205 Hickory Ave · Merritt Island, FL 32953

$299,000

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 143 Days on market

Built 1966 10,019 sqft lot ↓ 8% since listing

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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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This solid 3bed/2bath concrete block home offers an excellent opportunity to update and personalize to your taste. Major improvements have already been completed in the last three years, including a new roof, A/C system, electrical panel, water heater and garage door. Excellent location near Publix, shopping center, schools and restaurants. Enjoy convenient access to Orlando Int'l Airport (40 mins), only 10 mins to the beach and 25 minutes from Kennedy Space Center. The large backyard offers plenty of space for a pool, outdoor entertaining or parking a boat. This property is perfect as a primary residence or a great rental investment opportunity. Schedule your showing today!

Key facts

• Upgraded garage door
• Plenty of parking
• Upgraded roof

Tags

• CORNER LOT
• PLENTY OF PARKING
• UPGRADED ROOF
• UPGRADED WATER HEATER
• UPGRADED ELECTRICAL PANEL
• UPGRADED GARAGE DOOR

Property features AI

Finance

• Other: Pets allowed; Unfurnished

Exterior

• Parking: Attached carport; Garage; 2 garage spaces; 2 carport spaces
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single-family residence; One story; Faces northeast
• Construction: Block and concrete construction; Shingle roof
• Exterior features: Covered screened patio; Patio; Wood fencing (fenced yard); Shed(s); Corner lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fan(s); Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry located in garage; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $44 ($528/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (11.4% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Mila Elementary School (math 37% / reading 46%, grade F, #1,437 of 2,144 statewide, top 68%, 433 students, 70% 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).
• Market conditions: Rents rising (+2.1%/yr); 221 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 36% of the median local income ($87k/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 $9k 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 143 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; list at $299k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 9.4

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: -16.3%
• Equity multiple: 0.43×
• Total profit: $-47,946
• Equity at exit: $44,582

10-year hold

• IRR: -9.6%
• Equity multiple: 0.43×
• Total profit: $-47,400
• Equity at exit: $25,852

Cash invested: $83,720 (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: 221
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,649 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$290 /mo · $3,478/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $44

Break-even live

Break-even rent $2,593

Max offer price $299,000

Occupancy floor 93%

Sensitivity live

Price	-10% $213	-5% $129	+0% $44	+5% $-41	+10% $-125
Rent	-10% $-165	-5% $-61	+0% $44	+5% $149	+10% $253
Rate	-1.0pp $195	-0.5pp $120	base $44	+0.5pp $-34	+1.0pp $-112

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1795 Dogwood Dr Merritt Island, FL	3.0	2.0	1762	$3,500	$1.99	16d	1	0.13mi
10 Bogart Pl Merritt Island, FL	3.0	2.5	1376	$2,350	$1.71	25d	1	0.17mi
295 Spruce Ave Unit 1526854P Merritt Island, FL	3.0	2.0	1506	$4,370	$2.90	21d	1	0.22mi
295 Spruce Ave Merritt Island, FL	3.0	2.0	1514	$3,500	$2.31	25d	1	0.22mi
48 Bogart Pl Merritt Island, FL	2.0	1.5	1184	$1,800	$1.52	25d	1	0.23mi
43 Bogart Pl Merritt Island, FL	2.0	1.5	1172	$1,875	$1.60	25d	1	0.24mi
360 Schoolhouse Ln Merritt Island, FL	3.0	2.0	953	$1,500	$1.57	25d	1	0.30mi
1527 Schoolhouse St Unit A3 Merritt Island, FL	2.0	1.0	1695	$1,350	$0.80	25d	1	0.39mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	16d	1	0.57mi
1155 N Courtenay Pkwy Merritt Island, FL	2.0	1.0	750	$1,434	$1.91	25d	1	0.81mi
100 Summer Pl #8 Merritt Island, FL	2.0	2.0	1037	$2,500	$2.41	25d	1	0.91mi
437 Via Palermo Ct Merritt Island, FL	3.0	2.0	1375	$2,175	$1.58	25d	1	1.10mi
2610 Via Napoli Ct Merritt Island, FL	3.0	2.0	1123	$2,400	$2.14	16d	1	1.12mi
165 Tiki Dr Merritt Island, FL	3.0	2.0	1795	$2,875	$1.60	25d	1	1.16mi
650 Parkside Ave Merritt Island, FL	2.0	2.0	1390	$1,950	$1.40	25d	1	1.18mi
104 Parrotfish Ln #101 Merritt Island, FL	3.0	2.5	1487	$2,750	$1.85	25d	1	1.24mi
800 1st St Merritt Island, FL	3.0	2.0	1529	$2,800	$1.83	25d	1	1.31mi
215 Richland Ave Unit 1044313P Merritt Island, FL	3.0	2.0	1184	$4,648	$3.93	16d	1	1.47mi

Listing history 27 events

1. 2026-06-22
   days on market $299,000 Active 143 DOM
2. 2026-06-18
   days on market $299,000 Active 140 DOM
3. 2026-06-17
   days on market $299,000 Active 139 DOM
4. 2026-06-16
   days on market $299,000 Active 138 DOM
5. 2026-06-15
   days on market $299,000 Active 137 DOM
6. 2026-06-14
   days on market $299,000 Active 135 DOM
7. 2026-06-10
   days on market $299,000 Active 132 DOM
8. 2026-06-08
   days on market $299,000 Active 130 DOM
9. 2026-06-07
   days on market $299,000 Active 129 DOM
10. 2026-06-05
    days on market $299,000 Active 126 DOM
11. 2026-06-03
    days on market $299,000 Active 125 DOM
12. 2026-06-02
    days on market $299,000 Active 124 DOM
13. 2026-06-01
    days on market $299,000 Active 123 DOM
14. 2026-05-31
    days on market $299,000 Active 122 DOM
15. 2026-05-31
    pricedays on market $299,000 Active 121 DOM
16. 2026-04-04
    status Active
17. 2026-03-22
    historical Active Under Contract
18. 2026-01-29
    listed $315,000 Active
19. 2025-12-31
    historical 683-char remark

    Show marketing remark (683 chars)

    This solid 3bed/2bath concrete block home offers an excellent opportunity to update and personalize to your taste. Major improvements have already been completed in the last three years, including a new roof, A/C system, electrical panel, water heater and garage door. Excellent location near Publix, shopping center, schools and restaurants. Enjoy convenient access to Orlando Int'l Airport (40 mins), only 10 mins to the beach and 25 minutes from Kennedy Space Center. The large backyard offers plenty of space for a pool, outdoor entertaining or parking a boat. This property is perfect as a primary residence or a great rental investment opportunity. Schedule your showing today!

20. 2025-07-15
    price $332,000 683-char remark

    Show marketing remark (683 chars)

    This solid 3bed/2bath concrete block home offers an excellent opportunity to update and personalize to your taste. Major improvements have already been completed in the last three years, including a new roof, A/C system, electrical panel, water heater and garage door. Excellent location near Publix, shopping center, schools and restaurants. Enjoy convenient access to Orlando Int'l Airport (40 mins), only 10 mins to the beach and 25 minutes from Kennedy Space Center. The large backyard offers plenty of space for a pool, outdoor entertaining or parking a boat. This property is perfect as a primary residence or a great rental investment opportunity. Schedule your showing today!

21. 2025-06-27
    listed $338,000 Active 683-char remark

    Show marketing remark (683 chars)

    This solid 3bed/2bath concrete block home offers an excellent opportunity to update and personalize to your taste. Major improvements have already been completed in the last three years, including a new roof, A/C system, electrical panel, water heater and garage door. Excellent location near Publix, shopping center, schools and restaurants. Enjoy convenient access to Orlando Int'l Airport (40 mins), only 10 mins to the beach and 25 minutes from Kennedy Space Center. The large backyard offers plenty of space for a pool, outdoor entertaining or parking a boat. This property is perfect as a primary residence or a great rental investment opportunity. Schedule your showing today!

22. 2007-03-19
    soldstatus $170,000
23. 2007-03-14
    soldstatus $170,000 310-char remark

    Show marketing remark (310 chars)

    Cozy Central Merritt Island 3 bedroom, 2 bath home on a corner lot in quiet neighborhood. Extremely clean and very well cared for home that needs some updating. This home is begging for a new owner! It sports a 2 car garage AND a 1 car carport, perfect for a boat. Walk to Publix, shopping centers and schools.

24. 2007-01-25
    listed $179,000 310-char remark

    Show marketing remark (310 chars)

    Cozy Central Merritt Island 3 bedroom, 2 bath home on a corner lot in quiet neighborhood. Extremely clean and very well cared for home that needs some updating. This home is begging for a new owner! It sports a 2 car garage AND a 1 car carport, perfect for a boat. Walk to Publix, shopping centers and schools.

25. 1985-01-01
    soldstatus $64,000
26. 1979-09-01
    soldstatus $47,500
27. 1978-05-01
    soldstatus $343,000

ⓘ 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: $3,478 · $290/mo
• Projected year-2 tax: $3,478 · $290/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $31,790
• − Mortgage interest: −$16,749
• − Property taxes: −$3,478
• − Insurance: −$2,292
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − Depreciation: −$8,698
• Taxable loss: −$4,514
• Est. tax savings @ 24.0%: +$1,083
• After-tax cash flow: $1,611/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment A- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• 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

-8.2% since first listed

12 events — show timeline

• 2026-04-04 Relisted — SCMLS
• 2026-03-22 Contingent — SCMLS
• 2026-01-29 Listed $315,000 SCMLS
• 2025-12-31 Listing Removed — SCMLS
• 2025-07-15 Price Changed $332,000 SCMLS
• 2025-06-27 Listed $338,000 SCMLS
• 2007-03-19 Sold (Public Records) $170,000 Public Records
• 2007-03-14 Sold (MLS) $170,000 SCMLS
• 2007-01-25 Listed $179,000 SCMLS
• 1985-01-01 Sold (Public Records) $64,000 Public Records
• 1979-09-01 Sold (Public Records) $47,500 Public Records
• 1978-05-01 Sold (Public Records) $343,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $3,478 · +4.7% YoY. Source: county tax records.