3509 Hilltop Ln · Sharpes, FL 32926

$349,900

3 bd · 2.0 ba · 2,217 sqft · SingleFamily public records · 62 Days on market

Built 1968 8,712 sqft lot

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Why this score? — see what drove the F 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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

A MUST SEE! Where Space, Comfort, and Opportunity Meet. .. Step into a residence where scale, function, and potential come together seamlessly. This expansive 4BE, 2BA home offering over 2,200 square feet of living space delivers a rare combination of size and versatility in one of Cocoa's established neighborhoods. From the moment you enter, you're welcomed by a generous single-story layout designed for both everyday living and effortless entertaining. The flowing floor plan creates a natural connection between living, dining, and gathering spaces--perfect for hosting or simply enjoying the comfort of home. The heart of the home offers ample space to design your dream kitchen and living ex

Key facts

• Private backyard
• Natural light
• Single story layout

Tags

• SINGLE STORY LAYOUT
• PRIVATE BACKYARD
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Garage; 2-car garage
• Utilities: Public sewer; Cable available; Electricity connected; Water available
• Home design: Single-family residence; Faces west
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Few trees on the lot; No private pool

Interior

• Kitchen: Electric oven; Electric range; Microwave
• Bedrooms: 4 bedrooms (includes rooms labeled Bedroom 2, Bedroom 3, Bedroom 4)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Open floor plan; 9 total rooms
• Laundry & utility: Unfurnished (no built-in washer/dryer listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-425 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (31.6% below list).
• Recommended offer: $239k (31.6% below list) — sets the bar for 1% rule.

Location & tenants

• 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 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); 296 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); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 41% 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 $10k 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 62 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,404 (31.6% 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 62 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.21%
• DSCR: 0.77
• GRM: 12.2

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: -22.5%
• Equity multiple: 0.21×
• Total profit: $-77,396
• Equity at exit: $52,171

10-year hold

• IRR: -11.5%
• Equity multiple: 0.24×
• Total profit: $-74,581
• Equity at exit: $30,253

Cash invested: $97,972 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 296
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,394 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$336 /mo · $4,032/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-425

Break-even live

Break-even rent $2,933

Max offer price $274,745

Occupancy floor —

Sensitivity live

Price	-10% $-227	-5% $-326	+0% $-425	+5% $-524	+10% $-624
Rent	-10% $-615	-5% $-520	+0% $-425	+5% $-331	+10% $-236
Rate	-1.0pp $-249	-0.5pp $-336	base $-425	+0.5pp $-516	+1.0pp $-608

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3435 Indian River Dr Cocoa, FL	4.0	2.5	3000	$8,250	$2.75	26d	1	0.48mi
2811 N Indian River Dr Cocoa, FL	3.0	1.5	1800	$2,600	$1.44	26d	1	1.04mi
3070 Cirrus Dr Cocoa, FL	3.0	1.0–2.0	1002	$2,661	$2.66	16d	29	1.10mi

Listing history 17 events

1. 2026-06-23
   days on market $349,900 Active 62 DOM
2. 2026-06-22
   days on market $349,900 Active 61 DOM
3. 2026-06-18
   days on market $349,900 Active 58 DOM
4. 2026-06-17
   days on market $349,900 Active 57 DOM
5. 2026-06-16
   days on market $349,900 Active 56 DOM
6. 2026-06-15
   days on market $349,900 Active 55 DOM
7. 2026-06-14
   days on market $349,900 Active 53 DOM
8. 2026-06-10
   days on market $349,900 Active 50 DOM
9. 2026-06-08
   days on market $349,900 Active 48 DOM
10. 2026-06-07
    days on market $349,900 Active 47 DOM
11. 2026-06-05
    days on market $349,900 Active 44 DOM
12. 2026-06-03
    days on market $349,900 Active 43 DOM
13. 2026-06-02
    days on market $349,900 Active 42 DOM
14. 2026-06-01
    days on market $349,900 Active 41 DOM
15. 2026-05-31
    days on market $349,900 Active 40 DOM
16. 2026-05-31
    days on market $349,900 Active 39 DOM
17. 2026-04-21
    listed $364,900 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: $4,032 · $336/mo
• Projected year-2 tax: $4,032 · $336/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 4/10 Moderate
• 🌡 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: $28,728
• − Mortgage interest: −$19,600
• − Property taxes: −$4,032
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − Depreciation: −$10,179
• Taxable loss: −$11,429
• Est. tax savings @ 24.0%: +$2,743
• After-tax cash flow: $-2,362/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 — Sharpes

• Score: 73/100
• State rank: #302
• US rank: #5144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharpes, FL
• County: Brevard County · 602,871 people
• City population: 11
• 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

1 event — show timeline

• 2026-04-21 Listed $364,900 SCMLS

Property tax history

+11.5%/yr

Latest (2025): $4,032 · +7.2% YoY. Source: county tax records.