185 Meadow Ave SE · Palm Bay, FL 32909

$439,990

4 bd · 2.0 ba · 2,087 sqft · Land · 83 Days on market

Built 2026 10,454 sqft lot

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Cash flow +4.2/30.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Imagine yourself building your custom dream home in this wonderful neighborhood in Palm Bay, FL. This beautiful lot has sewer and city water available making it most rare and extremely sought after. Located on a quiet residential street, in SE Palm Bay, just walking distance from Inspiration Park. Hurry as this lot won't be available for long. Residential sewer lot available in SE Palm Bay.

Key facts

• Butler's pantry
• Transom window
• Open-concept layout

Tags

• OVERSIZED WALK-IN SHOWER
• TRANSOM WINDOW
• FRAMELESS GLASS ENCLOSURE
• BUMP-AND-STAGGER CABINETRY
• BUTLER'S PANTRY
• OPEN-CONCEPT LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $440k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (39.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (46.9% below list).
• Recommended offer: $234k (46.9% 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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); 1123 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 35% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $47k of equity ($3k loan paydown + $44k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $75k; list at $440k implies a 487% 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 $233,741 (46.9% 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 83 days. Have you received any prior offers? Is the seller open to a 47% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.53% ✗
• Cap rate: 3.04%
• Cash-on-cash: -11.63%
• DSCR: 0.48
• GRM: 15.7

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: 16.3%
• Equity multiple: 2.34×
• Total profit: $165,198
• Equity at exit: $396,378

10-year hold

• IRR: 15.7%
• Equity multiple: 5.46×
• Total profit: $549,667
• Equity at exit: $854,804

Cash invested: $123,197 (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: 1123
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,337 high
• Mortgage (P&I): −$2,307
• Tax est. 1.5%: −$550 /mo · $6,600/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-1,194

Break-even live

Break-even rent $3,849

Max offer price $267,199

Occupancy floor —

Sensitivity live

Price	-10% $-890	-5% $-1,042	+0% $-1,194	+5% $-1,346	+10% $-1,498
Rent	-10% $-1,379	-5% $-1,286	+0% $-1,194	+5% $-1,102	+10% $-1,009
Rate	-1.0pp $-973	-0.5pp $-1,082	base $-1,194	+0.5pp $-1,308	+1.0pp $-1,424

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: $109,998
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Bordeaux Ave NE Palm Bay, FL	4.0	2.0	2083	$2,250	$1.08	16d	1	0.51mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	0.58mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	25d	1	0.63mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	25d	1	0.76mi
481 Firestone St NE Palm Bay, FL	4.0	2.0	1504	$2,100	$1.40	25d	1	0.84mi
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	25d	1	0.85mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	15d	1	0.91mi
463 Eldron Blvd NE Palm Bay, FL	4.0	2.0	1870	$2,800	$1.50	25d	1	1.03mi
549 Burlington Ave NE Palm Bay, FL	3.0	2.0	1608	$2,075	$1.29	16d	1	1.05mi
296 Croquet Ave NE Palm Bay, FL	4.0	2.0	2028	$2,300	$1.13	23d	1	1.07mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	16d	1	1.10mi
194 Holiday Park Blvd NE Palm Bay, FL	3.0	2.0	1404	$1,695	$1.21	25d	1	1.12mi
787 Seymour Rd NE Palm Bay, FL	3.0	2.0	2020	$2,250	$1.11	16d	1	1.45mi

Listing history 13 events

1. 2026-03-19
   status Pending
2. 2025-12-01
   listed $439,990 Active
3. 2025-09-24
   soldstatus $75,000
4. 2024-02-29
   status Pending 393-char remark

   Show marketing remark (393 chars)

   Imagine yourself building your custom dream home in this wonderful neighborhood in Palm Bay, FL. This beautiful lot has sewer and city water available making it most rare and extremely sought after. Located on a quiet residential street, in SE Palm Bay, just walking distance from Inspiration Park. Hurry as this lot won't be available for long. Residential sewer lot available in SE Palm Bay.

5. 2024-02-28
   historical 393-char remark

   Show marketing remark (393 chars)

   Imagine yourself building your custom dream home in this wonderful neighborhood in Palm Bay, FL. This beautiful lot has sewer and city water available making it most rare and extremely sought after. Located on a quiet residential street, in SE Palm Bay, just walking distance from Inspiration Park. Hurry as this lot won't be available for long. Residential sewer lot available in SE Palm Bay.

6. 2024-02-20
   listed $68,000 Active 393-char remark

   Show marketing remark (393 chars)

   Imagine yourself building your custom dream home in this wonderful neighborhood in Palm Bay, FL. This beautiful lot has sewer and city water available making it most rare and extremely sought after. Located on a quiet residential street, in SE Palm Bay, just walking distance from Inspiration Park. Hurry as this lot won't be available for long. Residential sewer lot available in SE Palm Bay.

7. 2022-05-11
   historical 335-char remark

   Show marketing remark (335 chars)

   Come Check Out This Spacious 0.24 Acre Lot!! On City Water and Sewer! This is a great neighborhood close to Restaurants, Shopping centers, and Highway Interstate 95! This lovely neighborhood has a neighborhood park called Inspiration Park with playgrounds, and a pavilion for family time barbecues!! Build Your Dream House Here Today!!

8. 2022-01-11
   price $65,000 335-char remark

   Show marketing remark (335 chars)

   Come Check Out This Spacious 0.24 Acre Lot!! On City Water and Sewer! This is a great neighborhood close to Restaurants, Shopping centers, and Highway Interstate 95! This lovely neighborhood has a neighborhood park called Inspiration Park with playgrounds, and a pavilion for family time barbecues!! Build Your Dream House Here Today!!

9. 2021-12-27
   price $60,000 335-char remark

   Show marketing remark (335 chars)

   Come Check Out This Spacious 0.24 Acre Lot!! On City Water and Sewer! This is a great neighborhood close to Restaurants, Shopping centers, and Highway Interstate 95! This lovely neighborhood has a neighborhood park called Inspiration Park with playgrounds, and a pavilion for family time barbecues!! Build Your Dream House Here Today!!

10. 2021-12-09
    listed $65,000 Active 335-char remark

    Show marketing remark (335 chars)

    Come Check Out This Spacious 0.24 Acre Lot!! On City Water and Sewer! This is a great neighborhood close to Restaurants, Shopping centers, and Highway Interstate 95! This lovely neighborhood has a neighborhood park called Inspiration Park with playgrounds, and a pavilion for family time barbecues!! Build Your Dream House Here Today!!

11. 2005-05-11
    soldstatus $29,900
12. 2005-05-09
    soldstatus $29,900
13. 2005-03-21
    listed $29,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $28,049
• − Mortgage interest: −$24,646
• − Property taxes: −$6,600
• − Insurance: −$2,200
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$12,800
• Taxable loss: −$22,685
• Est. tax savings @ 24.0%: +$5,444
• After-tax cash flow: $-8,885/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

+1371.5% since first listed

13 events — show timeline

• 2026-03-19 Pending — SCMLS
• 2025-12-01 Listed $439,990 SCMLS
• 2025-09-24 Sold (Public Records) $75,000 Public Records
• 2024-02-29 Pending — SCMLS
• 2024-02-28 Listing Removed — SCMLS
• 2024-02-20 Listed $68,000 SCMLS
• 2022-05-11 Listing Removed — SCMLS
• 2022-01-11 Price Changed $65,000 SCMLS
• 2021-12-27 Price Changed $60,000 SCMLS
• 2021-12-09 Listed $65,000 SCMLS
• 2005-05-11 Sold (MLS) $29,900 SCMLS
• 2005-05-09 Sold (Public Records) $29,900 Public Records
• 2005-03-21 Listed $29,900 SCMLS

Property tax history

+15.0%/yr

Latest (2025): $621 · +8.9% YoY. Source: county tax records.