3494 Hyperion Way SE · Palm Bay, FL 32909

$284,900

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 29 Days on market

Built 2007 7,841 sqft lot $340/mo HOA · 15% 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 +8.4/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks

Accepting backup contracts. Don't miss this gem in the Beautiful Lakes at Waterstone! Watch the Sunset over the Lake from the private screened Lanai and enjoy our refreshing coastal breezes. Quality constructed by DiVosta, the home design and upgrades here make this home a Must See. Solid concrete walls and spacious layout with Volume Ceilings, recessed lighting and loads of natural light. Bonus room has French Doors and has many possibilities. Large bedrooms w/ walk-in closets. Bathrooms are upgraded with Marble counters, Under-cabinet Lighting and ceramic tile showers. 2nd bedroom and bath has a Privacy door for en-suite option. Open Kitchen has Corian Counters, Tile backsplash, updated a

Key facts

• Marble counters
• Bonus room
• Walk in closets

Tags

• PRIVATE SCREENED LANAI
• BONUS ROOM
• WALK IN CLOSETS
• MARBLE COUNTERS
• UNDER CABINET LIGHTING
• CERAMIC TILE SHOWERS

Property features AI

Finance

• HOA & community: Community association (AR Choice) with monthly fee; Association amenities include clubhouse, fitness center, barbecue, pickleball, tennis courts and cable TV; Association fee billed monthly and includes grounds maintenance and security

Exterior

• Parking: Attached garage (2 spaces)
• Security: Gated community; Security system (owned)
• Utilities: Underground electric; Public sewer; Water connected; Cable available; Electricity connected; Sewer connected
• Home design: Single-family residence; One level; Northeast-facing
• Construction: Block, concrete and stucco construction; Concrete and tile roof; Pets allowed with limits
• Exterior features: Covered, screened rear porch; Porch; Storm shutters; Cul-de-sac lot; Asphalt road frontage (city/county streets); Lakefront

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Microwave; Refrigerator; Ice maker
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile; Vinyl; Wood; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Central vacuum; Split bedroom layout; Vaulted ceilings; Walk-in closets; 5 total rooms (including living, dining, bonus)
• Laundry & utility: Washer and dryer included; In-unit laundry with utility sink; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-254 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (19.9% below list).
• Recommended offer: $228k (19.9% 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); 1123 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% 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 $30k of equity ($2k loan paydown + $28k 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 ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $172k; list at $285k implies a 66% 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; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,204 (19.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.80% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 10.4

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: 21.8%
• Equity multiple: 2.76×
• Total profit: $140,618
• Equity at exit: $256,660

10-year hold

• IRR: 19.8%
• Equity multiple: 6.39×
• Total profit: $430,228
• Equity at exit: $553,498

Cash invested: $79,772 (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: 1123
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,282 high
• Mortgage (P&I): −$1,494
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$119
• HOA: −$340
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $-254

Break-even live

Break-even rent $2,604

Max offer price $240,013

Occupancy floor —

Sensitivity live

Price	-10% $-93	-5% $-173	+0% $-254	+5% $-335	+10% $-415
Rent	-10% $-434	-5% $-344	+0% $-254	+5% $-164	+10% $-74
Rate	-1.0pp $-111	-0.5pp $-182	base $-254	+0.5pp $-328	+1.0pp $-403

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	21d	1	0.13mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	15d	1	0.21mi
1394 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1876	$2,500	$1.33	21d	1	0.23mi
1434 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1600	$2,000	$1.25	15d	1	0.26mi
1063 Grantham Ln SE Palm Bay, FL	3.0	2.0	1515	$2,000	$1.32	25d	1	0.28mi
1783 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2207	$2,100	$0.95	25d	1	0.40mi
1496 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2187	$2,440	$1.12	16d	1	0.43mi
1566 Criswell Ln SE Palm Bay, FL	4.0	2.0	2046	$2,400	$1.17	25d	1	0.46mi
1884 Middlebury Dr SE Palm Bay, FL	3.0	2.0	1761	$2,000	$1.14	25d	1	0.65mi
1843 Middlebury Dr SE Palm Bay, FL	4.0	2.0	1822	$2,200	$1.21	25d	1	0.69mi
1453 Santa Anna St SE Palm Bay, FL	3.0	2.0	1994	$2,500	$1.25	16d	1	0.69mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	25d	1	0.72mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	25d	1	1.04mi
2073 Farmhouse Rd SE Palm Bay, FL	4.0	2.0	1830	$2,133	$1.17	25d	1	1.07mi
2183 Farmhouse Rd SE Palm Bay, FL	3.0	2.0	1676	$2,000	$1.19	25d	1	1.17mi
2877 Palisades Dr SE Palm Bay, FL	3.0	2.0	1974	$2,150	$1.09	21d	1	1.19mi
3219 Hainsworth Ave SE Palm Bay, FL	3.0	2.0	1219	$2,100	$1.72	16d	1	1.42mi

HOA detail

• Monthly dues: $340 · $4,080/yr
• Likely covers: water

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-03-31
   listed $284,900 Active
3. 2009-02-20
   soldstatus $172,000

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $2,365 · $197/mo
• Expected delta: +$1,115/yr (+$93/mo · 89.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 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: $27,384
• − Mortgage interest: −$15,959
• − Property taxes: −$1,250
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,191
• − Management: −$2,191
• − HOA: −$4,080
• − Depreciation: −$8,288
• Taxable loss: −$7,998
• Est. tax savings @ 24.0%: +$1,920
• After-tax cash flow: $-1,130/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

+65.6% since first listed

3 events — show timeline

• 2026-04-29 Pending — SCMLS
• 2026-03-31 Listed $284,900 SCMLS
• 2009-02-20 Sold (Public Records) $172,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,250 · +4.0% YoY. Source: county tax records.