1788 Big Cypress St NE · Palm Bay, FL 32905

$159,000

3 bd · 2.0 ba · 1,222 sqft · Manufactured public records · 15 Days on market

Built 1976 4,792 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

Welcome home to a wonderful 55+ community nestled in NE Palm Bay. You own your land in this well maintained community. Walk into this beautifully updated manufactured home into the first living, entertaining space. Room flows into a HUGE kitchen with newly tiled, endless counters and so much cabinet space for all your cooking equipment and gadgets! ALL appliances brand new. New vinyl flooring throughout home and fresh paint. Very large master bedroom and enormous walk in closet. Master bath equipped with walk in shower. Roof newley coated. Partially enclosed carport for more living space and climate controlled with laundry area. Property fully fenced and backyard has great potential for setting up seating areas. Large shed with ramp for storage. Property is close to all- restaurants, groceries, and shops. Only 5 minutes to downtown and 11 minutes to the beach! HOA offers amenities- use of clubhouse with kitchen and pool table, in-ground pool, tennis.

Key facts

• Newly coated roof
• Brand new appliances
• Walk in shower

Tags

• NEWLY TILED COUNTERS
• BRAND NEW APPLIANCES
• NEW VINYL FLOORING
• WALK IN SHOWER
• NEWLY COATED ROOF
• PARTIALLY ENCLOSED CARPORT

Property features AI

Finance

• Other: Unfurnished unit
• HOA & community: Palm Bay Colony association (voluntary); Community amenities: clubhouse, shuffleboard court, tennis courts; Association fee: $45 (includes grounds maintenance); One-time association fee: $1,500; Senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Private sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured home; One story; Entry level: 1; East-facing
• Construction: Vinyl siding and other exterior materials; Membrane roof; Pets allowed
• Exterior features: Front porch (screened); Chain link and vinyl fencing; Cleared lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Breakfast nook; Ceiling fan(s); Open floorplan; Primary bathroom with shower (no tub)
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.

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: Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 55% district-wide (-22 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k 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 15 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago 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 $26k; list at $159k implies a 512% 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 $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.09% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.79×
• Total profit: $-9,380
• Equity at exit: $23,707

10-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-208
• Equity at exit: $13,747

Cash invested: $44,520 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,734 high
• Mortgage (P&I): −$834
• Tax from tax record: −$133 /mo · $1,594/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $337

Break-even live

Break-even rent $1,307

Max offer price $159,000

Occupancy floor 76%

Sensitivity live

Price	-10% $427	-5% $382	+0% $337	+5% $292	+10% $247
Rent	-10% $200	-5% $269	+0% $337	+5% $406	+10% $474
Rate	-1.0pp $417	-0.5pp $378	base $337	+0.5pp $296	+1.0pp $254

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1894 Coco Plum St NE Palm Bay, FL	2.0	2.0	1188	$1,200	$1.01	20d	1	0.20mi
1924 Seagrape St NE Palm Bay, FL	2.0	2.0	1206	$1,575	$1.31	15d	1	0.22mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	24d	1	0.35mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$2,255	$2.04	14d	47	0.45mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$2,022	$1.85	14d	20	0.58mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$2,024	$1.85	14d	33	0.58mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	24d	12	0.60mi
3711 Vista Oaks Cir NE Palm Bay, FL	2.0	1.5	1236	$1,500	$1.21	22d	1	0.68mi
2154 Henry St NE Palm Bay, FL	4.0	1.5	1020	$1,850	$1.81	24d	1	0.69mi
520 Benton Dr Melbourne, FL	3.0	2.0	1281	$1,850	$1.44	24d	1	0.71mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	24d	1	0.75mi
342 Crown Blvd Melbourne, FL	3.0	2.0	1224	$1,900	$1.55	24d	1	0.91mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	24d	5	0.93mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	24d	1	1.01mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	20d	1	1.03mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,899	$1.74	15d	6	1.03mi
2168 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,775	$1.39	15d	1	1.04mi
1300 Arlington Ln NE #125 Palm Bay, FL	2.0	2.5	1140	$1,500	$1.32	20d	1	1.07mi
2106 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,900	$1.48	15d	1	1.07mi
4315 S Babcock St Melbourne, FL	1.0–3.0	1.0–2.0	996	$2,026	$2.03	14d	15	1.25mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	24d	1	1.32mi
1051 Clearmont St NE Unit 202 Palm Bay, FL	2.0	2.0	993	$1,480	$1.49	20d	1	1.43mi

Listing history 10 events

1. 2026-06-18
   days on market $159,000 Active 15 DOM
2. 2026-06-17
   days on market $159,000 Active 14 DOM
3. 2026-06-16
   days on market $159,000 Active 13 DOM
4. 2026-06-15
   days on market $159,000 Active 12 DOM
5. 2026-06-14
   days on market $159,000 Active 10 DOM
6. 2026-06-10
   days on market $159,000 Active 7 DOM
7. 2026-06-08
   days on market $159,000 Active 5 DOM
8. 2026-06-07
   days on market $159,000 Active 4 DOM
9. 2026-06-05
   remarks 699-char remark
10. 2026-06-05
    listed $159,000 Active 1 DOM

ⓘ 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: $1,594 · $133/mo
• Projected year-2 tax: $1,594 · $133/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $20,813
• − Mortgage interest: −$8,906
• − Property taxes: −$1,594
• − Insurance: −$795
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$4,625
• Taxable income: $1,562
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $3,673/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+1506.1% since first listed

26 events — show timeline

• 2026-06-03 Listed $159,000 SCMLS
• 2026-04-28 Listing Removed — SCMLS
• 2026-03-02 Price Changed $159,000 SCMLS
• 2026-01-23 Price Changed $164,500 SCMLS
• 2026-01-01 Relisted — SCMLS
• 2025-12-31 Listing Removed — SCMLS
• 2025-11-17 Price Changed $169,500 SCMLS
• 2025-10-06 Relisted — SCMLS
• 2025-08-29 Listing Removed — SCMLS
• 2025-07-15 Price Changed $174,999 SCMLS
• 2025-06-06 Listed $199,000 SCMLS
• 2016-09-29 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2011-06-03 Sold (MLS) $26,000 SCMLS
• 2010-12-17 Listed $29,900 SCMLS
• 2010-04-27 Listed $39,900 SCMLS
• 2009-02-05 Listed $73,500 SCMLS
• 2008-07-29 Listed $85,000 SCMLS
• 2005-04-11 Sold (Public Records) $62,300 Public Records
• 2003-09-08 Sold (Public Records) $52,000 Public Records
• 2002-09-09 Sold (Public Records) $41,000 Public Records
• 1993-11-04 Sold (Public Records) $37,500 Public Records
• 1982-07-01 Sold (Public Records) $35,000 Public Records
• 1980-08-01 Sold (Public Records) $31,000 Public Records
• 1976-12-01 Sold (Public Records) $9,900 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,594 · -0.1% YoY. Source: county tax records.