3538 Dairy Rd · Titusville, FL 32796

$190,000

3 bd · 3.0 ba · 1,618 sqft · Condo public records · 1 Days on market

Built 1975 $422/mo HOA · 19% of rent

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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 +19.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +6.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. This beautifully maintained 3-bedroom, 3-bathroom townhouse offers the perfect blend of comfort, privacy, and contemporary convenience. Spanning 1,618 square feet of living space, this Spanish/Mediterranean-style condominium is located in the desirable Oak Park Villas Brevard subdivision. The home features a bright and welcoming open-concept layout on the main level, seamlessly connecting the living and dining areas, ideal for relaxing or entertaining. The functional kitchen is highlighted by a convenient breakfast bar and tile flooring, which is also found in the hallway and bathrooms. Thoughtful design includes one spacious bedroom convenien

Key facts

• Travertine tile
• Private balcony
• Breakfast bar

Tags

• OPEN-CONCEPT LAYOUT
• BREAKFAST BAR
• TRAVERTINE TILE
• PRIVATE EN-SUITE BATHROOM
• BUILT-IN CLOSET SPACE
• PRIVATE BALCONY

Property features AI

Finance

• Other: Unfurnished unit
• HOA & community: Association: Oak Park Villas of Brevard; Monthly association fee; Association amenities: Grounds maintenance, trash; Association fee includes insurance, grounds maintenance, trash

Exterior

• Parking: 1-car garage; Guest parking
• Security: Smoke detector(s)
• Utilities: 220 volt electric; Public sewer; Water available and connected; Electricity connected; Cable available; Natural gas not available
• Home design: Condominium; 2-story building; Entry level: 1; Faces north; Residential use
• Construction: Block, concrete, stucco construction; Membrane, shingle, and tile roof
• Exterior features: Balcony; Porch (screened); Fencing (other)

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (one on the second level; others on the first and second levels as noted)
• Flooring: Tile; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Breakfast bar; Ceiling fan(s); Open floorplan; Primary bathroom with tub and shower; Pantry; Built-in closets; 9 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).

Location & tenants

• Location reads 84/100 on livability (#42 in FL, #668 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment 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: Oak Park Elementary School (math 36% / reading 37%, grade F, #1,656 of 2,144 statewide, top 78%, 501 students, 74% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 63% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 55% district-wide (-18 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; 259 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 39% of the median local income ($67k/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 $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $72k; list at $190k implies a 162% gain — meaningful room to come down on a strong offer.

Recommended offer $190,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.15% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-23,110
• Equity at exit: $28,330

10-year hold

• IRR: -8.0%
• Equity multiple: 0.56×
• Total profit: $-23,388
• Equity at exit: $16,428

Cash invested: $53,200 (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 32796

• Rents YoY: 0.6%
• Active inventory: 259
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,193 high
• Mortgage (P&I): −$996
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$79
• HOA: −$422
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $199

Break-even live

Break-even rent $1,941

Max offer price $190,000

Occupancy floor 86%

Sensitivity live

Price	-10% $307	-5% $253	+0% $199	+5% $146	+10% $92
Rent	-10% $26	-5% $113	+0% $199	+5% $286	+10% $373
Rate	-1.0pp $295	-0.5pp $248	base $199	+0.5pp $150	+1.0pp $100

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Lafayette Ave Titusville, FL	3.0	2.0	1457	$2,260	$1.55	16d	1	0.17mi
1580 Liberty Tree Rd Titusville, FL	3.0	2.0	1458	$2,145	$1.47	16d	1	0.32mi
3007 Telka Lynn Dr Titusville, FL	3.0	2.0	1560	$2,400	$1.54	25d	1	1.04mi
1340 Sharon Dr Titusville, FL	3.0	2.0	1872	$2,516	$1.34	16d	1	1.08mi
609 Ward Ave Titusville, FL	3.0	2.0	1200	$1,950	$1.62	25d	1	1.12mi
3315 Casi Dr Titusville, FL	3.0	2.0	2132	$2,700	$1.27	25d	1	1.12mi
965 N Singleton Ave Titusville, FL	3.0	2.0	1493	$2,250	$1.51	21d	1	1.21mi
945 Luna Ter Titusville, FL	4.0	2.0	1863	$2,600	$1.40	25d	1	1.27mi
2745 Starlight Dr Titusville, FL	3.0	2.0	1232	$1,800	$1.46	25d	1	1.34mi
1105 Morse Ave Titusville, FL	3.0	2.0	1218	$1,995	$1.64	25d	1	1.40mi
583 Gardenia Cir Titusville, FL	3.0	2.0	1120	$1,800	$1.61	25d	1	1.43mi
292 W Towne Pl Titusville, FL	2.0	2.5	1242	$1,450	$1.17	16d	1	1.46mi
265 W Towne Pl Titusville, FL	2.0	1.0	1128	$1,650	$1.46	25d	1	1.49mi

HOA detail condo

• Monthly dues: $422 · $5,064/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-05
   remarks 699-char remark
2. 2026-06-05
   listed $190,000 Active 1 DOM

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$1,148/yr (+$96/mo · 267.7%)

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

Taxation est. · year 1

• Rental income: $26,320
• − Mortgage interest: −$10,643
• − Property taxes: −$429
• − Insurance: −$950
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − HOA: −$5,064
• − Depreciation: −$5,527
• Taxable loss: −$504
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $2,515/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 — Titusville

• Score: 84/100
• State rank: #42
• US rank: #668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Titusville, FL
• County: Brevard County · 602,871 people
• City population: 60,286
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

+59.7% since first listed

6 events — show timeline

• 2026-06-04 Listed $190,000 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2014-10-18 Listed $65,000 SCMLS
• 2012-12-07 Sold (Public Records) $72,500 Public Records
• 2012-01-26 Sold (Public Records) $250,000 Public Records
• 2005-04-02 Sold (Public Records) $119,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $429 · +6.5% YoY. Source: county tax records.