491 Alameda Ave SE · Palm Bay, FL 32909

$200,000

2 bd · 2.0 ba · 960 sqft · SingleFamily public records · 1 Days on market

Built 1983 0.26 ac 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 +19.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.7/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

Key facts

• 0.26 acre lot
• Garage
• Built 1983

Property features AI

Exterior

• Parking: Garage; 1-car garage
• Utilities: Septic tank; Water available; Electricity available; Cable available
• Home design: Single family residence; Faces west
• Construction: Frame construction; Wood siding
• Exterior features: Rear porch; Corner lot

Interior

• Kitchen: Electric oven; Electric range; Microwave; Dishwasher
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air; Cable available; Unfurnished
• Laundry & utility: Washer; Dryer; Water connected; Electricity connected

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/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 $187k (6.6% below list).
• Recommended offer: $187k (6.6% 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: 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% 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; 5 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).

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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y 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 $168k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,784 (6.6% 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: 0.93% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• GRM: 8.9

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: 28.2%
• Equity multiple: 3.24×
• Total profit: $125,229
• Equity at exit: $180,176

10-year hold

• IRR: 24.7%
• Equity multiple: 7.42×
• Total profit: $359,431
• 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: 8.9×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$106 /mo · $1,277/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $237

Break-even live

Break-even rent $1,568

Max offer price $200,000

Occupancy floor 82%

Sensitivity live

Price	-10% $350	-5% $294	+0% $237	+5% $180	+10% $124
Rent	-10% $89	-5% $163	+0% $237	+5% $311	+10% $385
Rate	-1.0pp $338	-0.5pp $288	base $237	+0.5pp $185	+1.0pp $132

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
461 Ellington Ave SE Palm Bay, FL	2.0	2.0	1040	$1,595	$1.53	24d	1	0.48mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	24d	1	0.91mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	24d	1	1.09mi
1072 Genesee Ave SE Palm Bay, FL	3.0	2.0	1004	$1,855	$1.85	24d	1	1.18mi
205 Valor Dr SE Palm Bay, FL	1.0–2.0	1.0–2.0	901	$1,937	$2.15	15d	17	1.24mi

Listing history 19 events

1. 2026-05-02
   status Pending
2. 2026-05-01
   listed $200,000 Active
3. 2026-03-03
   soldstatus $168,000 Closed 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

4. 2026-02-02
   status Pending 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

5. 2026-01-28
   status Active 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

6. 2026-01-24
   historical Active Under Contract 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

7. 2026-01-12
   status Active 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

8. 2026-01-02
   status Pending 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

9. 2025-12-22
   price $169,900 893-char remark

   Show marketing remark (893 chars)

   Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

10. 2025-12-12
    listed $189,900 Active 893-char remark

    Show marketing remark (893 chars)

    Sitting on a full quarter-acre corner lot, this 3-bed/2-bath home already has the big upgrades in place and is ready for someone to bring it the rest of the way. Enjoy peace of mind with a 2024 roof, 2024 AC coil, 2018 AC unit, and a newer electrical panel—the major systems are handled. The home just needs fresh paint, an appliance package, and some cosmetic attention, giving you the chance to style it exactly how you want. It features a one-car garage, a backyard storage shed, and a fully fenced yard—perfect for privacy, pets, or outdoor living. Located just a short walk to Turner Elementary and Southwest Middle School, the convenience is hard to beat. And with no HOA—no dues, no restrictions—you're free to make this property truly your own. Cash-only, as-is sale. A solid home with great essentials already updated and endless potential for the right buyer.

11. 2018-03-19
    soldstatus $141,500
12. 2018-03-16
    soldstatus $141,500 502-char remark

    Show marketing remark (502 chars)

    This home might be small but it is overflowing with charm! Freshly renovated, move in ready home in a great location in SE Palm Bay. NEW tile flooring , NEW Paint, NEW Master bathroom, NEW air conditioner, NEW electrical panel, NEW hot water heater, and so much more - Just bring your toothbrush! City water, over-sized fenced in lot and a storage shed! Plenty of room to park your boat, RV and other toys! Short walk to Turner Elementary and Southwest Middle Schools - some of Palm Bay's best schools!

13. 2017-12-19
    listed $144,777 502-char remark

    Show marketing remark (502 chars)

    This home might be small but it is overflowing with charm! Freshly renovated, move in ready home in a great location in SE Palm Bay. NEW tile flooring , NEW Paint, NEW Master bathroom, NEW air conditioner, NEW electrical panel, NEW hot water heater, and so much more - Just bring your toothbrush! City water, over-sized fenced in lot and a storage shed! Plenty of room to park your boat, RV and other toys! Short walk to Turner Elementary and Southwest Middle Schools - some of Palm Bay's best schools!

14. 2017-10-03
    soldstatus $90,101
15. 2017-06-20
    listed $89,900
16. 2004-12-01
    soldstatus $126,000
17. 2004-11-22
    soldstatus $126,000
18. 2004-08-21
    listed $124,900
19. 2002-11-15
    soldstatus $71,900

ⓘ 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: $1,277 · $106/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$383/yr (+$32/mo · 30.0%)

ⓘ 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 ≥106°F today · 22 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: $22,414
• − Mortgage interest: −$11,203
• − Property taxes: −$1,277
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$5,818
• Taxable loss: −$470
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $2,957/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

+178.2% since first listed

19 events — show timeline

• 2026-05-02 Pending — SCMLS
• 2026-05-01 Listed $200,000 SCMLS
• 2026-03-03 Sold (MLS) $168,000 SCMLS
• 2026-02-02 Pending — SCMLS
• 2026-01-28 Relisted — SCMLS
• 2026-01-24 Contingent — SCMLS
• 2026-01-12 Relisted — SCMLS
• 2026-01-02 Pending — SCMLS
• 2025-12-22 Price Changed $169,900 SCMLS
• 2025-12-12 Listed $189,900 SCMLS
• 2018-03-19 Sold (Public Records) $141,500 Public Records
• 2018-03-16 Sold (MLS) $141,500 SCMLS
• 2017-12-19 Listed $144,777 SCMLS
• 2017-10-03 Sold (MLS) $90,101 SCMLS
• 2017-06-20 Listed $89,900 SCMLS
• 2004-12-01 Sold (Public Records) $126,000 Public Records
• 2004-11-22 Sold (MLS) $126,000 SCMLS
• 2004-08-21 Listed $124,900 SCMLS
• 2002-11-15 Sold (Public Records) $71,900 Public Records

Property tax history

+18.8%/yr

Latest (2025): $1,277 · +3.2% YoY. Source: county tax records.