925 Garden Rd · Merritt Island, FL 32952

$265,000

3 bd · 2.0 ba · 1,431 sqft · SingleFamily public records · 44 Days on market

Built 1963 9,148 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential in this spacious 4-bedroom, 2-bath home in desirable South Merritt Island! Situated on a corner lot, this concrete block property offers solid bones and key updates, including a 2019 roof and updated electrical panel. Inside, you'll find an indoor laundry room and a functional layout ready for your personal touch. While the home could use cosmetic updates, it presents a great opportunity to customize and add value. Additional features include a 1-car garage, irrigation system, and a storage shed for added convenience. Enjoy the freedom of no HOA in a well-established neighborhood close to everything the island has to offer. A great opportunity for investors or buyers looking to create their dream home! Conveniently located near shopping, dining, movie theater, 15 min to beach, 20 min to Patrick Air Force Base, 20 min to Port Canaveral, 25 min to KSC, NASA, SpaceX & Blue Origin, and 45 min to Orlando airport & area attractions!

Key facts

• Storage shed
• 2019 roof
• Irrigation system

Tags

• CORNER LOT
• 2019 ROOF
• UPDATED ELECTRICAL PANEL
• INDOOR LAUNDRY ROOM
• IRRIGATION SYSTEM
• STORAGE SHED

Property features AI

Finance

• Other: Homestead exempt; Zoned RU19
• HOA & community: No association; Pets allowed

Exterior

• Parking: Attached 1-car garage (13 x 25) with garage door opener; Driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected; Sprinkler well
• Home design: Single-family residence; One story; North-facing
• Construction: Block, concrete and stucco construction; Shingle roof; Slab foundation; Built as residential single-family
• Exterior features: Private mailbox; Sidewalks; Sliding doors; Wood fencing; Mature landscaping; Shed(s); Irrigation equipment; Corner lot; Paved lot and paved road (publicly maintained)

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Gas water heater
• Bedrooms: 4 bedrooms
• Flooring: Linoleum; Terrazzo; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Open floorplan; Living room/dining room combo; Thermostat
• Laundry & utility: Indoor laundry room with washer and electric dryer hookups; Inside utility / family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising fast (+6.5%/yr); 227 active listings in the ZIP; 16 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).
• This rent runs 33% of the median local income ($103k/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 $8k 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.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $74k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $55k; list at $265k implies a 383% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.09%
• DSCR: 1.45
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $2,851
• Equity at exit: $39,512

10-year hold

• IRR: 13.7%
• Equity multiple: 2.26×
• Total profit: $93,593
• Equity at exit: $22,912

Cash invested: $74,200 (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 32952

• Rents YoY: 6.5%
• Active inventory: 227
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,812 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $558

Break-even live

Break-even rent $2,106

Max offer price $265,000

Occupancy floor 75%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 S Courtenay Pkwy Merritt Island, FL	1.0–2.0	1.5–2.0	812	$1,625	$2.00	14d	7	0.44mi
489 Seacrest Ave Unit 1325661P Merritt Island, FL	3.0	2.0	1173	$4,320	$3.68	14d	1	0.47mi
1276 Gary Dr Merritt Island, FL	3.0	2.0	1248	$2,200	$1.76	23d	1	0.49mi
735 Pilot Ln #414 Merritt Island, FL	3.0	3.5	1715	$3,300	$1.92	23d	1	0.50mi
735 Pilot Ln #1009 Merritt Island, FL	2.0	2.0	1334	$2,850	$2.14	23d	1	0.52mi
735 Pilot Ln #503 Merritt Island, FL	2.0	2.0	1334	$2,700	$2.02	23d	1	0.53mi
735 Pilot Ln #507 Merritt Island, FL	2.0	2.0	1711	$2,800	$1.64	14d	1	0.54mi
480 Nancie Ave Merritt Island, FL	3.0	2.0	888	$2,100	$2.36	23d	1	0.54mi
701 Pilot Ln Unit 1499904P Merritt Island, FL	2.0	2.0	1323	$3,978	$3.01	21d	1	0.57mi
410 S Tropical Trl Merritt Island, FL	3.0	2.0	1573	$2,295	$1.46	23d	1	0.83mi
250 S Sykes Creek Pkwy Unit B510 Merritt Island, FL	2.0	2.0	1660	$2,600	$1.57	23d	1	1.11mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	14d	4	1.14mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	23d	4	1.14mi
200 S Sykes Creek Pkwy #702 Merritt Island, FL	2.0	2.0	1307	$2,390	$1.83	23d	1	1.16mi
205 Palmetto Ave Merritt Island, FL	2.0	2.0	1033	$1,625	$1.57	23d	2	1.28mi
140 McLeod St Unit 1513829P Merritt Island, FL	3.0	2.0	1323	$3,291	$2.49	19d	1	1.29mi

Listing history 17 events

1. 2026-06-18
   days on market $265,000 Active 44 DOM
2. 2026-06-17
   days on market $265,000 Active 43 DOM
3. 2026-06-16
   days on market $265,000 Active 42 DOM
4. 2026-06-15
   days on market $265,000 Active 41 DOM
5. 2026-06-14
   days on market $265,000 Active 39 DOM
6. 2026-06-10
   days on market $265,000 Active 36 DOM
7. 2026-06-08
   days on market $265,000 Active 34 DOM
8. 2026-06-07
   days on market $265,000 Active 33 DOM
9. 2026-06-05
   days on market $265,000 Active 30 DOM
10. 2026-06-03
    pricedays on market $265,000 Active 29 DOM
11. 2026-06-02
    days on market $275,000 Active 28 DOM
12. 2026-06-01
    days on market $275,000 Active 27 DOM
13. 2026-05-31
    days on market $275,000 Active 26 DOM
14. 2026-05-31
    days on market $275,000 Active 25 DOM
15. 2026-05-05
    listed $275,000 Active 975-char remark

    Show marketing remark (975 chars)

    Discover the potential in this spacious 4-bedroom, 2-bath home in desirable South Merritt Island! Situated on a corner lot, this concrete block property offers solid bones and key updates, including a 2019 roof and updated electrical panel. Inside, you'll find an indoor laundry room and a functional layout ready for your personal touch. While the home could use cosmetic updates, it presents a great opportunity to customize and add value. Additional features include a 1-car garage, irrigation system, and a storage shed for added convenience. Enjoy the freedom of no HOA in a well-established neighborhood close to everything the island has to offer. A great opportunity for investors or buyers looking to create their dream home! Conveniently located near shopping, dining, movie theater, 15 min to beach, 20 min to Patrick Air Force Base, 20 min to Port Canaveral, 25 min to KSC, NASA, SpaceX & Blue Origin, and 45 min to Orlando airport & area attractions!

16. 2026-05-05
    listed $275,000 Active

    Show marketing remark (975 chars)

    Discover the potential in this spacious 4-bedroom, 2-bath home in desirable South Merritt Island! Situated on a corner lot, this concrete block property offers solid bones and key updates, including a 2019 roof and updated electrical panel. Inside, you'll find an indoor laundry room and a functional layout ready for your personal touch. While the home could use cosmetic updates, it presents a great opportunity to customize and add value. Additional features include a 1-car garage, irrigation system, and a storage shed for added convenience. Enjoy the freedom of no HOA in a well-established neighborhood close to everything the island has to offer. A great opportunity for investors or buyers looking to create their dream home! Conveniently located near shopping, dining, movie theater, 15 min to beach, 20 min to Patrick Air Force Base, 20 min to Port Canaveral, 25 min to KSC, NASA, SpaceX & Blue Origin, and 45 min to Orlando airport & area attractions!

17. 1980-11-01
    soldstatus $54,900

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $2,200 · $183/mo
• Expected delta: +$1,036/yr (+$86/mo · 89.0%)

ⓘ 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) · 99% 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: $33,739
• − Mortgage interest: −$14,844
• − Property taxes: −$1,164
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,699
• − Management: −$2,699
• − Depreciation: −$7,709
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $6,091/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): 21,613
• Household income: $102,726
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 199.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 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: ▼ -177.56%
• Current HPI: 323.6021
• Rent YoY: ▲ 6.53%
• 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

+400.9% since first listed

3 events — show timeline

• 2026-05-05 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $275,000 SCMLS
• 1980-11-01 Sold (Public Records) $54,900 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,164 · +13.1% YoY. Source: county tax records.