The Paradise Point Plan · North Merritt Island, FL 32952

$54,900

3 bd · 2.0 ba · 1,056 sqft · SingleFamily · 487 Days on market

Good condition

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Rent growth +4.1/5.0
• Condition / age +4.0/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Pristine beaches
• Listed 486 days

Tags

• PET FRIENDLY NEIGHBORHOOD
• PRISTINE BEACHES
• LUSH NATURE PRESERVES
• INDIAN AND BANANA RIVERS

🏗️ New construction. The $54,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $153,136.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.3% in North Merritt Island — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: Lewis Carroll Elementary School (math 72% / reading 70%, grade A-, #320 of 2,144 statewide, top 15%, 626 students, 38% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 319 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $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.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 487 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 487 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.43%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $153,136
• List price: $54,900
• Delta: -64.15%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6838 Whaley Rd	0.07mi	3/2.0	924 (-12%)	1mo	$89,000	$96	75
345 Saint Charles Ave	0.14mi	4/1.5 (+1)	1,176 (+11%)	7mo	$77,900	$66	62
345 Creole Dr	0.11mi	3/2.0	1,288 (+22%)	13mo	$212,000	$165	59
330 Creole Dr	0.10mi	2/2.0 (-1)	1,152 (+9%)	33mo	$145,000	$126	55
375 Baker Rd	0.18mi	2/2.0 (-1)	800 (-24%)	10mo	$40,000	$50	53
7610 Patti Dr	1.11mi	3/2.0	1,272 (+20%)	1mo	$170,000	$134	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.32×
• Total profit: $13,632
• Equity at exit: $22,833

10-year hold

• IRR: 20.0%
• Equity multiple: 2.98×
• Total profit: $84,992
• Equity at exit: $13,240

Cash invested: $42,878 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 25 active · 1 under contract
• Months of supply: 150.0 mo (1%/mo absorbed)
• Median asking: $64,900 ($60/sqft)
• Median days on market: 46 d
• This list price: 48% of active listings are priced below it
• ARV vs active asking: +143.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32952

• Rents YoY: 6.5%
• Active inventory: 319
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,038 medium
• Mortgage (P&I): −$803
• Tax est. 1.5%: −$191 /mo · $2,297/yr
• Insurance: −$64
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $485

Break-even live

Break-even rent $1,424

Max offer price $153,136

Occupancy floor 71%

Sensitivity live

Price	-10% $591	-5% $538	+0% $485	+5% $432	+10% $379
Rent	-10% $324	-5% $404	+0% $485	+5% $565	+10% $646
Rate	-1.0pp $562	-0.5pp $524	base $485	+0.5pp $445	+1.0pp $405

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: $38,284
• Closing costs: $4,594
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6876 Marilane Merritt Island, FL	2.0	2.0	840	$1,300	$1.55	7d	3	0.03mi
1401 Dalbora Rd Unit B Merritt Island, FL	2.0	2.0	1011	$1,700	$1.68	7d	1	1.26mi

Property features AI

Finance

• Other: Address: Merritt Island, FL (The Paradise Point Plan)
• Financial info: List price provided
• HOA & community: No HOA/community details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Electric serviceCentral air for cooling
• Home design: Plan: The Paradise PointNew construction plan
• Construction: Living area approximately 1,056 (living area value provided)
• Exterior features: Shake roof

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heatingCentral air conditioning
• Interior features: Open floor plan (model/plan name: The Paradise Point)
• Laundry & utility: No laundry/utility details provided

Listing history 47 events

1. 2026-08-11
   days on market $54,900 Active 487 DOM
2. 2026-08-10
   days on market $54,900 Active 486 DOM
3. 2026-08-09
   days on market $54,900 Active 485 DOM
4. 2026-08-08
   days on market $54,900 Active 484 DOM
5. 2026-08-07
   days on market $54,900 Active 483 DOM
6. 2026-08-06
   days on market $54,900 Active 482 DOM
7. 2026-08-05
   days on market $54,900 Active 481 DOM
8. 2026-08-03
   days on market $54,900 Active 479 DOM
9. 2026-07-31
   days on market $54,900 Active 476 DOM
10. 2026-07-29
    days on market $54,900 Active 474 DOM
11. 2026-07-25
    days on market $54,900 Active 470 DOM
12. 2026-07-23
    days on market $54,900 Active 468 DOM
13. 2026-07-22
    days on market $54,900 Active 467 DOM
14. 2026-07-21
    days on market $54,900 Active 466 DOM
15. 2026-07-18
    days on market $54,900 Active 463 DOM
16. 2026-07-16
    days on market $54,900 Active 460 DOM
17. 2026-07-14
    days on market $54,900 Active 459 DOM
18. 2026-07-12
    days on market $54,900 Active 457 DOM
19. 2026-07-11
    days on market $54,900 Active 456 DOM
20. 2026-07-10
    days on market $54,900 Active 455 DOM
21. 2026-07-09
    days on market $54,900 Active 454 DOM
22. 2026-07-07
    days on market $54,900 Active 452 DOM
23. 2026-07-05
    days on market $54,900 Active 450 DOM
24. 2026-07-04
    days on market $54,900 Active 449 DOM
25. 2026-07-03
    days on market $54,900 Active 448 DOM
26. 2026-07-02
    days on market $54,900 Active 447 DOM
27. 2026-07-01
    days on market $54,900 Active 446 DOM
28. 2026-06-30
    days on market $54,900 Active 445 DOM
29. 2026-06-29
    days on market $54,900 Active 444 DOM
30. 2026-06-28
    days on market $54,900 Active 443 DOM
31. 2026-06-28
    days on market $54,900 Active 442 DOM
32. 2026-06-27
    days on market $54,900 Active 441 DOM
33. 2026-06-25
    days on market $54,900 Active 439 DOM
34. 2026-06-22
    days on market $54,900 Active 436 DOM
35. 2026-06-18
    days on market $54,900 Active 433 DOM
36. 2026-06-17
    days on market $54,900 Active 432 DOM
37. 2026-06-16
    days on market $54,900 Active 431 DOM
38. 2026-06-15
    days on market $54,900 Active 430 DOM
39. 2026-06-14
    days on market $54,900 Active 428 DOM
40. 2026-06-10
    days on market $54,900 Active 425 DOM
41. 2026-06-08
    days on market $54,900 Active 423 DOM
42. 2026-06-07
    days on market $54,900 Active 422 DOM
43. 2026-06-05
    days on market $54,900 Active 419 DOM
44. 2026-06-03
    days on market $54,900 Active 418 DOM
45. 2026-06-02
    days on market $54,900 Active 417 DOM
46. 2026-06-01
    days on market $54,900 Active 416 DOM
47. 2026-05-31
    days on market $54,900 Active 415 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,450
• − Mortgage interest: −$8,578
• − Property taxes: −$2,297
• − Insurance: −$1,563
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$4,455
• Taxable income: $3,645
• Est. tax owed @ 24.0%: −$875
• After-tax cash flow: $4,944/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 · 3 photos

Good 80/100 Cosmetic rehab Est. rehab $5,280–$15,840 screening

The home is in good condition with a good exterior and interior. Some minor maintenance and cosmetic updates can further enhance its value.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve curb appeal and add value to the home. ↑
• Both Replace or clean the windows — Clean or replace windows can improve energy efficiency and add value to the home. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Lewis Carroll Elementary School A- FL #320/2,144 Nat'l #3,228/41,679 Middle Thomas Jefferson Middle School B FL #144/571 Nat'l #1,951/14,009 High Merritt Island High School F FL #248/667 Nat'l #7,376/17,239

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 — North Merritt Island

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: North Merritt Island, FL
• County: Brevard County · 623,254 people
• City population: 24,834
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 21,613
• Household income: $102,726
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1%

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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: ▼ -177.56%
• Current HPI: 323.6021
• Rent YoY: ▲ 6.53%
• Metro: Palm Bay-Melbourne-Titusville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Address: Merritt Island, FL (The Paradise Point Plan)
• Financial info: List price provided
• HOA & community: No HOA/community details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Electric serviceCentral air for cooling
• Home design: Plan: The Paradise PointNew construction plan
• Construction: Living area approximately 1,056 (living area value provided)
• Exterior features: Shake roof

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heatingCentral air conditioning
• Interior features: Open floor plan (model/plan name: The Paradise Point)
• Laundry & utility: No laundry/utility details provided