25 Elton St #25 · Melbourne, FL 32935

$135,000

2 bd · 1.0 ba · 740 sqft · Condo public records · 122 Days on market

Built 1964 $150/mo HOA · 11% 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).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.7/10.0
• DSCR +3.9/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

Key facts

• Newer appliances
• Renovated kitchen
• Washer dryer line

Tags

• RENOVATED KITCHEN
• NEWER APPLIANCES
• UPDATED FLOORING
• MODERN TILE ACCENTS
• NEWER AC SYSTEM
• WASHER DRYER LINE

Property features AI

Finance

• Other: Unfurnished; No private pool
• HOA & community: Condo association: Elton Manor Condo; Association fee $150 per month; Pets allowed

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Water connected
• Home design: Townhouse; Single-family residential use; Entry level: 1
• Construction: Block, concrete and stucco construction
• Exterior features: Small lot (approx. 0.04 acres); Lot described as Other; North-facing

Interior

• Kitchen: Electric oven; Microwave; Refrigerator; Freezer; Gas water heater
• Bedrooms: 2 bedrooms (entry level)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-10 ($-125/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (1.2% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Harbor City Elementary School (math 57% / reading 47%, grade C-, #990 of 2,144 statewide, top 48%, 403 students, 70% FRL); Herbert C. Hoover Middle School (math 67% / reading 64%, grade A-, #95 of 571 statewide, top 17%, 506 students, 38% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents flat; 332 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 of loan paydown is wiped out by about $4k 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 122 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% 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 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.99% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-25,675
• Equity at exit: $20,129

10-year hold

• IRR: -20.4%
• Equity multiple: 0.06×
• Total profit: $-35,438
• Equity at exit: $11,672

Cash invested: $37,800 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$708
• Tax from tax record: −$150 /mo · $1,797/yr
• Insurance: −$56
• HOA: −$150
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-10

Break-even live

Break-even rent $1,347

Max offer price $133,154

Occupancy floor 96%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Elton St Unit 20C Melbourne, FL	2.0	1.0	744	$1,100	$1.48	23d	1	0.02mi
1023 Gull Ln Melbourne, FL	1.0–3.0	1.0–2.0	1072	$1,924	$1.79	14d	31	1.23mi
614 Shady Ln Melbourne, FL	1.0	1.0	600	$1,850	$3.08	23d	1	1.24mi
1420 Avocado Ave #16 Melbourne, FL	2.0	1.0	750	$1,500	$2.00	23d	1	1.41mi
1420 Avocado Ave Unit 15 Melbourne, FL	1.0	1.0	750	$1,400	$1.87	23d	1	1.41mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $135,000 Active 122 DOM
2. 2026-06-17
   days on market $135,000 Active 121 DOM
3. 2026-06-16
   days on market $135,000 Active 120 DOM
4. 2026-06-15
   days on market $135,000 Active 119 DOM
5. 2026-06-14
   days on market $135,000 Active 117 DOM
6. 2026-06-10
   days on market $135,000 Active 114 DOM
7. 2026-06-08
   days on market $135,000 Active 112 DOM
8. 2026-06-07
   days on market $135,000 Active 111 DOM
9. 2026-06-05
   days on market $135,000 Active 108 DOM
10. 2026-06-03
    days on market $135,000 Active 107 DOM
11. 2026-06-02
    days on market $135,000 Active 106 DOM
12. 2026-06-01
    days on market $135,000 Active 105 DOM
13. 2026-05-31
    days on market $135,000 Active 104 DOM
14. 2026-05-31
    days on market $135,000 Active 103 DOM
15. 2026-04-25
    price $135,000
16. 2026-02-13
    listed $140,000 Active
17. 2023-03-27
    soldstatus $135,000 Closed 324-char remark

    Show marketing remark (324 chars)

    Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

18. 2023-03-04
    historical Backups 324-char remark

    Show marketing remark (324 chars)

    Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

19. 2023-02-22
    price $129,000 324-char remark

    Show marketing remark (324 chars)

    Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

20. 2023-02-20
    listed $129,900 Active 324-char remark

    Show marketing remark (324 chars)

    Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

21. 2023-02-19
    historical $129,900 324-char remark

    Show marketing remark (324 chars)

    Brand new completely renovated condo including new AC, and washer and dryer line. Brand new Kitchen, appliances, and upstairs. Gorgeous wood look flooring upstairs with modern tile and nice finishes. Close to big companies like Leonard DRS and Downtown Melbourne. HOA covers maintenance of the exterior and roof replacement.

22. 2016-08-16
    historical 383-char remark

    Show marketing remark (383 chars)

    What a great investment opportunity. Nice 2 bedroom 1 bath condo centrally located in Melbourne, close to shopping and just a few minutes from the beaches. This unit has tile throughout the downstairs and carpet upstairs. It is tenant occupied. great solid tenant who keeps the residence immaculate. This is well worth a look as there is excellent potential for additional cash flow.

23. 2016-08-16
    historical

    Show marketing remark (383 chars)

    What a great investment opportunity. Nice 2 bedroom 1 bath condo centrally located in Melbourne, close to shopping and just a few minutes from the beaches. This unit has tile throughout the downstairs and carpet upstairs. It is tenant occupied. great solid tenant who keeps the residence immaculate. This is well worth a look as there is excellent potential for additional cash flow.

24. 2016-08-16
    historical

    Show marketing remark (383 chars)

    What a great investment opportunity. Nice 2 bedroom 1 bath condo centrally located in Melbourne, close to shopping and just a few minutes from the beaches. This unit has tile throughout the downstairs and carpet upstairs. It is tenant occupied. great solid tenant who keeps the residence immaculate. This is well worth a look as there is excellent potential for additional cash flow.

25. 2016-08-16
    historical

    Show marketing remark (383 chars)

    What a great investment opportunity. Nice 2 bedroom 1 bath condo centrally located in Melbourne, close to shopping and just a few minutes from the beaches. This unit has tile throughout the downstairs and carpet upstairs. It is tenant occupied. great solid tenant who keeps the residence immaculate. This is well worth a look as there is excellent potential for additional cash flow.

26. 2012-04-06
    soldstatus $20,000
27. 2011-12-11
    listed $19,900
28. 2010-07-14
    soldstatus $16,000
29. 2010-05-18
    listed $15,900
30. 2010-02-16
    listed $18,000
31. 2009-07-29
    listed $21,000
32. 2009-03-16
    listed $25,000 383-char remark

    Show marketing remark (383 chars)

    What a great investment opportunity. Nice 2 bedroom 1 bath condo centrally located in Melbourne, close to shopping and just a few minutes from the beaches. This unit has tile throughout the downstairs and carpet upstairs. It is tenant occupied. great solid tenant who keeps the residence immaculate. This is well worth a look as there is excellent potential for additional cash flow.

33. 2005-04-26
    soldstatus $68,000
34. 2004-01-29
    soldstatus $2,575,000

ⓘ 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: $1,797 · $150/mo
• Projected year-2 tax: $1,797 · $150/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $16,002
• − Mortgage interest: −$7,562
• − Property taxes: −$1,797
• − Insurance: −$675
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − HOA: −$1,800
• − Depreciation: −$3,927
• Taxable loss: −$2,319
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $431/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

-94.8% since first listed

20 events — show timeline

• 2026-04-25 Price Changed $135,000 SCMLS
• 2026-02-13 Listed $140,000 SCMLS
• 2023-03-27 Sold (MLS) $135,000 SCMLS
• 2023-03-04 Contingent — SCMLS
• 2023-02-22 Price Changed $129,000 SCMLS
• 2023-02-20 Listed $129,900 SCMLS
• 2023-02-19 Coming Soon $129,900 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2012-04-06 Sold (Public Records) $20,000 Public Records
• 2011-12-11 Listed $19,900 SCMLS
• 2010-07-14 Sold (MLS) $16,000 SCMLS
• 2010-05-18 Listed $15,900 SCMLS
• 2010-02-16 Listed $18,000 SCMLS
• 2009-07-29 Listed $21,000 SCMLS
• 2009-03-16 Listed $25,000 SCMLS
• 2005-04-26 Sold (Public Records) $68,000 Public Records
• 2004-01-29 Sold (Public Records) $2,575,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $1,797 · +12.5% YoY. Source: county tax records.