2513 Lipscomb St · Melbourne, FL 32901

$177,500

2 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 46 Days on market

Built 1930 7,841 sqft lot

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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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +4.7/10.0
• 1% rule +4.5/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

Key facts

• 7,841 sq ft lot
• Built 1930
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/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 $168k (5.4% below list).
• Recommended offer: $168k (5.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+1.7%/yr); 202 active listings in the ZIP; 23 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 37% of the median local income ($55k/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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $178k implies a 294% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $167,960 (5.4% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-13,927
• Equity at exit: $26,466

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $881
• Equity at exit: $15,347

Cash invested: $49,700 (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 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$931
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $268

Break-even live

Break-even rent $1,340

Max offer price $177,500

Occupancy floor 79%

Sensitivity live

Price	-10% $369	-5% $318	+0% $268	+5% $218	+10% $168
Rent	-10% $136	-5% $202	+0% $268	+5% $335	+10% $401
Rate	-1.0pp $358	-0.5pp $313	base $268	+0.5pp $222	+1.0pp $175

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Brothers Ave Unit 101 Melbourne, FL	1.0	1.0	700	$1,445	$2.06	24d	1	0.11mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	24d	1	0.60mi
635 E New Haven Ave Melbourne, FL	1.0–2.0	1.0–2.0	899	$2,700	$3.00	24d	1	0.62mi
603 E New Haven Ave Melbourne, FL	1.0	1.0	1118	$1,575	$1.41	14d	1	0.66mi
2700 Carlson Cir Melbourne, FL	1.0–2.0	1.0–2.0	879	$1,242	$1.41	24d	1	0.71mi
512 E Strawbridge Ave Melbourne, FL	3.0	1.0	1487	$2,400	$1.61	21d	1	0.79mi
248 E University Blvd Melbourne, FL	1.0–2.0	1.0	720	$1,449	$2.01	14d	5	0.82mi
533 E Lincoln Ave Melbourne, FL	2.0	1.0	796	$1,800	$2.26	24d	1	0.82mi
3101 Wiley Ave Melbourne, FL	3.0	2.0	1185	$1,499	$1.26	24d	1	0.83mi
343 Talbot St Melbourne, FL	3.0	2.0	1355	$1,699	$1.25	24d	1	0.88mi
3008 Hanson Ave Melbourne, FL	1.0	1.0	840	$1,125	$1.34	24d	1	1.03mi
100 E University Blvd Melbourne, FL	1.0–3.0	1.0–1.5	756	$1,437	$1.90	14d	16	1.04mi
1914 Fletcher St Melbourne, FL	2.0	2.0	907	$1,700	$1.87	24d	1	1.13mi
21 Rosevere Way Melbourne, FL	3.0	2.0	1467	$1,900	$1.30	14d	1	1.14mi
3151 S Babcock St Melbourne, FL	1.0–2.0	1.0–2.0	807	$1,595	$1.98	14d	10	1.17mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	1.24mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	14d	33	1.30mi
300 Amherst Ave Melbourne, FL	3.0	2.0	1353	$2,050	$1.52	14d	1	1.38mi
212 Dubber Rd Melbourne, FL	3.0	2.0	1230	$2,000	$1.63	24d	1	1.39mi
1921 Park Ave Melbourne, FL	3.0	1.0	900	$1,775	$1.97	24d	1	1.40mi
2900 Vassar St Melbourne, FL	3.0	2.0	1316	$1,925	$1.46	14d	1	1.42mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	14d	47	1.44mi
300 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,850	$2.03	24d	1	1.50mi

Listing history 26 events

1. 2026-04-13
   status Pending 821-char remark

   Show marketing remark (821 chars)

   Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

2. 2026-04-13
   status Pending

   Show marketing remark (821 chars)

   Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

3. 2026-04-08
   price $177,500 821-char remark

   Show marketing remark (821 chars)

   Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

4. 2026-04-08
   price $177,500

   Show marketing remark (821 chars)

   Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

5. 2026-03-11
   historical $1,475
6. 2026-02-26
   listed $187,500 Active
7. 2026-02-25
   listed $187,500 Active 821-char remark

   Show marketing remark (821 chars)

   Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.

8. 2025-12-16
   listed $1,475
9. 2025-12-16
   historical $1,400
10. 2025-10-17
    price $1,400
11. 2025-10-09
    price $1,475
12. 2025-09-04
    price $1,550
13. 2025-08-15
    price $1,600
14. 2025-08-05
    price $1,700
15. 2025-07-04
    listed $1,750
16. 2023-10-02
    historical
17. 2023-10-02
    historical
18. 2023-10-02
    historical
19. 2023-07-25
    price $89,000
20. 2023-07-25
    price $89,000
21. 2023-07-25
    price $89,000
22. 2023-07-14
    listed $79,000 Active
23. 2023-07-14
    listed $79,000 Active
24. 2023-07-14
    listed $79,000 Active
25. 2022-05-18
    soldstatus $45,000
26. 2012-10-25
    soldstatus $20,000

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $1,473 · $123/mo
• Expected delta: +$827/yr (+$69/mo · 127.8%)

ⓘ 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 ≥105°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: $20,155
• − Mortgage interest: −$9,943
• − Property taxes: −$647
• − Insurance: −$888
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$5,164
• Taxable income: $290
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $3,149/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

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 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 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: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• 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

+787.5% since first listed

26 events — show timeline

• 2026-04-13 Pending — SCMLS
• 2026-04-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $177,500 SCMLS
• 2026-04-08 Price Changed $177,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Rental Removed $1,475 BUILDIUM
• 2026-02-26 Listed $187,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Listed $187,500 SCMLS
• 2025-12-16 Listed for Rent $1,475 BUILDIUM
• 2025-12-16 Rental Removed $1,400 SCMLS
• 2025-10-17 Price Changed $1,400 SCMLS
• 2025-10-09 Price Changed $1,475 SCMLS
• 2025-09-04 Price Changed $1,550 SCMLS
• 2025-08-15 Price Changed $1,600 SCMLS
• 2025-08-05 Price Changed $1,700 SCMLS
• 2025-07-04 Listed for Rent $1,750 SCMLS
• 2023-10-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-10-02 Listing Removed — realMLS
• 2023-10-02 Listing Removed — Beaches MLS
• 2023-07-25 Price Changed $89,000 realMLS
• 2023-07-25 Price Changed $89,000 Beaches MLS
• 2023-07-25 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-14 Listed $79,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-14 Listed $79,000 realMLS
• 2023-07-14 Listed $79,000 Beaches MLS
• 2022-05-18 Sold (Public Records) $45,000 Public Records
• 2012-10-25 Sold (Public Records) $20,000 Public Records

Property tax history

+1.1%/yr

Latest (2023): $647 · -22.5% YoY. Source: county tax records.