566 Marnie Cir · West Melbourne, FL 32904

$80,000

2 bd · 1.0 ba · 690 sqft · Manufactured public records · 317 Days on market

Built 1976 5,227 sqft lot $124/mo HOA · 6% of rent

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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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in a highly sought-after 55+ community of Hollywood Estates. Where you own the land and your monthly maintenance fee is only $97. Located in the center of town, next to shopping and restaurants. This home is ready to move-in, it's clean, it's fully furnished and it has the feeling of home. Has a Florida room facing the west and a separate laundry room/storage area. This one won't last long it's the lowest priced home in the community.

Key facts

• Rv parking
• Community pool
• Zero carpet

Tags

• YOU OWN THE LAND
• ZERO CARPET
• SPACIOUS FLORIDA ROOM
• LARGE SEPARATE LAUNDRY ROOM
• COMMUNITY POOL
• RV PARKING

Property features AI

Finance

• Other: Unfurnished
• HOA & community: Part of Hollywood Estates; Monthly association fee of $124; Association fee covers grounds maintenance; Community amenities: clubhouse, RV/boat storage, shuffleboard court; Senior community

Exterior

• Parking: Carport (1 space); Additional parking; On-street parking; RV access/parking
• Security: Smoke detector(s)
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured home; Faces west; Used as a manufactured residential home
• Construction: Frame construction; Vinyl siding; Other roof
• Exterior features: Covered front and side porches; Patio; Screened porch; Other lot features; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Wall/window unit(s); Electric cooling
• Interior features: Smoke detector(s); Storm shutters
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#73 in FL, #1,214 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: commute D+, amenities F.
• 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: Meadowlane Primary Elementary School (650 students, 47% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents soft (-0.3%/yr); 312 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $553 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $39k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.51% ✓
• Cap rate: 19.86%
• Cash-on-cash: 48.44%
• DSCR: 3.16
• GRM: 3.3

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: 42.3%
• Equity multiple: 2.73×
• Total profit: $38,853
• Equity at exit: $11,928

10-year hold

• IRR: 46.9%
• Equity multiple: 4.83×
• Total profit: $85,684
• Equity at exit: $6,917

Cash invested: $22,400 (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 32904

• Rents YoY: -0.3%
• Active inventory: 312
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,010 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$106 /mo · $1,278/yr
• Insurance: −$33
• HOA: −$124
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $904

Break-even live

Break-even rent $865

Max offer price $80,000

Occupancy floor 50%

Sensitivity live

Price	-10% $950	-5% $927	+0% $904	+5% $882	+10% $859
Rent	-10% $746	-5% $825	+0% $904	+5% $984	+10% $1,063
Rate	-1.0pp $945	-0.5pp $925	base $904	+0.5pp $884	+1.0pp $862

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4850 Heritage Lakes BLVD West Melbourne, FL	1.0–3.0	1.0–2.5	1018	$2,070	$2.03	16d	119	0.81mi
2114 Nebula Way West Melbourne, FL	1.0–2.0	1.0–2.0	982	$2,031	$2.07	15d	15	1.22mi

HOA detail

• Monthly dues: $124 · $1,488/yr

Listing history 14 events

1. 2026-05-15
   status Pending
2. 2026-04-16
   status Active
3. 2026-04-09
   status Pending
4. 2026-03-03
   price $80,000
5. 2025-10-22
   price $100,000
6. 2025-07-16
   price $112,000
7. 2025-06-24
   listed $119,000 Active
8. 2019-04-02
   soldstatus $69,000 447-char remark

   Show marketing remark (447 chars)

   Located in a highly sought-after 55+ community of Hollywood Estates. Where you own the land and your monthly maintenance fee is only $97. Located in the center of town, next to shopping and restaurants. This home is ready to move-in, it's clean, it's fully furnished and it has the feeling of home. Has a Florida room facing the west and a separate laundry room/storage area. This one won't last long it's the lowest priced home in the community.

9. 2019-04-02
   soldstatus $69,000

   Show marketing remark (447 chars)

   Located in a highly sought-after 55+ community of Hollywood Estates. Where you own the land and your monthly maintenance fee is only $97. Located in the center of town, next to shopping and restaurants. This home is ready to move-in, it's clean, it's fully furnished and it has the feeling of home. Has a Florida room facing the west and a separate laundry room/storage area. This one won't last long it's the lowest priced home in the community.

10. 2019-02-04
    listed $73,000 447-char remark

    Show marketing remark (447 chars)

    Located in a highly sought-after 55+ community of Hollywood Estates. Where you own the land and your monthly maintenance fee is only $97. Located in the center of town, next to shopping and restaurants. This home is ready to move-in, it's clean, it's fully furnished and it has the feeling of home. Has a Florida room facing the west and a separate laundry room/storage area. This one won't last long it's the lowest priced home in the community.

11. 2011-09-22
    soldstatus $20,000 391-char remark

    Show marketing remark (391 chars)

    Own your lot in this convenient 55+ community located in West Melbourne. Fantastic amenities include community clubhouse, pool, shuffleboard and lots of activities. Beautifully landscaped lot with carport and utility/storage area. Home features eat-in kitchen along with an enclosed sun room. Fantastic opportunity to enjoy a carefree, affordable lifestyle. Competitively priced to sell now.

12. 2011-08-17
    listed $20,000 391-char remark

    Show marketing remark (391 chars)

    Own your lot in this convenient 55+ community located in West Melbourne. Fantastic amenities include community clubhouse, pool, shuffleboard and lots of activities. Beautifully landscaped lot with carport and utility/storage area. Home features eat-in kitchen along with an enclosed sun room. Fantastic opportunity to enjoy a carefree, affordable lifestyle. Competitively priced to sell now.

13. 2000-07-19
    soldstatus $30,000
14. 1977-09-01
    soldstatus $225,000

ⓘ 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: $1,278 · $106/mo
• Projected year-2 tax: $1,278 · $106/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 1/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥106°F today · 12 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: $24,116
• − Mortgage interest: −$4,481
• − Property taxes: −$1,278
• − Insurance: −$400
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − HOA: −$1,488
• − Depreciation: −$2,327
• Taxable income: $10,283
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $8,384/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 — West Melbourne

• Score: 82/100
• State rank: #73
• US rank: #1214

Category grades

Amenities F Commute D+ Cost of living B Crime A- Employment A+ Housing A+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Melbourne, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 37,241
• Household income: $90,673
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 597.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 10% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Chinese 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: ▼ -195.98%
• Current HPI: 304.2546
• Rent YoY: ▼ -0.32%
• 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

-64.4% since first listed

14 events — show timeline

• 2026-05-15 Pending — SCMLS
• 2026-04-16 Relisted — SCMLS
• 2026-04-09 Pending — SCMLS
• 2026-03-03 Price Changed $80,000 SCMLS
• 2025-10-22 Price Changed $100,000 SCMLS
• 2025-07-16 Price Changed $112,000 SCMLS
• 2025-06-24 Listed $119,000 SCMLS
• 2019-04-02 Sold (Public Records) $69,000 Public Records
• 2019-04-02 Sold (MLS) $69,000 SCMLS
• 2019-02-04 Listed $73,000 SCMLS
• 2011-09-22 Sold (MLS) $20,000 SCMLS
• 2011-08-17 Listed $20,000 SCMLS
• 2000-07-19 Sold (Public Records) $30,000 Public Records
• 1977-09-01 Sold (Public Records) $225,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,278 · +9.2% YoY. Source: county tax records.