1229 Iriquois Dr · Micco, FL 32976

$150,000

2 bd · 2.0 ba · 1,370 sqft · Manufactured public records · 17 Days on market

Built 1985

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Look at all this space! 1370 sq ft under air in a quiet section of Barefoot Bay near the golf course. Nice, enclosed porch. Large closets and plenty of storage. Large pantry. Newer AC. Laundry room with a sink. Designated office space. Roll down shutters for your convenience. With a little bit of updating this home will be a great space for a full-time residence or a seasonal retreat. Barefoot Bay is a golf cart, pet friendly community where you own your land.

Key facts

• Plenty of storage
• Large closets
• Enclosed porch

Tags

• ENCLOSED PORCH
• LARGE CLOSETS
• PLENTY OF STORAGE
• LARGE PANTRY
• LAUNDRY ROOM WITH A SINK
• DESIGNATED OFFICE SPACE

Property features AI

Finance

• Financial info: Pets allowed with restrictions (breed restrictions and number limit)
• HOA & community: Association: BBRD; Community clubhouse; Playground; Pickleball courts; Shuffleboard; Tennis courts; Community pool

Exterior

• Parking: Assigned covered carport; Driveway parking; Two parking spaces plus additional parking available
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story; North-facing; Has a view
• Construction: Shingle roof; Manufactured construction
• Exterior features: Porch (enclosed); Community pool with electric heat and heated settings; Owned propane tank; Beach access; Less than quarter-acre lot

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher; Kitchen island; Pantry
• Bedrooms: Two bedrooms (13x13; 14x16)
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Window treatments; Sliding doors; Closet cabinetry; Kitchen island; Primary bedroom on main level; Pantry; Furnished
• Laundry & utility: In-unit washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#633 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, 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.
• Market conditions: 185 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); 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 $1k of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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; 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 $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.25% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.04%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $6,984
• Equity at exit: $22,365

10-year hold

• IRR: 13.8%
• Equity multiple: 2.10×
• Total profit: $46,380
• Equity at exit: $12,969

Cash invested: $42,000 (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 32976

• Home prices YoY: -18.6%
• Active inventory: 185
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$787
• Tax from tax record: −$145 /mo · $1,743/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $491

Break-even live

Break-even rent $1,259

Max offer price $150,000

Occupancy floor 69%

Sensitivity live

Price	-10% $576	-5% $534	+0% $491	+5% $449	+10% $406
Rent	-10% $343	-5% $417	+0% $491	+5% $566	+10% $640
Rate	-1.0pp $567	-0.5pp $529	base $491	+0.5pp $452	+1.0pp $413

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1112 Pocatella Dr Sebastian, FL	2.0	2.0	1370	$1,900	$1.39	24d	1	0.12mi
1315 Barefoot Cir Sebastian, FL	2.0	2.0	1167	$2,300	$1.97	24d	1	0.25mi
1207 Marigold Dr Sebastian, FL	2.0	2.0	1104	$1,500	$1.36	24d	1	0.48mi
904 Red Bud Rd Sebastian, FL	3.0	2.0	1278	$1,500	$1.17	24d	1	0.72mi
914 Pecan Cir Sebastian, FL	2.0	1.0	1000	$1,600	$1.60	24d	1	0.80mi
702 Lark Dr Sebastian, FL	3.0	2.0	1296	$1,775	$1.37	24d	1	0.85mi
805 Beech Ct Sebastian, FL	2.0	2.0	1556	$1,995	$1.28	24d	1	0.85mi
706 Hyacinth Cir Sebastian, FL	2.0	2.0	1062	$1,750	$1.65	24d	1	0.88mi
621 Hyacinth Cir Sebastian, FL	2.0	2.0	1324	$1,850	$1.40	24d	1	0.88mi
909 Sequoia St Sebastian, FL	2.0	2.0	1156	$1,845	$1.60	24d	1	1.06mi
7419 Tourmaline Dr Unit Annual Grant-Valkaria, FL	3.0	2.0	1676	$2,200	$1.31	24d	1	1.22mi
7349 Tourmaline Dr Grant, FL	3.0	2.0	1735	$2,200	$1.27	24d	1	1.24mi
629 W Marlin Cir Unit NA Sebastian, FL	2.0	2.0	1104	$1,400	$1.27	15d	1	1.40mi
7629 Chasta Rd Sebastian, FL	2.0	2.0	958	$1,600	$1.67	24d	1	1.46mi
7606 Cedar Bark Rd Sebastian, FL	2.0	2.0	1273	$1,800	$1.41	24d	1	1.48mi
7181 Blue Shore Rd Grant, FL	3.0	2.0	1598	$1,995	$1.25	24d	1	1.48mi
7597 Cedar Bark Rd Sebastian, FL	2.0	2.0	902	$1,700	$1.88	24d	1	1.50mi

Listing history 5 events

1. 2026-05-31
   status $150,000 Pending 17 DOM
2. 2026-05-31
   days on market $150,000 Active 17 DOM
3. 2026-05-31
   days on market $150,000 Active 16 DOM
4. 2026-05-14
   listed $150,000 Active

   Show marketing remark (464 chars)

   Look at all this space! 1370 sq ft under air in a quiet section of Barefoot Bay near the golf course. Nice, enclosed porch. Large closets and plenty of storage. Large pantry. Newer AC. Laundry room with a sink. Designated office space. Roll down shutters for your convenience. With a little bit of updating this home will be a great space for a full-time residence or a seasonal retreat. Barefoot Bay is a golf cart, pet friendly community where you own your land.

5. 2026-05-14
   listed $150,000 Active 464-char remark

   Show marketing remark (464 chars)

   Look at all this space! 1370 sq ft under air in a quiet section of Barefoot Bay near the golf course. Nice, enclosed porch. Large closets and plenty of storage. Large pantry. Newer AC. Laundry room with a sink. Designated office space. Roll down shutters for your convenience. With a little bit of updating this home will be a great space for a full-time residence or a seasonal retreat. Barefoot Bay is a golf cart, pet friendly community where you own your land.

ⓘ 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: $1,743 · $145/mo
• Projected year-2 tax: $1,743 · $145/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 7/10 Severe
• 🌡 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: $22,566
• − Mortgage interest: −$8,402
• − Property taxes: −$1,743
• − Insurance: −$750
• − Repairs & maintenance: −$1,805
• − Management: −$1,805
• − Depreciation: −$4,364
• Taxable income: $3,697
• Est. tax owed @ 24.0%: −$887
• After-tax cash flow: $5,008/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 — Micco

• Score: 65/100
• State rank: #633
• US rank: #12408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Micco, FL
• Population (ZIP): 9,237

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 1% Asian 1%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -73.57%
• Current HPI: 321.5196
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-14 Listed $150,000 SCMLS
• 2026-05-14 Listed $150,000 RAIRCMLS

Property tax history

+11.1%/yr

Latest (2025): $1,743 · +5.8% YoY. Source: county tax records.