4760 White Heron · Melbourne, FL 32934

$234,900

3 bd · 2.0 ba · 1,264 sqft · SingleFamily public records · 127 Days on market

Built 1993 5,227 sqft lot $90/mo HOA · 4% of rent

---

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 +13.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.7/10.0
• DSCR +4.2/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. H & B 4/29/2026, 4:00 PM New Roof and repiping. Charming 1-story home featuring 3 bedrooms and 2 bathrooms, complete with a 2-car garage. Enjoy a welcoming front porch and an open layout with a kitchen bar overlooking the living room. The primary suite includes a double vanity for added convenience. Relax or entertain in the screened-in back porch, offering a comfortable outdoor space year-round. A great blend of functionality and comfort!

Key facts

• Double vanity
• Kitchen bar
• Front porch

Tags

• FRONT PORCH
• OPEN LAYOUT
• KITCHEN BAR
• DOUBLE VANITY
• SCREENED-IN BACK PORCH

Property features AI

Finance

• Other: Total acreage between 0 and less than 1/4 acre; Lot size approximately 0.12 acre
• Financial info: No lease restrictions indicated
• HOA & community: Cypress Bend HOA; HOA required; Monthly HOA $90 (Quarterly fee $270); Pets allowed

Exterior

• Parking: Attached garage with 2 garage spaces
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Single-family residence; One story; Faces south; Located in a PUD
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built with vinyl siding
• Exterior features: Other exterior features; Paved road

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Open floor plan; 6 total rooms
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $20 ($243/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (3.3% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: W. Melbourne Elementary School For Science (math 88% / reading 86%, grade A+, #24 of 2,144 statewide, top 1%, 549 students, 18% FRL); Lyndon B. Johnson Middle School (math 40% / reading 42%, grade F, #353 of 571 statewide, top 63%, 610 students, 61% FRL); Eau Gallie High School (math 20% / reading 49%, grade F, #386 of 667 statewide, top 59%, 1,586 students, 55% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents rising (+3.7%/yr); 104 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 $2k of loan paydown is wiped out by about $7k 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 127 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $235k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.97% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.37%
• DSCR: 1.02
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-34,989
• Equity at exit: $35,024

10-year hold

• IRR: -4.8%
• Equity multiple: 0.67×
• Total profit: $-21,387
• Equity at exit: $20,310

Cash invested: $65,772 (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 32934

• Home prices YoY: -20.0%
• Rents YoY: 3.7%
• Active inventory: 104
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$355 /mo · $4,263/yr
• Insurance: −$98
• HOA: −$90
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $20

Break-even live

Break-even rent $2,247

Max offer price $234,900

Occupancy floor 94%

Sensitivity live

Price	-10% $153	-5% $87	+0% $20	+5% $-46	+10% $-113
Rent	-10% $-159	-5% $-70	+0% $20	+5% $110	+10% $200
Rate	-1.0pp $139	-0.5pp $80	base $20	+0.5pp $-41	+1.0pp $-103

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1758 Caleb Ln Melbourne, FL	3.0	2.0	1400	$2,350	$1.68	16d	1	1.34mi
4063 Palladian Way Melbourne, FL	4.0	2.0	1822	$2,300	$1.26	25d	1	1.42mi

HOA detail

• Monthly dues: $90 · $1,080/yr

Listing history 20 events

1. 2026-06-09
   status $234,900 Pending 127 DOM
2. 2026-06-08
   days on market $234,900 Active 127 DOM
3. 2026-06-07
   days on market $234,900 Active 126 DOM
4. 2026-06-05
   days on market $234,900 Active 123 DOM
5. 2026-06-03
   days on market $234,900 Active 122 DOM
6. 2026-06-02
   days on market $234,900 Active 121 DOM
7. 2026-06-01
   days on market $234,900 Active 120 DOM
8. 2026-05-31
   days on market $234,900 Active 119 DOM
9. 2026-05-31
   days on market $234,900 Active 118 DOM
10. 2026-05-07
    status Active
11. 2026-05-02
    status Pending
12. 2026-04-24
    price $234,900
13. 2026-03-27
    price $254,500
14. 2026-03-19
    status Active
15. 2026-01-16
    status Pending
16. 2026-01-09
    price $271,500
17. 2025-11-26
    listed $284,900 Active
18. 1999-06-17
    soldstatus $93,500
19. 1993-03-11
    soldstatus $101,100
20. 1992-12-01
    soldstatus $782,000

ⓘ 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: $4,263 · $355/mo
• Projected year-2 tax: $4,263 · $355/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $27,269
• − Mortgage interest: −$13,158
• − Property taxes: −$4,263
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − HOA: −$1,080
• − Depreciation: −$6,833
• Taxable loss: −$3,603
• Est. tax savings @ 24.0%: +$865
• After-tax cash flow: $1,108/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 18,564
• Household income: $104,369
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 233.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Romanian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -78.68%
• Current HPI: 315.3069
• Rent YoY: ▲ 3.72%
• 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

-70.0% since first listed

11 events — show timeline

• 2026-05-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $234,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $254,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $271,500 Stellar MLS as Distributed by MLS Grid
• 2025-11-26 Listed $284,900 Stellar MLS as Distributed by MLS Grid
• 1999-06-17 Sold (Public Records) $93,500 Public Records
• 1993-03-11 Sold (Public Records) $101,100 Public Records
• 1992-12-01 Sold (Public Records) $782,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $4,263 · +5.0% YoY. Source: county tax records.