2455 Pepper Ave · Melbourne, FL 32935

$165,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 135 Days on market

Built 1958 6,534 sqft lot

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Why this score? — see what drove the C 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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

-

Key facts

• Fenced yard
• Centrally located
• Wickham park

Tags

• NEW ROOF
• FENCED YARD
• 10 MINUTES FROM THE BEACH
• EAU GALLIE ART DISTRICT
• WICKHAM PARK
• CENTRALLY LOCATED

Property features AI

Exterior

• Parking: Other parking type
• Utilities: 150 Amp electrical service; Public sewer; Cable available
• Home design: Single family residence; One story; West-facing
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Back yard fencing; Shed(s); Other exterior features

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling units; No central heating listed
• Interior features: Eat-in kitchen; Primary bathroom with shower (no tub)
• Laundry & utility: In-unit laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/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 $164k (0.8% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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: Sabal Elementary School (math 38% / reading 41%, grade F, #1,513 of 2,144 statewide, top 73%, 503 students, 69% 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 average 62% FRL vs 43% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 55% district-wide (-17 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; 332 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 30% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 135 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $165k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 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 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.99% ✗
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.38
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-10,107
• Equity at exit: $24,602

10-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $1,993
• Equity at exit: $14,266

Cash invested: $46,200 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,637 high
• Mortgage (P&I): −$865
• Tax from tax record: −$35 /mo · $417/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $325

Break-even live

Break-even rent $1,226

Max offer price $165,000

Occupancy floor 75%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2587 Pepper Ave Melbourne, FL	3.0	1.0	800	$1,575	$1.97	23d	1	0.17mi
848 Comanche Ave Melbourne, FL	3.0	2.0	1080	$1,950	$1.81	23d	1	0.17mi
2659 Burns Ave Melbourne, FL	3.0	1.0	1044	$1,850	$1.77	23d	1	0.25mi
2794 Rhonda Ln Melbourne, FL	2.0	2.0	996	$1,900	$1.91	23d	1	0.42mi
1225 N Wickham Rd #726 Melbourne, FL	2.0	2.0	859	$1,500	$1.75	21d	1	0.57mi
2910 Zephyr Ln Melbourne, FL	2.0	1.0	828	$1,700	$2.05	23d	1	0.61mi
1965 Barkley Ave Melbourne, FL	3.0	1.0	1000	$1,600	$1.60	23d	1	0.65mi
820 N Wickham Rd Melbourne, FL	1.0–2.0	1.0	720	$1,385	$1.92	14d	8	0.75mi
1688 Eisenhower Ave Melbourne, FL	3.0	1.5	988	$1,700	$1.72	23d	1	0.86mi
653 Ridge Club Dr #27 Melbourne, FL	2.0	1.5	900	$1,550	$1.72	23d	1	0.92mi
500 N Wickham Rd Melbourne, FL	2.0	2.0	1000	$1,449	$1.45	14d	8	0.93mi
1032 Hidden Harbour Dr Melbourne, FL	1.0	1.0	921	$1,249	$1.36	23d	1	1.27mi
1032 Hidden Harbour Dr Melbourne, FL	1.0	1.0	752	$1,259	$1.67	14d	1	1.27mi
2242 Flower Tree Cir Melbourne, FL	2.0	2.0	879	$1,300	$1.48	23d	1	1.35mi
109 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	21d	1	1.36mi
196 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	23d	1	1.37mi
214 San Juan Cir Melbourne, FL	1.0	1.0	708	$1,250	$1.77	23d	1	1.38mi

Listing history 27 events

1. 2026-06-18
   days on market $165,000 Active 135 DOM
2. 2026-06-17
   days on market $165,000 Active 134 DOM
3. 2026-06-16
   days on market $165,000 Active 133 DOM
4. 2026-06-15
   days on market $165,000 Active 132 DOM
5. 2026-06-14
   statusdays on market $165,000 Active 130 DOM
6. 2026-06-10
   days on market $165,000 Active Under Contract 127 DOM
7. 2026-06-08
   days on market $165,000 Active Under Contract 125 DOM
8. 2026-06-07
   days on market $165,000 Active Under Contract 124 DOM
9. 2026-06-05
   days on market $165,000 Active Under Contract 121 DOM
10. 2026-06-03
    days on market $165,000 Active Under Contract 120 DOM
11. 2026-06-02
    days on market $165,000 Active Under Contract 119 DOM
12. 2026-06-01
    statusdays on market $165,000 Active Under Contract 118 DOM
13. 2026-05-31
    days on market $165,000 Active 117 DOM
14. 2026-05-31
    pricedays on market $165,000 Active 116 DOM
15. 2026-05-07
    price $174,900
16. 2026-04-04
    status Active
17. 2026-03-04
    historical Active Under Contract
18. 2026-02-25
    status Active
19. 2026-02-20
    historical Active Under Contract
20. 2026-02-19
    status Active
21. 2026-02-06
    historical Active Under Contract
22. 2026-02-03
    listed $179,900 Active
23. 2017-03-23
    historical 1-char remark

    Show marketing remark (1 chars)

    -

24. 2011-04-05
    soldstatus $47,500
25. 2011-03-30
    soldstatus $47,500 424-char remark

    Show marketing remark (424 chars)

    ESTATE SALE! Great deal on a lovingly maintained and updated home, with workshop in shed. Bonus Room could be used as 3rd bedroom. Wonderful established neighborhood within minutes to every convenience! All modern appliances are included - even washer & dryer! Recently replaced roof with dimensional shingles. Brand new electric and breakers. Clean as a whistle! Nice and pretty and ready for the lucky new homeowner!

26. 2011-01-07
    listed $54,900 424-char remark

    Show marketing remark (424 chars)

    ESTATE SALE! Great deal on a lovingly maintained and updated home, with workshop in shed. Bonus Room could be used as 3rd bedroom. Wonderful established neighborhood within minutes to every convenience! All modern appliances are included - even washer & dryer! Recently replaced roof with dimensional shingles. Brand new electric and breakers. Clean as a whistle! Nice and pretty and ready for the lucky new homeowner!

27. 2010-11-18
    listed $65,000 1-char remark

    Show marketing remark (1 chars)

    -

ⓘ 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: $417 · $35/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$952/yr (+$79/mo · 228.3%)

ⓘ 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 ≥105°F today · 25 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: $19,648
• − Mortgage interest: −$9,243
• − Property taxes: −$417
• − Insurance: −$825
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$4,800
• Taxable income: $1,220
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $3,604/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): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

+169.1% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $174,900 SCMLS
• 2026-04-04 Relisted — SCMLS
• 2026-03-04 Contingent — SCMLS
• 2026-02-25 Relisted — SCMLS
• 2026-02-20 Contingent — SCMLS
• 2026-02-19 Relisted — SCMLS
• 2026-02-06 Contingent — SCMLS
• 2026-02-03 Listed $179,900 SCMLS
• 2017-03-23 Listing Removed — SCMLS
• 2011-04-05 Sold (Public Records) $47,500 Public Records
• 2011-03-30 Sold (MLS) $47,500 SCMLS
• 2011-01-07 Listed $54,900 SCMLS
• 2010-11-18 Listed $65,000 SCMLS

Property tax history

+1.5%/yr

Latest (2025): $417 · +8.6% YoY. Source: county tax records.