1214 Island Green Dr NE Unit B3-9 · Palm Bay, FL 32905

$259,900

3 bd · 2.0 ba · 2,097 sqft · Townhouse public records · 2 Days on market

Built 1986 2,178 sqft lot $242/mo HOA · 11% of rent

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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 +11.0/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

Huge Space, Lake View and Low HOA. One of the largest townhomes in the area boasting a 2-car garage, multiple walk-in closets, and a massive screened patio. Enjoy vaulted ceilings, a 2nd-floor loft, and a primary suite balcony overlooking a majestic oak reflecting on the lake. The kitchen features real wood cabinets and granite countertops. 2025 water heater and 2018 roof. Close to shopping and dining--minutes to the beach and 1hr to Orlando.

Key facts

• Expansive back porch
• Large kitchen
• Granite countertops

Tags

• PRIVATE LANDSCAPED COURTYARD
• EXPANSIVE BACK PORCH
• LARGE KITCHEN
• BREAKFAST BAR
• GRANITE COUNTERTOPS
• JACK AND JILL STYLE BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $260k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (17.7% below list).
• Recommended offer: $214k (17.7% 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: 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 soft (-0.5%/yr); 321 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• At $2,140/mo this rent would consume 46% of the median local household income ($56k/yr) (locally 1962% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $54k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $260k implies a 126% 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 $213,965 (17.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.6%
• Equity multiple: 0.24×
• Total profit: $-55,220
• Equity at exit: $38,752

10-year hold

• IRR: -27.2%
• Equity multiple: -0.11×
• Total profit: $-81,026
• Equity at exit: $22,471

Cash invested: $72,772 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$85 /mo · $1,019/yr
• Insurance: −$108
• HOA: −$242
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-108

Break-even live

Break-even rent $2,276

Max offer price $240,850

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Castleford Ave NE Palm Bay, FL	3.0	2.0	1604	$2,150	$1.34	23d	1	0.14mi
1327 Cherry Hills Rd NE Palm Bay, FL	3.0	2.0	1706	$2,800	$1.64	14d	1	0.47mi
997 Mariposa Dr NE Palm Bay, FL	2.0	2.0	1722	$1,800	$1.05	23d	1	0.49mi
1497 Krin Ct NE Palm Bay, FL	3.0	2.0	1712	$2,400	$1.40	21d	1	0.54mi
787 Seymour Rd NE Palm Bay, FL	3.0	2.0	2020	$2,250	$1.11	14d	1	0.59mi
1231 Mariposa Dr NE Palm Bay, FL	4.0	2.0	1650	$2,150	$1.30	23d	1	0.71mi
194 Holiday Park Blvd NE Palm Bay, FL	3.0	2.0	1404	$1,695	$1.21	23d	1	1.15mi
1807 Edith St NE Palm Bay, FL	3.0	2.0	1814	$1,800	$0.99	23d	1	1.15mi
1274 Cimarron Cir NE Palm Bay, FL	4.0	2.5	2494	$3,000	$1.20	23d	1	1.17mi
1015 Venetian Dr #104 Melbourne, FL	2.0	2.0	1438	$1,750	$1.22	23d	1	1.25mi
4775 Lake Waterford Way W Unit 2-113 Melbourne, FL	2.0	3.0	1915	$1,850	$0.97	23d	1	1.29mi
1040 Venetian Dr #203 Melbourne, FL	3.0	2.0	1781	$1,700	$0.95	23d	1	1.31mi
188 Hidden Woods Pl Melbourne, FL	3.0	2.5	1648	$2,100	$1.27	23d	1	1.36mi
2152 Spring Creek Cir NE Palm Bay, FL	3.0	2.0	1465	$2,249	$1.54	23d	1	1.39mi
2012 Beekman St NE Palm Bay, FL	3.0	2.0	1613	$2,000	$1.24	23d	1	1.41mi
4535 Amore Ln Melbourne, FL	3.0	2.5	1463	$2,144	$1.47	14d	4	1.42mi

HOA detail

• Monthly dues: $242 · $2,904/yr
• Likely covers: water

Listing history 3 events

1. 2026-06-18
   days on market $259,900 Coming Soon 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $259,900 Coming Soon 1 DOM

ⓘ 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: $1,019 · $85/mo
• Projected year-2 tax: $2,157 · $180/mo
• Expected delta: +$1,138/yr (+$95/mo · 111.7%)

ⓘ 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 · 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: $25,676
• − Mortgage interest: −$14,558
• − Property taxes: −$1,019
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − HOA: −$2,904
• − Depreciation: −$7,561
• Taxable loss: −$5,774
• Est. tax savings @ 24.0%: +$1,386
• After-tax cash flow: $92/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+120.3% since first listed

18 events — show timeline

• 2026-06-16 Coming Soon $259,900 SCMLS
• 2026-05-03 Price Changed $259,900 SCMLS
• 2026-03-25 Price Changed $279,900 SCMLS
• 2026-02-24 Relisted — SCMLS
• 2026-02-03 Pending — SCMLS
• 2026-02-03 Listing Removed — SCMLS
• 2025-12-09 Contingent — SCMLS
• 2025-11-15 Relisted — SCMLS
• 2025-11-14 Listing Removed — SCMLS
• 2025-10-21 Price Changed $289,900 SCMLS
• 2025-05-29 Price Changed $299,900 SCMLS
• 2025-05-14 Listed $314,000 SCMLS
• 2024-10-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-07-25 Price Changed $365,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-26 Listed $375,000 Stellar MLS as Distributed by MLS Grid
• 2014-04-02 Sold (Public Records) $115,000 Public Records
• 1991-02-28 Sold (Public Records) $130,000 Public Records
• 1986-10-01 Sold (Public Records) $118,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,019 · +3.8% YoY. Source: county tax records.