected; Electricity available
• Home design: Single family residence; Property faces north
• Construction: Block and concrete construction; Shingle roof; Pets allowed
• Exterior features: Impact windows; Asphalt road frontage; Lot described as 'Other'

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Open floor plan; Primary bathroom with tub and shower
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/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 $164k (6.4% below list).
• Recommended offer: $164k (6.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 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 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 55% district-wide (-22 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 (+1.7%/yr); 202 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 36% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $5k 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 78 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $175k implies a 133% 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 $163,769 (6.4% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-21,772
• Equity at exit: $26,093

10-year hold

• IRR: -5.4%
• Equity multiple: 0.67×
• Total profit: $-16,229
• Equity at exit: $15,131

Cash invested: $49,000 (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 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,638 high
• Mortgage (P&I): −$918
• Tax from tax record: −$166 /mo · $1,997/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $137

Break-even live

Break-even rent $1,465

Max offer price $175,000

Occupancy floor 87%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	18d	1	0.54mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	13d	33	0.65mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	13d	47	0.72mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$1,740	$1.59	13d	20	0.75mi
2522 Amberly Rd NE Palm Bay, FL	2.0	1.0	672	$1,300	$1.93	23d	1	0.81mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	23d	1	0.83mi
1002 Brothers Ave Unit 101 Melbourne, FL	1.0	1.0	700	$1,445	$2.06	23d	1	0.86mi
2700 Carlson Cir Melbourne, FL	1.0–2.0	1.0–2.0	879	$1,242	$1.41	23d	1	0.99mi
248 E University Blvd Melbourne, FL	1.0–2.0	1.0	720	$1,449	$2.01	14d	5	1.05mi
3008 Hanson Ave Melbourne, FL	1.0	1.0	840	$1,125	$1.34	23d	1	1.13mi
100 E University Blvd Melbourne, FL	1.0–3.0	1.0–1.5	756	$1,437	$1.90	13d	16	1.28mi
3151 S Babcock St Melbourne, FL	1.0–2.0	1.0–2.0	807	$1,595	$1.98	14d	10	1.28mi
635 E New Haven Ave Melbourne, FL	1.0–2.0	1.0–2.0	899	$2,700	$3.00	23d	1	1.36mi
603 E New Haven Ave Melbourne, FL	1.0	1.0	1118	$1,575	$1.41	14d	1	1.39mi

Listing history 16 events

1. 2026-06-10
   days on market $175,000 Active 78 DOM
2. 2026-06-08
   days on market $175,000 Active 76 DOM
3. 2026-06-07
   days on market $175,000 Active 75 DOM
4. 2026-06-05
   days on market $175,000 Active 72 DOM
5. 2026-06-03
   days on market $175,000 Active 71 DOM
6. 2026-06-02
   days on market $175,000 Active 70 DOM
7. 2026-06-01
   days on market $175,000 Active 69 DOM
8. 2026-05-31
   days on market $175,000 Active 68 DOM
9. 2026-05-31
   days on market $175,000 Active 67 DOM
10. 2026-03-24
    listed $175,000 Active
11. 2026-03-22
    historical 137-char remark

    Show marketing remark (137 chars)

    A cute 3-bedroom 1 1/2-bathroom concrete block home with an open concept. New Roof installed in 2020. Hurricane impact windows and doors.

12. 2025-05-22
    listed $175,000 Active 137-char remark

    Show marketing remark (137 chars)

    A cute 3-bedroom 1 1/2-bathroom concrete block home with an open concept. New Roof installed in 2020. Hurricane impact windows and doors.

13. 2020-11-19
    soldstatus $75,000
14. 2020-11-18
    soldstatus $75,000 Closed 57-char remark

    Show marketing remark (57 chars)

    Cute 2bd concrete block home. New Roof installed in 2020.

15. 2020-09-23
    listed Contingent 57-char remark

    Show marketing remark (57 chars)

    Cute 2bd concrete block home. New Roof installed in 2020.

16. 2020-09-22
    listed $75,000 57-char remark

    Show marketing remark (57 chars)

    Cute 2bd concrete block home. New Roof installed in 2020.

ⓘ 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: $1,997 · $166/mo
• Projected year-2 tax: $1,997 · $166/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 ≥105°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: $19,652
• − Mortgage interest: −$9,803
• − Property taxes: −$1,997
• − Insurance: −$875
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$5,091
• Taxable loss: −$1,258
• Est. tax savings @ 24.0%: +$302
• After-tax cash flow: $1,943/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

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 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 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: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• 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

+133.3% since first listed

7 events — show timeline

• 2026-03-24 Listed $175,000 SCMLS
• 2026-03-22 Listing Removed — SCMLS
• 2025-05-22 Listed $175,000 SCMLS
• 2020-11-19 Sold (Public Records) $75,000 Public Records
• 2020-11-18 Sold (MLS) $75,000 SCMLS
• 2020-09-23 Listed — SCMLS
• 2020-09-22 Listed $75,000 SCMLS

Property tax history

+15.5%/yr

Latest (2025): $1,997 · +13.8% YoY. Source: county tax records.