221 Prince William Ct

Satellite Beach, FL 32937

$449,900D

4 bd · 3.0 ba · 2,046 sqft · Built 2003 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,997/mo
• Mortgage (P&I): −$2,359
• Tax + insurance: −$750
• HOA: −$188
• Vac / Maint / Mgmt: −$839
• Net cashflow: $-139/mo
• Annual: $-1,671/yr
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• 1% rule: 0.89%
• Cash to close: $125,972

Investor read

• This is a 4-bed/3.0-bath single-family listed at $450k.
• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $430k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (11.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $400k (11.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#45 in FL, #856 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities 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: W. Melbourne Elementary School For Science (math 88% / reading 86%, grade A+, #24 of 2,144 statewide, top 1%, 549 students, 18% FRL); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Satellite Senior High School (math 65% / reading 71%, grade B, #66 of 667 statewide, top 10%, 1,517 students, 20% FRL) — zoned schools average 20% FRL vs 43% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 76% at this address vs 55% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 317 active listings in the ZIP; 15 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).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At $3,997/mo this rent would consume 47% of the median local household income ($101k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.
• 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.