2411 Treasure Cay Ln · Viera West, FL 32940

$425,000

3 bd · 2.0 ba · 1,576 sqft · SingleFamily public records · 37 Days on market

Built 2021 ↓ 5% since listing

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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).

• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

This beautifully maintained single-family home sits on a peaceful lakefront lot just steps from the private resident-only gate in Bridgewater at Viera. Enjoy worry-free living with a whole-house Generac generator, accordion storm shutters, and tile flooring throughout—no carpet! Relax on the south-facing screened lanai with morning coffee and serene water views. Inside, you'll find 2 bedrooms plus a flex room with glass double doors—ideal as an office or third bedroom. The gourmet kitchen features stainless GE appliances, a quartz island, and upgraded cabinetry with under-cabinet lighting. Tray ceilings elevate the open living area and primary suite, which also boasts a walk-in closet and spa-style bath with walk-in shower and dual vanities. The laundry room includes a washer, dryer, and sink. Located in a 55+ community with a 23,000 sq ft clubhouse, pool, fitness center, pickleball, lawn care, and more—just minutes from shopping, dining, the river, and the beach.

Key facts

• Gated community
• Quartz countertops
• Islanded kitchen

Tags

• LAKEFRONT HOME
• GATED COMMUNITY
• ISLANDED KITCHEN
• QUARTZ COUNTERTOPS
• UPGRADED CABINETS
• UNDER-MOUNT LIGHTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-452 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $345k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (29.6% below list).
• Recommended offer: $299k (29.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#450 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A; Watch: amenities F, commute F, cost of living 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 (+2.0%/yr); 583 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 33% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($3k loan paydown + $2k appreciation (0.4% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,265 (29.6% 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 37 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.70% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.70×
• Total profit: $-36,229
• Equity at exit: $132,044

10-year hold

• IRR: -1.2%
• Equity multiple: 0.86×
• Total profit: $-16,099
• Equity at exit: $165,791

Cash invested: $119,000 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 583
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,993 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$285 /mo · $3,422/yr
• Insurance: −$177
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $-452

Break-even live

Break-even rent $3,565

Max offer price $345,156

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2371 Caravan Pl Melbourne, FL	3.0	2.0	1876	$2,999	$1.60	14d	1	0.43mi
8134 Loren Cove Dr Melbourne, FL	3.0	2.0	1647	$2,900	$1.76	14d	1	0.88mi
8538 Rocard Ct Melbourne, FL	4.0	2.5	2031	$3,495	$1.72	23d	1	0.88mi
9051 Udina Way Melbourne, FL	4.0	2.5	2054	$3,500	$1.70	23d	1	1.07mi
2601 Trasona Dr Melbourne, FL	3.0	2.0	1656	$2,749	$1.66	23d	1	1.10mi
7578 Highsmith Rd Melbourne, FL	1.0–3.0	1.0–2.0	1155	$3,703	$3.20	14d	32	1.21mi
660 Wickham Lakes Dr Melbourne, FL	3.0	2.0	1521	$2,500	$1.64	23d	1	1.27mi

Listing history 21 events

1. 2026-06-18
   days on market $425,000 Active 37 DOM
2. 2026-06-17
   days on market $425,000 Active 36 DOM
3. 2026-06-16
   days on market $425,000 Active 35 DOM
4. 2026-06-15
   days on market $425,000 Active 34 DOM
5. 2026-06-14
   days on market $425,000 Active 32 DOM
6. 2026-06-10
   days on market $425,000 Active 29 DOM
7. 2026-06-08
   days on market $425,000 Active 27 DOM
8. 2026-06-07
   days on market $425,000 Active 26 DOM
9. 2026-06-05
   days on market $425,000 Active 23 DOM
10. 2026-06-03
    days on market $425,000 Active 22 DOM
11. 2026-06-02
    days on market $425,000 Active 21 DOM
12. 2026-06-01
    days on market $425,000 Active 20 DOM
13. 2026-05-31
    days on market $425,000 Active 19 DOM
14. 2026-05-12
    listed $425,000 Active
15. 2025-10-14
    historical 996-char remark

    Show marketing remark (996 chars)

    This beautifully maintained single-family home sits on a peaceful lakefront lot just steps from the private resident-only gate in Bridgewater at Viera. Enjoy worry-free living with a whole-house Generac generator, accordion storm shutters, and tile flooring throughout—no carpet! Relax on the south-facing screened lanai with morning coffee and serene water views. Inside, you'll find 2 bedrooms plus a flex room with glass double doors—ideal as an office or third bedroom. The gourmet kitchen features stainless GE appliances, a quartz island, and upgraded cabinetry with under-cabinet lighting. Tray ceilings elevate the open living area and primary suite, which also boasts a walk-in closet and spa-style bath with walk-in shower and dual vanities. The laundry room includes a washer, dryer, and sink. Located in a 55+ community with a 23,000 sq ft clubhouse, pool, fitness center, pickleball, lawn care, and more—just minutes from shopping, dining, the river, and the beach.

16. 2025-08-01
    listed $430,000 Active 996-char remark

    Show marketing remark (996 chars)

    This beautifully maintained single-family home sits on a peaceful lakefront lot just steps from the private resident-only gate in Bridgewater at Viera. Enjoy worry-free living with a whole-house Generac generator, accordion storm shutters, and tile flooring throughout—no carpet! Relax on the south-facing screened lanai with morning coffee and serene water views. Inside, you'll find 2 bedrooms plus a flex room with glass double doors—ideal as an office or third bedroom. The gourmet kitchen features stainless GE appliances, a quartz island, and upgraded cabinetry with under-cabinet lighting. Tray ceilings elevate the open living area and primary suite, which also boasts a walk-in closet and spa-style bath with walk-in shower and dual vanities. The laundry room includes a washer, dryer, and sink. Located in a 55+ community with a 23,000 sq ft clubhouse, pool, fitness center, pickleball, lawn care, and more—just minutes from shopping, dining, the river, and the beach.

17. 2025-05-08
    historical 1068-char remark

    Show marketing remark (1068 chars)

    Location, location, location - in Bridgewater at Viera! This charming lakefront unattached single family home is just steps from the private homeowner entry & exit gate. With a whole-house Generac generator, accordion storm shutters & tile throughout (no carpet!) It's designed for comfort & peace of mind. Enjoy morning coffee on the popular south facing screened, covered porch while watching the birds & wildlife on the water. This 2 (3)-bed, 2-bath, 2-car garage home features a flex room with glass double doors—perfect as a third bedroom or office. The gourmet kitchen shines with stainless steel GE appliances, a quartz island & quality cabinetry with undermount lighting. Tray ceilings in the family room & primary suite, a walk-in closet & a spa-like bath with a walk-in shower & double vanity. The laundry room includes a washer, dryer plus sink. Located in an active 55+ community with a 23,000 sq ft clubhouse, pool, lawn care, & more—just minutes from shopping, the river & the beach

18. 2025-02-05
    listed $425,000 Active 1068-char remark

    Show marketing remark (1068 chars)

    Location, location, location - in Bridgewater at Viera! This charming lakefront unattached single family home is just steps from the private homeowner entry & exit gate. With a whole-house Generac generator, accordion storm shutters & tile throughout (no carpet!) It's designed for comfort & peace of mind. Enjoy morning coffee on the popular south facing screened, covered porch while watching the birds & wildlife on the water. This 2 (3)-bed, 2-bath, 2-car garage home features a flex room with glass double doors—perfect as a third bedroom or office. The gourmet kitchen shines with stainless steel GE appliances, a quartz island & quality cabinetry with undermount lighting. Tray ceilings in the family room & primary suite, a walk-in closet & a spa-like bath with a walk-in shower & double vanity. The laundry room includes a washer, dryer plus sink. Located in an active 55+ community with a 23,000 sq ft clubhouse, pool, lawn care, & more—just minutes from shopping, the river & the beach

19. 2024-07-12
    historical
20. 2024-05-01
    price $429,000
21. 2024-04-13
    listed $449,000 Active

ⓘ 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: $3,422 · $285/mo
• Projected year-2 tax: $3,528 · $294/mo
• Expected delta: +$106/yr (+$9/mo · 3.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $35,912
• − Mortgage interest: −$23,807
• − Property taxes: −$3,422
• − Insurance: −$3,628
• − Repairs & maintenance: −$2,873
• − Management: −$2,873
• − Depreciation: −$12,364
• Taxable loss: −$13,053
• Est. tax savings @ 24.0%: +$3,133
• After-tax cash flow: $-2,291/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 — Viera West

• Score: 70/100
• State rank: #450
• US rank: #8106

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A Housing A Health & safety D- 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): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-5.3% since first listed

8 events — show timeline

• 2026-05-12 Listed $425,000 FSBO.com
• 2025-10-14 Listing Removed — SCMLS
• 2025-08-01 Listed $430,000 SCMLS
• 2025-05-08 Listing Removed — SCMLS
• 2025-02-05 Listed $425,000 SCMLS
• 2024-07-12 Listing Removed — SCMLS
• 2024-05-01 Price Changed $429,000 SCMLS
• 2024-04-13 Listed $449,000 SCMLS

Property tax history

+31.9%/yr

Latest (2025): $3,422 · +6.7% YoY. Source: county tax records.