363 Comet Ave SE · Palm Bay, FL 32909

$254,900

4 bd · 2.0 ba · 1,449 sqft · SingleFamily public records · 87 Days on market

Built 1980 10,454 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 +13.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.1/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come see this cute 3 bedroom 2 bathroom home located in quiet SE Palm Bay neighborhood close to all daily needs shopping dining and schools. Home features tile and carpet floors open floor plan and large screened in back patio perfect for entertaining. Large back yard big enough for a pool. Home is perfect for a new growing family! Hurry! this home will not last long!!

Key facts

• Large family room
• Formal dining room
• Screened porch

Tags

• LARGE FAMILY ROOM
• FORMAL LIVING ROOM
• FORMAL DINING ROOM
• SCREENED PORCH

Property features AI

Exterior

• Parking: Garage; 2-car garage
• Security: Smoke detector(s)
• Utilities: Public sewer; Water available; Electricity available; Cable available; Sewer available
• Home design: Single-family residence; One story; Entry level: 1; Faces west
• Construction: Concrete and stucco construction; Shingle roof
• Exterior features: Porch (screened); Few trees; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on entry level)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Smoke detector(s)
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $19 ($224/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (13.9% below list).
• Recommended offer: $220k (13.9% 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $71k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $77k; list at $255k implies a 231% 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 $219,521 (13.9% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 9.7

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: 24.7%
• Equity multiple: 2.98×
• Total profit: $141,507
• Equity at exit: $229,634

10-year hold

• IRR: 22.0%
• Equity multiple: 6.87×
• Total profit: $418,898
• Equity at exit: $495,215

Cash invested: $71,372 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$273 /mo · $3,272/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $19

Break-even live

Break-even rent $2,172

Max offer price $254,900

Occupancy floor 94%

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
741 Frisco St SE Palm Bay, FL	3.0	2.0	1156	$1,950	$1.69	23d	1	0.24mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	23d	1	0.65mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	0.65mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	23d	1	0.78mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	14d	30	0.79mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	23d	1	0.88mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	14d	8	1.01mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	14d	1	1.06mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	23d	1	1.11mi
721 Taluga Ave SE Palm Bay, FL	3.0	2.0	1556	$1,800	$1.16	23d	1	1.14mi
194 Holiday Park Blvd NE Palm Bay, FL	3.0	2.0	1404	$1,695	$1.21	23d	1	1.18mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	14d	1	1.21mi
481 Firestone St NE Palm Bay, FL	4.0	2.0	1504	$2,100	$1.40	23d	1	1.22mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	19d	1	1.23mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	14d	1	1.24mi
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	21d	1	1.25mi
1391 Nolan St NE Palm Bay, FL	3.0	2.0	1176	$1,830	$1.56	19d	1	1.25mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	14d	1	1.28mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	23d	1	1.28mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	23d	1	1.33mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	23d	1	1.36mi
453 Ralwood Ln NE Palm Bay, FL	3.0	2.0	1160	$1,900	$1.64	23d	1	1.37mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	23d	1	1.42mi
463 Eldron Blvd NE Palm Bay, FL	4.0	2.0	1870	$2,800	$1.50	23d	1	1.42mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	14d	1	1.43mi
549 Burlington Ave NE Palm Bay, FL	3.0	2.0	1608	$2,075	$1.29	14d	1	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $254,900 Active 87 DOM
2. 2026-06-17
   days on market $254,900 Active 86 DOM
3. 2026-06-16
   days on market $254,900 Active 85 DOM
4. 2026-06-15
   days on market $254,900 Active 84 DOM
5. 2026-06-14
   days on market $254,900 Active 82 DOM
6. 2026-06-10
   days on market $254,900 Active 79 DOM
7. 2026-06-08
   days on market $254,900 Active 77 DOM
8. 2026-06-07
   days on market $254,900 Active 76 DOM
9. 2026-06-05
   days on market $254,900 Active 73 DOM
10. 2026-06-03
    days on market $254,900 Active 72 DOM
11. 2026-06-02
    days on market $254,900 Active 71 DOM
12. 2026-06-01
    days on market $254,900 Active 70 DOM
13. 2026-05-31
    days on market $254,900 Active 69 DOM
14. 2026-05-31
    days on market $254,900 Active 68 DOM
15. 2026-03-19
    listed $254,900 Active
16. 2014-01-17
    soldstatus $77,000 371-char remark

    Show marketing remark (371 chars)

    Come see this cute 3 bedroom 2 bathroom home located in quiet SE Palm Bay neighborhood close to all daily needs shopping dining and schools. Home features tile and carpet floors open floor plan and large screened in back patio perfect for entertaining. Large back yard big enough for a pool. Home is perfect for a new growing family! Hurry! this home will not last long!!

17. 2013-10-16
    listed $84,900 371-char remark

    Show marketing remark (371 chars)

    Come see this cute 3 bedroom 2 bathroom home located in quiet SE Palm Bay neighborhood close to all daily needs shopping dining and schools. Home features tile and carpet floors open floor plan and large screened in back patio perfect for entertaining. Large back yard big enough for a pool. Home is perfect for a new growing family! Hurry! this home will not last long!!

18. 1994-04-28
    soldstatus $63,000
19. 1990-03-01
    soldstatus $57,000
20. 1980-06-01
    soldstatus $52,900
21. 1979-05-01
    soldstatus $44,000

ⓘ 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: $3,272 · $273/mo
• Projected year-2 tax: $3,272 · $273/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 ≥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: $26,343
• − Mortgage interest: −$14,278
• − Property taxes: −$3,272
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$7,415
• Taxable loss: −$4,112
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $1,211/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

+479.3% since first listed

7 events — show timeline

• 2026-03-19 Listed $254,900 SCMLS
• 2014-01-17 Sold (MLS) $77,000 SCMLS
• 2013-10-16 Listed $84,900 SCMLS
• 1994-04-28 Sold (Public Records) $63,000 Public Records
• 1990-03-01 Sold (Public Records) $57,000 Public Records
• 1980-06-01 Sold (Public Records) $52,900 Public Records
• 1979-05-01 Sold (Public Records) $44,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,272 · -2.8% YoY. Source: county tax records.