1423 Independence Ave · Viera East, FL 32940

$290,000

3 bd · 2.0 ba · 1,832 sqft · SingleFamily public records · 9 Days on market

Built 1992 6,970 sqft lot ↓ 35% since listing

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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 +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Just Reduced! Motivated Seller -- best value in sought after community in Indian River Colony Club. This charming expanded Madison model is move in ready and located in a resort-style country club community. Home boasts vaulted ceilings, bright open floor plan, roomy primary bedroom and secondary bedrooms. Primary bedroom includes two walk in closets, water closet, dual sinks, garden tub and shower, plus pocket doors accessing a functional Florida room. Kitchen maximizes space with additional built-in cabinetry with a butcher block top, stainless steel appliances, wood cabinets and solid surface countertops. Home includes an open air atrium, great for combining open space, natural light & the potential for a unique & inviting garden, or space for relaxation. Spacious paver lanai, perfectly designed for both everyday relaxation and effortless entertaining. Plenty of room to create an outdoor kitchen, dining set, and lounge area makes this lanai a true extension of your living space. Community offers top-notch amenities for an exceptional Florida lifestyle. 18-hole golf course, shuffleboard, bocce ball, tennis courts, fitness center, heated community swimming pool, full dining facilities with executive chef. Pet-friendly, 24-hr. gated community that has you feeling you are always on vacation with incredible home maintenance program.

Key facts

• Spacious paver lanai
• Fitness center
• Open air atrium

Tags

• VAULTED CEILINGS
• OPEN AIR ATRIUM
• SPACIOUS PAVER LANAI
• 18 HOLE GOLF COURSE
• FITNESS CENTER
• HEATED POOL

Property features AI

Finance

• Other: Senior community
• HOA & community: Part of Indian River Colony Club (association); Community amenities include clubhouse, fitness center, gated entry, golf course, maintained grounds and structures, park, RV/boat storage, security, shuffleboard, and tennis courts; Association fee covers cable TV, internet, grounds and structure maintenance, pest control, security, and other services

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: 24-hour security; Gated community with guard
• Utilities: Public sewer; Water connected; Electricity connected; Cable connected
• Home design: Single family residence; One-story entry level; West-facing
• Construction: Frame and stucco construction; Shingle roof; Built with foundation typical for area
• Exterior features: Covered front porch; Patio (screened); Storm shutters; Sprinklers in front and rear; Private asphalt road frontage

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms (all on entry level)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (electric, heat pump); Central air conditioning (electric)
• Interior features: Ceiling fans; His and hers closets; Primary bathroom with separate tub and shower; Split bedroom layout; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/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 $275k (5.2% below list).
• Recommended offer: $275k (5.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#141 in FL, #1,964 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute D+, 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: Quest Elementary School (math 83% / reading 80%, grade A+, #90 of 2,144 statewide, top 4%, 691 students, 20% FRL); John F. Kennedy Middle School (math 67% / reading 59%, grade B+, #111 of 571 statewide, top 20%, 673 students, 41% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 25% FRL vs 43% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 55% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.0%/yr); 583 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $1k appreciation (0.4% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.4% appreciation + 2.0% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $274,886 (5.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.95% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.09×
• Total profit: $6,994
• Equity at exit: $90,101

10-year hold

• IRR: 6.2%
• Equity multiple: 1.68×
• Total profit: $55,585
• Equity at exit: $113,128

Cash invested: $81,200 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 583
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,749 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$330 /mo · $3,955/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $200

Break-even live

Break-even rent $2,495

Max offer price $290,000

Occupancy floor 88%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1914 Jacques Dr Melbourne, FL	3.0	2.0	1575	$3,400	$2.16	23d	1	0.60mi
1747 Sophias Dr #202 Melbourne, FL	3.0	2.0	1278	$2,200	$1.72	14d	1	0.61mi
1747 Sophias Dr Melbourne, FL	2.0–3.0	2.0	1149	$2,200	$1.91	23d	2	0.61mi
1622 Laramie Cir Melbourne, FL	3.0	2.0	1390	$2,600	$1.87	14d	1	0.69mi
915 Starling Way Rockledge, FL	3.0	2.0	2202	$3,495	$1.59	19d	1	0.82mi
2061 Tiburon Ln Melbourne, FL	3.0	2.0	1506	$2,350	$1.56	23d	1	0.85mi
1092 Egret Lake Way Melbourne, FL	4.0	3.0	2218	$2,750	$1.24	23d	1	0.88mi
2185 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1192	$2,365	$1.98	13d	17	1.00mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$3,420	$3.08	13d	27	1.05mi
6411 Borasco Dr Melbourne, FL	2.0–3.0	2.0	1258	$2,195	$1.74	23d	1	1.09mi
2560 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1091	$2,660	$2.44	13d	14	1.30mi
1385 Fuji Dr Melbourne, FL	3.0	2.0	1770	$3,000	$1.69	23d	1	1.32mi
2992 Rodina Dr Melbourne, FL	1.0–2.0	1.0–2.0	963	$2,585	$2.68	14d	8	1.49mi
6705 Shadow Creek Trl Melbourne, FL	1.0–3.0	1.0–2.0	1123	$2,795	$2.49	13d	25	1.50mi

Listing history 7 events

1. 2026-06-18
   days on market $290,000 Active 9 DOM
2. 2026-06-17
   days on market $290,000 Active 8 DOM
3. 2026-06-16
   days on market $290,000 Active 7 DOM
4. 2026-06-15
   days on market $290,000 Active 6 DOM
5. 2026-06-14
   days on market $290,000 Active 4 DOM
6. 2026-06-10
   remarks 699-char remark
7. 2026-06-10
   listed $290,000 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: $3,955 · $330/mo
• Projected year-2 tax: $3,955 · $330/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $32,986
• − Mortgage interest: −$16,245
• − Property taxes: −$3,955
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − Depreciation: −$8,436
• Taxable loss: −$2,377
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $2,975/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 — Viera East

• Score: 79/100
• State rank: #141
• US rank: #1964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Viera East, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-35.0% since first listed

22 events — show timeline

• 2026-06-09 Listed $290,000 SCMLS
• 2026-05-05 Listing Removed — SCMLS
• 2026-01-30 Price Changed $295,000 SCMLS
• 2025-10-20 Price Changed $298,900 SCMLS
• 2025-06-06 Relisted — SCMLS
• 2025-05-30 Contingent — SCMLS
• 2025-05-05 Listed $299,900 SCMLS
• 2021-06-25 Sold (Public Records) $235,000 Public Records
• 2021-06-18 Sold (MLS) $235,000 SCMLS
• 2021-06-17 Pending — SCMLS
• 2021-05-19 Contingent — SCMLS
• 2021-05-13 Listed $220,000 SCMLS
• 2020-07-17 Sold (Public Records) $155,500 Public Records
• 2020-07-17 Sold (MLS) $155,500 SCMLS
• 2020-06-15 Contingent — SCMLS
• 2020-05-20 Price Changed $162,500 SCMLS
• 2020-05-20 Relisted — SCMLS
• 2020-02-17 Contingent — SCMLS
• 2019-09-17 Listed $159,000 SCMLS
• 1992-10-01 Sold (Public Records) $115,600 Public Records
• 1992-07-01 Sold (Public Records) $20,000 Public Records
• 1991-05-01 Sold (Public Records) $446,200 Public Records

Property tax history

+8.2%/yr

Latest (2025): $3,955 · +6.6% YoY. Source: county tax records.