355 Saint Charles Ave · North Merritt Island, FL 32953

$137,000

3 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 181 Days on market

Built 1972 7,405 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

Key facts

• Newer ac unit
• New roof
• 7,405 sq ft lot

Tags

• NEW ROOF
• NEWER AC UNIT
• NEW LIFETIME FLOORING
• SPACE IN BACK FOR RV OR BOAT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured home; One level; Faces west; Used as ranch/residential
• Construction: Stucco exterior; Metal roof; Built with conventional foundation (typical for manufactured homes)
• Exterior features: Screened patio/porch; Back yard fencing; Chain link fence; Paved road access

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fan(s); Pantry
• Laundry & utility: Unfurnished unit (no built-in washer/dryer listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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: Lewis Carroll Elementary School (math 72% / reading 70%, grade A-, #320 of 2,144 statewide, top 15%, 626 students, 38% 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) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 219 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 31% 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 $947 of loan paydown is wiped out by about $4k 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 + 2.1% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $22k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $137k implies a 621% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.60%
• DSCR: 2.27
• GRM: 5.1

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: 19.4%
• Equity multiple: 1.78×
• Total profit: $29,840
• Equity at exit: $20,427

10-year hold

• IRR: 27.1%
• Equity multiple: 3.28×
• Total profit: $87,639
• Equity at exit: $11,845

Cash invested: $38,360 (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: 219
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,251 medium
• Mortgage (P&I): −$718
• Tax from tax record: −$89 /mo · $1,063/yr
• Insurance: −$57
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $848

Break-even live

Break-even rent $1,178

Max offer price $137,000

Occupancy floor 57%

Sensitivity live

Price	-10% $925	-5% $886	+0% $848	+5% $809	+10% $770
Rent	-10% $670	-5% $759	+0% $848	+5% $937	+10% $1,026
Rate	-1.0pp $917	-0.5pp $883	base $848	+0.5pp $812	+1.0pp $776

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 Pine Island Rd Merritt Island, FL	3.0	2.0	1725	$2,450	$1.42	25d	1	1.05mi

Listing history 21 events

1. 2026-04-29
   price $137,000
2. 2026-02-15
   price $138,000
3. 2026-02-02
   price $143,000
4. 2026-01-14
   price $145,000
5. 2025-12-30
   price $149,000
6. 2025-12-17
   price $153,000
7. 2025-11-29
   listed $158,999 Active
8. 2022-12-30
   historical 355-char remark

   Show marketing remark (355 chars)

   RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

9. 2022-12-20
   historical 355-char remark

   Show marketing remark (355 chars)

   RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

10. 2022-11-14
    price $140,000 355-char remark

    Show marketing remark (355 chars)

    RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

11. 2022-10-14
    price $160,000 355-char remark

    Show marketing remark (355 chars)

    RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

12. 2022-09-21
    price $175,000 355-char remark

    Show marketing remark (355 chars)

    RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

13. 2022-08-23
    listed $140,000 Active 355-char remark

    Show marketing remark (355 chars)

    RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

14. 2022-08-23
    listed $199,900 Active 355-char remark

    Show marketing remark (355 chars)

    RENOVATED 3 BEDROOM, 2 BATH HOME WITH SPACIOUS FAMILY ROOM, DINING ROOM, FORMAL LIVING ROOM OR BONUS ROOM, UPDATED KITCHEN , WOOD CABINETS, UPDATED BATHROOMS, VINYL PLANK, TILE AND LAMINATE FLOORING, LARGE YARD FOR THE PETS AND KIDS, SCREENED PATIO, NEW AC AND WATER HEATER. CLOSE TO KENNEDY SPACE CENTER, BEACHES, ORLANDO, RESTAURNT'S, SHOPPING AND MORE!

15. 2016-08-16
    historical
16. 2013-12-31
    soldstatus $19,000
17. 2013-10-07
    listed $22,050
18. 2006-02-27
    soldstatus $61,000
19. 2006-02-23
    soldstatus $61,000
20. 2005-12-31
    listed $69,850
21. 2005-08-19
    listed $69,850

ⓘ 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: $1,063 · $89/mo
• Projected year-2 tax: $1,137 · $95/mo
• Expected delta: +$74/yr (+$6/mo · 6.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,012
• − Mortgage interest: −$7,674
• − Property taxes: −$1,063
• − Insurance: −$1,482
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$3,985
• Taxable income: $8,485
• Est. tax owed @ 24.0%: −$2,036
• After-tax cash flow: $8,136/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 — North Merritt Island

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

Census & demographics

• Census place: North Merritt Island, FL
• County: Brevard County · 602,871 people
• 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

+96.1% since first listed

21 events — show timeline

• 2026-04-29 Price Changed $137,000 SCMLS
• 2026-02-15 Price Changed $138,000 SCMLS
• 2026-02-02 Price Changed $143,000 SCMLS
• 2026-01-14 Price Changed $145,000 SCMLS
• 2025-12-30 Price Changed $149,000 SCMLS
• 2025-12-17 Price Changed $153,000 SCMLS
• 2025-11-29 Listed $158,999 SCMLS
• 2022-12-30 Listing Removed — SCMLS
• 2022-12-20 Listing Removed — SCMLS
• 2022-11-14 Price Changed $140,000 SCMLS
• 2022-10-14 Price Changed $160,000 SCMLS
• 2022-09-21 Price Changed $175,000 SCMLS
• 2022-08-23 Listed $199,900 SCMLS
• 2022-08-23 Listed $140,000 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2013-12-31 Sold (MLS) $19,000 SCMLS
• 2013-10-07 Listed $22,050 SCMLS
• 2006-02-27 Sold (Public Records) $61,000 Public Records
• 2006-02-23 Sold (MLS) $61,000 SCMLS
• 2005-12-31 Listed $69,850 SCMLS
• 2005-08-19 Listed $69,850 SCMLS

Property tax history

+5.9%/yr

Latest (2025): $1,063 · +14.7% YoY. Source: county tax records.