1777 Sophias Dr #205 · Viera East, FL 32940

$169,000

1 bd · 1.0 ba · 679 sqft · Condo public records · 39 Days on market

Built 2003 $305/mo HOA · 20% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0

Listing remarks MLS

This charming 1-bedroom, 1-bath condo offers the convenience of a private garage plus an additional storage closet. The home comes fully equipped with all appliances, including a washer and dryer. Bedroom has a large walk in closet. Located in a gated community, residents enjoy access to a community pool, clubhouse, and a peaceful picnic area just behind the building. The HOA fee includes cable, internet, exterior insurance, and maintenance, making for easy, low-maintenance living. The community allows up to two pets and has a six-month minimum rental requirement. Ideally situated close to new shopping, dining, and everyday conveniences.

Key facts

• Gated community
• Fitness center
• Clubhouse

Tags

• GATED COMMUNITY
• DETACHED GARAGE
• SEPARATE EXTERIOR STORAGE UNIT
• HEATED POOL
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Other: Unit is unfurnished; Land lease: yes
• HOA & community: Association: Lakes at Viera East Condo; Monthly association fee; Association amenities include clubhouse, fitness center, spa/hot tub, gated access, grounds maintenance, off-site management, and trash service; Association fee includes cable TV, internet, grounds and structure maintenance, and trash

Exterior

• Parking: Detached garage; Garage door opener; Additional parking and parking lot; 1 garage space
• Security: Gated community; Security gate; Smoke detector(s)
• Utilities: Public sewer; Water connected; Electricity connected; Cable connected
• Home design: Condominium; Entry on level 2; Southeast-facing; 3 total stories; Single-level unit
• Construction: Concrete and stucco construction; Shingle roof; Built with a foundation suitable for condo construction
• Exterior features: Security gate; Smoke detector(s); Private asphalt road

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air
• Interior features: Breakfast bar; Ceiling fan(s); Open floor plan; Primary bath with tub/shower
• Laundry & utility: Stacked washer/dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-244 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (8.1% below list).
• Recommended offer: $126k (25.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#141 in FL, #1,964 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing 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: Manatee Elementary School (math 85% / reading 84%, grade A+, #43 of 2,144 statewide, top 2%, 897 students, 19% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 17% FRL vs 43% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 74% at this address vs 55% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.0%/yr); 583 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent is only 17% of the median local income ($110k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $681 appreciation (0.4% local appreciation)).
• 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 39 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y ago; this cycle's ask is 11555% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $117k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $125,864 (25.5% 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 39 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 4.56%
• Cash-on-cash: -6.19%
• DSCR: 0.72
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.61×
• Total profit: $-18,666
• Equity at exit: $52,507

10-year hold

• IRR: -3.1%
• Equity multiple: 0.66×
• Total profit: $-16,009
• Equity at exit: $65,926

Cash invested: $47,320 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 583
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,553 high
• Mortgage (P&I): −$886
• Tax from tax record: −$209 /mo · $2,513/yr
• Insurance: −$70
• HOA: −$305
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-244

Break-even live

Break-even rent $1,862

Max offer price $125,864

Occupancy floor —

Sensitivity live

Price	-10% $-149	-5% $-196	+0% $-244	+5% $-292	+10% $-340
Rent	-10% $-367	-5% $-306	+0% $-244	+5% $-183	+10% $-121
Rate	-1.0pp $-159	-0.5pp $-201	base $-244	+0.5pp $-288	+1.0pp $-333

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1776 Sophias Dr Unit LVE105 Melbourne, FL	1.0	1.0	679	$1,495	$2.20	14d	1	0.03mi
1777 Sophias Dr #301 Melbourne, FL	1.0	1.0	679	$1,450	$2.14	24d	1	0.03mi
5683 Star Rush Dr #203 Melbourne, FL	1.0	1.0	679	$1,400	$2.06	24d	1	0.16mi
1703 Mission Bay Cir Rockledge, FL	1.0–3.0	1.0–2.0	927	$1,050	$1.13	14d	12	0.49mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$1,784	$1.61	14d	27	0.55mi
6431 Borasco Dr Melbourne, FL	1.0–2.0	1.0–2.0	869	$1,450	$1.67	19d	2	1.16mi
6470 Borasco Dr #2102 Melbourne, FL	1.0	1.0	598	$1,500	$2.51	19d	1	1.19mi
6440 Borasco Dr Melbourne, FL	1.0	1.0	598	$1,495	$2.50	21d	1	1.23mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: internetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-05-21
   historical $1,350
2. 2026-05-05
   price $1,350
3. 2026-05-04
   price $169,000
4. 2026-04-17
   listed $1,450
5. 2026-04-17
   listed $179,900 Active
6. 2026-03-31
   historical $1,475
7. 2026-03-30
   historical 645-char remark

   Show marketing remark (645 chars)

   This charming 1-bedroom, 1-bath condo offers the convenience of a private garage plus an additional storage closet. The home comes fully equipped with all appliances, including a washer and dryer. Bedroom has a large walk in closet. Located in a gated community, residents enjoy access to a community pool, clubhouse, and a peaceful picnic area just behind the building. The HOA fee includes cable, internet, exterior insurance, and maintenance, making for easy, low-maintenance living. The community allows up to two pets and has a six-month minimum rental requirement. Ideally situated close to new shopping, dining, and everyday conveniences.

8. 2026-03-20
   price $1,475
9. 2026-03-19
   price $179,900 645-char remark

   Show marketing remark (645 chars)

   This charming 1-bedroom, 1-bath condo offers the convenience of a private garage plus an additional storage closet. The home comes fully equipped with all appliances, including a washer and dryer. Bedroom has a large walk in closet. Located in a gated community, residents enjoy access to a community pool, clubhouse, and a peaceful picnic area just behind the building. The HOA fee includes cable, internet, exterior insurance, and maintenance, making for easy, low-maintenance living. The community allows up to two pets and has a six-month minimum rental requirement. Ideally situated close to new shopping, dining, and everyday conveniences.

10. 2026-01-28
    listed $1,495
11. 2026-01-23
    listed $192,500 Active 645-char remark

    Show marketing remark (645 chars)

    This charming 1-bedroom, 1-bath condo offers the convenience of a private garage plus an additional storage closet. The home comes fully equipped with all appliances, including a washer and dryer. Bedroom has a large walk in closet. Located in a gated community, residents enjoy access to a community pool, clubhouse, and a peaceful picnic area just behind the building. The HOA fee includes cable, internet, exterior insurance, and maintenance, making for easy, low-maintenance living. The community allows up to two pets and has a six-month minimum rental requirement. Ideally situated close to new shopping, dining, and everyday conveniences.

12. 2024-11-29
    historical 406-char remark

    Show marketing remark (406 chars)

    Welcome to Lakes At Viera East! 1 Bedroom, 1 Bath, 2nd Floor Condo with a Private Garage and Storage Closet! Neatly kept unit, with newer AC, Hot Water Heater and Washer/Dryer. The gated complex, offers a Clubhouse and Swimming Pool, Gym and Picnic areas with Grills. Centrally located in Viera, this complex has easy access to I-95, Shopping and Restaurants. Just a short ride to the beach! Includes WIFI.

13. 2024-11-14
    historical $1,525
14. 2024-08-13
    listed $215,000 Active 406-char remark

    Show marketing remark (406 chars)

    Welcome to Lakes At Viera East! 1 Bedroom, 1 Bath, 2nd Floor Condo with a Private Garage and Storage Closet! Neatly kept unit, with newer AC, Hot Water Heater and Washer/Dryer. The gated complex, offers a Clubhouse and Swimming Pool, Gym and Picnic areas with Grills. Centrally located in Viera, this complex has easy access to I-95, Shopping and Restaurants. Just a short ride to the beach! Includes WIFI.

15. 2024-07-17
    listed $1,525
16. 2020-11-06
    soldstatus $117,000
17. 2019-09-10
    soldstatus $117,000
18. 2019-09-06
    soldstatus $117,000
19. 2019-07-23
    listed $118,300
20. 2019-06-27
    historical
21. 2019-02-03
    listed $118,300
22. 2016-09-03
    historical
23. 2016-08-16
    historical
24. 2016-07-20
    listed $115,000
25. 2011-07-20
    listed $59,900

ⓘ 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: $2,513 · $209/mo
• Projected year-2 tax: $2,513 · $209/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,637
• − Mortgage interest: −$9,467
• − Property taxes: −$2,513
• − Insurance: −$845
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − HOA: −$3,660
• − Depreciation: −$4,916
• Taxable loss: −$5,746
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $-1,551/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 — Viera East

• Score: 79/100
• State rank: #141
• US rank: #1964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Viera East, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-97.7% since first listed

25 events — show timeline

• 2026-05-21 Rental Removed $1,350 SCMLS
• 2026-05-05 Price Changed $1,350 SCMLS
• 2026-05-04 Price Changed $169,000 SCMLS
• 2026-04-17 Listed for Rent $1,450 SCMLS
• 2026-04-17 Listed $179,900 SCMLS
• 2026-03-31 Rental Removed $1,475 SCMLS
• 2026-03-30 Listing Removed — SCMLS
• 2026-03-20 Price Changed $1,475 SCMLS
• 2026-03-19 Price Changed $179,900 SCMLS
• 2026-01-28 Listed for Rent $1,495 SCMLS
• 2026-01-23 Listed $192,500 SCMLS
• 2024-11-29 Listing Removed — SCMLS
• 2024-11-14 Rental Removed $1,525 SCMLS
• 2024-08-13 Listed $215,000 SCMLS
• 2024-07-17 Listed for Rent $1,525 SCMLS
• 2020-11-06 Sold (Public Records) $117,000 Public Records
• 2019-09-10 Sold (Public Records) $117,000 Public Records
• 2019-09-06 Sold (MLS) $117,000 SCMLS
• 2019-07-23 Listed $118,300 SCMLS
• 2019-06-27 Listing Removed — SCMLS
• 2019-02-03 Listed $118,300 SCMLS
• 2016-09-03 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-07-20 Listed $115,000 SCMLS
• 2011-07-20 Listed $59,900 SCMLS

Property tax history

+4.5%/yr

Latest (2025): $2,513 · +3.6% YoY. Source: county tax records.