3115 Norfolk St · Mims, FL 32754

$190,000

3 bd · 2.0 ba · 1,572 sqft · Manufactured public records · 5 Days on market

Built 1988 8,276 sqft lot

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Why this score? — see what drove the B- 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Extra Large Home, 1500+ SqFt. Good Sized Florida Room, Front Porch, Back Porch, Shed, Almost New AC, Almost New Water Heater, Freshly Painted, Stainless Appliances, Large Primary Bedroom with Private Bath, Walk In Closets, Inside Laundry, W/ D included. Nicely Landscaped, Not much to Fence In Completely. NO HOA,

Key facts

• Florida room
• Spacious corner lot
• Two living areas

Tags

• DOUBLE WIDE MANUFACTURED HOME
• SPACIOUS CORNER LOT
• TWO LIVING AREAS
• WOOD BURNING FIREPLACE
• FLORIDA ROOM
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Attached garage; Additional parking; On-street parking
• Utilities: Septic tank; Electricity connected; Water connected
• Home design: Manufactured home; One level; North-facing
• Construction: Frame construction with vinyl siding; Shingle roof
• Exterior features: Deck; Corner lot; Asphalt road frontage; Shed(s)

Interior

• Kitchen: Convection oven; Electric cooktop; Electric oven; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air (electric)
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; His and hers closets; Primary bathroom with tub/shower; Split bedrooms; Vaulted ceilings; Wood-burning fireplace (1)
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/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 62/100 on livability (#765 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment 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: Pinewood Elementary School (math 64% / reading 63%, grade B, #564 of 2,144 statewide, top 27%, 521 students, 54% 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).
• Market conditions: 184 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $9,431
• Equity at exit: $28,330

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $59,837
• 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 32754

• Home prices YoY: -9.4%
• Active inventory: 184
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,271 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $632

Break-even live

Break-even rent $1,471

Max offer price $190,000

Occupancy floor 67%

Sensitivity live

Price	-10% $740	-5% $686	+0% $632	+5% $579	+10% $525
Rent	-10% $453	-5% $543	+0% $632	+5% $722	+10% $812
Rate	-1.0pp $728	-0.5pp $681	base $632	+0.5pp $583	+1.0pp $533

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3738 Loggerhead Ln Mims, FL	4.0	2.0	1918	$2,271	$1.18	14d	1	1.27mi

Listing history 19 events

1. 2026-06-01
   statusdays on market $190,000 Pending 5 DOM
2. 2026-05-31
   days on market $190,000 Active 4 DOM
3. 2026-05-31
   days on market $190,000 Active 3 DOM
4. 2026-05-27
   listed $190,000 Active
5. 2022-11-30
   soldstatus $160,000
6. 2022-11-09
   status Pending 313-char remark

   Show marketing remark (313 chars)

   Extra Large Home, 1500+ SqFt. Good Sized Florida Room, Front Porch, Back Porch, Shed, Almost New AC, Almost New Water Heater, Freshly Painted, Stainless Appliances, Large Primary Bedroom with Private Bath, Walk In Closets, Inside Laundry, W/ D included. Nicely Landscaped, Not much to Fence In Completely. NO HOA,

7. 2022-11-09
   soldstatus $160,000 Closed 313-char remark

   Show marketing remark (313 chars)

   Extra Large Home, 1500+ SqFt. Good Sized Florida Room, Front Porch, Back Porch, Shed, Almost New AC, Almost New Water Heater, Freshly Painted, Stainless Appliances, Large Primary Bedroom with Private Bath, Walk In Closets, Inside Laundry, W/ D included. Nicely Landscaped, Not much to Fence In Completely. NO HOA,

8. 2022-10-24
   historical Backups 313-char remark

   Show marketing remark (313 chars)

   Extra Large Home, 1500+ SqFt. Good Sized Florida Room, Front Porch, Back Porch, Shed, Almost New AC, Almost New Water Heater, Freshly Painted, Stainless Appliances, Large Primary Bedroom with Private Bath, Walk In Closets, Inside Laundry, W/ D included. Nicely Landscaped, Not much to Fence In Completely. NO HOA,

9. 2022-10-21
   listed $165,000 Active 313-char remark

   Show marketing remark (313 chars)

   Extra Large Home, 1500+ SqFt. Good Sized Florida Room, Front Porch, Back Porch, Shed, Almost New AC, Almost New Water Heater, Freshly Painted, Stainless Appliances, Large Primary Bedroom with Private Bath, Walk In Closets, Inside Laundry, W/ D included. Nicely Landscaped, Not much to Fence In Completely. NO HOA,

10. 2018-06-06
    soldstatus $43,000 300-char remark

    Show marketing remark (300 chars)

    Rare find . If you want to be in the country yet close to growing Titusville this is the one for you . .Situated on a corner lot , concrete patio with nice shed and fenced yard . Features 3/2 with enclosed back porch . .Great opportunity. .Case #094-511373 Disposition Code IE (Insurable with Escrow)

11. 2017-12-05
    listed $65,200 300-char remark

    Show marketing remark (300 chars)

    Rare find . If you want to be in the country yet close to growing Titusville this is the one for you . .Situated on a corner lot , concrete patio with nice shed and fenced yard . Features 3/2 with enclosed back porch . .Great opportunity. .Case #094-511373 Disposition Code IE (Insurable with Escrow)

12. 2017-10-05
    historical
13. 2017-01-18
    listed $46,332
14. 2005-05-03
    soldstatus $97,000
15. 2005-04-29
    soldstatus $97,000
16. 2005-03-17
    listed $95,000
17. 1987-09-01
    soldstatus $24,300
18. 1986-11-01
    soldstatus $23,800
19. 1986-02-01
    soldstatus $25,000

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$543/yr (+$45/mo · 52.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $27,252
• − Mortgage interest: −$10,643
• − Property taxes: −$1,034
• − Insurance: −$950
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − Depreciation: −$5,527
• Taxable income: $4,738
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $6,452/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 — Mims

• Score: 62/100
• State rank: #765
• US rank: #17094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mims, FL
• Population (ZIP): 11,250

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 (92%)
• Race & ethnicity: White 92% Black 5% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Iranian 3% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -34.55%
• Current HPI: 333.7709
• Rent YoY: —
• Metro: —
• 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

+660.0% since first listed

16 events — show timeline

• 2026-05-27 Listed $190,000 SCMLS
• 2022-11-30 Sold (Public Records) $160,000 Public Records
• 2022-11-09 Pending — SCMLS
• 2022-11-09 Sold (MLS) $160,000 SCMLS
• 2022-10-24 Contingent — SCMLS
• 2022-10-21 Listed $165,000 SCMLS
• 2018-06-06 Sold (MLS) $43,000 SCMLS
• 2017-12-05 Listed $65,200 SCMLS
• 2017-10-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-01-18 Listed $46,332 Stellar MLS as Distributed by MLS Grid
• 2005-05-03 Sold (Public Records) $97,000 Public Records
• 2005-04-29 Sold (MLS) $97,000 SCMLS
• 2005-03-17 Listed $95,000 SCMLS
• 1987-09-01 Sold (Public Records) $24,300 Public Records
• 1986-11-01 Sold (Public Records) $23,800 Public Records
• 1986-02-01 Sold (Public Records) $25,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,034 · +4.7% YoY. Source: county tax records.