3804 Gail Blvd · West Melbourne, FL 32904

$134,900

2 bd · 2.0 ba · 1,100 sqft · Manufactured public records · 154 Days on market

Built 1986 7,405 sqft lot $125/mo HOA · 7% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover comfortable, carefree 55+ living nestled in the desirable Hollywood Estates—a land-owned manufactured home community with no lot rent. Enjoy a low-maintenance lifestyle with access to a community pool, active clubhouse, shuffleboard courts, and regular social events. City water, sewer, and public-maintained roads add to the convenience. Ideally located just minutes from I-95, Melbourne Square Mall, and the Atlantic beaches, with shopping, dining, and public transit close by. A low $124/month HOA makes this an exceptional value in a friendly, well-connected neighborhood.

Key facts

• Active clubhouse
• Shuffleboard courts
• Community pool

Tags

• OVERSIZED LOT
• MATURE TREES
• COMMUNITY POOL
• ACTIVE CLUBHOUSE
• SHUFFLEBOARD COURTS
• CITY WATER

Property features AI

Finance

• HOA & community: HOA with a $125 monthly fee; Senior community

Exterior

• Parking: 2-space carport
• Utilities: Public sewer; Water connected
• Home design: Manufactured home; Faces southwest; Single-story (manufactured home)
• Construction: Frame construction
• Exterior features: Located on a cul-de-sac / dead-end street; Wooded lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#73 in FL, #1,214 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: commute D+, amenities 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.
• Zoned schools: Meadowlane Primary Elementary School (650 students, 47% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents soft (-0.3%/yr); 304 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $933 of loan paydown is wiped out by about $4k 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 154 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $39k; list at $135k implies a 246% 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 $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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 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: 1.35% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.26%
• DSCR: 1.72
• GRM: 6.2

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: 3.9%
• Equity multiple: 1.14×
• Total profit: $5,432
• Equity at exit: $20,114

10-year hold

• IRR: 10.3%
• Equity multiple: 1.69×
• Total profit: $26,225
• Equity at exit: $11,664

Cash invested: $37,772 (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 32904

• Rents YoY: -0.3%
• Active inventory: 304
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,815 high
• Mortgage (P&I): −$707
• Tax from tax record: −$34 /mo · $403/yr
• Insurance: −$56
• HOA: −$125
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $512

Break-even live

Break-even rent $1,167

Max offer price $134,900

Occupancy floor 67%

Sensitivity live

Price	-10% $588	-5% $550	+0% $512	+5% $474	+10% $435
Rent	-10% $368	-5% $440	+0% $512	+5% $583	+10% $655
Rate	-1.0pp $580	-0.5pp $546	base $512	+0.5pp $477	+1.0pp $441

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Jennifer Cir Melbourne, FL	2.0	2.0	828	$1,600	$1.93	24d	1	0.17mi
3020 Mary St Melbourne, FL	3.0	1.0	1072	$2,095	$1.95	24d	1	0.44mi
4850 Sutton Ave Melbourne, FL	3.0	2.0	1166	$1,850	$1.59	15d	1	0.51mi
760 John Adams Ln Melbourne, FL	3.0	2.0	1288	$1,950	$1.51	24d	1	0.57mi
49 Piney Branch Way Unit A Melbourne, FL	2.0	2.5	1288	$1,600	$1.24	15d	1	0.67mi
135 NW Shannon Ave West Melbourne, FL	2.0	2.0	900	$1,850	$2.06	20d	1	0.74mi
126 San Paulo Cir Unit 1-126 Melbourne, FL	1.0	1.0	792	$1,275	$1.61	24d	1	0.89mi
127 San Paulo Cir Unit 1-127 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	24d	1	0.94mi
164 San Paulo Ct Unit 5-164 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	24d	1	0.96mi
101 San Paulo Cir Unit 14-101 Melbourne, FL	2.0	2.0	1220	$1,500	$1.23	15d	1	0.97mi
223 San Paulo Cir Unit 8-223 Melbourne, FL	2.0	2.0	1080	$1,500	$1.39	24d	1	1.03mi
356 Vesta Cir Melbourne, FL	2.0	1.0	814	$1,900	$2.33	24d	1	1.14mi
300 Amherst Ave Melbourne, FL	3.0	2.0	1353	$2,050	$1.52	15d	1	1.17mi
212 Dubber Rd Melbourne, FL	3.0	2.0	1230	$2,000	$1.63	24d	1	1.18mi
4850 Heritage Lakes BLVD West Melbourne, FL	1.0–3.0	1.0–2.5	1018	$2,070	$2.03	15d	119	1.19mi
2900 Vassar St Melbourne, FL	3.0	2.0	1316	$1,925	$1.46	15d	1	1.20mi
309 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,700	$1.86	22d	1	1.27mi
300 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,850	$2.03	24d	1	1.30mi
21 Rosevere Way Melbourne, FL	3.0	2.0	1467	$1,900	$1.30	15d	1	1.36mi
1921 Park Ave Melbourne, FL	3.0	1.0	900	$1,775	$1.97	24d	1	1.37mi
208 Seminole Ave W Unit 1 Melbourne, FL	2.0	1.0	966	$2,900	$3.00	24d	1	1.46mi

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: watersewerpool

Listing history 11 events

1. 2026-06-03
   status $134,900 Pending 154 DOM
2. 2026-05-31
   days on market $134,900 Active Under Contract 154 DOM
3. 2026-05-31
   days on market $134,900 Active Under Contract 153 DOM
4. 2026-05-20
   historical Active Under Contract
5. 2025-12-28
   listed $134,900 Active
6. 2025-12-25
   historical 591-char remark

   Show marketing remark (591 chars)

   Discover comfortable, carefree 55+ living nestled in the desirable Hollywood Estates—a land-owned manufactured home community with no lot rent. Enjoy a low-maintenance lifestyle with access to a community pool, active clubhouse, shuffleboard courts, and regular social events. City water, sewer, and public-maintained roads add to the convenience. Ideally located just minutes from I-95, Melbourne Square Mall, and the Atlantic beaches, with shopping, dining, and public transit close by. A low $124/month HOA makes this an exceptional value in a friendly, well-connected neighborhood.

7. 2025-11-25
   price $139,000 591-char remark

   Show marketing remark (591 chars)

   Discover comfortable, carefree 55+ living nestled in the desirable Hollywood Estates—a land-owned manufactured home community with no lot rent. Enjoy a low-maintenance lifestyle with access to a community pool, active clubhouse, shuffleboard courts, and regular social events. City water, sewer, and public-maintained roads add to the convenience. Ideally located just minutes from I-95, Melbourne Square Mall, and the Atlantic beaches, with shopping, dining, and public transit close by. A low $124/month HOA makes this an exceptional value in a friendly, well-connected neighborhood.

8. 2025-07-14
   listed $155,000 Active 591-char remark

   Show marketing remark (591 chars)

   Discover comfortable, carefree 55+ living nestled in the desirable Hollywood Estates—a land-owned manufactured home community with no lot rent. Enjoy a low-maintenance lifestyle with access to a community pool, active clubhouse, shuffleboard courts, and regular social events. City water, sewer, and public-maintained roads add to the convenience. Ideally located just minutes from I-95, Melbourne Square Mall, and the Atlantic beaches, with shopping, dining, and public transit close by. A low $124/month HOA makes this an exceptional value in a friendly, well-connected neighborhood.

9. 2013-01-23
   soldstatus $39,000 176-char remark

   Show marketing remark (176 chars)

   2 Bedroom 2 Bath 1100 Sq Ft. of living space in 55+ Community. Screened porch, vaulted ceilings, walk in closet, large storage shed and carport. Great location. Priced to sell!

10. 2012-02-17
    listed $42,900 176-char remark

    Show marketing remark (176 chars)

    2 Bedroom 2 Bath 1100 Sq Ft. of living space in 55+ Community. Screened porch, vaulted ceilings, walk in closet, large storage shed and carport. Great location. Priced to sell!

11. 1986-04-01
    soldstatus $10,500

ⓘ 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: $403 · $34/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$716/yr (+$60/mo · 177.6%)

ⓘ 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 ≥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: $21,781
• − Mortgage interest: −$7,556
• − Property taxes: −$403
• − Insurance: −$674
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − HOA: −$1,500
• − Depreciation: −$3,924
• Taxable income: $4,238
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $5,123/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 — West Melbourne

• Score: 82/100
• State rank: #73
• US rank: #1214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Melbourne, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 37,241
• Household income: $90,673
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 597.0

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% Hispanic / Latino 14% Two or more races 10% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Chinese 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: ▼ -195.98%
• Current HPI: 304.2546
• Rent YoY: ▼ -0.32%
• 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

+1184.8% since first listed

8 events — show timeline

• 2026-05-20 Contingent — SCMLS
• 2025-12-28 Listed $134,900 SCMLS
• 2025-12-25 Listing Removed — SCMLS
• 2025-11-25 Price Changed $139,000 SCMLS
• 2025-07-14 Listed $155,000 SCMLS
• 2013-01-23 Sold (MLS) $39,000 SCMLS
• 2012-02-17 Listed $42,900 SCMLS
• 1986-04-01 Sold (Public Records) $10,500 Public Records

Property tax history

+2.8%/yr

Latest (2025): $403 · +14.3% YoY. Source: county tax records.