511 Jean Cir · West Melbourne, FL 32904

$90,000

2 bd · 1.0 ba · 966 sqft · Manufactured public records · 41 Days on market

Built 1977 5,227 sqft lot $126/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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

HUGE PRICE IMPROVEMENT! EXCELLENT INVESTMENT OPPORTUNITY Value priced home in Hollywood Estates where YOU OWN THE LAND! No lot rent and low monthly maintenence fees. The home will need some TLC but is perfect for retirees and /or snowbirds! Enjoy the Florida lifestyle with a community pool, clubhouse and lots of activities.

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Association: T&W Management; Monthly association fee applies; Additional voluntary fee; Community amenities include clubhouse and shuffleboard court; Senior community

Exterior

• Parking: 2-space carport
• Utilities: Public sewer; Cable available; Electricity available
• Home design: Manufactured home; Faces west; Single-story
• Construction: Aluminum siding; Metal roof
• Exterior features: Other lot features

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Pets allowed; Negotiable furnishings
• Laundry & utility: Washer and dryer; Laundry located in carport

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% 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; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $90k implies a 114% 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 $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.94% ✓
• Cap rate: 15.99%
• Cash-on-cash: 34.63%
• DSCR: 2.54
• GRM: 4.3

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: 26.6%
• Equity multiple: 2.06×
• Total profit: $26,659
• Equity at exit: $13,419

10-year hold

• IRR: 32.3%
• Equity multiple: 3.51×
• Total profit: $63,236
• Equity at exit: $7,782

Cash invested: $25,200 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$472
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$38
• HOA: −$126
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $727

Break-even live

Break-even rent $829

Max offer price $90,000

Occupancy floor 53%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Jennifer Cir Melbourne, FL	2.0	2.0	828	$1,600	$1.93	23d	1	0.35mi
4850 Heritage Lakes BLVD West Melbourne, FL	1.0–3.0	1.0–2.5	1018	$2,070	$2.03	13d	119	0.69mi
3020 Mary St Melbourne, FL	3.0	1.0	1072	$2,095	$1.95	23d	1	0.89mi
135 NW Shannon Ave West Melbourne, FL	2.0	2.0	900	$1,850	$2.06	18d	1	1.07mi
2114 Nebula Way West Melbourne, FL	1.0–2.0	1.0–2.0	982	$2,031	$2.07	13d	15	1.10mi
122 Laurel Oak St West Melbourne, FL	2.0	1.0	1008	$1,450	$1.44	23d	1	1.19mi
126 San Paulo Cir Unit 1-126 Melbourne, FL	1.0	1.0	792	$1,275	$1.61	23d	1	1.22mi
127 San Paulo Cir Unit 1-127 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	23d	1	1.27mi
164 San Paulo Ct Unit 5-164 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	23d	1	1.28mi
223 San Paulo Cir Unit 8-223 Melbourne, FL	2.0	2.0	1080	$1,500	$1.39	23d	1	1.35mi

HOA detail

• Monthly dues: $126 · $1,512/yr
• Likely covers: pool

Listing history 18 events

1. 2026-06-18
   days on market $90,000 Active 41 DOM
2. 2026-06-17
   days on market $90,000 Active 40 DOM
3. 2026-06-16
   days on market $90,000 Active 39 DOM
4. 2026-06-15
   days on market $90,000 Active 38 DOM
5. 2026-06-14
   days on market $90,000 Active 36 DOM
6. 2026-06-10
   days on market $90,000 Active 33 DOM
7. 2026-06-08
   days on market $90,000 Active 31 DOM
8. 2026-06-07
   days on market $90,000 Active 30 DOM
9. 2026-06-05
   days on market $90,000 Active 27 DOM
10. 2026-06-03
    days on market $90,000 Active 26 DOM
11. 2026-06-02
    statusdays on market $90,000 Active 25 DOM
12. 2026-06-01
    days on market $90,000 Active Under Contract 24 DOM
13. 2026-05-31
    days on market $90,000 Active Under Contract 23 DOM
14. 2026-05-31
    days on market $90,000 Active Under Contract 22 DOM
15. 2026-05-23
    price $90,000
16. 2026-05-08
    listed $105,000 Active
17. 1997-06-09
    soldstatus $42,000
18. 1977-08-01
    soldstatus $6,000

ⓘ 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: $233 · $19/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$514/yr (+$43/mo · 220.3%)

ⓘ 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: $20,996
• − Mortgage interest: −$5,041
• − Property taxes: −$233
• − Insurance: −$450
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − HOA: −$1,512
• − Depreciation: −$2,618
• Taxable income: $7,782
• Est. tax owed @ 24.0%: −$1,868
• After-tax cash flow: $6,860/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

+1400.0% since first listed

4 events — show timeline

• 2026-05-23 Price Changed $90,000 SCMLS
• 2026-05-08 Listed $105,000 SCMLS
• 1997-06-09 Sold (Public Records) $42,000 Public Records
• 1977-08-01 Sold (Public Records) $6,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $233 · +23.4% YoY. Source: county tax records.