1967 New York Ave SW · Palm Bay, FL 32908

$295,995

3 bd · 2.0 ba · 1,510 sqft · Land · 1 Days on market

Built 2025 10,454 sqft lot

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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 +9.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $296k.

Deal economics

• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (21.2% below list).
• Recommended offer: $233k (21.2% below list) — sets the bar for 1% rule.

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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 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 (+1.3%/yr); 1030 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 35% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $9k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $27k; list at $296k implies a 996% 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 $233,194 (21.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.94%
• DSCR: 0.87
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.29% rent growth · sell at horizon

5-year hold

• IRR: -23.1%
• Equity multiple: 0.22×
• Total profit: $-64,824
• Equity at exit: $44,134

10-year hold

• IRR: -22.9%
• Equity multiple: -0.07×
• Total profit: $-88,621
• Equity at exit: $25,592

Cash invested: $82,879 (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 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1030
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$1,552
• Tax est. 1.5%: −$370 /mo · $4,440/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $-203

Break-even live

Break-even rent $2,589

Max offer price $266,574

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-101	+0% $-203	+5% $-306	+10% $-408
Rent	-10% $-388	-5% $-295	+0% $-203	+5% $-111	+10% $-19
Rate	-1.0pp $-54	-0.5pp $-128	base $-203	+0.5pp $-280	+1.0pp $-358

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: $73,999
• Closing costs: $8,880
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
439 Gancedo St SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	25d	1	0.49mi
2008 Olympia Ave SW Palm Bay, FL	4.0	2.0	1828	$2,500	$1.37	25d	1	0.55mi
844 Corbin Cir SW Palm Bay, FL	4.0	2.0	2118	$2,500	$1.18	25d	1	0.58mi
1897 Gould Ave SW Palm Bay, FL	4.0	2.0	1555	$1,850	$1.19	25d	1	0.74mi
328 Hammonton St SW Palm Bay, FL	3.0	2.0	1942	$2,500	$1.29	25d	1	0.80mi
1718 Sawgrass Dr SW Palm Bay, FL	4.0	2.5	2248	$2,400	$1.07	25d	1	1.08mi
2437 Hagoplan Ave SW Palm Bay, FL	3.0	2.0	1840	$2,150	$1.17	25d	1	1.09mi
1733 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1865	$2,195	$1.18	23d	1	1.17mi
1736 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1873	$2,000	$1.07	25d	1	1.19mi
1523 Elmhurst Cir SE Palm Bay, FL	3.0	2.0	2028	$2,325	$1.15	25d	1	1.34mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	23d	1	1.48mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	15d	1	1.48mi

Listing history 22 events

1. 2025-08-29
   status Pending
2. 2025-04-14
   listed $295,995 Active
3. 2024-09-26
   soldstatus $27,000
4. 2024-09-24
   soldstatus $27,000 Closed 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

5. 2024-09-16
   status Pending 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

6. 2024-08-12
   historical Active Under Contract 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

7. 2024-07-19
   status Active 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

8. 2024-07-12
   historical 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

9. 2024-07-11
   listed $30,000 Active 662-char remark

   Show marketing remark (662 chars)

   Location, location location! Don't miss this buildable . 24 acre vacant land located in Palm Bay's growing & sought after Unit 49. This lot is located just minutes from Bayside Lakes and the brand new Heritage Park Way. It's convenient to I-95, great shopping, schools and area restaurants plus only a short drive to major defense companies like L3 Harris, Northup Grumman and more. Build your dream home or buy and hold for the future. The possibilities are endless for this great lot located a short drive to the Beaches, the Indian River and 1 hour From Orlando International Airport, Disney, Sea World, Universal Studios, Kennedy Space Center and More.

10. 2021-01-07
    soldstatus $9,000
11. 2020-12-23
    soldstatus $9,000 Closed 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

12. 2020-12-20
    status Pending 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

13. 2020-11-16
    price $9,500 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

14. 2020-11-16
    price $8,900 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

15. 2020-11-13
    price $11,000 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

16. 2020-11-12
    price $12,000 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

17. 2020-09-14
    price $13,000 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

18. 2020-08-29
    listed $14,000 Active 295-char remark

    Show marketing remark (295 chars)

    JUST REDUCED! Owner must sell!! Wooded tree lot is in a great place to build your new home for Privacy, with only a few neighbors, you can enjoy the quiet. Close to the Heritage Parkway, main artery to Melbourne and Bayside. Lots of potential with this lot as homes are being built in the area.

19. 2018-12-05
    historical
20. 2017-07-10
    listed $10,000
21. 2004-03-16
    soldstatus $13,000
22. 2003-10-24
    soldstatus $5,000

ⓘ 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 (shaded) · 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: $27,983
• − Mortgage interest: −$16,580
• − Property taxes: −$4,440
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,239
• − Management: −$2,239
• − Depreciation: −$8,611
• Taxable loss: −$7,605
• Est. tax savings @ 24.0%: +$1,825
• After-tax cash flow: $-615/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): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 112.0

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 20% Black 20% Two or more races 19%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 3% Estonian 2% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -38.22%
• Current HPI: 330.0399
• Rent YoY: ▲ 1.29%
• 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

+5819.9% since first listed

22 events — show timeline

• 2025-08-29 Pending — SCMLS
• 2025-04-14 Listed $295,995 SCMLS
• 2024-09-26 Sold (Public Records) $27,000 Public Records
• 2024-09-24 Sold (MLS) $27,000 SCMLS
• 2024-09-16 Pending — SCMLS
• 2024-08-12 Contingent — SCMLS
• 2024-07-19 Relisted — SCMLS
• 2024-07-12 Listing Removed — SCMLS
• 2024-07-11 Listed $30,000 SCMLS
• 2021-01-07 Sold (Public Records) $9,000 Public Records
• 2020-12-23 Sold (MLS) $9,000 SCMLS
• 2020-12-20 Pending — SCMLS
• 2020-11-16 Price Changed $9,500 SCMLS
• 2020-11-16 Price Changed $8,900 SCMLS
• 2020-11-13 Price Changed $11,000 SCMLS
• 2020-11-12 Price Changed $12,000 SCMLS
• 2020-09-14 Price Changed $13,000 SCMLS
• 2020-08-29 Listed $14,000 SCMLS
• 2018-12-05 Listing Removed — SCMLS
• 2017-07-10 Listed $10,000 SCMLS
• 2004-03-16 Sold (Public Records) $13,000 Public Records
• 2003-10-24 Sold (Public Records) $5,000 Public Records

Property tax history

+18.1%/yr

Latest (2025): $422 · +80.8% YoY. Source: county tax records.