189 Woodsmill Blvd · Cocoa, FL 32926

$225,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 147 Days on market

Built 2003 8,712 sqft lot $250/mo HOA · 11% of rent ↓ 10% since listing

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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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +5.1/10.0
• Schools +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3-bedroom home located in the highly sought-after 55+ Lost Lakes community. Recent updates include updated strapping and stabilizers under the home, a metal roof (2018), new hot water heater, microwave, dishwasher, and brand new stacked washer and dryer. The gas stove is powered by a propane tank conveniently located out back. While the A/C is not new, it is professionally serviced every six months. The home offers both a cozy bistro dining area and a formal dining room, plus a metal ramp for easy access. Storm shutters are stored neatly in the storage shed. Lost Lakes residents enjoy pickleball, shuffleboard, scenic lake views, a workout room, full kitchen, library, and an

Key facts

• Propane tank
• Metal roof
• Formal dining room

Tags

• METAL ROOF
• HOT WATER HEATER
• PROPANE TANK
• BISTRO DINING AREA
• FORMAL DINING ROOM
• STORM SHUTTERS

Property features AI

Finance

• Other: Partially furnished; Senior community
• HOA & community: Part of Northwest Lakes COA; Monthly association fee of $250; Association amenities include barbecue, boat dock, clubhouse, fitness center, gated entry, grounds maintenance, pickleball, RV/boat storage, security, shuffleboard court, and spa/hot tub; Association fee includes cable TV, internet, grounds maintenance, pest control, and security

Exterior

• Parking: Attached carport (1 space); RV access/parking
• Security: Gated community; Security gate
• Utilities: Public sewer; Water connected; Electricity connected; Cable connected; Propane available; Sewer connected
• Home design: Manufactured home; One story; Faces south
• Construction: Vinyl siding; Metal roof
• Exterior features: Storm shutters; Shed(s); Sprinklers front and rear; Private asphalt road frontage

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Ice maker; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Breakfast nook; Ceiling fans; Pantry; Primary bathroom with tub and separate shower; Split-bedroom layout; Vaulted ceilings; Walk-in closets
• Laundry & utility: In-unit laundry; Stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#344 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment 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: Fairglen Elementary School (math 34% / reading 38%, grade F, #1,670 of 2,144 statewide, top 78%, 617 students, 71% FRL); Cocoa High School (math 21% / reading 27%, grade F, #529 of 667 statewide, top 80%, 1,551 students, 73% FRL) — zoned schools average 72% FRL vs 43% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 55% district-wide (-25 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 fast (+5.6%/yr); 291 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 39% of the median local income ($71k/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 147 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

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 $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.90%
• DSCR: 1.17
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-17,261
• Equity at exit: $33,548

10-year hold

• IRR: 5.4%
• Equity multiple: 1.45×
• Total profit: $28,411
• Equity at exit: $19,454

Cash invested: $63,000 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 291
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$94
• HOA: −$250
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $205

Break-even live

Break-even rent $2,015

Max offer price $225,000

Occupancy floor 86%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1839 Morely Dr Cocoa, FL	4.0	2.0	1830	$2,495	$1.36	21d	1	0.59mi
4300 Florida 524 Cocoa, FL	1.0–2.0	1.0–2.0	950	$1,880	$1.98	13d	197	1.23mi
1708 Starship DR Cocoa, FL	1.0–3.0	1.0–2.0	1418	$2,549	$1.80	10d	81	1.36mi
4164 Fishermans Pl Cocoa, FL	2.0	2.0	1200	$1,625	$1.35	23d	1	1.46mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: watergas

Listing history 16 events

1. 2026-06-18
   days on market $225,000 Active 147 DOM
2. 2026-06-17
   days on market $225,000 Active 146 DOM
3. 2026-06-16
   days on market $225,000 Active 145 DOM
4. 2026-06-15
   days on market $225,000 Active 144 DOM
5. 2026-06-14
   days on market $225,000 Active 142 DOM
6. 2026-06-10
   days on market $225,000 Active 139 DOM
7. 2026-06-08
   days on market $225,000 Active 137 DOM
8. 2026-06-07
   days on market $225,000 Active 136 DOM
9. 2026-06-05
   days on market $225,000 Active 133 DOM
10. 2026-06-03
    days on market $225,000 Active 132 DOM
11. 2026-06-02
    days on market $225,000 Active 131 DOM
12. 2026-06-01
    days on market $225,000 Active 130 DOM
13. 2026-05-31
    days on market $225,000 Active 129 DOM
14. 2026-05-31
    days on market $225,000 Active 128 DOM
15. 2026-04-14
    price $225,000
16. 2026-01-22
    listed $250,000 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: $821 · $68/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,046/yr (+$87/mo · 127.4%)

ⓘ 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 7/10 Severe
• 🌡 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: $27,293
• − Mortgage interest: −$12,603
• − Property taxes: −$821
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − HOA: −$3,000
• − Depreciation: −$6,545
• Taxable loss: −$1,169
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $2,737/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 — Cocoa

• Score: 72/100
• State rank: #344
• US rank: #5979

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cocoa, FL
• County: Brevard County · 602,871 people
• City population: 67,424
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 23,505
• Household income: $70,735
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 782.0

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% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% 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: ▼ -68.32%
• Current HPI: 335.1251
• Rent YoY: ▲ 5.60%
• 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

-10.0% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $225,000 SCMLS
• 2026-01-22 Listed $250,000 SCMLS

Property tax history

+4.4%/yr

Latest (2025): $821 · +3.3% YoY. Source: county tax records.