268 Melba Ave NW · Palm Bay, FL 32907

$229,990

3 bd · 1.0 ba · 875 sqft · SingleFamily public records · 68 Days on market

Built 1984 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).

• Cash flow +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.7/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to a well-maintained, move-in-ready property designed for easy, low-maintenance living. This 2-bedroom, 1-bath home offers an open floor plan with vinyl plank flooring throughout, creating a comfortable and functional space for everyday life. Major updates are already in place, including a brand new roof in 2025, hurricane shutters, and an AC, septic, and water heater that are all in good condition. The bathroom has been updated and recently resealed, and the washer and dryer are included for added convenience. Situated on an oversized lot with a durable stucco exterior, the home provides room to enjoy without the upkeep. Ideally located near shopping, dining, and local schools, this property is a great option for those seeking a well-cared-for home in a convenient location. Easy living starts here.

Key facts

• Open floor plan
• Hurricane shutters
• Good condition ac

Tags

• OPEN FLOOR PLAN
• VINYL PLANK FLOORING
• NEW ROOF
• HURRICANE SHUTTERS
• GOOD CONDITION AC
• GOOD CONDITION SEPTIC

Property features AI

Finance

• Other: Living area reported as 875; Lot size approximately 0.23 acres; Private pool: no
• Financial info: No investor or income/expense details provided

Exterior

• Parking: Attached garage; 1-car garage
• Utilities: Septic system; Electricity connected; Water connected
• Home design: Single family residence; Faces east
• Construction: Frame and stucco construction
• Exterior features: Cleared lot

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Open floor plan
• Laundry & utility: Washer; Dryer; Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $79 ($952/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 $206k (10.4% below list).
• Recommended offer: $206k (10.4% 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: Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL).
• Zoned-school proficiency averages 43% 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 flat; 739 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 33% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k 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 68 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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

• 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 $206,091 (10.4% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.90% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-36,415
• Equity at exit: $34,292

10-year hold

• IRR: -12.0%
• Equity multiple: 0.35×
• Total profit: $-41,734
• Equity at exit: $19,885

Cash invested: $64,397 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 739
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,061 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$247 /mo · $2,962/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $79

Break-even live

Break-even rent $1,960

Max offer price $229,990

Occupancy floor 91%

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: $57,498
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
890 Serenade St NW Palm Bay, FL	3.0	2.0	901	$1,850	$2.05	23d	1	0.77mi
2127 Jupiter Blvd SW Palm Bay, FL	3.0	2.0	1104	$1,885	$1.71	23d	1	1.08mi
403 Tillman Ave SW Palm Bay, FL	3.0	2.0	1056	$1,750	$1.66	21d	1	1.13mi

Listing history 30 events

1. 2026-06-18
   days on market $229,990 Active 68 DOM
2. 2026-06-17
   days on market $229,990 Active 67 DOM
3. 2026-06-16
   days on market $229,990 Active 66 DOM
4. 2026-06-15
   days on market $229,990 Active 65 DOM
5. 2026-06-14
   days on market $229,990 Active 63 DOM
6. 2026-06-10
   days on market $229,990 Active 60 DOM
7. 2026-06-08
   days on market $229,990 Active 58 DOM
8. 2026-06-07
   days on market $229,990 Active 57 DOM
9. 2026-06-05
   days on market $229,990 Active 54 DOM
10. 2026-06-03
    days on market $229,990 Active 53 DOM
11. 2026-06-02
    days on market $229,990 Active 52 DOM
12. 2026-06-01
    days on market $229,990 Active 51 DOM
13. 2026-05-31
    days on market $229,990 Active 50 DOM
14. 2026-05-31
    days on market $229,990 Active 49 DOM
15. 2026-04-11
    listed $229,990 Active
16. 2026-04-08
    historical 823-char remark

    Show marketing remark (823 chars)

    Welcome home to a well-maintained, move-in-ready property designed for easy, low-maintenance living. This 2-bedroom, 1-bath home offers an open floor plan with vinyl plank flooring throughout, creating a comfortable and functional space for everyday life. Major updates are already in place, including a brand new roof in 2025, hurricane shutters, and an AC, septic, and water heater that are all in good condition. The bathroom has been updated and recently resealed, and the washer and dryer are included for added convenience. Situated on an oversized lot with a durable stucco exterior, the home provides room to enjoy without the upkeep. Ideally located near shopping, dining, and local schools, this property is a great option for those seeking a well-cared-for home in a convenient location. Easy living starts here.

17. 2026-03-14
    price $229,990 823-char remark

    Show marketing remark (823 chars)

    Welcome home to a well-maintained, move-in-ready property designed for easy, low-maintenance living. This 2-bedroom, 1-bath home offers an open floor plan with vinyl plank flooring throughout, creating a comfortable and functional space for everyday life. Major updates are already in place, including a brand new roof in 2025, hurricane shutters, and an AC, septic, and water heater that are all in good condition. The bathroom has been updated and recently resealed, and the washer and dryer are included for added convenience. Situated on an oversized lot with a durable stucco exterior, the home provides room to enjoy without the upkeep. Ideally located near shopping, dining, and local schools, this property is a great option for those seeking a well-cared-for home in a convenient location. Easy living starts here.

18. 2025-12-26
    listed $235,000 Active 823-char remark

    Show marketing remark (823 chars)

    Welcome home to a well-maintained, move-in-ready property designed for easy, low-maintenance living. This 2-bedroom, 1-bath home offers an open floor plan with vinyl plank flooring throughout, creating a comfortable and functional space for everyday life. Major updates are already in place, including a brand new roof in 2025, hurricane shutters, and an AC, septic, and water heater that are all in good condition. The bathroom has been updated and recently resealed, and the washer and dryer are included for added convenience. Situated on an oversized lot with a durable stucco exterior, the home provides room to enjoy without the upkeep. Ideally located near shopping, dining, and local schools, this property is a great option for those seeking a well-cared-for home in a convenient location. Easy living starts here.

19. 2022-07-06
    soldstatus $220,000
20. 2022-06-29
    soldstatus $220,000 Closed 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

21. 2022-06-16
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

22. 2022-05-31
    historical Contingent 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

23. 2022-05-25
    status Active 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

24. 2022-05-17
    historical 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

25. 2022-05-16
    status Active 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

26. 2022-05-11
    historical Contingent 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

27. 2022-05-07
    listed $220,000 Active 324-char remark

    Show marketing remark (324 chars)

    Freshly remodeled 2bed/1 bath home on a conveniently located, quiet street. Fresh paint throughout, new kitchen cabinets, new bathroom vanity, and highly desirable brand new vinyl plank flooring throughout are just some of the upgrades in this must-see home with a large, open backyard with the added privacy of a greenbelt!

28. 2004-03-15
    soldstatus $58,000
29. 1989-04-01
    soldstatus $50,600
30. 1988-06-01
    soldstatus $50,200

ⓘ 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: $2,962 · $247/mo
• Projected year-2 tax: $2,962 · $247/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 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: $24,731
• − Mortgage interest: −$12,883
• − Property taxes: −$2,962
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − Depreciation: −$6,691
• Taxable loss: −$2,912
• Est. tax savings @ 24.0%: +$699
• After-tax cash flow: $1,651/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

+358.1% since first listed

16 events — show timeline

• 2026-04-11 Listed $229,990 SCMLS
• 2026-04-08 Listing Removed — SCMLS
• 2026-03-14 Price Changed $229,990 SCMLS
• 2025-12-26 Listed $235,000 SCMLS
• 2022-07-06 Sold (Public Records) $220,000 Public Records
• 2022-06-29 Sold (MLS) $220,000 SCMLS
• 2022-06-16 Pending — SCMLS
• 2022-05-31 Contingent — SCMLS
• 2022-05-25 Relisted — SCMLS
• 2022-05-17 Listing Removed — SCMLS
• 2022-05-16 Relisted — SCMLS
• 2022-05-11 Contingent — SCMLS
• 2022-05-07 Listed $220,000 SCMLS
• 2004-03-15 Sold (Public Records) $58,000 Public Records
• 1989-04-01 Sold (Public Records) $50,600 Public Records
• 1988-06-01 Sold (Public Records) $50,200 Public Records

Property tax history

+11.3%/yr

Latest (2025): $2,962 · +8.3% YoY. Source: county tax records.