302 Basswood Ct · Cocoa West, FL 32926

$175,000

2 bd · 2.0 ba · 1,480 sqft · Manufactured public records · 6 Days on market

Built 1991 0.53 ac lot $115/mo HOA · 6% 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OWNER FINANCING AVAILABLE WITH 20% DOWN. SPECTACULAR LAKEFRONT VIEW - EXCEPTIONAL VALUE IN 55+ COMMUNITY. This 2 bed/2 bath home has it all. Enjoy water views from your wrap around deck, private boat slip & dock. You can even have a boat with an electric motor & fish to your hearts content. Other features include indoor screened patio, big living room overlooking the water, dining area, & kitchen with breakfast bar. You are not just buying your home in this community, you a buying a lifestyle!

Key facts

• Covered porch
• Waterfront oasis
• Private dock

Tags

• WATERFRONT OASIS
• EXPANSIVE WRAPAROUND DECK
• PRIVATE DOCK
• BOAT SLIP
• COVERED PORCH
• CARPORT

Property features AI

Finance

• Other: Total acreage approximately 0.53 acres
• Financial info: Lease restrictions apply
• HOA & community: Has HOA (Forest Lake of Cocoa); Monthly HOA $115; HOA covers ground maintenance, pool, and security; Community amenities: clubhouse, pool, shuffleboard court, deed restrictions, golf carts allowed; Senior community; Pets allowed (cats and dogs)

Exterior

• Parking: Carport (2 spaces)
• Security: Community security
• Utilities: Public water; Public sewer; Cable available and connected; Electricity available and connected
• Home design: Manufactured home (double wide), attached; Single-story; South-facing; Completed condition
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built in 1 building (double wide)
• Exterior features: Storage; Shed(s); Corner lot; Asphalt road frontage; Pond waterfront with 50 ft. frontage; Fishing pier and seawall (other) listed as water extras

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Wet bar
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

Location & tenants

• Location reads 69/100 on livability (#481 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools F, amenities F, commute F.
• 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.
• Market conditions: Rents rising fast (+5.6%/yr); 291 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 32% of the median local income ($71k/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 $5k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $80k; list at $175k implies a 119% 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; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,438
• Equity at exit: $26,093

10-year hold

• IRR: 9.5%
• Equity multiple: 1.82×
• Total profit: $40,046
• Equity at exit: $15,131

Cash invested: $49,000 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 291
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$73
• HOA: −$115
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $281

Break-even live

Break-even rent $1,509

Max offer price $175,000

Occupancy floor 80%

Sensitivity live

Price	-10% $380	-5% $331	+0% $281	+5% $231	+10% $182
Rent	-10% $134	-5% $207	+0% $281	+5% $355	+10% $428
Rate	-1.0pp $369	-0.5pp $326	base $281	+0.5pp $236	+1.0pp $190

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 A Ln Cocoa, FL	3.0	1.0	1500	$1,800	$1.20	24d	1	0.50mi
3782 Catalina Dr Cocoa, FL	3.0	2.0	1404	$2,075	$1.48	24d	1	0.88mi
4164 Fishermans Pl Cocoa, FL	2.0	2.0	1200	$1,625	$1.35	24d	1	1.36mi

HOA detail

• Monthly dues: $115 · $1,380/yr
• Likely covers: waterelectric

Listing history 6 events

1. 2026-06-18
   days on market $175,000 Active 6 DOM
2. 2026-06-17
   days on market $175,000 Active 5 DOM
3. 2026-06-16
   days on market $175,000 Active 4 DOM
4. 2026-06-15
   days on market $175,000 Active 3 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $175,000 Active 1 DOM

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$413/yr (+$34/mo · 39.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 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: $22,379
• − Mortgage interest: −$9,803
• − Property taxes: −$1,040
• − Insurance: −$875
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − HOA: −$1,380
• − Depreciation: −$5,091
• Taxable income: $610
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $3,226/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 — Cocoa West

• Score: 69/100
• State rank: #481
• US rank: #8792

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 23,505
• Household income: $70,735
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 782.0

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 (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% German/W. Germanic 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: ▼ -68.32%
• Current HPI: 335.1251
• Rent YoY: ▲ 5.60%
• 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

+157.4% since first listed

5 events — show timeline

• 2026-06-12 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2013-04-15 Sold (MLS) $80,000 SCMLS
• 2011-11-10 Listed $84,500 SCMLS
• 2004-11-24 Sold (Public Records) $100,000 Public Records
• 2000-02-02 Sold (Public Records) $68,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $1,040 · +8.5% YoY. Source: county tax records.