145 Forest Lake Dr · Cocoa, FL 32926

$120,000

2 bd · 1.0 ba · 490 sqft · Manufactured public records · 185 Days on market

Manufactured home Built 1995 4,356 sqft lot $115/mo HOA · 11% of rent

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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).

• Cash flow +11.1/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• 1% rule +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 145 Forest Lake Dr, Cocoa, FL, located in the desirable Forest Lakes 55+ community, where you enjoy the rare advantage of owning your land, a highly uncommon feature among adult neighborhoods where lots are leases. This well-maintained home offers a comfortable, low-maintenance lifestyle in a gated community just minutes from shopping, dining, and the Space Coast. Residents of Forest Lakes enjoy an active social calendar and resort-style amenities, including a community pool perfect for swimming, water aerobics, and relaxing. The event center and clubhouse host a wide variety of activities such as bingo, card games, crafts, holiday parties, potlucks, and gatherings, creating a st

Key facts

• Gated community
• Shuffleboard courts
• Clubhouse

Tags

• FOREST LAKES COMMUNITY
• GATED COMMUNITY
• COMMUNITY POOL
• EVENT CENTER
• CLUBHOUSE
• SHUFFLEBOARD COURTS

Property features AI

Finance

• Other: Unfurnished; Directions available
• Financial info: Tax year 2025
• HOA & community: Community association: Forest Lakes of Cocoa; Association fee $115 monthly; Senior community

Exterior

• Parking: Additional parking
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected; Propane available
• Home design: Manufactured home; Faces west; Single-family use
• Construction: Aluminum siding; Vinyl siding; Frame construction; Building area total 1,276
• Exterior features: Additional parking; Lot listed as Other; 0.1-acre lot

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Two rooms total

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $-49 ($-586/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (9.7% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#344 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment 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: Saturn Elementary School (math 23% / reading 29%, grade F, #2,015 of 2,144 statewide, top 94%, 643 students, 81% FRL); Ronald Mcnair Magnet Middle School (math 58% / reading 50%, grade B-, #196 of 571 statewide, top 36%, 364 students, 58% FRL); Rockledge Senior High School (math 27% / reading 49%, grade F, #328 of 667 statewide, top 50%, 1,558 students, 50% 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 fast (+5.6%/yr); 296 active listings in the ZIP; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 185 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $120k implies a 118% 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; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% 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 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.42×
• Total profit: $-19,582
• Equity at exit: $17,892

10-year hold

• IRR: -3.2%
• Equity multiple: 0.76×
• Total profit: $-8,205
• Equity at exit: $10,375

Cash invested: $33,600 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 296
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$111 /mo · $1,332/yr
• Insurance: −$50
• HOA: −$115
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-49

Break-even live

Break-even rent $1,146

Max offer price $111,376

Occupancy floor 100%

Sensitivity live

Price	-10% $19	-5% $-15	+0% $-49	+5% $-83	+10% $-117
Rent	-10% $-134	-5% $-92	+0% $-49	+5% $-6	+10% $37
Rate	-1.0pp $12	-0.5pp $-18	base $-49	+0.5pp $-80	+1.0pp $-112

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $115 · $1,380/yr
• Likely covers: waterpoolsecurity

Listing history 22 events

1. 2026-06-23
   days on market $120,000 Active 185 DOM
2. 2026-06-22
   pricedays on market $120,000 Active 184 DOM
3. 2026-06-18
   days on market $139,999 Active 182 DOM
4. 2026-06-17
   days on market $139,999 Active 181 DOM
5. 2026-06-16
   days on market $139,999 Active 180 DOM
6. 2026-06-15
   days on market $139,999 Active 179 DOM
7. 2026-06-14
   days on market $139,999 Active 177 DOM
8. 2026-06-10
   days on market $139,999 Active 174 DOM
9. 2026-06-08
   days on market $139,999 Active 172 DOM
10. 2026-06-07
    days on market $139,999 Active 171 DOM
11. 2026-06-05
    days on market $139,999 Active 168 DOM
12. 2026-06-03
    days on market $139,999 Active 167 DOM
13. 2026-06-02
    days on market $139,999 Active 166 DOM
14. 2026-06-01
    days on market $139,999 Active 165 DOM
15. 2026-05-31
    days on market $139,999 Active 164 DOM
16. 2026-05-31
    days on market $139,999 Active 163 DOM
17. 2026-04-13
    price $139,999
18. 2026-03-23
    price $144,900
19. 2026-03-09
    price $148,900
20. 2025-12-16
    listed $154,999 Active
21. 2023-02-21
    soldstatus $55,000
22. 1987-03-01
    soldstatus $9,900

ⓘ 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: $1,332 · $111/mo
• Projected year-2 tax: $1,332 · $111/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 6/10 Major
• 🌡 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: $13,010
• − Mortgage interest: −$6,722
• − Property taxes: −$1,332
• − Insurance: −$600
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − HOA: −$1,380
• − Depreciation: −$3,491
• Taxable loss: −$2,597
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $37/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 — Cocoa

• Score: 72/100
• State rank: #344
• US rank: #5979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• City population: 67,424
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 23,505
• Household income: $70,735
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 782.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% German/W. Germanic 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: ▼ -68.32%
• Current HPI: 335.1251
• Rent YoY: ▲ 5.60%
• 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

+1314.1% since first listed

6 events — show timeline

• 2026-04-13 Price Changed $139,999 SCMLS
• 2026-03-23 Price Changed $144,900 SCMLS
• 2026-03-09 Price Changed $148,900 SCMLS
• 2025-12-16 Listed $154,999 SCMLS
• 2023-02-21 Sold (Public Records) $55,000 Public Records
• 1987-03-01 Sold (Public Records) $9,900 Public Records

Property tax history

+15.5%/yr

Latest (2025): $1,332 · +6.2% YoY. Source: county tax records.