3283 Slama Ave SE · Palm Bay, FL 32909

$280,000

3 bd · 2.0 ba · 1,258 sqft · Land · 105 Days on market

Built 2025 10,018 sqft lot ↓ 2% since listing

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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 +14.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.5/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Modern Elegance in Palm Bay. To be completed 7/31- Brand New 3 Bed, 2 Bath Home HURRICANE PROOF! Welcome to the most modern new construction home Palm Bay has to offer! This stunning 3-bedroom, 2-bathroom residence is 1,258 square feet under air, perfectly blending sleek contemporary design with comfortable, functional living. This home features an amazing open floor plan, 10 foot ceilings and impact windows that flood the home with natural light. The heart of the home is the kitchen featuring granite countertops, stainless steel appliances, and custom finishes designed for both style and durability. The bedroom is spacious with tall ceilings and with large closets providing much needed storage, and the split layout offers privacy and flexibility for families or guests. This home offers the peace and space you crave. Hurry!

Key facts

• New build
• Bright open layout
• 10 foot ceilings

Tags

• NEW BUILD
• IMPACT WINDOWS
• 10 FOOT CEILINGS
• BRIGHT OPEN LAYOUT
• WHITE SHAKER CABINETRY
• GRANITE COUNTERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $280k.

Deal economics

• At list price, monthly cash flow is $73 ($878/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 $216k (22.8% below list).
• Recommended offer: $216k (22.8% 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: Sunrise Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 759 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 1111 active listings in the ZIP; 20 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 $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $35k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $216,042 (22.8% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 10.8

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: 25.3%
• Equity multiple: 3.02×
• Total profit: $158,468
• Equity at exit: $252,246

10-year hold

• IRR: 22.4%
• Equity multiple: 6.94×
• Total profit: $465,753
• Equity at exit: $543,978

Cash invested: $78,400 (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: 1111
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,160 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$49 /mo · $583/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $73

Break-even live

Break-even rent $2,068

Max offer price $280,000

Occupancy floor 92%

Sensitivity live

Price	-10% $232	-5% $152	+0% $73	+5% $-325	+10% $-422
Rent	-10% $-98	-5% $-12	+0% $73	+5% $158	+10% $244
Rate	-1.0pp $214	-0.5pp $144	base $73	+0.5pp $1	+1.0pp $-73

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3219 Hainsworth Ave SE Palm Bay, FL	3.0	2.0	1219	$2,100	$1.72	15d	1	0.31mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	0.32mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	24d	1	0.56mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	14d	1	0.62mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	14d	1	0.77mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	15d	1	0.88mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	15d	1	0.88mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.94mi
1063 Grantham Ln SE Palm Bay, FL	3.0	2.0	1515	$2,000	$1.32	24d	1	0.98mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	24d	1	1.00mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	22d	1	1.02mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	14d	1	1.18mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	1.18mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	20d	1	1.18mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	24d	1	1.23mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	22d	1	1.23mi
1434 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1600	$2,000	$1.25	14d	1	1.36mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	22d	1	1.39mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	15d	1	1.43mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	15d	1	1.45mi

Listing history 15 events

1. 2026-04-14
   status Pending
2. 2026-04-10
   status Active
3. 2026-04-02
   status Pending
4. 2026-02-13
   status Active
5. 2025-12-18
   status Pending
6. 2025-11-11
   price $280,000
7. 2025-10-26
   listed $315,000 Active
8. 2025-10-11
   status Pending 843-char remark

   Show marketing remark (843 chars)

   Modern Elegance in Palm Bay. To be completed 7/31- Brand New 3 Bed, 2 Bath Home HURRICANE PROOF! Welcome to the most modern new construction home Palm Bay has to offer! This stunning 3-bedroom, 2-bathroom residence is 1,258 square feet under air, perfectly blending sleek contemporary design with comfortable, functional living. This home features an amazing open floor plan, 10 foot ceilings and impact windows that flood the home with natural light. The heart of the home is the kitchen featuring granite countertops, stainless steel appliances, and custom finishes designed for both style and durability. The bedroom is spacious with tall ceilings and with large closets providing much needed storage, and the split layout offers privacy and flexibility for families or guests. This home offers the peace and space you crave. Hurry!

9. 2025-10-08
   historical 843-char remark

   Show marketing remark (843 chars)

   Modern Elegance in Palm Bay. To be completed 7/31- Brand New 3 Bed, 2 Bath Home HURRICANE PROOF! Welcome to the most modern new construction home Palm Bay has to offer! This stunning 3-bedroom, 2-bathroom residence is 1,258 square feet under air, perfectly blending sleek contemporary design with comfortable, functional living. This home features an amazing open floor plan, 10 foot ceilings and impact windows that flood the home with natural light. The heart of the home is the kitchen featuring granite countertops, stainless steel appliances, and custom finishes designed for both style and durability. The bedroom is spacious with tall ceilings and with large closets providing much needed storage, and the split layout offers privacy and flexibility for families or guests. This home offers the peace and space you crave. Hurry!

10. 2025-10-08
    historical 843-char remark

    Show marketing remark (843 chars)

    Modern Elegance in Palm Bay. To be completed 7/31- Brand New 3 Bed, 2 Bath Home HURRICANE PROOF! Welcome to the most modern new construction home Palm Bay has to offer! This stunning 3-bedroom, 2-bathroom residence is 1,258 square feet under air, perfectly blending sleek contemporary design with comfortable, functional living. This home features an amazing open floor plan, 10 foot ceilings and impact windows that flood the home with natural light. The heart of the home is the kitchen featuring granite countertops, stainless steel appliances, and custom finishes designed for both style and durability. The bedroom is spacious with tall ceilings and with large closets providing much needed storage, and the split layout offers privacy and flexibility for families or guests. This home offers the peace and space you crave. Hurry!

11. 2025-07-11
    listed $299,900 Active 843-char remark

    Show marketing remark (843 chars)

    Modern Elegance in Palm Bay. To be completed 7/31- Brand New 3 Bed, 2 Bath Home HURRICANE PROOF! Welcome to the most modern new construction home Palm Bay has to offer! This stunning 3-bedroom, 2-bathroom residence is 1,258 square feet under air, perfectly blending sleek contemporary design with comfortable, functional living. This home features an amazing open floor plan, 10 foot ceilings and impact windows that flood the home with natural light. The heart of the home is the kitchen featuring granite countertops, stainless steel appliances, and custom finishes designed for both style and durability. The bedroom is spacious with tall ceilings and with large closets providing much needed storage, and the split layout offers privacy and flexibility for families or guests. This home offers the peace and space you crave. Hurry!

12. 2023-12-18
    status Pending 426-char remark

    Show marketing remark (426 chars)

    Affordable Housing in Brevard! Come feast your eyes on Cutting Edge Construction- Innovative Design- 3 Bedrooms, 2 bath and 1 Car Garage. IMPACT RESISTANT HURRICANE RATED WINDOWS & DOORS throughout TANK-LESS water heater, GRANITE Countertops, Vinyl Plank Flooring, Whirlpool Microwave, DISHWASHER, SELF OVEN, FULL SODDED LAWN & LANDSCAPING. Choose your color options for cabinets and exterior and interior paint.

13. 2023-05-10
    status Pending 426-char remark

    Show marketing remark (426 chars)

    Affordable Housing in Brevard! Come feast your eyes on Cutting Edge Construction- Innovative Design- 3 Bedrooms, 2 bath and 1 Car Garage. IMPACT RESISTANT HURRICANE RATED WINDOWS & DOORS throughout TANK-LESS water heater, GRANITE Countertops, Vinyl Plank Flooring, Whirlpool Microwave, DISHWASHER, SELF OVEN, FULL SODDED LAWN & LANDSCAPING. Choose your color options for cabinets and exterior and interior paint.

14. 2023-05-10
    historical 426-char remark

    Show marketing remark (426 chars)

    Affordable Housing in Brevard! Come feast your eyes on Cutting Edge Construction- Innovative Design- 3 Bedrooms, 2 bath and 1 Car Garage. IMPACT RESISTANT HURRICANE RATED WINDOWS & DOORS throughout TANK-LESS water heater, GRANITE Countertops, Vinyl Plank Flooring, Whirlpool Microwave, DISHWASHER, SELF OVEN, FULL SODDED LAWN & LANDSCAPING. Choose your color options for cabinets and exterior and interior paint.

15. 2023-04-25
    listed $285,000 Active 426-char remark

    Show marketing remark (426 chars)

    Affordable Housing in Brevard! Come feast your eyes on Cutting Edge Construction- Innovative Design- 3 Bedrooms, 2 bath and 1 Car Garage. IMPACT RESISTANT HURRICANE RATED WINDOWS & DOORS throughout TANK-LESS water heater, GRANITE Countertops, Vinyl Plank Flooring, Whirlpool Microwave, DISHWASHER, SELF OVEN, FULL SODDED LAWN & LANDSCAPING. Choose your color options for cabinets and exterior and interior paint.

ⓘ 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: $583 · $49/mo
• Projected year-2 tax: $2,324 · $194/mo
• Expected delta: +$1,741/yr (+$145/mo · 298.8%)

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

Taxation est. · year 1

• Rental income: $25,925
• − Mortgage interest: −$15,684
• − Property taxes: −$583
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − Depreciation: −$8,145
• Taxable loss: −$4,036
• Est. tax savings @ 24.0%: +$969
• After-tax cash flow: $1,846/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

-1.8% since first listed

15 events — show timeline

• 2026-04-14 Pending — SCMLS
• 2026-04-10 Relisted — SCMLS
• 2026-04-02 Pending — SCMLS
• 2026-02-13 Relisted — SCMLS
• 2025-12-18 Pending — SCMLS
• 2025-11-11 Price Changed $280,000 SCMLS
• 2025-10-26 Listed $315,000 SCMLS
• 2025-10-11 Pending — SCMLS
• 2025-10-08 Listing Removed — SCMLS
• 2025-10-08 Listing Removed — SCMLS
• 2025-07-11 Listed $299,900 SCMLS
• 2023-12-18 Pending — SCMLS
• 2023-05-10 Pending — SCMLS
• 2023-05-10 Listing Removed — SCMLS
• 2023-04-25 Listed $285,000 SCMLS

Property tax history

+17.9%/yr

Latest (2025): $583 · +8.8% YoY. Source: county tax records.