480 Sabal Ave · Merritt Island, FL 32953

$349,900

3 bd · 3.0 ba · 1,470 sqft · SingleFamily public records · 62 Days on market

Built 1966 7,405 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 +14.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.4/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Home w/ Numerous Upgrades!! Newer Architectural Shingle Roof with Secondary Water Barrier, Hurricane High Impact Panels for all Doors and Windows and a 140 mph Hurricane Rated Garage Door (panels & door passed Miami Dade County Florida hurricane codes) HUGE SAVINGS on Homeowners Insurance, Updated Windows, New Pool Pump, New Well Pump, Spacious Updated Kitchen Stainless Steel Stove, Microwave, and Dishwasher, Kitchen Cabinets with Pullout Drawers for Pots and Pans, Wood and Tile '||chr(10)||'Addendum - floors, Updated Bathrooms, Smoke Free, Smoke Detectors, Wired for Surround Sound, Security Lighting, New Landscaping with Pond, Ready to move in for new owners A MUST SEE!! Sold As-Is for sellers convenience.

Key facts

• Screened in porch
• New kitchen
• Outdoor pavers

Tags

• NEW ROOF
• NEW KITCHEN
• FULLY LINED SEWER PIPING
• SCREENED IN PORCH
• OUTDOOR PAVERS
• COMMUNITY WATERFRONT PARK

Property features AI

Finance

• Other: Unfurnished
• Financial info: Property allows cats and dogs

Exterior

• Parking: Attached 1-car garage; Garage with door opener; Additional parking available
• Security: Smoke detectors
• Utilities: 150 amp electric service; Public sewer; Cable available; Electricity connected; Natural gas available and connected; Sewer connected; Water connected
• Home design: Single family residence; Two levels; Entry level: 1; Home faces south
• Construction: Block and concrete construction; Shingle roof
• Exterior features: Fire pit; Storm shutters; Patio; Porch (screened); Full chain-link fencing; Cleared lot; County road frontage; Asphalt/paved road surface

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Ice maker
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (heat pump, natural gas); Central air (electric)
• Interior features: Ceiling fans; Entrance foyer; Pantry; Primary bathroom with shower (no tub); Walk-in closets
• Laundry & utility: Washer and dryer included; Washer hookup; Electric dryer hookup; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $10 ($115/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 $268k (23.4% below list).
• Recommended offer: $268k (23.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Mila Elementary School (math 37% / reading 46%, grade F, #1,437 of 2,144 statewide, top 68%, 433 students, 70% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL).
• Market conditions: Rents rising (+2.1%/yr); 219 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 37% of the median local income ($87k/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 $2k of loan paydown is wiped out by about $10k 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 62 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $29k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; list at $350k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $268,172 (23.4% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.77% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-58,592
• Equity at exit: $52,171

10-year hold

• IRR: -10.5%
• Equity multiple: 0.38×
• Total profit: $-60,331
• Equity at exit: $30,253

Cash invested: $97,972 (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 32953

• Home prices YoY: -34.5%
• Rents YoY: 2.1%
• Active inventory: 219
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $10

Break-even live

Break-even rent $2,670

Max offer price $349,900

Occupancy floor 95%

Sensitivity live

Price	-10% $208	-5% $109	+0% $10	+5% $-89	+10% $-608
Rent	-10% $-202	-5% $-96	+0% $10	+5% $116	+10% $221
Rate	-1.0pp $186	-0.5pp $99	base $10	+0.5pp $-81	+1.0pp $-173

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
390 Needle Blvd Merritt Island, FL	4.0	2.0	1828	$3,450	$1.89	24d	1	0.11mi
820 Del Rio Way #401 Merritt Island, FL	3.0	2.0	1862	$2,600	$1.40	24d	1	0.23mi
215 Richland Ave Unit 1044313P Merritt Island, FL	3.0	2.0	1184	$4,648	$3.93	15d	1	0.40mi
145 Needle Blvd Merritt Island, FL	4.0	2.0	1314	$3,250	$2.47	24d	1	0.42mi
205 Palmetto Ave Merritt Island, FL	2.0	2.0	1033	$1,625	$1.57	24d	2	0.54mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,525	$1.69	24d	2	0.56mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,545	$1.72	15d	2	0.56mi
50 Needle Blvd #28 Merritt Island, FL	2.0	1.5	900	$1,550	$1.72	24d	1	0.56mi
800 1st St Merritt Island, FL	3.0	2.0	1529	$2,800	$1.83	24d	1	0.58mi
165 Tiki Dr Merritt Island, FL	3.0	2.0	1795	$2,875	$1.60	24d	1	0.66mi
140 McLeod St Unit 1513829P Merritt Island, FL	3.0	2.0	1323	$3,291	$2.49	20d	1	0.84mi
200 S Sykes Creek Pkwy #702 Merritt Island, FL	2.0	2.0	1307	$2,390	$1.83	24d	1	0.89mi
250 S Sykes Creek Pkwy Unit B510 Merritt Island, FL	2.0	2.0	1660	$2,600	$1.57	24d	1	0.98mi
1155 N Courtenay Pkwy Merritt Island, FL	2.0	1.0	750	$1,434	$1.91	24d	1	1.18mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	24d	4	1.28mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	15d	4	1.28mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	15d	1	1.28mi
480 Nancie Ave Merritt Island, FL	3.0	2.0	888	$2,100	$2.36	24d	1	1.30mi
410 S Tropical Trl Merritt Island, FL	3.0	2.0	1573	$2,295	$1.46	24d	1	1.32mi
1315 Lester Ct Merritt Island, FL	3.0	2.0	1462	$2,350	$1.61	24d	1	1.33mi
489 Seacrest Ave Unit 1325661P Merritt Island, FL	3.0	2.0	1173	$4,320	$3.68	15d	1	1.38mi
735 Pilot Ln #503 Merritt Island, FL	2.0	2.0	1334	$2,700	$2.02	24d	1	1.39mi
701 Pilot Ln Unit 1499904P Merritt Island, FL	2.0	2.0	1323	$3,978	$3.01	22d	1	1.40mi
735 Pilot Ln #507 Merritt Island, FL	2.0	2.0	1711	$2,800	$1.64	15d	1	1.41mi
735 Pilot Ln #414 Merritt Island, FL	3.0	3.5	1715	$3,300	$1.92	24d	1	1.42mi
735 Pilot Ln #1009 Merritt Island, FL	2.0	2.0	1334	$2,850	$2.14	24d	1	1.42mi

Listing history 19 events

1. 2026-06-18
   days on market $349,900 Active 62 DOM
2. 2026-06-17
   days on market $349,900 Active 61 DOM
3. 2026-06-16
   days on market $349,900 Active 60 DOM
4. 2026-06-15
   days on market $349,900 Active 59 DOM
5. 2026-06-14
   days on market $349,900 Active 57 DOM
6. 2026-06-10
   days on market $349,900 Active 54 DOM
7. 2026-06-08
   days on market $349,900 Active 52 DOM
8. 2026-06-07
   days on market $349,900 Active 51 DOM
9. 2026-06-05
   days on market $349,900 Active 48 DOM
10. 2026-06-03
    days on market $349,900 Active 47 DOM
11. 2026-06-02
    days on market $349,900 Active 46 DOM
12. 2026-06-01
    days on market $349,900 Active 45 DOM
13. 2026-05-31
    days on market $349,900 Active 44 DOM
14. 2026-05-31
    days on market $349,900 Active 43 DOM
15. 2026-05-14
    price $349,900
16. 2026-04-30
    price $359,000
17. 2026-04-17
    listed $379,000 Active
18. 2013-03-14
    soldstatus $114,500 736-char remark

    Show marketing remark (736 chars)

    Beautiful Home w/ Numerous Upgrades!! Newer Architectural Shingle Roof with Secondary Water Barrier, Hurricane High Impact Panels for all Doors and Windows and a 140 mph Hurricane Rated Garage Door (panels & door passed Miami Dade County Florida hurricane codes) HUGE SAVINGS on Homeowners Insurance, Updated Windows, New Pool Pump, New Well Pump, Spacious Updated Kitchen Stainless Steel Stove, Microwave, and Dishwasher, Kitchen Cabinets with Pullout Drawers for Pots and Pans, Wood and Tile '||chr(10)||'Addendum - floors, Updated Bathrooms, Smoke Free, Smoke Detectors, Wired for Surround Sound, Security Lighting, New Landscaping with Pond, Ready to move in for new owners A MUST SEE!! Sold As-Is for sellers convenience.

19. 2013-02-09
    listed $123,400 736-char remark

    Show marketing remark (736 chars)

    Beautiful Home w/ Numerous Upgrades!! Newer Architectural Shingle Roof with Secondary Water Barrier, Hurricane High Impact Panels for all Doors and Windows and a 140 mph Hurricane Rated Garage Door (panels & door passed Miami Dade County Florida hurricane codes) HUGE SAVINGS on Homeowners Insurance, Updated Windows, New Pool Pump, New Well Pump, Spacious Updated Kitchen Stainless Steel Stove, Microwave, and Dishwasher, Kitchen Cabinets with Pullout Drawers for Pots and Pans, Wood and Tile '||chr(10)||'Addendum - floors, Updated Bathrooms, Smoke Free, Smoke Detectors, Wired for Surround Sound, Security Lighting, New Landscaping with Pond, Ready to move in for new owners A MUST SEE!! Sold As-Is for sellers convenience.

ⓘ 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: $742 · $62/mo
• Projected year-2 tax: $2,904 · $242/mo
• Expected delta: +$2,162/yr (+$180/mo · 291.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $32,181
• − Mortgage interest: −$19,600
• − Property taxes: −$742
• − Insurance: −$2,547
• − Repairs & maintenance: −$2,574
• − Management: −$2,574
• − Depreciation: −$10,179
• Taxable loss: −$6,036
• Est. tax savings @ 24.0%: +$1,449
• After-tax cash flow: $1,564/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,759
• Household income: $87,262
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 849.0

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 13% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 2% French/Haitian/Cajun 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: ▼ -168.76%
• Current HPI: 320.1966
• Rent YoY: ▲ 2.12%
• 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

+183.5% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $349,900 SCMLS
• 2026-04-30 Price Changed $359,000 SCMLS
• 2026-04-17 Listed $379,000 SCMLS
• 2013-03-14 Sold (MLS) $114,500 SCMLS
• 2013-02-09 Listed $123,400 SCMLS

Property tax history

-4.2%/yr

Latest (2025): $742 · +17.8% YoY. Source: county tax records.