2972 Matthew Dr · Rockledge, FL 32955

$199,900

3 bd · 2.0 ba · 1,113 sqft · SingleFamily public records · 49 Days on market

Built 1979 7,405 sqft lot ↓ 5% 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this cozy 3/ 2 home nestled on a beautiful shady lot in the heart of Rockledge. Offering a functional layout, this home features a galley-style kitchen, a spacious living and dining room combo, inside laundry room and a bright Florida room. Enjoy and relax year-round on the rear screened porch overlooking the peaceful backyard. Ideally located near The Avenue Viera, parks, schools, and a variety of dining options, this property combines comfort and location. Don't miss this opportunity to own in one of Rockledge's most convenient areas! All information recorded in the MLS is intended to be accurate but cannot be guaranteed, buyer advised to verify. Sold As-Is. ''

Key facts

• Galley-style kitchen
• Florida room
• Rear screened porch

Tags

• GALLEY-STYLE KITCHEN
• INSIDE LAUNDRY ROOM
• FLORIDA ROOM
• REAR SCREENED PORCH
• PEACEFUL BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#81 in FL, #1,315 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A, commute A-; Watch: 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: Hans Christian Andersen Elementary School (math 43% / reading 49%, grade D-, #1,234 of 2,144 statewide, top 58%, 567 students, 56% FRL); John F. Kennedy Middle School (math 67% / reading 59%, grade B+, #111 of 571 statewide, top 20%, 673 students, 41% FRL); Rockledge Senior High School (math 27% / reading 49%, grade F, #328 of 667 statewide, top 50%, 1,558 students, 50% FRL).
• Market conditions: Rents flat; 317 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $1k of loan paydown is wiped out by about $6k 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 49 days — a 3% lower offer ($194k) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.06% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.66×
• Total profit: $-19,026
• Equity at exit: $29,806

10-year hold

• IRR: -4.6%
• Equity multiple: 0.74×
• Total profit: $-14,743
• Equity at exit: $17,284

Cash invested: $55,972 (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 32955

• Home prices YoY: -20.7%
• Rents YoY: 0.1%
• Active inventory: 317
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,123 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$242 /mo · $2,904/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $303

Break-even live

Break-even rent $1,739

Max offer price $199,900

Occupancy floor 81%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3140 Southgate Dr Rockledge, FL	2.0–3.0	2.0	1092	$1,680	$1.54	14d	6	0.66mi
897 Levitt Pkwy Rockledge, FL	3.0	2.0	1386	$2,200	$1.59	23d	1	1.04mi
1913 Woodhaven Cir Rockledge, FL	2.0	2.0	930	$1,597	$1.72	13d	3	1.14mi
1001 Cascade Cir Rockledge, FL	2.0–3.0	2.0	1274	$2,065	$1.62	14d	6	1.27mi
3843 DeQuattro Dr Rockledge, FL	1.0–2.0	1.0–2.0	1073	$2,409	$2.24	14d	17	1.30mi

Listing history 6 events

1. 2026-04-17
   soldstatus $175,000
2. 2026-04-13
   status Pending
3. 2026-02-23
   listed $199,900 Active
4. 1979-08-01
   soldstatus $32,500
5. 1978-09-01
   soldstatus $792,000
6. 1965-10-01
   soldstatus $185,000

ⓘ 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: $2,904 · $242/mo
• Projected year-2 tax: $2,904 · $242/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $25,473
• − Mortgage interest: −$11,198
• − Property taxes: −$2,904
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − Depreciation: −$5,815
• Taxable income: $480
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $3,525/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 — Rockledge

• Score: 81/100
• State rank: #81
• US rank: #1315

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• City population: 41,008
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,008
• Household income: $86,457
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1273.0

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 (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 7% · Canada, Jamaica, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 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: ▼ -81.70%
• Current HPI: 312.7435
• Rent YoY: ▲ 0.12%
• 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

-5.4% since first listed

6 events — show timeline

• 2026-04-17 Sold (Public Records) $175,000 Public Records
• 2026-04-13 Pending — SCMLS
• 2026-02-23 Listed $199,900 SCMLS
• 1979-08-01 Sold (Public Records) $32,500 Public Records
• 1978-09-01 Sold (Public Records) $792,000 Public Records
• 1965-10-01 Sold (Public Records) $185,000 Public Records

Property tax history

+11.7%/yr

Latest (2025): $2,904 · +1.9% YoY. Source: county tax records.