108 1st St · Merritt Island, FL 32953

$329,900

3 bd · 2.0 ba · 1,708 sqft · SingleFamily public records · 58 Days on market

Built 1959 7,405 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Merritt Island home is located in the heart of the island. This 4BR/2BA home with 1,708sf of living space, has tiling throughout the home. Kitchen boasts updated cabinets, corian countertop, and NEW stainless steel appliances. Two living spaces in the home, along with additional room for office. Completely fenced backyard. Roof 2015, AC 2019, Water Heater 2020, Electrical Panel 2020. Close to beaches, shopping, restaurants, and so much more!

Key facts

• Updated tile
• New kitchen cabinets
• New shingle roof

Tags

• NEW SHINGLE ROOF
• NEW KITCHEN CABINETS
• GRANITE COUNTER TOPS
• NEW STAINLESS APPLIANCES
• UPDATED TILE
• UPDATED ELECTRICAL PANEL

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public sewer; Water connected; Sewer connected; Natural gas connected; Cable available
• Home design: Single-family residence; One story; Faces west
• Construction: Block construction; Shingle roof
• Exterior features: Covered front porch; Located on a dead-end street; County road frontage; Paved road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Tankless water heater
• Bedrooms: 4 bedrooms (all on the first level)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Primary bathroom with tub and shower; Split bedroom floor plan; 10 total rooms
• Laundry & utility: In-unit laundry; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $68 ($818/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 $284k (13.8% below list).
• Recommended offer: $284k (13.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Mila Elementary School (math 37% / reading 46%, grade F, #1,437 of 2,144 statewide, top 68%, 433 students, 70% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL).
• Market conditions: Rents rising (+2.1%/yr); 221 active listings in the ZIP; 20 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).
• This rent runs 39% of the median local income ($87k/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 58 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $235k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $284,476 (13.8% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-51,633
• Equity at exit: $49,189

10-year hold

• IRR: -9.0%
• Equity multiple: 0.46×
• Total profit: $-49,514
• Equity at exit: $28,524

Cash invested: $92,372 (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 32953

• Home prices YoY: -34.5%
• Rents YoY: 2.1%
• Active inventory: 221
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,845 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$245 /mo · $2,943/yr
• Insurance: −$137
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $68

Break-even live

Break-even rent $2,758

Max offer price $329,900

Occupancy floor 93%

Sensitivity live

Price	-10% $255	-5% $162	+0% $68	+5% $-25	+10% $-119
Rent	-10% $-157	-5% $-44	+0% $68	+5% $181	+10% $293
Rate	-1.0pp $234	-0.5pp $152	base $68	+0.5pp $-17	+1.0pp $-104

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Needle Blvd Merritt Island, FL	4.0	2.0	1314	$3,250	$2.47	25d	1	0.11mi
215 Richland Ave Unit 1044313P Merritt Island, FL	3.0	2.0	1184	$4,648	$3.93	16d	1	0.16mi
800 1st St Merritt Island, FL	3.0	2.0	1529	$2,800	$1.83	25d	1	0.26mi
390 Needle Blvd Merritt Island, FL	4.0	2.0	1828	$3,450	$1.89	25d	1	0.33mi
165 Tiki Dr Merritt Island, FL	3.0	2.0	1795	$2,875	$1.60	25d	1	0.44mi
820 Del Rio Way #401 Merritt Island, FL	3.0	2.0	1862	$2,600	$1.40	25d	1	0.53mi
140 McLeod St Unit 1513829P Merritt Island, FL	3.0	2.0	1323	$3,291	$2.49	21d	1	0.62mi
480 Sail Ln #204 Merritt Island, FL	3.0	2.0	2122	$2,950	$1.39	16d	1	0.86mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	16d	4	1.06mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	25d	4	1.06mi
215 Artemis Blvd Merritt Island, FL	4.0	2.0	2120	$4,700	$2.22	25d	1	1.07mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	16d	1	1.14mi
410 S Tropical Trl Merritt Island, FL	3.0	2.0	1573	$2,295	$1.46	25d	1	1.20mi
200 S Sykes Creek Pkwy #702 Merritt Island, FL	2.0	2.0	1307	$2,390	$1.83	25d	1	1.21mi
250 S Sykes Creek Pkwy Unit B510 Merritt Island, FL	2.0	2.0	1660	$2,600	$1.57	25d	1	1.29mi
489 Seacrest Ave Unit 1325661P Merritt Island, FL	3.0	2.0	1173	$4,320	$3.68	16d	1	1.37mi
43 Bogart Pl Merritt Island, FL	2.0	1.5	1172	$1,875	$1.60	25d	1	1.37mi
48 Bogart Pl Merritt Island, FL	2.0	1.5	1184	$1,800	$1.52	25d	1	1.39mi
10 Bogart Pl Merritt Island, FL	3.0	2.5	1376	$2,350	$1.71	25d	1	1.41mi
1527 Schoolhouse St Unit A3 Merritt Island, FL	2.0	1.0	1695	$1,350	$0.80	25d	1	1.45mi

Listing history 20 events

1. 2026-06-17
   status $329,900 Pending 58 DOM
2. 2026-06-16
   days on market $329,900 Active Under Contract 58 DOM
3. 2026-06-15
   days on market $329,900 Active Under Contract 57 DOM
4. 2026-06-14
   days on market $329,900 Active Under Contract 55 DOM
5. 2026-06-10
   days on market $329,900 Active Under Contract 52 DOM
6. 2026-06-08
   days on market $329,900 Active Under Contract 50 DOM
7. 2026-06-07
   days on market $329,900 Active Under Contract 49 DOM
8. 2026-06-05
   days on market $329,900 Active Under Contract 46 DOM
9. 2026-06-03
   days on market $329,900 Active Under Contract 45 DOM
10. 2026-06-02
    days on market $329,900 Active Under Contract 44 DOM
11. 2026-06-01
    statusdays on market $329,900 Active Under Contract 43 DOM
12. 2026-05-31
    days on market $329,900 Active 42 DOM
13. 2026-05-31
    days on market $329,900 Active 41 DOM
14. 2026-05-18
    price $329,900
15. 2026-04-19
    listed $333,800 Active
16. 2020-09-04
    soldstatus $235,000
17. 2020-09-03
    soldstatus $235,000 Closed 450-char remark

    Show marketing remark (450 chars)

    This Merritt Island home is located in the heart of the island. This 4BR/2BA home with 1,708sf of living space, has tiling throughout the home. Kitchen boasts updated cabinets, corian countertop, and NEW stainless steel appliances. Two living spaces in the home, along with additional room for office. Completely fenced backyard. Roof 2015, AC 2019, Water Heater 2020, Electrical Panel 2020. Close to beaches, shopping, restaurants, and so much more!

18. 2020-07-28
    historical Contingent 450-char remark

    Show marketing remark (450 chars)

    This Merritt Island home is located in the heart of the island. This 4BR/2BA home with 1,708sf of living space, has tiling throughout the home. Kitchen boasts updated cabinets, corian countertop, and NEW stainless steel appliances. Two living spaces in the home, along with additional room for office. Completely fenced backyard. Roof 2015, AC 2019, Water Heater 2020, Electrical Panel 2020. Close to beaches, shopping, restaurants, and so much more!

19. 2020-07-17
    price $237,500 450-char remark

    Show marketing remark (450 chars)

    This Merritt Island home is located in the heart of the island. This 4BR/2BA home with 1,708sf of living space, has tiling throughout the home. Kitchen boasts updated cabinets, corian countertop, and NEW stainless steel appliances. Two living spaces in the home, along with additional room for office. Completely fenced backyard. Roof 2015, AC 2019, Water Heater 2020, Electrical Panel 2020. Close to beaches, shopping, restaurants, and so much more!

20. 2020-05-21
    listed $239,900 Active 450-char remark

    Show marketing remark (450 chars)

    This Merritt Island home is located in the heart of the island. This 4BR/2BA home with 1,708sf of living space, has tiling throughout the home. Kitchen boasts updated cabinets, corian countertop, and NEW stainless steel appliances. Two living spaces in the home, along with additional room for office. Completely fenced backyard. Roof 2015, AC 2019, Water Heater 2020, Electrical Panel 2020. Close to beaches, shopping, restaurants, and so much more!

ⓘ 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: $2,943 · $245/mo
• Projected year-2 tax: $2,943 · $245/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 8/10 Severe FEMA zone X (unshaded) · 97% 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: $34,137
• − Mortgage interest: −$18,480
• − Property taxes: −$2,943
• − Insurance: −$2,447
• − Repairs & maintenance: −$2,731
• − Management: −$2,731
• − Depreciation: −$9,597
• Taxable loss: −$4,791
• Est. tax savings @ 24.0%: +$1,150
• After-tax cash flow: $1,968/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,759
• Household income: $87,262
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 849.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 2% French/Haitian/Cajun 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: ▼ -168.76%
• Current HPI: 320.1966
• Rent YoY: ▲ 2.12%
• 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

+37.5% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $329,900 SCMLS
• 2026-04-19 Listed $333,800 SCMLS
• 2020-09-04 Sold (Public Records) $235,000 Public Records
• 2020-09-03 Sold (MLS) $235,000 SCMLS
• 2020-07-28 Contingent — SCMLS
• 2020-07-17 Price Changed $237,500 SCMLS
• 2020-05-21 Listed $239,900 SCMLS

Property tax history

+7.3%/yr

Latest (2025): $2,943 · +7.3% YoY. Source: county tax records.