1158 Ruby St SE · Palm Bay, FL 32909

$304,900

4 bd · 2.0 ba · 1,876 sqft · Land · 48 Days on market

Built 2026 10,019 sqft lot

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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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.9/10.0

Listing remarks MLS

Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

Key facts

• Pantry storage
• Large island
• 0.23 acre lot

Tags

• BRAND NEW CONSTRUCTION
• FLEXIBLE LIVING SPACES
• EXPANSIVE OPEN FLOOR PLAN
• LARGE ISLAND
• PANTRY STORAGE
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $305k.

Deal economics

• At list price, monthly cash flow is $-335 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (26.4% below list).
• Recommended offer: $224k (26.4% 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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% 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 schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 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); 1111 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $33k of equity ($2k loan paydown + $30k 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 ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $92k; list at $305k implies a 233% 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 $224,269 (26.4% 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. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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: 0.74% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• GRM: 11.3

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: 21.1%
• Equity multiple: 2.71×
• Total profit: $146,252
• Equity at exit: $274,678

10-year hold

• IRR: 19.3%
• Equity multiple: 6.28×
• Total profit: $450,728
• Equity at exit: $592,354

Cash invested: $85,372 (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: 1111
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,243 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,574/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $-335

Break-even live

Break-even rent $2,667

Max offer price $256,371

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-230	+0% $-335	+5% $-441	+10% $-546
Rent	-10% $-513	-5% $-424	+0% $-335	+5% $-247	+10% $-158
Rate	-1.0pp $-182	-0.5pp $-258	base $-335	+0.5pp $-414	+1.0pp $-495

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: $76,225
• Closing costs: $9,147
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Tiger St SE Palm Bay, FL	3.0	2.0	1690	$1,950	$1.15	15d	1	0.10mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	24d	1	0.15mi
1150 Raoul St SE Palm Bay, FL	4.0	2.0	1787	$2,300	$1.29	24d	1	0.35mi
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	24d	1	0.35mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	15d	1	0.64mi
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	24d	1	0.71mi
1530 Paley Cir SE Palm Bay, FL	4.0	2.0	1842	$2,095	$1.14	15d	1	0.82mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	24d	1	0.85mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	24d	1	0.86mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	24d	1	0.88mi
1625 Waneta St SE Palm Bay, FL	3.0	2.0	1631	$2,100	$1.29	19d	1	0.90mi
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	14d	1	1.00mi
1210 Vandalia Ave SE Palm Bay, FL	4.0	2.0	1833	$2,050	$1.12	15d	1	1.00mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	24d	1	1.10mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	24d	1	1.11mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	19d	1	1.14mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	24d	1	1.23mi
1643 Talavera St SE Palm Bay, FL	4.0	2.0	1833	$1,861	$1.02	19d	1	1.29mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	15d	1	1.29mi
2242 Mantilla Ave SE Palm Bay, FL	5.0	2.0	2516	$2,176	$0.86	21d	1	1.38mi
1454 Graves St SE Palm Bay, FL	3.0	2.0	1621	$2,100	$1.30	15d	1	1.38mi
647 Airoso Rd SE Palm Bay, FL	4.0	3.0	2365	$2,900	$1.23	14d	1	1.44mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	19d	1	1.45mi
1165 Rabbit St SE Palm Bay, FL	3.0	2.0	1994	$1,895	$0.95	19d	1	1.46mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	24d	1	1.50mi

Listing history 14 events

1. 2026-04-29
   soldstatus $91,677
2. 2026-04-02
   status Pending
3. 2026-03-06
   price $304,900
4. 2026-02-13
   listed $317,900 Active
5. 2026-01-14
   soldstatus $39,000 Closed 443-char remark

   Show marketing remark (443 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

6. 2026-01-13
   soldstatus $121,900
7. 2025-12-04
   status Pending 443-char remark

   Show marketing remark (443 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

8. 2025-11-07
   status Active 443-char remark

   Show marketing remark (443 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

9. 2025-11-06
   status Pending 443-char remark

   Show marketing remark (443 chars)

   Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

10. 2025-10-03
    listed $39,000 Active 443-char remark

    Show marketing remark (443 chars)

    Situated in the heart of Port Malabar, this residential lot measures 80 by 125 feet and is located outside the flood zone, with no wetlands or endangered species. Shovel-ready and primed for immediate development, this property is ideally positioned to benefit from Palm Bay's rapid growth, one of the fastest-developing cities in Florida. Perfect for families planning to build their dream home or investors seeking a high-potential property.

11. 2025-10-02
    soldstatus $32,000
12. 2025-10-01
    soldstatus $32,000 Closed
13. 2025-08-19
    historical Active Under Contract
14. 2025-08-05
    listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $26,912
• − Mortgage interest: −$17,079
• − Property taxes: −$4,574
• − Insurance: −$1,524
• − Repairs & maintenance: −$2,153
• − Management: −$2,153
• − Depreciation: −$8,870
• Taxable loss: −$9,441
• Est. tax savings @ 24.0%: +$2,266
• After-tax cash flow: $-1,759/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

+103.7% since first listed

14 events — show timeline

• 2026-04-29 Sold (Public Records) $91,677 Public Records
• 2026-04-02 Pending — SCMLS
• 2026-03-06 Price Changed $304,900 SCMLS
• 2026-02-13 Listed $317,900 SCMLS
• 2026-01-14 Sold (MLS) $39,000 SCMLS
• 2026-01-13 Sold (Public Records) $121,900 Public Records
• 2025-12-04 Pending — SCMLS
• 2025-11-07 Relisted — SCMLS
• 2025-11-06 Pending — SCMLS
• 2025-10-03 Listed $39,000 SCMLS
• 2025-10-02 Sold (Public Records) $32,000 Public Records
• 2025-10-01 Sold (MLS) $32,000 SCMLS
• 2025-08-19 Contingent — SCMLS
• 2025-08-05 Listed $45,000 SCMLS

Property tax history

+12.2%/yr

Latest (2025): $362 · +9.0% YoY. Source: county tax records.