507 Macon St SW · Palm Bay, FL 32908

$339,990

4 bd · 2.0 ba · 1,828 sqft · SingleFamily · 109 Days on market

Built 2026 0.26 ac 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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Introducing the Cali floorplan in Palm Bay, Florida, combining sophistication and comfort. Located in a boat and RV-friendly area, this property offers unmatched convenience and flexibility—without HOA restrictions. This 4-bedroom, 2-bathroom home spans 1,828 square feet with quartz countertops and luxury vinyl plank floors throughout main living and wet areas. The open-concept layout connects the living room, dining area, and kitchen, perfect for entertaining. Large windows fill the living room with natural light and scenic views. The kitchen features quartz countertops, an oversized single bowl undermount sink, stainless-steel appliances, a walk-in pantry, and a large island with a

Key facts

• Boat and rv-friendly
• Natural light
• Ensuite bathroom

Tags

• BOAT AND RV-FRIENDLY
• OPEN-CONCEPT LAYOUT
• NATURAL LIGHT
• STAINLESS-STEEL APPLIANCES
• WALK-IN PANTRY
• ENSUITE BATHROOM

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: Aerobic septic; Other utilities
• Home design: Single family residence; One story; North-facing; New construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Porch; Storm shutters

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Smart thermostat
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Pantry; Smart thermostat; Split bedrooms; Walk-in closet(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (19.2% below list).
• Recommended offer: $275k (19.2% 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); 1020 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 41% 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 $10k 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 109 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,709 (19.2% 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. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.81% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.26%
• DSCR: 0.90
• GRM: 10.3

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: -22.0%
• Equity multiple: 0.25×
• Total profit: $-71,125
• Equity at exit: $50,694

10-year hold

• IRR: -20.6%
• Equity multiple: 0.00×
• Total profit: $-94,904
• Equity at exit: $29,396

Cash invested: $95,197 (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: 1020
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,747 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-179

Break-even live

Break-even rent $2,974

Max offer price $314,031

Occupancy floor —

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: $84,998
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	23d	1	0.22mi
583 Halifax St SW Palm Bay, FL	4.0	2.0	1833	$2,075	$1.13	13d	1	0.47mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	23d	1	0.62mi
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	14d	1	0.82mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	23d	1	1.08mi
2437 Hagoplan Ave SW Palm Bay, FL	3.0	2.0	1840	$2,150	$1.17	23d	1	1.11mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	1.15mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	14d	1	1.20mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	13d	1	1.31mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	1.37mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	23d	1	1.44mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	13d	1	1.47mi

Listing history 15 events

1. 2026-06-18
   days on market $339,990 Active 109 DOM
2. 2026-06-17
   days on market $339,990 Active 108 DOM
3. 2026-06-16
   days on market $339,990 Active 107 DOM
4. 2026-06-15
   days on market $339,990 Active 106 DOM
5. 2026-06-14
   days on market $339,990 Active 104 DOM
6. 2026-06-10
   days on market $339,990 Active 101 DOM
7. 2026-06-08
   days on market $339,990 Active 99 DOM
8. 2026-06-07
   days on market $339,990 Active 98 DOM
9. 2026-06-05
   days on market $339,990 Active 95 DOM
10. 2026-06-03
    days on market $339,990 Active 94 DOM
11. 2026-06-02
    days on market $339,990 Active 93 DOM
12. 2026-06-01
    days on market $339,990 Active 92 DOM
13. 2026-05-31
    days on market $339,990 Active 91 DOM
14. 2026-05-31
    days on market $339,990 Active 90 DOM
15. 2026-03-01
    listed $339,990 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 19 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: $32,965
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,637
• − Management: −$2,637
• − Depreciation: −$9,891
• Taxable loss: −$8,044
• Est. tax savings @ 24.0%: +$1,931
• After-tax cash flow: $-222/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

1 event — show timeline

• 2026-03-01 Listed $339,990 SCMLS