693 Akola Ter SW · Palm Bay, FL 32908

$359,900

4 bd · 2.0 ba · 1,800 sqft · Land · 223 Days on market

Built 2025 10,018 sqft lot

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

10,000 Flex Cash w/ full price offer. This split floor plan features hurricane-rated windows, porcelain wood-look tile, and premium granite countertops in both the kitchen and bathrooms. Luxury finishes like floor-to-ceiling tile in the tub and shower, and solid wood cabinets with soft-close features. The grand 8' front door and soaring 9'4'' ceilings create an impressive ambiance, perfect for entertaining. Currently under construction, photos shown are of a previous build with the same layout.

Key facts

• Split floor plan
• 8 foot doors
• Tray ceilings

Tags

• HURRICANE IMPACT WINDOWS
• SPLIT FLOOR PLAN
• 8 FOOT DOORS
• 9 FOOT 4 INCH CEILINGS
• TRAY CEILINGS
• FLOOR TO CEILING TILE

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Aerobic septic system; Electricity connected
• Home design: Single family residence; Faces south; New construction
• Construction: Block and stucco construction
• Exterior features: Cleared lot; Impact windows

Interior

• Kitchen: Dishwasher; Electric oven; Microwave
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Impact windows; Water softener owned; Plumbed for ice maker
• Laundry & utility: In-unit laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $360k.

Deal economics

• At list price, monthly cash flow is $-802 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (32.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (25.7% below list).
• Recommended offer: $244k (32.2% below list) — sets the bar for cash-flow.

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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% 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 (+1.3%/yr); 1020 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 40% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $11k 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 223 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $26k; list at $360k implies a 1284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,876 (32.2% 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 223 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.47%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.29% rent growth · sell at horizon

5-year hold

• IRR: -35.6%
• Equity multiple: -0.13×
• Total profit: $-113,608
• Equity at exit: $53,662

10-year hold

• IRR: -63.1%
• Equity multiple: -0.80×
• Total profit: $-181,388
• Equity at exit: $31,118

Cash invested: $100,772 (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 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1020
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-802

Break-even live

Break-even rent $3,688

Max offer price $243,876

Occupancy floor —

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
583 Halifax St SW Palm Bay, FL	4.0	2.0	1833	$2,075	$1.13	13d	1	0.34mi
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	23d	1	0.53mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	23d	1	0.83mi
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	14d	1	1.23mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	1.43mi
2437 Hagoplan Ave SW Palm Bay, FL	3.0	2.0	1840	$2,150	$1.17	23d	1	1.44mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	14d	1	1.49mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	23d	1	1.50mi

Listing history 26 events

1. 2026-06-18
   days on market $359,900 Active 223 DOM
2. 2026-06-17
   days on market $359,900 Active 222 DOM
3. 2026-06-16
   days on market $359,900 Active 221 DOM
4. 2026-06-15
   days on market $359,900 Active 220 DOM
5. 2026-06-14
   days on market $359,900 Active 218 DOM
6. 2026-06-10
   days on market $359,900 Active 215 DOM
7. 2026-06-08
   days on market $359,900 Active 213 DOM
8. 2026-06-07
   days on market $359,900 Active 212 DOM
9. 2026-06-05
   days on market $359,900 Active 209 DOM
10. 2026-06-03
    days on market $359,900 Active 208 DOM
11. 2026-06-02
    days on market $359,900 Active 207 DOM
12. 2026-06-01
    days on market $359,900 Active 206 DOM
13. 2026-05-31
    days on market $359,900 Active 205 DOM
14. 2026-05-31
    days on market $359,900 Active 204 DOM
15. 2026-04-08
    status Active
16. 2026-03-31
    historical
17. 2025-11-24
    price $359,900
18. 2025-10-31
    listed $366,900 Active
19. 2025-10-30
    historical 499-char remark

    Show marketing remark (499 chars)

    10,000 Flex Cash w/ full price offer. This split floor plan features hurricane-rated windows, porcelain wood-look tile, and premium granite countertops in both the kitchen and bathrooms. Luxury finishes like floor-to-ceiling tile in the tub and shower, and solid wood cabinets with soft-close features. The grand 8' front door and soaring 9'4'' ceilings create an impressive ambiance, perfect for entertaining. Currently under construction, photos shown are of a previous build with the same layout.

20. 2025-09-30
    listed $369,900 Active 499-char remark

    Show marketing remark (499 chars)

    10,000 Flex Cash w/ full price offer. This split floor plan features hurricane-rated windows, porcelain wood-look tile, and premium granite countertops in both the kitchen and bathrooms. Luxury finishes like floor-to-ceiling tile in the tub and shower, and solid wood cabinets with soft-close features. The grand 8' front door and soaring 9'4'' ceilings create an impressive ambiance, perfect for entertaining. Currently under construction, photos shown are of a previous build with the same layout.

21. 2024-04-25
    soldstatus $26,000
22. 2019-04-02
    soldstatus $12,000
23. 2019-03-28
    soldstatus $6,000 655-char remark

    Show marketing remark (655 chars)

    1 of 2 side-by-side adjacent single family residential lots available in Port Malabar Unit #49 of Palm Bay. Rural setting in this SW Section, both lots are just 3.0 miles - 6 minutes to Bayside High and Westside Elementary Schools, 4.9 miles - 10 minutes to Publix Supermarket, 1.8 miles - 7 minutes to the Compound, and 19.1 miles - 35 minutes to the beaches of Indialantic. From exit #173 of I-95 go west on Malabar Road NE. Turn left on San Filippo Drive SE and proceed south for 7.2 miles. Continue onto DeGroodt Road SW for . 2 miles, and turn left onto St. Andre Boulevard for 1.1 miles. Turn left onto Akola Terrace. The lots will be on your left.

24. 2018-08-21
    listed $6,750 655-char remark

    Show marketing remark (655 chars)

    1 of 2 side-by-side adjacent single family residential lots available in Port Malabar Unit #49 of Palm Bay. Rural setting in this SW Section, both lots are just 3.0 miles - 6 minutes to Bayside High and Westside Elementary Schools, 4.9 miles - 10 minutes to Publix Supermarket, 1.8 miles - 7 minutes to the Compound, and 19.1 miles - 35 minutes to the beaches of Indialantic. From exit #173 of I-95 go west on Malabar Road NE. Turn left on San Filippo Drive SE and proceed south for 7.2 miles. Continue onto DeGroodt Road SW for . 2 miles, and turn left onto St. Andre Boulevard for 1.1 miles. Turn left onto Akola Terrace. The lots will be on your left.

25. 2003-11-03
    soldstatus $15,300
26. 2003-10-08
    soldstatus $13,200

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°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: $32,080
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$6,918
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$10,470
• Taxable loss: −$15,999
• Est. tax savings @ 24.0%: +$3,840
• After-tax cash flow: $-5,782/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): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 112.0

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 20% Black 20% Two or more races 19%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 3% Estonian 2% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -38.22%
• Current HPI: 330.0399
• Rent YoY: ▲ 1.29%
• 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

+2626.5% since first listed

12 events — show timeline

• 2026-04-08 Relisted — SCMLS
• 2026-03-31 Listing Removed — SCMLS
• 2025-11-24 Price Changed $359,900 SCMLS
• 2025-10-31 Listed $366,900 SCMLS
• 2025-10-30 Listing Removed — SCMLS
• 2025-09-30 Listed $369,900 SCMLS
• 2024-04-25 Sold (Public Records) $26,000 Public Records
• 2019-04-02 Sold (Public Records) $12,000 Public Records
• 2019-03-28 Sold (MLS) $6,000 SCMLS
• 2018-08-21 Listed $6,750 SCMLS
• 2003-11-03 Sold (Public Records) $15,300 Public Records
• 2003-10-08 Sold (Public Records) $13,200 Public Records

Property tax history

+18.1%/yr

Latest (2025): $422 · +94.8% YoY. Source: county tax records.