700 Cleaves St SE · Palm Bay, FL 32909

$330,000

3 bd · 2.0 ba · 1,630 sqft · SingleFamily public records · 62 Days on market

Built 2023 0.28 ac 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.8/10.0

Listing remarks MLS

Built in 2023, this 3-bedroom, 2-bath concrete block home offers modern, move-in ready living on a corner lot with CITY WATER. Designed for low-maintenance living, it features a metal roof, tile flooring throughout (no carpet), crown molding, gutters, and a screened-in patio. Open-concept layout with great natural light creates a clean, modern feel. The kitchen includes granite countertops, stainless steel appliances, updated lighting, and sleek finishes. The spacious primary suite offers dual walk-in closets and an ensuite bath with double sinks, jetted tub, and separate shower. Conveniently located close to restaurants, shopping, and everyday essentials, this home checks all the boxes for comfort, style, and convenience. Low maintenance and built for real life.

Key facts

• Metal roof
• City water
• Tile flooring

Tags

• CORNER LOT
• CITY WATER
• METAL ROOF
• TILE FLOORING
• CROWN MOLDING
• SCREENED IN PATIO

Property features AI

Finance

• Other: Homestead exemption indicated; Zoning: RS2
• HOA & community: No association reported

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water (connected); Septic tank; Electricity available and connected
• Home design: Single-family residence; One story; Faces north
• Construction: Block and stucco construction; Metal roof; Block foundation; Built on a 0.28-acre lot (approximately 97 x 125)
• Exterior features: Screened patio/porch; Rain gutters; Corner lot; Fruit trees on property; Paved, public-maintained road access

Interior

• Kitchen: Dishwasher; Microwave; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Crown molding; Solid surface countertops; Walk-in closet(s); Window treatments (blinds and drapes)
• Laundry & utility: Washer hookup; Dryer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-558 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (29.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (35.0% below list).
• Recommended offer: $214k (35.0% below list) — sets the bar for 1% rule.

Location & tenants

• 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: W. Melbourne Elementary School For Science (math 88% / reading 86%, grade A+, #24 of 2,144 statewide, top 1%, 549 students, 18% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising (+3.7%/yr); 1123 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 32% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,386 (35.0% 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 62 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.65% ✗
• Cap rate: 4.26%
• Cash-on-cash: -7.25%
• DSCR: 0.68
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.58×
• Total profit: $145,628
• Equity at exit: $297,290

10-year hold

• IRR: 17.9%
• Equity multiple: 5.98×
• Total profit: $459,884
• Equity at exit: $641,117

Cash invested: $92,400 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1123
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,144 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$384 /mo · $4,609/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-558

Break-even live

Break-even rent $2,851

Max offer price $231,345

Occupancy floor —

Sensitivity live

Price	-10% $-372	-5% $-465	+0% $-558	+5% $-652	+10% $-745
Rent	-10% $-728	-5% $-643	+0% $-558	+5% $-474	+10% $-389
Rate	-1.0pp $-392	-0.5pp $-475	base $-558	+0.5pp $-644	+1.0pp $-731

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	25d	1	0.31mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	25d	1	0.36mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	20d	1	0.45mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	20d	1	0.48mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	25d	1	0.59mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	25d	1	0.68mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	16d	1	0.70mi
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	25d	1	0.72mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	15d	1	0.79mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	16d	1	0.79mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	25d	1	0.83mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	16d	1	0.86mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	25d	1	0.98mi
741 Frisco St SE Palm Bay, FL	3.0	2.0	1156	$1,950	$1.69	25d	1	0.99mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	25d	1	1.00mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	1.02mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	16d	1	1.05mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	16d	1	1.06mi
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	23d	1	1.08mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	16d	8	1.10mi
721 Taluga Ave SE Palm Bay, FL	3.0	2.0	1556	$1,800	$1.16	25d	1	1.16mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	20d	1	1.18mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	25d	1	1.18mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	25d	1	1.18mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	25d	1	1.25mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	16d	30	1.28mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	16d	1	1.29mi
1210 Vandalia Ave SE Palm Bay, FL	4.0	2.0	1833	$2,050	$1.12	16d	1	1.38mi
205 Valor Dr SE Palm Bay, FL	1.0–2.0	1.0–2.0	901	$1,937	$2.15	16d	17	1.40mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	15d	1	1.42mi
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	25d	1	1.46mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $330,000 Pending 62 DOM
2. 2026-06-05
   days on market $330,000 Active 59 DOM
3. 2026-06-03
   days on market $330,000 Active 58 DOM
4. 2026-06-02
   days on market $330,000 Active 57 DOM
5. 2026-06-01
   days on market $330,000 Active 56 DOM
6. 2026-05-31
   days on market $330,000 Active 55 DOM
7. 2026-05-31
   days on market $330,000 Active 54 DOM
8. 2026-04-06
   listed $330,000 Active 776-char remark

   Show marketing remark (776 chars)

   Built in 2023, this 3-bedroom, 2-bath concrete block home offers modern, move-in ready living on a corner lot with CITY WATER. Designed for low-maintenance living, it features a metal roof, tile flooring throughout (no carpet), crown molding, gutters, and a screened-in patio. Open-concept layout with great natural light creates a clean, modern feel. The kitchen includes granite countertops, stainless steel appliances, updated lighting, and sleek finishes. The spacious primary suite offers dual walk-in closets and an ensuite bath with double sinks, jetted tub, and separate shower. Conveniently located close to restaurants, shopping, and everyday essentials, this home checks all the boxes for comfort, style, and convenience. Low maintenance and built for real life.

9. 2026-04-06
   listed $330,000 Active

   Show marketing remark (776 chars)

   Built in 2023, this 3-bedroom, 2-bath concrete block home offers modern, move-in ready living on a corner lot with CITY WATER. Designed for low-maintenance living, it features a metal roof, tile flooring throughout (no carpet), crown molding, gutters, and a screened-in patio. Open-concept layout with great natural light creates a clean, modern feel. The kitchen includes granite countertops, stainless steel appliances, updated lighting, and sleek finishes. The spacious primary suite offers dual walk-in closets and an ensuite bath with double sinks, jetted tub, and separate shower. Conveniently located close to restaurants, shopping, and everyday essentials, this home checks all the boxes for comfort, style, and convenience. Low maintenance and built for real life.

ⓘ 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: $4,609 · $384/mo
• Projected year-2 tax: $4,609 · $384/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 9/10 Extreme 5 d/yr ≥106°F today · 13 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: $25,726
• − Mortgage interest: −$18,485
• − Property taxes: −$4,609
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$9,600
• Taxable loss: −$12,734
• Est. tax savings @ 24.0%: +$3,056
• After-tax cash flow: $-3,645/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 — Palm Bay

• Score: 72/100
• State rank: #366
• US rank: #6458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Bay, FL
• County: Brevard County · 602,871 people
• City population: 132,211
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-06 Listed $330,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Listed $330,000 SCMLS

Property tax history

+41.3%/yr

Latest (2025): $4,609 · -7.6% YoY. Source: county tax records.