813 Moment St

Sharpes, FL 32926

$348,000D-

4 bd · 2.0 ba · 1,654 sqft · Built 2021 · SingleFamily · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,447/mo
• Mortgage (P&I): −$1,825
• Tax + insurance: −$207
• HOA: −$29
• Vac / Maint / Mgmt: −$514
• Net cashflow: $-128/mo
• Annual: $-1,530/yr
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• 1% rule: 0.70%
• Cash to close: $97,440

Investor read

• This is a 4-bed/2.0-bath single-family listed at $348k.
• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (29.7% below list).
• It's been on market 199 days — a 12% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $245k (29.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#302 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: employment C-, 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: Fairglen Elementary School (math 34% / reading 38%, grade F, #1,670 of 2,144 statewide, top 78%, 617 students, 71% FRL); Cocoa High School (math 21% / reading 27%, grade F, #529 of 667 statewide, top 80%, 1,551 students, 73% FRL) — zoned schools average 72% FRL vs 43% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 55% district-wide (-25 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 fast (+5.6%/yr); 291 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• This rent runs 42% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 199 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.