294 Fantasy Ct NE · Palm Bay, FL 32907

$107,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 107 Days on market

Built 1976 4,792 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Community located in Holiday Park. This lovely home is situated on a lot that boasts expansive views of lush greenery with ''room to breathe''! Fully furnished with quality furnishings, ask me about the TV, it's amazing! The roof is brand new 2023, A/C 2020, Water Heater 2020, All appliances are 2023, New flooring and sub-flooring 2023, New Carport 2023! The washer and dryer are only 3 years old. This is a fantastic find with 3 beds/ 2 baths and won't last long! The screened porch is a lovely place to spend your free time and its equipped with custom shades valued at $1500. The kitchen counters were replaced 3 years ago, the water main shut off is new. The exterior of the home was just pressure washed to include the gutters. This home really shows pride of ownership. Don't miss it!

Key facts

• Split-bedroom layout
• Quiet cul-de-sac
• Newer a/c

Tags

• QUIET CUL-DE-SAC
• SPACIOUS FIELD
• NEWER A/C
• NEWER WATER HEATER
• SPLIT-BEDROOM LAYOUT
• LAMINATE WOOD FLOORING

Property features AI

Finance

• HOA & community: Senior community

Exterior

• Parking: 1-car carport
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured home; Faces southwest
• Construction: Vinyl siding; Membrane/metal/other roof
• Exterior features: Screened porch; Side porch; Cleared lot; Paved road access

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Primary bathroom with shower (no tub); Split bedroom layout
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $107k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $97k (9.0% below list) — sets the bar for market timing.

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: Lockmar Elementary School (math 45% / reading 53%, grade D, #1,134 of 2,144 statewide, top 54%, 583 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% 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 60% FRL vs 43% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 55% district-wide (-15 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 739 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• 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 $97,370 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.55% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.15%
• DSCR: 1.72
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $5,100
• Equity at exit: $15,954

10-year hold

• IRR: 11.7%
• Equity multiple: 1.83×
• Total profit: $24,746
• Equity at exit: $9,251

Cash invested: $29,960 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 739
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,653 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$297 /mo · $3,565/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $403

Break-even live

Break-even rent $1,143

Max offer price $107,000

Occupancy floor 71%

Sensitivity live

Price	-10% $464	-5% $434	+0% $403	+5% $373	+10% $343
Rent	-10% $273	-5% $338	+0% $403	+5% $469	+10% $534
Rate	-1.0pp $457	-0.5pp $431	base $403	+0.5pp $376	+1.0pp $347

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Valor Dr SE Palm Bay, FL	1.0–2.0	1.0–2.0	901	$1,937	$2.15	15d	17	0.71mi
1698 Sunny Brook Ln NE Unit G109 Palm Bay, FL	1.0	1.0	658	$1,200	$1.82	20d	1	1.38mi
1961 Convair St SE #102 Palm Bay, FL	1.0	1.0	650	$1,100	$1.69	24d	1	1.48mi

Listing history 29 events

1. 2026-06-18
   days on market $107,000 Active 107 DOM
2. 2026-06-17
   days on market $107,000 Active 106 DOM
3. 2026-06-16
   days on market $107,000 Active 105 DOM
4. 2026-06-15
   days on market $107,000 Active 104 DOM
5. 2026-06-14
   days on market $107,000 Active 102 DOM
6. 2026-06-10
   days on market $107,000 Active 99 DOM
7. 2026-06-08
   days on market $107,000 Active 97 DOM
8. 2026-06-07
   days on market $107,000 Active 96 DOM
9. 2026-06-05
   days on market $107,000 Active 93 DOM
10. 2026-06-03
    days on market $107,000 Active 92 DOM
11. 2026-06-02
    days on market $107,000 Active 91 DOM
12. 2026-06-01
    days on market $107,000 Active 90 DOM
13. 2026-05-31
    days on market $107,000 Active 89 DOM
14. 2026-05-31
    days on market $107,000 Active 88 DOM
15. 2026-04-29
    price $107,000
16. 2026-03-03
    listed $112,000 Active
17. 2023-08-10
    soldstatus $115,000 Closed 796-char remark

    Show marketing remark (796 chars)

    55+ Community located in Holiday Park. This lovely home is situated on a lot that boasts expansive views of lush greenery with ''room to breathe''! Fully furnished with quality furnishings, ask me about the TV, it's amazing! The roof is brand new 2023, A/C 2020, Water Heater 2020, All appliances are 2023, New flooring and sub-flooring 2023, New Carport 2023! The washer and dryer are only 3 years old. This is a fantastic find with 3 beds/ 2 baths and won't last long! The screened porch is a lovely place to spend your free time and its equipped with custom shades valued at $1500. The kitchen counters were replaced 3 years ago, the water main shut off is new. The exterior of the home was just pressure washed to include the gutters. This home really shows pride of ownership. Don't miss it!

18. 2023-07-25
    historical Contingent 796-char remark

    Show marketing remark (796 chars)

    55+ Community located in Holiday Park. This lovely home is situated on a lot that boasts expansive views of lush greenery with ''room to breathe''! Fully furnished with quality furnishings, ask me about the TV, it's amazing! The roof is brand new 2023, A/C 2020, Water Heater 2020, All appliances are 2023, New flooring and sub-flooring 2023, New Carport 2023! The washer and dryer are only 3 years old. This is a fantastic find with 3 beds/ 2 baths and won't last long! The screened porch is a lovely place to spend your free time and its equipped with custom shades valued at $1500. The kitchen counters were replaced 3 years ago, the water main shut off is new. The exterior of the home was just pressure washed to include the gutters. This home really shows pride of ownership. Don't miss it!

19. 2023-07-21
    listed $119,640 Active 796-char remark

    Show marketing remark (796 chars)

    55+ Community located in Holiday Park. This lovely home is situated on a lot that boasts expansive views of lush greenery with ''room to breathe''! Fully furnished with quality furnishings, ask me about the TV, it's amazing! The roof is brand new 2023, A/C 2020, Water Heater 2020, All appliances are 2023, New flooring and sub-flooring 2023, New Carport 2023! The washer and dryer are only 3 years old. This is a fantastic find with 3 beds/ 2 baths and won't last long! The screened porch is a lovely place to spend your free time and its equipped with custom shades valued at $1500. The kitchen counters were replaced 3 years ago, the water main shut off is new. The exterior of the home was just pressure washed to include the gutters. This home really shows pride of ownership. Don't miss it!

20. 2023-07-15
    historical $119,640 796-char remark

    Show marketing remark (796 chars)

    55+ Community located in Holiday Park. This lovely home is situated on a lot that boasts expansive views of lush greenery with ''room to breathe''! Fully furnished with quality furnishings, ask me about the TV, it's amazing! The roof is brand new 2023, A/C 2020, Water Heater 2020, All appliances are 2023, New flooring and sub-flooring 2023, New Carport 2023! The washer and dryer are only 3 years old. This is a fantastic find with 3 beds/ 2 baths and won't last long! The screened porch is a lovely place to spend your free time and its equipped with custom shades valued at $1500. The kitchen counters were replaced 3 years ago, the water main shut off is new. The exterior of the home was just pressure washed to include the gutters. This home really shows pride of ownership. Don't miss it!

21. 2020-07-28
    historical 359-char remark

    Show marketing remark (359 chars)

    Spacious 3 bedroom 2 bathroom home located in Holiday Park! Home features living room/dining room combo open floor plan and enclosed porch perfect for anytime of year. Home is situated on a spacious lot w/ acres of greenspace in the back. . Double sinks in bathroom and plenty of countertop space and cabinets for storage. Hurry! This home will not last long!

22. 2020-02-07
    listed Backups 359-char remark

    Show marketing remark (359 chars)

    Spacious 3 bedroom 2 bathroom home located in Holiday Park! Home features living room/dining room combo open floor plan and enclosed porch perfect for anytime of year. Home is situated on a spacious lot w/ acres of greenspace in the back. . Double sinks in bathroom and plenty of countertop space and cabinets for storage. Hurry! This home will not last long!

23. 2019-05-16
    listed $72,500 359-char remark

    Show marketing remark (359 chars)

    Spacious 3 bedroom 2 bathroom home located in Holiday Park! Home features living room/dining room combo open floor plan and enclosed porch perfect for anytime of year. Home is situated on a spacious lot w/ acres of greenspace in the back. . Double sinks in bathroom and plenty of countertop space and cabinets for storage. Hurry! This home will not last long!

24. 2019-03-27
    soldstatus $58,000
25. 2019-03-21
    soldstatus $58,000
26. 2018-10-13
    listed $58,000
27. 2012-10-16
    soldstatus $26,000
28. 2012-01-13
    listed $30,000
29. 1989-10-01
    soldstatus $45,000

ⓘ 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: $3,565 · $297/mo
• Projected year-2 tax: $3,565 · $297/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 3/10 Moderate
• 🌡 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: $19,839
• − Mortgage interest: −$5,994
• − Property taxes: −$3,565
• − Insurance: −$535
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$3,113
• Taxable income: $3,459
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $4,010/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

+137.8% since first listed

15 events — show timeline

• 2026-04-29 Price Changed $107,000 SCMLS
• 2026-03-03 Listed $112,000 SCMLS
• 2023-08-10 Sold (MLS) $115,000 SCMLS
• 2023-07-25 Contingent — SCMLS
• 2023-07-21 Listed $119,640 SCMLS
• 2023-07-15 Coming Soon $119,640 SCMLS
• 2020-07-28 Listing Removed — SCMLS
• 2020-02-07 Listed — SCMLS
• 2019-05-16 Listed $72,500 SCMLS
• 2019-03-27 Sold (Public Records) $58,000 Public Records
• 2019-03-21 Sold (MLS) $58,000 SCMLS
• 2018-10-13 Listed $58,000 SCMLS
• 2012-10-16 Sold (MLS) $26,000 SCMLS
• 2012-01-13 Listed $30,000 SCMLS
• 1989-10-01 Sold (Public Records) $45,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,565 · -17.8% YoY. Source: county tax records.