1315 Kayford St NW

Palm Bay, FL 32907

$265,000D

4 bd · 2.0 ba · 1,468 sqft · Built 1986 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,188/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$370
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $-31/mo
• Annual: $-369/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• 1% rule: 0.83%
• Cash to close: $74,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $-31 ($-369/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (17.4% below list).
• It's been on market 76 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $219k (17.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#366 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, health & safety D-.
• 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: Discovery Elementary School (math 45% / reading 49%, grade D-, #1,191 of 2,144 statewide, top 57%, 641 students, 69% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 739 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $45k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 35% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.