401 Monroe Ave · Cape Canaveral, FL 32920

$170,000

2 bd · 1.0 ba · 896 sqft · Condo · 10 Days on market

Built 1963 Average condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Cash flow +5.6/30.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.8/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

nicely maintained small condo association. going through plumbing repairs now, with two future assesments to come. Approx 2200 in November, and 6000 next year. newly painted, parking lot recently refinished, pool refinished 2 years ago. Kitchen has granite countertops and modern cabinetry. overlooks pool. 2 block walk to the beach. Community center across the street. Close to Port Canaveral restaurants. Library, police dept. and fire dept nearby.

Key facts

• Modern cabinetry
• Pool refinished
• Plumbing repairs

Tags

• SMALL CONDO ASSOCIATION
• PLUMBING REPAIRS
• PARKING LOT REFINISHED
• POOL REFINISHED
• GRANITE COUNTERTOPS
• MODERN CABINETRY

Property features AI

Exterior

• Home design: Built in 1963; Single-story
• Construction: Year built: 1963
• Exterior features: Porch

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Tile; Carpet
• Interior features: Tile and carpet flooring; Porch

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $170k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-354 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).

Location & tenants

• Location reads 84/100 on livability (#34 in FL, #677 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: 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.
• Market conditions: Rents rising fast (+4.0%/yr); 219 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,000

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. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
8. 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.
9. 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.
10. 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: 1.14% ✓
• Cap rate: 3.79%
• Cash-on-cash: -8.93%
• DSCR: 0.60
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -29.7%
• Equity multiple: -0.00×
• Total profit: $-47,652
• Equity at exit: $25,348

10-year hold

• IRR: -23.0%
• Equity multiple: -0.27×
• Total profit: $-60,279
• Equity at exit: $14,698

Cash invested: $47,600 (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 32920

• Home prices YoY: -29.5%
• Rents YoY: 4.0%
• Active inventory: 219
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,933 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA est. from 1 same-building comp: −$707
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-354

Break-even live

Break-even rent $2,382

Max offer price $118,717

Occupancy floor —

Sensitivity live

Price	-10% $-237	-5% $-296	+0% $-354	+5% $-413	+10% $-472
Rent	-10% $-507	-5% $-431	+0% $-354	+5% $-278	+10% $-202
Rate	-1.0pp $-269	-0.5pp $-311	base $-354	+0.5pp $-398	+1.0pp $-443

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Monroe Ave Unit C201 Cape Canaveral, FL	2.0	1.0	828	$1,650	$1.99	24d	1	0.02mi
411 Madison Ave Unit N202 Cape Canaveral, FL	1.0	1.0	672	$1,650	$2.46	24d	1	0.05mi
419 Madison Ave Unit 102 Cape Canaveral, FL	1.0	1.0	672	$1,450	$2.16	24d	1	0.06mi
7777 Magnolia Ave Unit 8 Cape Canaveral, FL	2.0	1.0	891	$1,800	$2.02	24d	1	0.07mi
408 Harrison Ave Unit 1346830P Cape Canaveral, FL	1.0	1.0	947	$4,114	$4.34	19d	1	0.07mi
300 Monroe Ave #21 Cape Canaveral, FL	1.0	1.0	608	$1,500	$2.47	14d	1	0.09mi
467 Jackson Ave Unit Back Unit Cape Canaveral, FL	1.0	1.0	528	$1,500	$2.84	24d	1	0.10mi
7801 Ridgewood Ave Cape Canaveral, FL	1.0–3.0	1.0–2.0	893	$1,850	$2.07	21d	3	0.10mi
411 Jefferson Ave Cape Canaveral, FL	2.0	1.0	780	$1,700	$2.18	24d	1	0.10mi
415 Harrison Ave #4 Cape Canaveral, FL	2.0	1.0	900	$1,300	$1.44	24d	1	0.13mi
523 Jefferson Ave Cape Canaveral, FL	1.0	1.0	1000	$2,300	$2.30	24d	1	0.17mi
120 Madison Ave Cape Canaveral, FL	2.0	2.5	1080	$2,800	$2.59	24d	1	0.23mi
8154 Ridgewood Ave Cape Canaveral, FL	2.0	2.0	1104	$2,500	$2.26	24d	1	0.24mi
375 Polk Ave Unit A18 Cape Canaveral, FL	2.0	1.0	921	$1,700	$1.85	24d	1	0.24mi
375 Polk Ave Unit 12A4 Cape Canaveral, FL	2.0	1.5	868	$2,100	$2.42	14d	1	0.24mi
610 Jefferson Ave Cape Canaveral, FL	1.0	1.0	619	$2,000	$3.23	24d	3	0.24mi
610 Jefferson Ave Cape Canaveral, FL	1.0	1.0	619	$2,000	$3.23	19d	2	0.24mi
355 Polk Ave #8 Cape Canaveral, FL	1.0	1.0	550	$1,300	$2.36	14d	1	0.25mi
128 Adams Ave Unit 1 Cape Canaveral, FL	2.0	1.0	663	$1,500	$2.26	14d	1	0.27mi
310 Taylor Ave Cape Canaveral, FL	1.0–2.0	1.0	820	$1,600	$1.95	24d	3	0.27mi
310 Taylor Ave Unit C19 Cape Canaveral, FL	2.0	1.0	921	$1,525	$1.66	14d	1	0.28mi
211 Caroline St Cape Canaveral, FL	2.0	1.0	705	$1,545	$2.19	24d	1	0.28mi
7301 Ridgewood Ave Unit A101 Cape Canaveral, FL	2.0	2.0	1045	$1,900	$1.82	24d	1	0.31mi
500 Fillmore Ave Unit 1320142P Cape Canaveral, FL	2.0	2.0	968	$4,115	$4.25	21d	1	0.33mi
201 Chandler St Cape Canaveral, FL	1.0–2.0	1.0–2.0	700	$1,595	$2.28	19d	1	0.37mi
330 Pierce Ave Cape Canaveral, FL	1.0	1.0	800	$1,800	$2.25	24d	1	0.38mi
236 Chandler St Unit C Cape Canaveral, FL	2.0	1.5	992	$1,900	$1.92	24d	1	0.39mi
237 Cherie Down Ln Unit 1 Cape Canaveral, FL	2.0	2.5	960	$2,150	$2.24	24d	1	0.40mi
227 Canaveral Beach Blvd Unit 5 Cape Canaveral, FL	1.0	1.0	700	$1,600	$2.29	21d	1	0.41mi
227 Canaveral Beach Blvd Cape Canaveral, FL	1.0	1.0	700	$1,600	$2.29	19d	1	0.41mi
206 Pierce Ave Cape Canaveral, FL	2.0	1.0	1000	$2,000	$2.00	14d	1	0.42mi
7101 Ridgewood Ave #203 Cape Canaveral, FL	2.0	1.5	1110	$1,900	$1.71	24d	1	0.43mi
200 International Dr #510 Cape Canaveral, FL	2.0	2.0	1023	$2,000	$1.96	24d	1	0.44mi
200 International Dr Unit CANB51 Cape Canaveral, FL	2.0	2.0	1023	$2,100	$2.05	14d	1	0.44mi
240 Canaveral Beach Blvd Cape Canaveral, FL	2.0	1.0	828	$2,200	$2.66	14d	1	0.45mi
258 Canaveral Beach Blvd Unit 1245234P Cape Canaveral, FL	2.0	1.5	818	$2,570	$3.14	14d	1	0.46mi
262 Canaveral Beach Blvd Unit 1464867P Cape Canaveral, FL	2.0	1.5	968	$2,245	$2.32	14d	1	0.46mi
201 International Dr #653 Cape Canaveral, FL	2.0	2.0	1050	$2,400	$2.29	24d	1	0.46mi
8401 N Atlantic Ave Cape Canaveral, FL	1.0–2.0	1.0	707	$1,495	$2.11	14d	5	0.47mi
8401 N Atlantic Ave Cape Canaveral, FL	1.0–2.0	1.0	707	$1,550	$2.19	21d	5	0.47mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-18
   days on market $170,000 Active 10 DOM
2. 2026-06-17
   days on market $170,000 Active 9 DOM
3. 2026-06-16
   days on market $170,000 Active 8 DOM
4. 2026-06-15
   days on market $170,000 Active 7 DOM
5. 2026-06-14
   days on market $170,000 Active 5 DOM
6. 2026-06-10
   days on market $170,000 Active 2 DOM
7. 2026-06-09
   remarks 450-char remark
8. 2026-06-09
   listed $170,000 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X (shaded) · 58% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $23,201
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,856
• − Management: −$1,856
• − HOA: −$8,484
• − Depreciation: −$4,945
• Taxable loss: −$6,863
• Est. tax savings @ 24.0%: +$1,647
• After-tax cash flow: $-2,606/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.

Condition & rehab AI · 1 photo

Average 55/100 Cosmetic rehab

A well-maintained condo with a good kitchen and granite countertops, but needs exterior painting and minor structural repairs to enhance its resale and rental value.

Repairs flagged

• Minor exterior paint — Painted but showing wear
• Minor exterior siding — No visible damage

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both repair and maintain roof — Ensures structural integrity and prevents water damage

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Painted but showing wear	Minor	$500–3,000
exterior siding · No visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both repair and maintain roof — Ensures structural integrity and prevents water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cape Canaveral

• Score: 84/100
• State rank: #34
• US rank: #677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Canaveral, FL
• County: Brevard County · 602,871 people
• City population: 10,005
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 10,005
• Household income: $66,955
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 477.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6%
• Common ancestry: Romanian 5% Lithuanian 5% Serbian 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -125.71%
• Current HPI: 300.9707
• Rent YoY: ▲ 4.02%
• 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

+10203.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $170,000 FSBO.com
• 2024-05-18 Rental Removed $1,650 RENT.
• 2024-04-17 Listed for Rent $1,650 RENT.