3135 Shady Dell Ln #205 · Melbourne, FL 32935

$99,900

1 bd · 1.5 ba · 801 sqft · Condo public records · 79 Days on market

Built 1974 $265/mo HOA · 19% of rent

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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 +19.8/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

Key facts

• Screen porch
• $265 HOA
• Built 1974

Tags

• SCREEN PORCH
• ASSOCIATION HAS A POOL

Property features AI

Finance

• HOA & community: Homeowners association: Shady Dell Condominiums; HOA fee approximately $265.29 per month

Exterior

• Parking: Assigned parking
• Utilities: Public sewer; Water available; Electricity available; Cable available
• Home design: Condominium; 2-story building; Entry on level 2; East-facing
• Construction: Block construction
• Exterior features: Community pool not private; Lot described as Other

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom and 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished unit; Disposal

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Lyndon B. Johnson Middle School (math 40% / reading 42%, grade F, #353 of 571 statewide, top 63%, 610 students, 61% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 332 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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 79 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $35k; list at $100k implies a 186% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.37% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-11,736
• Equity at exit: $14,895

10-year hold

• IRR: -8.5%
• Equity multiple: 0.55×
• Total profit: $-12,649
• Equity at exit: $8,638

Cash invested: $27,972 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$524
• Tax from tax record: −$131 /mo · $1,569/yr
• Insurance: −$42
• HOA: −$265
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $119

Break-even live

Break-even rent $1,217

Max offer price $99,900

Occupancy floor 86%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3135 Shady Dell Ln Melbourne, FL	1.0–2.0	1.5–2.0	912	$1,250	$1.37	21d	4	0.05mi
3320 Rivercrest Dr Melbourne, FL	1.0–2.0	1.0–2.0	1000	$1,117	$1.12	13d	7	0.14mi
1432 Parkway Dr Unit 6b Melbourne, FL	2.0	1.0	800	$1,495	$1.87	23d	1	0.15mi
1440 Parkway Dr Unit 11a Melbourne, FL	1.0	1.0	700	$1,300	$1.86	23d	1	0.15mi
3150 N Harbor City Blvd #143 Melbourne, FL	2.0	2.0	1058	$1,700	$1.61	23d	1	0.15mi
1440 Parkway Dr Unit 7A Melbourne, FL	2.0	1.0	800	$1,495	$1.87	23d	1	0.15mi
2700 Croton Rd Melbourne, FL	1.0–2.0	1.0–2.0	870	$1,375	$1.58	14d	1	0.95mi
3051 Savannah Way Melbourne, FL	1.0–2.0	1.0–2.0	927	$1,249	$1.35	13d	26	0.98mi
2201 Hampton Greens Blvd Melbourne, FL	1.0–3.0	1.0–2.0	900	$1,483	$1.65	13d	10	1.06mi
1900 Post Rd Melbourne, FL	1.0–3.0	1.0–2.0	840	$1,359	$1.62	14d	10	1.11mi
2082 Foxwood Dr Melbourne, FL	2.0	2.0	975	$1,600	$1.64	14d	1	1.26mi
2414 Summerset Dr Melbourne, FL	2.0	2.0	1065	$1,450	$1.36	23d	1	1.28mi
2221 Pineapple Ave Unit 16 Melbourne, FL	1.0	1.0	800	$795	$0.99	23d	1	1.36mi
217 Bristol Ln Melbourne, FL	2.0	2.0	890	$1,395	$1.57	23d	1	1.38mi
177 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,300	$1.46	23d	1	1.39mi
181 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,400	$1.57	23d	1	1.39mi
265 Ulster Ct Melbourne, FL	1.0	1.0	602	$1,300	$2.16	23d	1	1.42mi
2960 Clearlake Dr #3 Melbourne, FL	2.0	1.0	1075	$1,650	$1.53	23d	1	1.42mi
2504 Bogey Ln Apt C Melbourne, FL	2.0	2.0	1002	$1,500	$1.50	23d	1	1.45mi
2420 Central Park Dr Melbourne, FL	1.0–3.0	1.0–2.0	1045	$1,499	$1.43	13d	11	1.49mi
2242 Flower Tree Cir Melbourne, FL	2.0	2.0	879	$1,300	$1.48	23d	1	1.50mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $99,900 Active 79 DOM
2. 2026-06-17
   days on market $99,900 Active 78 DOM
3. 2026-06-16
   days on market $99,900 Active 77 DOM
4. 2026-06-15
   days on market $99,900 Active 76 DOM
5. 2026-06-14
   days on market $99,900 Active 74 DOM
6. 2026-06-10
   days on market $99,900 Active 71 DOM
7. 2026-06-08
   days on market $99,900 Active 69 DOM
8. 2026-06-07
   days on market $99,900 Active 68 DOM
9. 2026-06-05
   days on market $99,900 Active 65 DOM
10. 2026-06-03
    days on market $99,900 Active 64 DOM
11. 2026-06-02
    days on market $99,900 Active 63 DOM
12. 2026-06-01
    days on market $99,900 Active 62 DOM
13. 2026-05-31
    days on market $99,900 Active 61 DOM
14. 2026-05-31
    days on market $99,900 Active 60 DOM
15. 2026-02-28
    historical 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

16. 2026-01-08
    price $114,900 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

17. 2026-01-05
    price $114,000 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

18. 2025-12-04
    price $124,000 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

19. 2025-11-14
    price $129,000 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

20. 2025-11-13
    price $124,000 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

21. 2025-09-10
    listed $129,000 Active 235-char remark

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

22. 2025-09-10
    listed $99,900 Active

    Show marketing remark (235 chars)

    Great location just off of US 1. 2nd floor unit features a larger 1 bedroom with 2 bathrooms and a eat-in kitchen. Condo has a screen porch and a the association has a pool. Great starter home or investment home. Will not last long.

23. 2016-08-16
    historical 470-char remark

    Show marketing remark (470 chars)

    Great little community right next to the Indian River. This is not a 55 and over unit. Community has lots of ammenties including pool, rec room, shuffleboard, handball court, basketball, new grills w/ picnic tables and a nice common patio & grilling area. Unit has been totally updated and is in move in condition. All appliances are new. Nice screened porch in the back overlooking preserve thats very private. Utility room. Good location near beach and shopping.

24. 2014-11-07
    soldstatus $34,900
25. 2014-11-06
    soldstatus $34,900
26. 2014-05-01
    listed $34,900
27. 2007-05-20
    listed $47,900 470-char remark

    Show marketing remark (470 chars)

    Great little community right next to the Indian River. This is not a 55 and over unit. Community has lots of ammenties including pool, rec room, shuffleboard, handball court, basketball, new grills w/ picnic tables and a nice common patio & grilling area. Unit has been totally updated and is in move in condition. All appliances are new. Nice screened porch in the back overlooking preserve thats very private. Utility room. Good location near beach and shopping.

28. 2006-12-19
    soldstatus $70,000
29. 1994-12-12
    soldstatus $24,500
30. 1989-07-01
    soldstatus $28,500
31. 1974-06-01
    soldstatus $18,100

ⓘ 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: $1,569 · $131/mo
• Projected year-2 tax: $1,569 · $131/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 · 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: $16,410
• − Mortgage interest: −$5,596
• − Property taxes: −$1,569
• − Insurance: −$500
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − HOA: −$3,180
• − Depreciation: −$2,906
• Taxable income: $34
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $1,420/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

+534.8% since first listed

17 events — show timeline

• 2026-02-28 Listing Removed — SCMLS
• 2026-01-08 Price Changed $114,900 SCMLS
• 2026-01-05 Price Changed $114,000 SCMLS
• 2025-12-04 Price Changed $124,000 SCMLS
• 2025-11-14 Price Changed $129,000 SCMLS
• 2025-11-13 Price Changed $124,000 SCMLS
• 2025-09-10 Listed $99,900 SCMLS
• 2025-09-10 Listed $129,000 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2014-11-07 Sold (Public Records) $34,900 Public Records
• 2014-11-06 Sold (MLS) $34,900 SCMLS
• 2014-05-01 Listed $34,900 SCMLS
• 2007-05-20 Listed $47,900 SCMLS
• 2006-12-19 Sold (Public Records) $70,000 Public Records
• 1994-12-12 Sold (Public Records) $24,500 Public Records
• 1989-07-01 Sold (Public Records) $28,500 Public Records
• 1974-06-01 Sold (Public Records) $18,100 Public Records

Property tax history

+10.2%/yr

Latest (2025): $1,569 · -2.9% YoY. Source: county tax records.