1848 Seagrape St NE · Palm Bay, FL 32905

$145,000

2 bd · 2.0 ba · 1,104 sqft · Manufactured public records · 103 Days on market

Built 1975 4,792 sqft lot

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Why this score? — see what drove the C+ 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

Here is an opportunity for you to live in much sought after Palm Bay Colony. This home is a very nice 3 Bedroom 2 Bathroom home. This home has a beautiful deck on the side of the home, it's own well for irrigation, a workshop with utilities and a fenced in yard. Newer appliances - Stainless Refrigerator, dishwasher, and glass top stove. Front Load Washer and Dryer are also included! The positives far outweigh the negatives. It was a rental and will need some work but at this price you can't go wrong. Call today for a showing and get this home before it is gone.

Key facts

• 4,792 sq ft lot
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Association: Palm Bay Colony; Voluntary association fee ($45) that includes grounds maintenance; Community amenities: Clubhouse, Tennis courts, Pickleball, Shuffleboard; Senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Public sewer; Electricity connected; Water connected; Cable available; Sewer connected
• Home design: Manufactured home; One level; Faces south
• Construction: Frame construction with vinyl siding; Membrane roof
• Exterior features: Covered patio; Patio; Side porch; Chain link fencing around backyard; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Built-in features; Primary bathroom with shower (no tub)
• Laundry & utility: In-unit washer and dryer; Dryer; Washer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.

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: Palm Bay Elementary School (math 35% / reading 35%, grade F, #1,697 of 2,144 statewide, top 80%, 586 students, 74% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 69% FRL vs 43% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 55% district-wide (-22 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 34% of the median local income ($56k/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 $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 103 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $145k implies a 110% 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 $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-10,179
• Equity at exit: $21,620

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-3,621
• Equity at exit: $12,537

Cash invested: $40,600 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,577 high
• Mortgage (P&I): −$760
• Tax from tax record: −$143 /mo · $1,717/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $282

Break-even live

Break-even rent $1,220

Max offer price $145,000

Occupancy floor 77%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1924 Seagrape St NE Palm Bay, FL	2.0	2.0	1206	$1,575	$1.31	14d	1	0.15mi
1894 Coco Plum St NE Palm Bay, FL	2.0	2.0	1188	$1,200	$1.01	19d	1	0.15mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	23d	1	0.28mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	14d	47	0.38mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	14d	33	0.52mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$1,740	$1.59	14d	20	0.52mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	23d	12	0.65mi
520 Benton Dr Melbourne, FL	3.0	2.0	1281	$1,850	$1.44	23d	1	0.71mi
3711 Vista Oaks Cir NE Palm Bay, FL	2.0	1.5	1236	$1,500	$1.21	21d	1	0.73mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	23d	1	0.79mi
342 Crown Blvd Melbourne, FL	3.0	2.0	1224	$1,900	$1.55	23d	1	0.91mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	23d	5	0.96mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	0.97mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	23d	1	1.04mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,382	$1.27	14d	6	1.05mi
2168 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,775	$1.39	14d	1	1.10mi
1300 Arlington Ln NE #125 Palm Bay, FL	2.0	2.5	1140	$1,500	$1.32	19d	1	1.12mi
2106 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,900	$1.48	14d	1	1.13mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	23d	1	1.25mi
4315 S Babcock St Melbourne, FL	1.0–3.0	1.0–2.0	996	$1,738	$1.74	14d	15	1.25mi
3101 Wiley Ave Melbourne, FL	3.0	2.0	1185	$1,499	$1.26	23d	1	1.45mi
343 Talbot St Melbourne, FL	3.0	2.0	1355	$1,699	$1.25	23d	1	1.47mi
1051 Clearmont St NE Unit 202 Palm Bay, FL	2.0	2.0	993	$1,480	$1.49	19d	1	1.50mi

Listing history 19 events

1. 2026-06-15
   days on market $145,000 Active 103 DOM
2. 2026-06-14
   days on market $145,000 Active 101 DOM
3. 2026-06-10
   days on market $145,000 Active 98 DOM
4. 2026-06-08
   days on market $145,000 Active 96 DOM
5. 2026-06-07
   days on market $145,000 Active 95 DOM
6. 2026-06-05
   days on market $145,000 Active 92 DOM
7. 2026-06-03
   days on market $145,000 Active 91 DOM
8. 2026-06-02
   days on market $145,000 Active 90 DOM
9. 2026-06-01
   days on market $145,000 Active 89 DOM
10. 2026-05-31
    days on market $145,000 Active 88 DOM
11. 2026-05-31
    pricedays on market $145,000 Active 87 DOM
12. 2026-05-14
    price $157,000
13. 2026-03-17
    price $160,000
14. 2026-03-04
    listed $175,000 Active
15. 2026-02-17
    historical $175,000
16. 2017-05-22
    soldstatus $69,000 567-char remark

    Show marketing remark (567 chars)

    Here is an opportunity for you to live in much sought after Palm Bay Colony. This home is a very nice 3 Bedroom 2 Bathroom home. This home has a beautiful deck on the side of the home, it's own well for irrigation, a workshop with utilities and a fenced in yard. Newer appliances - Stainless Refrigerator, dishwasher, and glass top stove. Front Load Washer and Dryer are also included! The positives far outweigh the negatives. It was a rental and will need some work but at this price you can't go wrong. Call today for a showing and get this home before it is gone.

17. 2017-03-21
    listed $72,000 567-char remark

    Show marketing remark (567 chars)

    Here is an opportunity for you to live in much sought after Palm Bay Colony. This home is a very nice 3 Bedroom 2 Bathroom home. This home has a beautiful deck on the side of the home, it's own well for irrigation, a workshop with utilities and a fenced in yard. Newer appliances - Stainless Refrigerator, dishwasher, and glass top stove. Front Load Washer and Dryer are also included! The positives far outweigh the negatives. It was a rental and will need some work but at this price you can't go wrong. Call today for a showing and get this home before it is gone.

18. 2008-03-17
    listed $39,900
19. 1975-04-01
    soldstatus $21,500

ⓘ 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: $1,717 · $143/mo
• Projected year-2 tax: $1,717 · $143/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $18,920
• − Mortgage interest: −$8,122
• − Property taxes: −$1,717
• − Insurance: −$725
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$4,218
• Taxable income: $1,110
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $3,113/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+630.2% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $157,000 SCMLS
• 2026-03-17 Price Changed $160,000 SCMLS
• 2026-03-04 Listed $175,000 SCMLS
• 2026-02-17 Coming Soon $175,000 SCMLS
• 2017-05-22 Sold (MLS) $69,000 SCMLS
• 2017-03-21 Listed $72,000 SCMLS
• 2008-03-17 Listed $39,900 SCMLS
• 1975-04-01 Sold (Public Records) $21,500 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,717 · +1.6% YoY. Source: county tax records.