241 SE Bali St St SE · Palm Bay, FL 32909

$436,949

4 bd · 3.0 ba · 2,350 sqft · Land · 41 Days on market

Built 2026 10,019 sqft 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Cash flow +4.4/30.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Discover Aspire at Palm Bay, where stunning new-construction single-family homes in Palm Bay, FL, meet the ultimate freedom of HOA-free living. Imagine spacious floorplans with 4 bedrooms, 2-3 bathrooms, and up to 2,350 sq. ft. , all thoughtfully designed to give you the space and comfort you deserve. Each home showcases K. Hovnanian's exclusive Looks - a meticulously curated collection of stylish interior design options, professionally designed to elevate your everyday. Choose from three distinct home design styles: the versatile and modern Elements Look, the open and airy Loft Look, or the cozy and charming Farmhouse Look. Offered By: K. Hovnanian Aspire at Palm Bay, LLC The Aegean ESP offers: Extra Suite Plus, perfect for multigenerational families. Charming kitchen with gray cabinetry & chef-worthy island. Open concept living areas create the perfect space for entertaining guests. Secluded primary suite & private bath. Spa-like primary bath with glass shower enclosure & walk-in closet. Covered patio off the dining area for outdoor meals. Attached 3-car garage provides ample parking space. Impact glass throughout the home for enhanced durability & storm protection.

Key facts

• Impact glass windows
• City water
• No hoa fees

Tags

• CITY WATER
• CITY SEWER
• NO HOA FEES
• PLANK PORCELAIN TILE FLOORING
• IMPACT GLASS WINDOWS
• GRAY CABINETRY

Property features AI

Finance

• Other: Living area reported as 2,350 (plans list total building area as 2,948)

Exterior

• Parking: Attached garage with 3 covered spaces; Concrete driveway; Garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Electricity connected; Sewer connected; Water available
• Home design: Single-family residence; One story; New construction; Faces north
• Construction: Concrete construction; Shingle roof; Built by K. Hovnanian Homes (Aegean ESP model)
• Exterior features: Open patio; Patio; Landscaped yard; Publicly maintained road; Not waterfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; ENERGY STAR qualified refrigerator; Refrigerator
• Bedrooms: 4 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 3 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Kitchen island; Walk-in closets; Double-pane windows; Storm windows; Smoke detectors
• Laundry & utility: Interior laundry room on the main level; Electric water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $437k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (45.6% below list).
• Recommended offer: $238k (45.6% 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: W. Melbourne Elementary School For Science (math 88% / reading 86%, grade A+, #24 of 2,144 statewide, top 1%, 549 students, 18% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising (+3.7%/yr); 1123 active listings in the ZIP; 12 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).
• This rent runs 36% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $47k of equity ($3k loan paydown + $44k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($424k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $50k; list at $437k implies a 774% 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,671 (45.6% 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 41 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.54% ✗
• Cap rate: 3.16%
• Cash-on-cash: -11.20%
• DSCR: 0.50
• GRM: 15.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 2.36×
• Total profit: $166,885
• Equity at exit: $393,638

10-year hold

• IRR: 15.9%
• Equity multiple: 5.51×
• Total profit: $552,084
• Equity at exit: $848,896

Cash invested: $122,346 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1123
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $2,377 high
• Mortgage (P&I): −$2,291
• Tax est. 1.5%: −$546 /mo · $6,554/yr
• Insurance: −$182
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-1,142

Break-even live

Break-even rent $3,822

Max offer price $271,692

Occupancy floor —

Sensitivity live

Price	-10% $-840	-5% $-991	+0% $-1,142	+5% $-1,293	+10% $-1,444
Rent	-10% $-1,330	-5% $-1,236	+0% $-1,142	+5% $-1,048	+10% $-954
Rate	-1.0pp $-922	-0.5pp $-1,031	base $-1,142	+0.5pp $-1,255	+1.0pp $-1,370

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: $109,237
• Closing costs: $13,108
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	16d	1	0.09mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	0.62mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	25d	1	0.66mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	21d	1	1.16mi
647 Airoso Rd SE Palm Bay, FL	4.0	3.0	2365	$2,900	$1.23	15d	1	1.17mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	25d	1	1.18mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	25d	1	1.20mi
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	25d	1	1.22mi
296 Croquet Ave NE Palm Bay, FL	4.0	2.0	2028	$2,300	$1.13	23d	1	1.34mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	15d	1	1.38mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	16d	1	1.39mi
210 Meehan Ave NW Palm Bay, FL	3.0	2.0	2020	$1,895	$0.94	16d	1	1.43mi

Listing history 17 events

1. 2026-06-16
   statusdays on market $436,949 Pending 41 DOM
2. 2026-06-15
   days on market $436,949 Active 40 DOM
3. 2026-06-14
   days on market $436,949 Active 38 DOM
4. 2026-06-10
   days on market $436,949 Active 35 DOM
5. 2026-06-08
   days on market $436,949 Active 33 DOM
6. 2026-06-07
   days on market $436,949 Active 32 DOM
7. 2026-06-05
   days on market $436,949 Active 29 DOM
8. 2026-06-03
   days on market $436,949 Active 28 DOM
9. 2026-06-02
   days on market $436,949 Active 27 DOM
10. 2026-06-01
    days on market $436,949 Active 26 DOM
11. 2026-05-31
    days on market $436,949 Active 25 DOM
12. 2026-05-31
    days on market $436,949 Active 24 DOM
13. 2026-05-06
    listed $436,949 Active
14. 2026-05-02
    price $436,949 1211-char remark

    Show marketing remark (1211 chars)

    Discover Aspire at Palm Bay, where stunning new-construction single-family homes in Palm Bay, FL, meet the ultimate freedom of HOA-free living. Imagine spacious floorplans with 4 bedrooms, 2-3 bathrooms, and up to 2,350 sq. ft. , all thoughtfully designed to give you the space and comfort you deserve. Each home showcases K. Hovnanian's exclusive Looks - a meticulously curated collection of stylish interior design options, professionally designed to elevate your everyday. Choose from three distinct home design styles: the versatile and modern Elements Look, the open and airy Loft Look, or the cozy and charming Farmhouse Look. Offered By: K. Hovnanian Aspire at Palm Bay, LLC The Aegean ESP offers: Extra Suite Plus, perfect for multigenerational families. Charming kitchen with gray cabinetry & chef-worthy island. Open concept living areas create the perfect space for entertaining guests. Secluded primary suite & private bath. Spa-like primary bath with glass shower enclosure & walk-in closet. Covered patio off the dining area for outdoor meals. Attached 3-car garage provides ample parking space. Impact glass throughout the home for enhanced durability & storm protection.

15. 2026-04-15
    price $458,949 1211-char remark

    Show marketing remark (1211 chars)

    Discover Aspire at Palm Bay, where stunning new-construction single-family homes in Palm Bay, FL, meet the ultimate freedom of HOA-free living. Imagine spacious floorplans with 4 bedrooms, 2-3 bathrooms, and up to 2,350 sq. ft. , all thoughtfully designed to give you the space and comfort you deserve. Each home showcases K. Hovnanian's exclusive Looks - a meticulously curated collection of stylish interior design options, professionally designed to elevate your everyday. Choose from three distinct home design styles: the versatile and modern Elements Look, the open and airy Loft Look, or the cozy and charming Farmhouse Look. Offered By: K. Hovnanian Aspire at Palm Bay, LLC The Aegean ESP offers: Extra Suite Plus, perfect for multigenerational families. Charming kitchen with gray cabinetry & chef-worthy island. Open concept living areas create the perfect space for entertaining guests. Secluded primary suite & private bath. Spa-like primary bath with glass shower enclosure & walk-in closet. Covered patio off the dining area for outdoor meals. Attached 3-car garage provides ample parking space. Impact glass throughout the home for enhanced durability & storm protection.

16. 2026-03-22
    listed $468,949 Active 1211-char remark

    Show marketing remark (1211 chars)

    Discover Aspire at Palm Bay, where stunning new-construction single-family homes in Palm Bay, FL, meet the ultimate freedom of HOA-free living. Imagine spacious floorplans with 4 bedrooms, 2-3 bathrooms, and up to 2,350 sq. ft. , all thoughtfully designed to give you the space and comfort you deserve. Each home showcases K. Hovnanian's exclusive Looks - a meticulously curated collection of stylish interior design options, professionally designed to elevate your everyday. Choose from three distinct home design styles: the versatile and modern Elements Look, the open and airy Loft Look, or the cozy and charming Farmhouse Look. Offered By: K. Hovnanian Aspire at Palm Bay, LLC The Aegean ESP offers: Extra Suite Plus, perfect for multigenerational families. Charming kitchen with gray cabinetry & chef-worthy island. Open concept living areas create the perfect space for entertaining guests. Secluded primary suite & private bath. Spa-like primary bath with glass shower enclosure & walk-in closet. Covered patio off the dining area for outdoor meals. Attached 3-car garage provides ample parking space. Impact glass throughout the home for enhanced durability & storm protection.

17. 2025-12-11
    soldstatus $50,000

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 22 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: $28,521
• − Mortgage interest: −$24,476
• − Property taxes: −$6,554
• − Insurance: −$2,185
• − Repairs & maintenance: −$2,282
• − Management: −$2,282
• − Depreciation: −$12,711
• Taxable loss: −$21,969
• Est. tax savings @ 24.0%: +$5,273
• After-tax cash flow: $-8,432/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+773.9% since first listed

5 events — show timeline

• 2026-05-06 Listed $436,949 Beaches MLS
• 2026-05-02 Price Changed $436,949 Zillow
• 2026-04-15 Price Changed $458,949 Zillow
• 2026-03-22 Listed $468,949 Zillow
• 2025-12-11 Sold (Public Records) $50,000 Public Records

Property tax history

+12.9%/yr

Latest (2025): $433 · +13.6% YoY. Source: county tax records.