4107 Meander Pl #203 · Rockledge, FL 32955

$205,000

2 bd · 2.0 ba · 1,079 sqft · Condo public records · 8 Days on market

Built 2007 $326/mo HOA · 16% of rent

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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).

• Cash flow +10.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this beautifully maintained condo centrally located in the gated community of Jameson Place off of Murrell Rd in the Viera/Rockledge area. This 2 bedroom/2 bath condo has a split floor plan with one car garage entry and laundry room with full sized washer/dryer located on the first floor and stairs to second floor to the great room, kitchen, beds and baths . The spacious and contemporary kitchen has plenty of cabinet and work space as well as a breakfast bar. Very nicely appointed engineered hardwood floors throughout. This condo is move in ready! Amenities include heated swimming pool and playground. Conveniently located to schools, shopping, restaurants and I-95. You won't want to miss this one!

Key facts

• Gated community
• Laundry room
• Split floor plan

Tags

• GATED COMMUNITY
• SPLIT FLOOR PLAN
• LAUNDRY ROOM
• BREAKFAST BAR
• ENGINEERED HARDWOOD FLOORS
• HEATED SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (2.4% below list).
• Recommended offer: $183k (10.6% below list) — sets the bar for cash-flow.

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: Manatee Elementary School (math 85% / reading 84%, grade A+, #43 of 2,144 statewide, top 2%, 897 students, 19% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $128k; list at $205k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $183,298 (10.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.57%
• DSCR: 0.89
• GRM: 8.5

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: -24.5%
• Equity multiple: 0.19×
• Total profit: $-46,473
• Equity at exit: $30,566

10-year hold

• IRR: -35.1%
• Equity multiple: -0.25×
• Total profit: $-71,538
• Equity at exit: $17,725

Cash invested: $57,400 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$217 /mo · $2,607/yr
• Insurance: −$85
• HOA: −$326
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-123

Break-even live

Break-even rent $2,157

Max offer price $183,298

Occupancy floor —

Sensitivity live

Price	-10% $-7	-5% $-65	+0% $-123	+5% $-181	+10% $-239
Rent	-10% $-281	-5% $-202	+0% $-123	+5% $-44	+10% $35
Rate	-1.0pp $-20	-0.5pp $-71	base $-123	+0.5pp $-176	+1.0pp $-230

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4106 Meander Pl #104 Rockledge, FL	3.0	2.0	1354	$2,025	$1.50	24d	1	0.03mi
4047 Meander Pl #104 Rockledge, FL	3.0	2.0	1354	$1,925	$1.42	14d	1	0.19mi
1626 Peregrine Cir #408 Rockledge, FL	3.0	2.0	1247	$2,000	$1.60	14d	1	0.46mi
1626 Peregrine Cir Rockledge, FL	3.0	2.0	1329	$1,850	$1.39	21d	2	0.46mi
3868 Lexmark Ln #409 Rockledge, FL	3.0	2.0	1447	$2,200	$1.52	19d	1	0.51mi
3848 Lexmark Ln Unit 401 Rockledge, FL	3.0	2.0	1247	$1,850	$1.48	21d	1	0.54mi
3843 DeQuattro Dr Rockledge, FL	1.0–2.0	1.0–2.0	1073	$2,409	$2.24	14d	17	1.07mi
1019 Fusion Ln Rockledge, FL	1.0–3.0	1.0–2.0	1149	$2,322	$2.02	21d	36	1.24mi
1851 Long Iron Dr #901 Rockledge, FL	2.0	2.0	1118	$1,700	$1.52	24d	1	1.43mi

HOA detail condo

• Monthly dues: $326 · $3,912/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $205,000 Coming Soon 8 DOM
2. 2026-06-17
   days on market $205,000 Coming Soon 7 DOM
3. 2026-06-16
   days on market $205,000 Coming Soon 6 DOM
4. 2026-06-15
   days on market $205,000 Coming Soon 5 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $205,000 Coming Soon 3 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: $2,607 · $217/mo
• Projected year-2 tax: $2,607 · $217/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,013
• − Mortgage interest: −$11,483
• − Property taxes: −$2,607
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$3,912
• − Depreciation: −$5,964
• Taxable loss: −$4,820
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $-317/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

• Census place: Rockledge, FL
• 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

+55.4% since first listed

7 events — show timeline

• 2026-06-10 Coming Soon $205,000 SCMLS
• 2021-07-05 Listing Removed — SCMLS
• 2021-06-04 Listed $200,000 SCMLS
• 2021-05-23 Coming Soon $200,000 SCMLS
• 2016-12-08 Sold (Public Records) $128,500 Public Records
• 2016-12-07 Sold (MLS) $128,500 SCMLS
• 2016-10-06 Listed $131,900 SCMLS

Property tax history

+14.0%/yr

Latest (2025): $2,607 · -11.9% YoY. Source: county tax records.