2101 Forest Knoll Dr NE Unit 01-205 · Palm Bay, FL 32905

$110,000

2 bd · 2.0 ba · 1,069 sqft · Condo public records · 112 Days on market

Built 1983 $445/mo HOA · 27% of rent

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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 +22.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 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

NOT A SHORT SELL. .. .SOLD AS IS. .. .Conveniently located just south of Palm Bay Rd, this spacious two bedroom two bath condo at an incredible price. Galley kitchen with adjoining dining area. Inside laundry room, large living area. Master bedroom is extra large with double sinks in the bath plus a walk-in closet. The grounds are well cared for and the in ground community pool is crystal clear.

Key facts

• $445 HOA
• Community pool
• Built 1983

Property features AI

Finance

• Other: Unfurnished unit
• HOA & community: Association: PALMS CONDO; Monthly association fee (includes grounds and structure maintenance, trash): $445; Community is gated and provides maintenance for structures

Exterior

• Parking: Unassigned parking
• Security: Gated community; Security gate; Smoke detector(s)
• Utilities: Private sewer; Cable available; Electricity connected; Water connected
• Home design: Condominium; Two levels; Entry on level 2; Faces east; Property is attached
• Construction: Frame and stucco construction; Shingle roof; 2-story building; Built with standard foundation
• Exterior features: Balcony; Asphalt road access; Other lot features

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and hot water); Central air conditioning (electric)
• Interior features: Primary bathroom with tub and shower; Walk-in closet(s)
• Laundry & utility: In-unit washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (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: Riviera Elementary School (math 56% / reading 48%, grade C-, #990 of 2,144 statewide, top 48%, 696 students, 72% 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 68% FRL vs 43% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 ($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 $761 of loan paydown is wiped out by about $3k 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 112 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $25k; list at $110k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: 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 $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.50% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 5.6

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: -10.2%
• Equity multiple: 0.64×
• Total profit: $-11,025
• Equity at exit: $16,401

10-year hold

• IRR: -8.0%
• Equity multiple: 0.59×
• Total profit: $-12,593
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,647 high
• Mortgage (P&I): −$577
• Tax from tax record: −$54 /mo · $654/yr
• Insurance: −$46
• HOA: −$445
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $179

Break-even live

Break-even rent $1,420

Max offer price $110,000

Occupancy floor 84%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2190 Forest Knoll Dr NE Unit 90-202 Palm Bay, FL	2.0	2.0	1069	$1,400	$1.31	23d	1	0.07mi
2160 Forest Knoll Dr NE Unit 60-102 Palm Bay, FL	2.0	2.0	1069	$1,350	$1.26	23d	1	0.08mi
1123 Tree Ridge Ln NE Palm Bay, FL	2.0	1.0	870	$1,350	$1.55	23d	1	0.09mi
1701 Forest Knoll Dr NE Palm Bay, FL	2.0–3.0	2.0	1200	$1,499	$1.25	14d	5	0.09mi
2130 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,450	$1.36	23d	1	0.11mi
2100 Forest Knoll Dr NE #202 Palm Bay, FL	2.0	2.0	1069	$1,600	$1.50	14d	1	0.14mi
1265 Ethel Cir NE Palm Bay, FL	3.0	2.0	1346	$1,750	$1.30	14d	1	0.15mi
1264 Dawn St NE Palm Bay, FL	3.0	2.0	1176	$1,950	$1.66	13d	1	0.15mi
3814 Tree Ridge Ln NE Palm Bay, FL	2.0	2.5	1170	$1,500	$1.28	23d	1	0.18mi
1649 Sunny Brook Ln NE Palm Bay, FL	1.0–2.0	1.0–2.0	760	$1,950	$2.57	14d	2	0.21mi
1641 Sunny Brook Ln NE Palm Bay, FL	2.0	2.0	862	$1,500	$1.74	14d	3	0.21mi
1625 Sunny Brook Ln NE Unit G103 Palm Bay, FL	3.0	2.0	914	$1,700	$1.86	23d	1	0.21mi
1601 Sunny Brook Ln NE Unit D101 Palm Bay, FL	2.0	2.0	846	$1,550	$1.83	23d	1	0.21mi
3513 Tree Ridge Ln NE Palm Bay, FL	2.0	2.5	1170	$2,000	$1.71	23d	1	0.23mi
1608 Sunny Brook Ln Palm Bay, FL	1.0–3.0	1.0–2.0	1040	$1,412	$1.36	23d	6	0.29mi
1000 Palm Place Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	884	$2,185	$2.47	21d	8	0.30mi
1656 Sunny Brook Ln NE Unit L102 Palm Bay, FL	3.0	2.0	914	$1,690	$1.85	21d	1	0.38mi
1625 Par St NE Unit 1107 Palm Bay, FL	2.0	2.0	1025	$1,875	$1.83	23d	1	0.48mi
1625 Par St NE Unit 1207 Palm Bay, FL	3.0	2.0	1208	$2,025	$1.68	23d	1	0.48mi
1625 Par St NE Unit 1206 Palm Bay, FL	3.0	2.0	1208	$2,050	$1.70	23d	1	0.48mi
1625 Par St NE Unit 1104 Palm Bay, FL	2.0	2.0	1025	$2,100	$2.05	23d	1	0.48mi
1605 Par St NE Unit 3204 Palm Bay, FL	3.0	2.0	1208	$2,000	$1.66	23d	1	0.51mi
1605 Par St NE Unit 3202 Palm Bay, FL	3.0	2.0	1208	$2,300	$1.90	23d	1	0.51mi
1605 Par St NE Unit 3102 Palm Bay, FL	2.0	2.0	1025	$2,100	$2.05	23d	1	0.51mi
1635 Par St NE Unit 2203 Palm Bay, FL	3.0	2.0	1208	$2,300	$1.90	23d	1	0.53mi
1635 Par St NE Unit 2103 Palm Bay, FL	2.0	2.0	1025	$2,100	$2.05	23d	1	0.53mi
1625 Par St NE Unit 1203 Palm Bay, FL	3.0	2.0	1208	$2,075	$1.72	23d	1	0.53mi
1625 Par St NE Unit 1205 Palm Bay, FL	3.0	2.0	1208	$2,300	$1.90	23d	1	0.53mi
1687 Avery Rd NE Palm Bay, FL	2.0	2.0	876	$1,800	$2.05	23d	1	0.55mi
1311 Cindy Cir NE Palm Bay, FL	2.0	2.0	865	$1,700	$1.97	23d	1	0.66mi
1300 Arlington Ln NE #125 Palm Bay, FL	2.0	2.5	1140	$1,500	$1.32	19d	1	0.77mi
1501 Harvard Cir Melbourne, FL	1.0–3.0	1.0–2.0	1075	$1,765	$1.64	23d	3	0.79mi
1907 Cleveland St NE Palm Bay, FL	3.0	2.0	1320	$1,985	$1.50	23d	1	0.83mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	23d	1	0.88mi
2152 Spring Creek Cir NE Palm Bay, FL	3.0	2.0	1465	$2,249	$1.54	23d	1	0.91mi
1245 Palm Bay Rd Palm Bay, FL	1.0–2.0	1.0–2.0	807	$1,425	$1.76	23d	6	0.93mi
2106 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,900	$1.48	14d	1	0.95mi
890 Luminary Cir #103 Melbourne, FL	3.0	2.0	1277	$1,800	$1.41	13d	1	0.95mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	23d	5	0.96mi
1411 Sheafe Ave NE #102 Palm Bay, FL	2.0	1.0	1156	$1,550	$1.34	23d	1	0.96mi

HOA detail condo

• Monthly dues: $445 · $5,340/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $110,000 Active 112 DOM
2. 2026-06-17
   days on market $110,000 Active 111 DOM
3. 2026-06-16
   days on market $110,000 Active 110 DOM
4. 2026-06-15
   days on market $110,000 Active 109 DOM
5. 2026-06-14
   days on market $110,000 Active 107 DOM
6. 2026-06-10
   days on market $110,000 Active 104 DOM
7. 2026-06-08
   days on market $110,000 Active 102 DOM
8. 2026-06-07
   days on market $110,000 Active 101 DOM
9. 2026-06-05
   days on market $110,000 Active 98 DOM
10. 2026-06-03
    days on market $110,000 Active 97 DOM
11. 2026-06-02
    days on market $110,000 Active 96 DOM
12. 2026-06-01
    days on market $110,000 Active 95 DOM
13. 2026-05-31
    days on market $110,000 Active 94 DOM
14. 2026-05-31
    days on market $110,000 Active 93 DOM
15. 2026-02-25
    listed $110,000 Active
16. 2014-04-30
    soldstatus $25,000
17. 2011-06-24
    soldstatus $11,000 398-char remark

    Show marketing remark (398 chars)

    NOT A SHORT SELL. .. .SOLD AS IS. .. .Conveniently located just south of Palm Bay Rd, this spacious two bedroom two bath condo at an incredible price. Galley kitchen with adjoining dining area. Inside laundry room, large living area. Master bedroom is extra large with double sinks in the bath plus a walk-in closet. The grounds are well cared for and the in ground community pool is crystal clear.

18. 2011-05-18
    listed $16,000 398-char remark

    Show marketing remark (398 chars)

    NOT A SHORT SELL. .. .SOLD AS IS. .. .Conveniently located just south of Palm Bay Rd, this spacious two bedroom two bath condo at an incredible price. Galley kitchen with adjoining dining area. Inside laundry room, large living area. Master bedroom is extra large with double sinks in the bath plus a walk-in closet. The grounds are well cared for and the in ground community pool is crystal clear.

19. 2009-06-23
    soldstatus $18,300

ⓘ 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: $654 · $54/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$259/yr (+$22/mo · 39.6%)

ⓘ 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 · 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: $19,759
• − Mortgage interest: −$6,162
• − Property taxes: −$654
• − Insurance: −$550
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − HOA: −$5,340
• − Depreciation: −$3,200
• Taxable income: $692
• Est. tax owed @ 24.0%: −$166
• After-tax cash flow: $1,978/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

+501.1% since first listed

5 events — show timeline

• 2026-02-25 Listed $110,000 SCMLS
• 2014-04-30 Sold (Public Records) $25,000 Public Records
• 2011-06-24 Sold (MLS) $11,000 SCMLS
• 2011-05-18 Listed $16,000 SCMLS
• 2009-06-23 Sold (Public Records) $18,300 Public Records

Property tax history

+4.0%/yr

Latest (2025): $654 · +1.6% YoY. Source: county tax records.