1524 Garabaldi Cir SE · Palm Bay, FL 32909

$395,935

5 bd · 3.0 ba · 2,077 sqft · Land · 45 Days on market

Built 2026 6,970 sqft lot $34/mo HOA · 1% of rent

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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
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0

Listing remarks

The Lakeside floorplan at Cypress Bay West is where smart design meets effortless living. With 5 bedrooms, 3 bathrooms, and 2,077 square feet of thoughtfully crafted space, this home offers the perfect blend of comfort, functionality, and style—ideal for families, guests, and everything in between. As you enter, you're greeted by two bedrooms and a full bath—perfect for guests, a home office, or a playroom. Continue inside and you'll find the heart of the home: a spacious kitchen featuring a large island with built-in sink, ample counter space, and a generous walk-in pantry that makes meal prep and entertaining a breeze. The kitchen flows seamlessly into the open-concept great r

Key facts

• Spacious kitchen
• Large island
• Large walk-in closet

Tags

• SPACIOUS KITCHEN
• LARGE ISLAND
• WALK-IN PANTRY
• OPEN-CONCEPT GREAT ROOM
• PRIVATE PRIMARY SUITE
• LARGE WALK-IN CLOSET

Property features AI

Finance

• Other: Lot features listed as 'Other' on a 0.16-acre lot
• HOA & community: Has association (Access Management); Clubhouse; Pickleball; Playground; Association fee: $20.50 monthly; Additional association fee: $14.00 monthly

Exterior

• Parking: Garage; 2-car garage
• Security: Smoke detector(s)
• Utilities: Public sewer; Cable available; Electricity available; Sewer available; Water available
• Home design: Single family residence; Faces southwest; New construction
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Patio; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Electric cooling; Has heating and cooling
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Open floor plan; Pantry; Primary bathroom with shower (no tub); Smart thermostat
• Laundry & utility: Unfurnished (no built-in laundry info provided)

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $396k.

Deal economics

• At list price, monthly cash flow is $-481 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (35.7% below list).
• Recommended offer: $255k (35.7% 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: Sunrise Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 759 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 1111 active listings in the ZIP; 13 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 38% 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 $42k of equity ($3k loan paydown + $40k 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 ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($384k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,669 (35.7% 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 45 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.64% ✗
• Cap rate: 4.84%
• Cash-on-cash: -5.20%
• DSCR: 0.77
• GRM: 13.0

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $186,634
• Equity at exit: $356,690

10-year hold

• IRR: 19.0%
• Equity multiple: 6.21×
• Total profit: $577,070
• Equity at exit: $769,215

Cash invested: $110,862 (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: 1111
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,547 high
• Mortgage (P&I): −$2,076
• Tax from tax record: −$217 /mo · $2,608/yr
• Insurance: −$165
• HOA: −$34
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-481

Break-even live

Break-even rent $3,155

Max offer price $311,009

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: $98,984
• Closing costs: $11,878
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1434 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1600	$2,000	$1.25	13d	1	0.03mi
1394 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1876	$2,500	$1.33	19d	1	0.05mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	19d	1	0.19mi
1566 Criswell Ln SE Palm Bay, FL	4.0	2.0	2046	$2,400	$1.17	23d	1	0.20mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	13d	1	0.22mi
3517 Rixford Way SE Palm Bay, FL	4.0	3.0	2562	$2,800	$1.09	23d	1	0.41mi
1783 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2207	$2,100	$0.95	23d	1	0.42mi
1843 Middlebury Dr SE Palm Bay, FL	4.0	2.0	1822	$2,200	$1.21	23d	1	0.50mi
1046 Grantham Ln SE Palm Bay, FL	4.0	2.5	2405	$3,100	$1.29	23d	1	0.53mi
1496 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2187	$2,440	$1.12	14d	1	0.55mi
2073 Farmhouse Rd SE Palm Bay, FL	4.0	2.0	1830	$2,133	$1.17	23d	1	0.93mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	23d	1	0.96mi
3004 Suntan Ct SE Palm Bay, FL	4.0	2.0	2388	$2,900	$1.21	23d	1	1.12mi

HOA detail

• Monthly dues: $34 · $408/yr

Listing history 16 events

1. 2026-06-18
   days on market $395,935 Active 45 DOM
2. 2026-06-17
   days on market $395,935 Active 44 DOM
3. 2026-06-16
   days on market $395,935 Active 43 DOM
4. 2026-06-15
   days on market $395,935 Active 42 DOM
5. 2026-06-14
   days on market $395,935 Active 40 DOM
6. 2026-06-10
   days on market $395,935 Active 37 DOM
7. 2026-06-08
   days on market $395,935 Active 35 DOM
8. 2026-06-07
   days on market $395,935 Active 34 DOM
9. 2026-06-05
   days on market $395,935 Active 31 DOM
10. 2026-06-03
    days on market $395,935 Active 30 DOM
11. 2026-06-02
    days on market $395,935 Active 29 DOM
12. 2026-06-01
    days on market $395,935 Active 28 DOM
13. 2026-05-31
    days on market $395,935 Active 27 DOM
14. 2026-05-31
    days on market $395,935 Active 26 DOM
15. 2026-05-04
    listed $395,935 Active
16. 2025-09-10
    soldstatus $2,534,500

ⓘ 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: $2,608 · $217/mo
• Projected year-2 tax: $3,286 · $274/mo
• Expected delta: +$678/yr (+$57/mo · 26.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 17 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: $30,560
• − Mortgage interest: −$22,179
• − Property taxes: −$2,608
• − Insurance: −$1,980
• − Repairs & maintenance: −$2,445
• − Management: −$2,445
• − HOA: −$408
• − Depreciation: −$11,518
• Taxable loss: −$13,022
• Est. tax savings @ 24.0%: +$3,125
• After-tax cash flow: $-2,644/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

-84.4% since first listed

2 events — show timeline

• 2026-05-04 Listed $395,935 SCMLS
• 2025-09-10 Sold (Public Records) $2,534,500 Public Records

Property tax history

+10.6%/yr

Latest (2025): $2,608 · +10.6% YoY. Source: county tax records.