3270 Topsey Ave SE · Palm Bay, FL 32909

$313,900

4 bd · 2.0 ba · 2,052 sqft · Land · 87 Days on market

Built 2026 10,019 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).

• Appreciation +10.0/10.0
• Cash flow +9.7/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

Key facts

• Spacious great room
• Flex room
• Walk in pantry

Tags

• COVERED FRONT ENTRYWAY
• FLEX ROOM
• SPACIOUS GREAT ROOM
• WHITE SHAKER CABINETS
• WALK IN PANTRY
• OVERSIZED ISLAND

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detectors
• Utilities: Aerobic septic system; Cable available
• Home design: Single-family residence; One story; Faces northeast; New construction
• Construction: Block and stucco construction; Shingle roof; New construction
• Exterior features: Patio just off the great room (concrete flooring); Storm shutters; Patio

Interior

• Kitchen: Island; Walk-in pantry; Stainless steel appliances; Dishwasher; Electric range; Microwave
• Bedrooms: 4 bedrooms — all on the first level; Primary suite includes walk-in closet, ensuite with shower and dual sinks (ceramic tile in bath); Secondary bedrooms with built-in closets and carpet flooring
• Flooring: Carpet in bedrooms; Ceramic tile in main living areas and bathrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Primary bedroom on main level; Smart home features including smart thermostat; Split bedroom layout; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $314k.

Deal economics

• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (20.8% below list).
• Recommended offer: $249k (20.8% 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: Sunrise Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 759 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 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; 20 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).
• This rent runs 37% 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 $34k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $38k; list at $314k implies a 726% 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; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,525 (20.8% 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 87 days. Have you received any prior offers? Is the seller open to a 21% 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. 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: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.81%
• DSCR: 0.87
• GRM: 10.5

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: 22.5%
• Equity multiple: 2.82×
• Total profit: $159,565
• Equity at exit: $282,786

10-year hold

• IRR: 20.3%
• Equity multiple: 6.50×
• Total profit: $483,801
• Equity at exit: $609,839

Cash invested: $87,892 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,485 high
• Mortgage (P&I): −$1,646
• Tax est. 1.5%: −$392 /mo · $4,708/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-206

Break-even live

Break-even rent $2,746

Max offer price $284,099

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-97	+0% $-206	+5% $-314	+10% $-423
Rent	-10% $-402	-5% $-304	+0% $-206	+5% $-108	+10% $-10
Rate	-1.0pp $-48	-0.5pp $-126	base $-206	+0.5pp $-287	+1.0pp $-370

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: $78,475
• Closing costs: $9,417
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1496 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2187	$2,440	$1.12	15d	1	0.09mi
1453 Santa Anna St SE Palm Bay, FL	3.0	2.0	1994	$2,500	$1.25	15d	1	0.17mi
1783 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2207	$2,100	$0.95	24d	1	0.25mi
1063 Grantham Ln SE Palm Bay, FL	3.0	2.0	1515	$2,000	$1.32	24d	1	0.39mi
1046 Grantham Ln SE Palm Bay, FL	4.0	2.5	2405	$3,100	$1.29	24d	1	0.43mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	24d	1	0.50mi
3004 Suntan Ct SE Palm Bay, FL	4.0	2.0	2388	$2,900	$1.21	24d	1	0.50mi
3517 Rixford Way SE Palm Bay, FL	4.0	3.0	2562	$2,800	$1.09	24d	1	0.56mi
1434 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1600	$2,000	$1.25	14d	1	0.61mi
1394 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1876	$2,500	$1.33	20d	1	0.62mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	20d	1	0.62mi
1843 Middlebury Dr SE Palm Bay, FL	4.0	2.0	1822	$2,200	$1.21	24d	1	0.65mi
1884 Middlebury Dr SE Palm Bay, FL	3.0	2.0	1761	$2,000	$1.14	24d	1	0.65mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	14d	1	0.71mi
2877 Palisades Dr SE Palm Bay, FL	3.0	2.0	1974	$2,150	$1.09	20d	1	0.79mi
2073 Farmhouse Rd SE Palm Bay, FL	4.0	2.0	1830	$2,133	$1.17	24d	1	0.82mi
1566 Criswell Ln SE Palm Bay, FL	4.0	2.0	2046	$2,400	$1.17	24d	1	0.83mi
2183 Farmhouse Rd SE Palm Bay, FL	3.0	2.0	1676	$2,000	$1.19	24d	1	0.92mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	1.15mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	22d	1	1.19mi

Listing history 10 events

1. 2026-05-18
   status Pending
2. 2026-03-06
   price $313,900
3. 2026-02-23
   soldstatus $38,000 Closed 403-char remark

   Show marketing remark (403 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

4. 2026-02-20
   listed $321,900 Active
5. 2026-02-18
   soldstatus $74,000
6. 2026-01-05
   status Pending 403-char remark

   Show marketing remark (403 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

7. 2025-12-10
   price $38,000 403-char remark

   Show marketing remark (403 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

8. 2025-09-10
   listed $40,000 Active 403-char remark

   Show marketing remark (403 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

9. 2025-09-04
   soldstatus $30,000
10. 1997-10-17
    soldstatus $847,000

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 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: $29,823
• − Mortgage interest: −$17,583
• − Property taxes: −$4,708
• − Insurance: −$1,570
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$9,132
• Taxable loss: −$7,942
• Est. tax savings @ 24.0%: +$1,906
• After-tax cash flow: $-565/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

-62.9% since first listed

10 events — show timeline

• 2026-05-18 Pending — SCMLS
• 2026-03-06 Price Changed $313,900 SCMLS
• 2026-02-23 Sold (MLS) $38,000 SCMLS
• 2026-02-20 Listed $321,900 SCMLS
• 2026-02-18 Sold (Public Records) $74,000 Public Records
• 2026-01-05 Pending — SCMLS
• 2025-12-10 Price Changed $38,000 SCMLS
• 2025-09-10 Listed $40,000 SCMLS
• 2025-09-04 Sold (Public Records) $30,000 Public Records
• 1997-10-17 Sold (Public Records) $847,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $323 · +9.1% YoY. Source: county tax records.