5377 Beck Dr

Sharpes, FL 32927

$239,000F

2 bd · 2.0 ba · 1,247 sqft · Built 2008 · Manufactured · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,489/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$353
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $-430/mo
• Annual: $-5,165/yr
• Cap rate: 4.13%
• Cash-on-cash: -7.72%
• DSCR: 0.66
• 1% rule: 0.62%
• Cash to close: $66,920

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $239k.
• At list price, monthly cash flow is $-430 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (31.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (37.7% below list).
• It's been on market 32 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (37.7% below list) — sets the bar for 1% rule.
• 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.
• Location reads 73/100 on livability (#302 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: employment C-, 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: Fairglen Elementary School (math 34% / reading 38%, grade F, #1,670 of 2,144 statewide, top 78%, 617 students, 71% FRL); Cocoa Beach Junior/Senior High School (math 65% / reading 66%, grade B, #75 of 667 statewide, top 11%, 982 students, 30% FRL).
• Market conditions: Rents rising (+2.5%/yr); 227 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $12k; list at $239k implies a 1812% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• 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?
• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.