115 E Brevard Dr · Melbourne, FL 32935

$175,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 34 Days on market

Built 1959 10,019 sqft lot

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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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.0/10.0
• 1% rule +3.5/10.0
• 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

Great potential for this centrally located CBS property on almost a quarter acre with a Peak-a-Boo river view from the street. Brand new roof, terrazzo floors, each bedroom has 2 windows making it super bright, extra flex space off the kitchen to use as you please. Screened porch, work shed on the back and huge back yard with mature trees. Big concrete pad to use as parking or patio. Ideal for first home, winter retreat, downsizing or rental investment. Come see it!

Key facts

• 0.23 acre lot
• Built 1959
• Listed 34 days

Property features AI

Finance

• Other: Residential zoning (R2)
• HOA & community: No HOA indicated

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer; Public utilities
• Home design: Single-family residence; One-story; Faces north
• Construction: Concrete construction; Shingle roof; Slab foundation; Built on a single level
• Exterior features: Paved road access; Lot roughly 0.23 acres (approx. 77.33 x 135)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-2 ($-29/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (15.3% below list).
• Recommended offer: $148k (15.3% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents flat; 332 active listings in the ZIP; 6 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).

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 34 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $150k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $148,177 (15.3% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.85% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 9.8

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: -19.1%
• Equity multiple: 0.34×
• Total profit: $-32,104
• Equity at exit: $26,093

10-year hold

• IRR: -17.6%
• Equity multiple: 0.14×
• Total profit: $-42,187
• Equity at exit: $15,131

Cash invested: $49,000 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,482 high
• Mortgage (P&I): −$918
• Tax from tax record: −$182 /mo · $2,188/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-2

Break-even live

Break-even rent $1,485

Max offer price $174,578

Occupancy floor 95%

Sensitivity live

Price	-10% $97	-5% $47	+0% $-2	+5% $-52	+10% $-101
Rent	-10% $-119	-5% $-61	+0% $-2	+5% $56	+10% $115
Rate	-1.0pp $86	-0.5pp $42	base $-2	+0.5pp $-48	+1.0pp $-94

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 East Avenue B Apt 1 Melbourne, FL	2.0	1.0	900	$1,200	$1.33	24d	1	0.15mi
108 E Avenue D Melbourne, FL	2.0	2.0	1087	$1,800	$1.66	24d	1	0.22mi
20 Elton St Unit 20C Melbourne, FL	2.0	1.0	744	$1,100	$1.48	24d	1	0.32mi
600 Hickory St Melbourne, FL	2.0	1.0	912	$1,695	$1.86	21d	1	0.64mi
484 Poinciana Dr Melbourne, FL	2.0	1.0	780	$1,600	$2.05	19d	1	0.71mi
1023 Gull Ln Melbourne, FL	1.0–3.0	1.0–2.0	1072	$1,924	$1.79	14d	31	0.98mi

Listing history 17 events

1. 2026-06-14
   statusdays on market $175,000 Pending 34 DOM
2. 2026-06-10
   days on market $175,000 Active 32 DOM
3. 2026-06-08
   days on market $175,000 Active 30 DOM
4. 2026-06-07
   days on market $175,000 Active 29 DOM
5. 2026-06-05
   days on market $175,000 Active 26 DOM
6. 2026-06-03
   days on market $175,000 Active 25 DOM
7. 2026-06-02
   days on market $175,000 Active 24 DOM
8. 2026-06-01
   days on market $175,000 Active 23 DOM
9. 2026-05-31
   days on market $175,000 Active 22 DOM
10. 2026-05-31
    days on market $175,000 Active 21 DOM
11. 2026-05-09
    listed $175,000 Active
12. 2022-04-28
    soldstatus $150,000
13. 2017-01-11
    soldstatus $75,000
14. 2017-01-10
    soldstatus $75,000 470-char remark

    Show marketing remark (470 chars)

    Great potential for this centrally located CBS property on almost a quarter acre with a Peak-a-Boo river view from the street. Brand new roof, terrazzo floors, each bedroom has 2 windows making it super bright, extra flex space off the kitchen to use as you please. Screened porch, work shed on the back and huge back yard with mature trees. Big concrete pad to use as parking or patio. Ideal for first home, winter retreat, downsizing or rental investment. Come see it!

15. 2016-11-11
    listed $79,900 470-char remark

    Show marketing remark (470 chars)

    Great potential for this centrally located CBS property on almost a quarter acre with a Peak-a-Boo river view from the street. Brand new roof, terrazzo floors, each bedroom has 2 windows making it super bright, extra flex space off the kitchen to use as you please. Screened porch, work shed on the back and huge back yard with mature trees. Big concrete pad to use as parking or patio. Ideal for first home, winter retreat, downsizing or rental investment. Come see it!

16. 2006-05-16
    soldstatus $125,000
17. 1973-07-01
    soldstatus $13,000

ⓘ 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: $2,188 · $182/mo
• Projected year-2 tax: $2,188 · $182/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 10/10 Extreme 7 d/yr ≥105°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: $17,781
• − Mortgage interest: −$9,803
• − Property taxes: −$2,188
• − Insurance: −$875
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$5,091
• Taxable loss: −$3,021
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $696/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

+1246.2% since first listed

7 events — show timeline

• 2026-05-09 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2022-04-28 Sold (Public Records) $150,000 Public Records
• 2017-01-11 Sold (Public Records) $75,000 Public Records
• 2017-01-10 Sold (MLS) $75,000 SCMLS
• 2016-11-11 Listed $79,900 SCMLS
• 2006-05-16 Sold (Public Records) $125,000 Public Records
• 1973-07-01 Sold (Public Records) $13,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,188 · -6.8% YoY. Source: county tax records.