765 Cleaves St SE · Palm Bay, FL 32909

$175,000

2 bd · 2.0 ba · 1,026 sqft · SingleFamily public records · 8 Days on market

Built 1981 10,454 sqft lot

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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 +26.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

font color= FF0000 REDUCED BY MOTIVATED SELLER. /font IMMACULATE CBS home with screened back porch and fenced yard. Tile floors except in the bedrooms. Brand new utility shed. Brand new refrigerator, and glass flat top stove. Roof and A/C replaced in 2003. Hurricane panels, electric portable generator with its own electric subpanel for the house. New Anderson storm door and new well. Garage has A/C & garage door opener. font color= FF0000 Move-In Ready! /font '||chr(10)||'Addendum - OVE-IN READY!!

Key facts

• Large screened patio
• Storage shed
• Updated kitchen

Tags

• FRESHLY PAINTED EXTERIOR
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• LARGE SCREENED PATIO
• FENCED BACKYARD
• STORAGE SHED

Property features AI

Finance

• Other: Unfurnished

Exterior

• Parking: Garage; 1-car garage
• Utilities: Septic tank; Cable available; Electricity connected
• Home design: Single-family residence; One level; Faces south
• Construction: Concrete and stucco construction; Shingle roof
• Exterior features: Porch; Screened porch; Chain link full fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Other
• Laundry & utility: Washer; Dryer; Laundry in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% 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 average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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.
• Current owner paid $90k; list at $175k implies a 94% gain — meaningful room to come down on a strong offer.

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 $175,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.07% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 7.8

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: 32.6%
• Equity multiple: 3.56×
• Total profit: $125,300
• Equity at exit: $157,654

10-year hold

• IRR: 28.4%
• Equity multiple: 8.12×
• Total profit: $348,835
• Equity at exit: $339,987

Cash invested: $49,000 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$918
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $452

Break-even live

Break-even rent $1,305

Max offer price $175,000

Occupancy floor 71%

Sensitivity live

Price	-10% $551	-5% $502	+0% $452	+5% $403	+10% $353
Rent	-10% $304	-5% $378	+0% $452	+5% $526	+10% $600
Rate	-1.0pp $540	-0.5pp $497	base $452	+0.5pp $407	+1.0pp $361

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	24d	1	0.17mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	24d	1	0.28mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	24d	1	0.37mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	19d	1	0.58mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	14d	1	0.66mi
461 Ellington Ave SE Palm Bay, FL	2.0	2.0	1040	$1,595	$1.53	24d	1	0.70mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	24d	1	0.73mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	24d	1	0.81mi
741 Frisco St SE Palm Bay, FL	3.0	2.0	1156	$1,950	$1.69	24d	1	0.92mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	14d	1	0.92mi
1072 Genesee Ave SE Palm Bay, FL	3.0	2.0	1004	$1,855	$1.85	24d	1	0.92mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	14d	1	0.94mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$1,888	$1.90	14d	8	0.96mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	24d	1	1.02mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	24d	1	1.04mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	24d	1	1.13mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	14d	1	1.13mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$1,702	$1.62	14d	30	1.15mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	24d	1	1.19mi
205 Valor Dr SE Palm Bay, FL	1.0–2.0	1.0–2.0	901	$1,937	$2.15	14d	17	1.28mi
741 Fairhaven St NE Palm Bay, FL	2.0	2.0	1336	$1,900	$1.42	24d	1	1.43mi

Listing history 9 events

1. 2026-05-16
   status Pending
2. 2026-05-08
   listed $175,000 Active
3. 2008-02-05
   soldstatus $90,000
4. 2008-02-04
   soldstatus $90,000 508-char remark

   Show marketing remark (508 chars)

   font color= FF0000 REDUCED BY MOTIVATED SELLER. /font IMMACULATE CBS home with screened back porch and fenced yard. Tile floors except in the bedrooms. Brand new utility shed. Brand new refrigerator, and glass flat top stove. Roof and A/C replaced in 2003. Hurricane panels, electric portable generator with its own electric subpanel for the house. New Anderson storm door and new well. Garage has A/C & garage door opener. font color= FF0000 Move-In Ready! /font '||chr(10)||'Addendum - OVE-IN READY!!

5. 2007-07-23
   listed $105,000 508-char remark

   Show marketing remark (508 chars)

   font color= FF0000 REDUCED BY MOTIVATED SELLER. /font IMMACULATE CBS home with screened back porch and fenced yard. Tile floors except in the bedrooms. Brand new utility shed. Brand new refrigerator, and glass flat top stove. Roof and A/C replaced in 2003. Hurricane panels, electric portable generator with its own electric subpanel for the house. New Anderson storm door and new well. Garage has A/C & garage door opener. font color= FF0000 Move-In Ready! /font '||chr(10)||'Addendum - OVE-IN READY!!

6. 2004-10-29
   soldstatus $110,000
7. 2003-10-30
   soldstatus $82,500
8. 2003-07-11
   soldstatus $55,500
9. 1984-05-01
   soldstatus $50,000

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$973/yr (+$81/mo · 202.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $22,523
• − Mortgage interest: −$9,803
• − Property taxes: −$480
• − Insurance: −$875
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$5,091
• Taxable income: $2,671
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $4,785/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

+250.0% since first listed

9 events — show timeline

• 2026-05-16 Pending — SCMLS
• 2026-05-08 Listed $175,000 SCMLS
• 2008-02-05 Sold (Public Records) $90,000 Public Records
• 2008-02-04 Sold (MLS) $90,000 SCMLS
• 2007-07-23 Listed $105,000 SCMLS
• 2004-10-29 Sold (Public Records) $110,000 Public Records
• 2003-10-30 Sold (Public Records) $82,500 Public Records
• 2003-07-11 Sold (Public Records) $55,500 Public Records
• 1984-05-01 Sold (Public Records) $50,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $480 · +5.1% YoY. Source: county tax records.