2913 Pinewood Dr NE #16 · Palm Bay, FL 32905

$108,000

2 bd · 2.0 ba · 1,036 sqft · Condo public records · 42 Days on market

Built 1985 $125/mo HOA · 8% of rent

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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 +28.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks

Spacious 2 bedroom and 2 bath condominium is now for sale. The property is located on the first floor featuring a good sized patio. The kitchen has ample cabinet storage space and a pantry. The living room leads to the large dining room. This condo has great potential to be converted into your ideal living space. The home is being Sold in As Is condition without any Warranty nor Guarantee by seller. The buyer is responsible for verifying ALL property information, room sizes, utilities and condition.

Key facts

• Pantry
• Large dining room
• First floor

Tags

• FIRST FLOOR
• GOOD SIZED PATIO
• AMPLE CABINET STORAGE
• PANTRY
• LARGE DINING ROOM

Property features AI

Finance

• Other: Unit is listed as unfurnished; Living area reported (1,036) — note: square footage omitted from interior/exterior lists per instructions
• HOA & community: Association: Pinewood; Monthly association fee of $125; Association provides additional amenities (not specified)

Exterior

• Parking: Parking lot; Two-space carport
• Utilities: Public sewer; Other utilities
• Home design: Condominium; Single-story; Entry level: 1; East-facing
• Construction: Stucco construction; Pets allowed
• Exterior features: Patio; Lot described as 'Other'

Interior

• Kitchen: Dishwasher
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Heating present (type listed as 'Other')
• Interior features: Five total rooms; Patio access (see Exterior section for details)
• Laundry & utility: Unfurnished unit (no washer/dryer indicated)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.

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: University Park Elementary School (math 22% / reading 32%, grade F, #1,969 of 2,144 statewide, top 94%, 484 students, 76% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 69% FRL vs 43% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 55% district-wide (-24 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

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 $104,760 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-384
• Equity at exit: $16,103

10-year hold

• IRR: 5.5%
• Equity multiple: 1.34×
• Total profit: $10,426
• Equity at exit: $9,338

Cash invested: $30,240 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,530 high
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,620/yr
• Insurance: −$45
• HOA: −$125
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $338

Break-even live

Break-even rent $1,103

Max offer price $108,000

Occupancy floor 73%

Sensitivity live

Price	-10% $412	-5% $375	+0% $338	+5% $300	+10% $263
Rent	-10% $217	-5% $277	+0% $338	+5% $398	+10% $458
Rate	-1.0pp $392	-0.5pp $365	base $338	+0.5pp $310	+1.0pp $281

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	24d	1	0.10mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	24d	5	0.12mi
1300 Arlington Ln NE #125 Palm Bay, FL	2.0	2.5	1140	$1,500	$1.32	20d	1	0.24mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	24d	1	0.25mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,382	$1.27	15d	6	0.32mi
3711 Vista Oaks Cir NE Palm Bay, FL	2.0	1.5	1236	$1,500	$1.21	22d	1	0.39mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	24d	12	0.43mi
2106 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,900	$1.48	15d	1	0.55mi
520 Benton Dr Melbourne, FL	3.0	2.0	1281	$1,850	$1.44	24d	1	0.55mi
2168 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,775	$1.39	15d	1	0.59mi
1000 Palm Place Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	884	$2,185	$2.47	22d	8	0.61mi
4315 S Babcock St Melbourne, FL	1.0–3.0	1.0–2.0	996	$1,738	$1.74	14d	15	0.61mi
342 Crown Blvd Melbourne, FL	3.0	2.0	1224	$1,900	$1.55	24d	1	0.64mi
1265 Ethel Cir NE Palm Bay, FL	3.0	2.0	1346	$1,750	$1.30	15d	1	0.77mi
1264 Dawn St NE Palm Bay, FL	3.0	2.0	1176	$1,950	$1.66	15d	1	0.87mi
2190 Forest Knoll Dr NE Unit 90-202 Palm Bay, FL	2.0	2.0	1069	$1,400	$1.31	24d	1	0.89mi
2160 Forest Knoll Dr NE Unit 60-102 Palm Bay, FL	2.0	2.0	1069	$1,350	$1.26	24d	1	0.90mi
2130 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,450	$1.36	24d	1	0.95mi
1701 Forest Knoll Dr NE Palm Bay, FL	2.0–3.0	2.0	1200	$1,499	$1.25	15d	5	0.95mi
1123 Tree Ridge Ln NE Palm Bay, FL	2.0	1.0	870	$1,350	$1.55	24d	1	0.95mi
2100 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,600	$1.50	15d	1	0.96mi
1894 Coco Plum St NE Palm Bay, FL	2.0	2.0	1188	$1,200	$1.01	20d	1	0.99mi
2152 Spring Creek Cir NE Palm Bay, FL	3.0	2.0	1465	$2,249	$1.54	24d	1	1.00mi
1601 Sunny Brook Ln NE Unit D101 Palm Bay, FL	2.0	2.0	846	$1,550	$1.83	24d	1	1.01mi
1625 Sunny Brook Ln NE Unit G103 Palm Bay, FL	3.0	2.0	914	$1,700	$1.86	24d	1	1.01mi
1641 Sunny Brook Ln NE Palm Bay, FL	2.0	2.0	862	$1,500	$1.74	15d	3	1.01mi
1649 Sunny Brook Ln NE Palm Bay, FL	1.0–2.0	1.0–2.0	760	$1,950	$2.57	15d	2	1.01mi
3814 Tree Ridge Ln NE Palm Bay, FL	2.0	2.5	1170	$1,500	$1.28	24d	1	1.04mi
1501 Harvard Cir Melbourne, FL	1.0–3.0	1.0–2.0	1075	$1,765	$1.64	24d	3	1.04mi
3513 Tree Ridge Ln NE Palm Bay, FL	2.0	2.5	1170	$2,000	$1.71	24d	1	1.10mi
1608 Sunny Brook Ln Palm Bay, FL	1.0–3.0	1.0–2.0	1040	$1,412	$1.36	24d	6	1.12mi
1924 Seagrape St NE Palm Bay, FL	2.0	2.0	1206	$1,575	$1.31	15d	1	1.13mi
890 Luminary Cir #103 Melbourne, FL	3.0	2.0	1277	$1,800	$1.41	15d	1	1.13mi
1656 Sunny Brook Ln NE Unit L102 Palm Bay, FL	3.0	2.0	914	$1,690	$1.85	22d	1	1.18mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	24d	1	1.19mi
790 Luminary Cir #104 Melbourne, FL	2.0	2.0	1008	$1,850	$1.84	24d	1	1.19mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	15d	33	1.25mi
310 Fitness Cir Melbourne, FL	1.0–3.0	1.0–2.0	843	$1,412	$1.68	14d	12	1.26mi
1311 Cindy Cir NE Palm Bay, FL	2.0	2.0	865	$1,700	$1.97	24d	1	1.27mi
1907 Cleveland St NE Palm Bay, FL	3.0	2.0	1320	$1,985	$1.50	24d	1	1.27mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $108,000 Active 42 DOM
2. 2026-06-17
   days on market $108,000 Active 41 DOM
3. 2026-06-16
   days on market $108,000 Active 40 DOM
4. 2026-06-15
   days on market $108,000 Active 39 DOM
5. 2026-06-14
   days on market $108,000 Active 37 DOM
6. 2026-06-10
   days on market $108,000 Active 34 DOM
7. 2026-06-08
   days on market $108,000 Active 32 DOM
8. 2026-06-07
   days on market $108,000 Active 31 DOM
9. 2026-06-05
   days on market $108,000 Active 28 DOM
10. 2026-06-03
    statusdays on market $108,000 Active 27 DOM
11. 2026-05-20
    status Pending
12. 2026-04-23
    listed $108,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°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: $18,364
• − Mortgage interest: −$6,050
• − Property taxes: −$1,620
• − Insurance: −$540
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − HOA: −$1,500
• − Depreciation: −$3,142
• Taxable income: $2,574
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $3,433/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

2 events — show timeline

• 2026-05-20 Pending — SCMLS
• 2026-04-23 Listed $108,000 SCMLS

Property tax history

+2.4%/yr

Latest (2025): $55 · +4.2% YoY. Source: county tax records.