2971 SE Gabrysh Ave SE · Palm Bay, FL 32909

$294,000

3 bd · 2.0 ba · 1,674 sqft · SingleFamily public records · 94 Days on market

Built 2006 10,019 sqft lot

---

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 +13.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

Key facts

• 10x16 workshop
• Huge fenced yard
• New a/c

Tags

• NEW ROOF
• NEW A/C
• HUGE FENCED YARD
• 10X16 WORKSHOP
• OVERSIZE ENCLOSED PORCH
• GENERATOR HOOKUP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $294k.

Deal economics

• At list price, monthly cash flow is $-14 ($-174/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (25.0% below list).
• Recommended offer: $220k (25.0% 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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $31k of equity ($2k loan paydown + $29k 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 $82k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 $110k; list at $294k implies a 167% 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 $220,482 (25.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.75% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 11.1

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: 24.3%
• Equity multiple: 2.95×
• Total profit: $160,557
• Equity at exit: $264,858

10-year hold

• IRR: 21.7%
• Equity multiple: 6.79×
• Total profit: $476,391
• Equity at exit: $571,177

Cash invested: $82,320 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,205 high
• Mortgage (P&I): −$1,542
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-14

Break-even live

Break-even rent $2,223

Max offer price $291,440

Occupancy floor 96%

Sensitivity live

Price	-10% $152	-5% $69	+0% $-14	+5% $-98	+10% $-181
Rent	-10% $-189	-5% $-102	+0% $-14	+5% $73	+10% $160
Rate	-1.0pp $134	-0.5pp $60	base $-14	+0.5pp $-91	+1.0pp $-168

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: $73,500
• Closing costs: $8,820
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	15d	1	0.28mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	24d	1	0.37mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.38mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	14d	1	0.44mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	15d	1	0.45mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	24d	1	0.47mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.48mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	14d	1	0.52mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	22d	1	0.56mi
3219 Hainsworth Ave SE Palm Bay, FL	3.0	2.0	1219	$2,100	$1.72	15d	1	0.62mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	24d	1	0.71mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	24d	1	0.93mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	22d	1	0.95mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	15d	1	0.96mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	0.97mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	15d	1	0.98mi
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	15d	1	1.01mi
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	24d	1	1.13mi
830 Painesville St SE Palm Bay, FL	3.0	2.0	2029	$2,220	$1.09	15d	1	1.24mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	24d	1	1.40mi
583 Halifax St SW Palm Bay, FL	4.0	2.0	1833	$2,075	$1.13	14d	1	1.47mi

Listing history 18 events

1. 2025-10-24
   status Pending
2. 2025-07-22
   listed $294,000 Active
3. 2025-07-21
   historical 1012-char remark

   Show marketing remark (1012 chars)

   Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

4. 2025-05-15
   price $294,500 1012-char remark

   Show marketing remark (1012 chars)

   Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

5. 2025-04-20
   price $299,975 1012-char remark

   Show marketing remark (1012 chars)

   Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

6. 2025-03-10
   price $302,000 1012-char remark

   Show marketing remark (1012 chars)

   Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

7. 2025-02-12
   listed $305,000 Active 1012-char remark

   Show marketing remark (1012 chars)

   Why wait to build when you can own right away? This home has a 2024 roof, 2019 A/C and 2023 hot water heater. Huge formal living room & dining area with tile floors that look like wood. The family room with built-in features sure does make this home very spacious. Kitchen has granite counters, back splash, two pantries and an eat-in area that could also be used as small office space which is what the sellers are currently doing. Bedrooms are all really nice sizes. Big back porch w/ vinyl windows would be really great for a game room for entertaining family & friends, a shed for additional storage and fenced backyard. Screened garage, water system is owned, alarm system owned but not monitored. What an adorable small pond in the front door entry area. Hurricane shutters with home convey as well. Close to all the shops at Bayside Lakes, churches, banks, restaurants and schools. Come make this your very own piece of paradise with just a little interior painting with your favorite colors.

8. 2018-03-14
   historical 226-char remark

   Show marketing remark (226 chars)

   Short Sale Approved. GREAT DEAL ON THIS HOME! GRANITE COUNTER TOPS IN KITCHEN, CERAMIC TILE FLOORING IN KITCHEN, BREAKFAST AREA AND BATHS. CULTURED MARBLE BATH VANITIES, ROUND BEADED WALLS. PRE-WIRED FOR A GENERATOR, AND MORE.

9. 2010-06-25
   soldstatus $110,000
10. 2010-06-24
    soldstatus $110,000
11. 2010-04-23
    listed $104,900
12. 2008-02-10
    listed $114,000 226-char remark

    Show marketing remark (226 chars)

    Short Sale Approved. GREAT DEAL ON THIS HOME! GRANITE COUNTER TOPS IN KITCHEN, CERAMIC TILE FLOORING IN KITCHEN, BREAKFAST AREA AND BATHS. CULTURED MARBLE BATH VANITIES, ROUND BEADED WALLS. PRE-WIRED FOR A GENERATOR, AND MORE.

13. 2006-06-28
    soldstatus $192,000
14. 2006-06-20
    soldstatus $192,000
15. 2006-03-01
    listed $192,000
16. 2005-02-23
    soldstatus $37,500
17. 2005-02-09
    soldstatus $37,500
18. 2004-09-24
    listed $38,900

ⓘ 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: $1,104 · $92/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$1,336/yr (+$111/mo · 121.0%)

ⓘ 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 9/10 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: $26,458
• − Mortgage interest: −$16,469
• − Property taxes: −$1,104
• − Insurance: −$1,470
• − Repairs & maintenance: −$2,117
• − Management: −$2,117
• − Depreciation: −$8,553
• Taxable loss: −$5,371
• Est. tax savings @ 24.0%: +$1,289
• After-tax cash flow: $1,115/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

+655.8% since first listed

18 events — show timeline

• 2025-10-24 Pending — SCMLS
• 2025-07-22 Listed $294,000 SCMLS
• 2025-07-21 Listing Removed — SCMLS
• 2025-05-15 Price Changed $294,500 SCMLS
• 2025-04-20 Price Changed $299,975 SCMLS
• 2025-03-10 Price Changed $302,000 SCMLS
• 2025-02-12 Listed $305,000 SCMLS
• 2018-03-14 Listing Removed — SCMLS
• 2010-06-25 Sold (Public Records) $110,000 Public Records
• 2010-06-24 Sold (MLS) $110,000 SCMLS
• 2010-04-23 Listed $104,900 SCMLS
• 2008-02-10 Listed $114,000 SCMLS
• 2006-06-28 Sold (Public Records) $192,000 Public Records
• 2006-06-20 Sold (MLS) $192,000 SCMLS
• 2006-03-01 Listed $192,000 SCMLS
• 2005-02-23 Sold (Public Records) $37,500 Public Records
• 2005-02-09 Sold (MLS) $37,500 SCMLS
• 2004-09-24 Listed $38,900 SCMLS

Property tax history

+2.0%/yr

Latest (2025): $1,104 · +3.4% YoY. Source: county tax records.