1165 King St · Tropical Park, FL 32953

$278,900

3 bd · 2.0 ba · 1,050 sqft · SingleFamily public records · 127 Days on market

Built 1965 7,841 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.7/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly renovated home has NEW 42''real wood Kitchen Cabinets and Granite Countertops. NEW Carpeting in the bedrooms. NEW Roof. NEW Plumbing and Light Fixtures. Also New are the Baseboards and Tile Floors. 4th bedroom has an attached sitting room with French doors leading to the living area. Extra parking for an R. V. and a large backyard with room for expansion.

Key facts

• Hardwood flooring
• Versatile den
• Ceiling fans

Tags

• GRANITE COUNTERTOPS
• HARDWOOD FLOORING
• CEILING FANS
• VERSATILE DEN
• LARGE BACKYARD
• OUTDOOR SHED

Property features AI

Exterior

• Parking: Attached carport (1 space)
• Utilities: Public sewer; Cable available; Electricity available
• Home design: Single family residence; One story; Faces east
• Construction: Concrete construction; Shingle roof
• Exterior features: Wood fencing

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (27.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (34.7% below list).
• Recommended offer: $182k (34.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — 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: Audubon Elementary School (math 55% / reading 57%, grade C+, #832 of 2,144 statewide, top 40%, 450 students, 58% 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 45% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 219 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 127 days — a 12% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $115k; list at $279k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $182,212 (34.7% 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 127 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.61%
• DSCR: 0.75
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.05×
• Total profit: $-74,277
• Equity at exit: $41,585

10-year hold

• IRR: -32.1%
• Equity multiple: -0.36×
• Total profit: $-106,536
• Equity at exit: $24,114

Cash invested: $78,092 (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 32953

• Home prices YoY: -34.5%
• Rents YoY: 2.1%
• Active inventory: 219
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,822 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$226 /mo · $2,708/yr
• Insurance: −$116
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-431

Break-even live

Break-even rent $2,368

Max offer price $202,691

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: $69,725
• Closing costs: $8,367
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 Ligustrum Ln Merritt Island, FL	1.0–2.0	1.0	640	$1,275	$1.99	19d	1	0.18mi
1155 N Courtenay Pkwy Merritt Island, FL	2.0	1.0	750	$1,434	$1.91	23d	1	0.21mi
360 Schoolhouse Ln Merritt Island, FL	3.0	2.0	953	$1,500	$1.57	23d	1	0.63mi
140 Minna Ln Merritt Island, FL	2.0	1.0	775	$1,250	$1.61	14d	1	0.74mi
10 Bogart Pl Merritt Island, FL	3.0	2.5	1376	$2,350	$1.71	23d	1	0.75mi
43 Bogart Pl Merritt Island, FL	2.0	1.5	1172	$1,875	$1.60	23d	1	0.77mi
48 Bogart Pl Merritt Island, FL	2.0	1.5	1184	$1,800	$1.52	23d	1	0.80mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	14d	1	0.81mi
50 Needle Blvd #28 Merritt Island, FL	2.0	1.5	900	$1,550	$1.72	23d	1	0.92mi
215 Richland Ave Unit 1044313P Merritt Island, FL	3.0	2.0	1184	$4,648	$3.93	14d	1	0.93mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,545	$1.72	14d	2	0.96mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,525	$1.69	23d	2	0.96mi
145 Needle Blvd Merritt Island, FL	4.0	2.0	1314	$3,250	$2.47	23d	1	1.04mi
388 Hibiscus Ave Merritt Island, FL	2.0	1.0	720	$1,650	$2.29	23d	1	1.15mi
140 McLeod St Unit 1513829P Merritt Island, FL	3.0	2.0	1323	$3,291	$2.49	19d	1	1.33mi
205 Palmetto Ave Merritt Island, FL	2.0	2.0	1033	$1,625	$1.57	23d	2	1.43mi

Listing history 26 events

1. 2026-06-18
   days on market $278,900 Active 127 DOM
2. 2026-06-17
   days on market $278,900 Active 126 DOM
3. 2026-06-16
   days on market $278,900 Active 125 DOM
4. 2026-06-15
   days on market $278,900 Active 124 DOM
5. 2026-06-14
   days on market $278,900 Active 122 DOM
6. 2026-06-10
   days on market $278,900 Active 119 DOM
7. 2026-06-08
   days on market $278,900 Active 117 DOM
8. 2026-06-07
   days on market $278,900 Active 116 DOM
9. 2026-06-05
   days on market $278,900 Active 113 DOM
10. 2026-06-03
    days on market $278,900 Active 112 DOM
11. 2026-06-02
    days on market $278,900 Active 111 DOM
12. 2026-06-01
    days on market $278,900 Active 110 DOM
13. 2026-05-31
    days on market $278,900 Active 109 DOM
14. 2026-05-31
    days on market $278,900 Active 108 DOM
15. 2026-05-23
    status Pending
16. 2026-05-21
    price $278,900
17. 2026-04-30
    price $279,900
18. 2026-04-16
    price $280,000
19. 2026-02-13
    price $285,000
20. 2026-02-05
    listed $289,000 Active
21. 2016-05-02
    soldstatus $115,000
22. 2016-04-29
    soldstatus $115,000 363-char remark

    Show marketing remark (363 chars)

    Newly renovated home has NEW 42''real wood Kitchen Cabinets and Granite Countertops. NEW Carpeting in the bedrooms. NEW Roof. NEW Plumbing and Light Fixtures. Also New are the Baseboards and Tile Floors. 4th bedroom has an attached sitting room with French doors leading to the living area. Extra parking for an R. V. and a large backyard with room for expansion.

23. 2015-10-31
    listed $115,000 363-char remark

    Show marketing remark (363 chars)

    Newly renovated home has NEW 42''real wood Kitchen Cabinets and Granite Countertops. NEW Carpeting in the bedrooms. NEW Roof. NEW Plumbing and Light Fixtures. Also New are the Baseboards and Tile Floors. 4th bedroom has an attached sitting room with French doors leading to the living area. Extra parking for an R. V. and a large backyard with room for expansion.

24. 2015-07-13
    soldstatus $45,100 536-char remark

    Show marketing remark (536 chars)

    Handyman Special three bedroom home has an open floor plan, large kitchen with eating space, tile and laminate flooring and the master has a private bath. Situated on a large lot with lovely Oak trees. All Information recorded in the MLS is intended to be accurate but cannot be guaranteed, buyer advised to verify. Sold As-Is. No utilities will be turned on to this property and only cash offers with 0 day inspection period will be considered. Buyer should perform their due diligence/necessary inspections before submitting an offer.

25. 2015-06-18
    listed $39,900 536-char remark

    Show marketing remark (536 chars)

    Handyman Special three bedroom home has an open floor plan, large kitchen with eating space, tile and laminate flooring and the master has a private bath. Situated on a large lot with lovely Oak trees. All Information recorded in the MLS is intended to be accurate but cannot be guaranteed, buyer advised to verify. Sold As-Is. No utilities will be turned on to this property and only cash offers with 0 day inspection period will be considered. Buyer should perform their due diligence/necessary inspections before submitting an offer.

26. 2000-10-25
    soldstatus $53,000

ⓘ 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: $2,708 · $226/mo
• Projected year-2 tax: $2,708 · $226/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 8/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $21,865
• − Mortgage interest: −$15,623
• − Property taxes: −$2,708
• − Insurance: −$2,192
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$8,113
• Taxable loss: −$10,269
• Est. tax savings @ 24.0%: +$2,464
• After-tax cash flow: $-2,712/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 — Tropical Park

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

Census & demographics

• Census place: Tropical Park, FL
• County: Brevard County · 602,871 people
• City population: 24,834
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,759
• Household income: $87,262
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 849.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 2% 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: ▼ -168.76%
• Current HPI: 320.1966
• Rent YoY: ▲ 2.12%
• 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

+426.2% since first listed

12 events — show timeline

• 2026-05-23 Pending — SCMLS
• 2026-05-21 Price Changed $278,900 SCMLS
• 2026-04-30 Price Changed $279,900 SCMLS
• 2026-04-16 Price Changed $280,000 SCMLS
• 2026-02-13 Price Changed $285,000 SCMLS
• 2026-02-05 Listed $289,000 SCMLS
• 2016-05-02 Sold (Public Records) $115,000 Public Records
• 2016-04-29 Sold (MLS) $115,000 SCMLS
• 2015-10-31 Listed $115,000 SCMLS
• 2015-07-13 Sold (MLS) $45,100 SCMLS
• 2015-06-18 Listed $39,900 SCMLS
• 2000-10-25 Sold (Public Records) $53,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,708 · +0.2% YoY. Source: county tax records.