1998 Blue Heron Dr · Viera East, FL 32940

$324,900

3 bd · 2.0 ba · 1,882 sqft · SingleFamily public records · 8 Days on market

Built 1992 10,454 sqft lot $37/mo HOA · 1% of rent

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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 +15.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks

If you are seeking an affordable home in a sought after neighborhood with top ranked schools, an oversized backyard, and don't mine doing updates to make it ''yours''. .. .. this home is for you! SELLER IS IN THE PROCESS OF HAVING A NEW ROOF INSTALLED1 Price reflects need for updates! Popular floor plan, fireplace, impact windows and garage door, updated master bath will get you off to a great start!

Key facts

• Updated master bath
• Top ranked schools
• Oversized backyard

Tags

• OVERSIZED BACKYARD
• TOP RANKED SCHOOLS
• FIREPLACE
• IMPACT WINDOWS
• UPDATED MASTER BATH

Property features AI

Finance

• HOA & community: Homeowners association (Crane Creek Unit 1); Annual association fees ($200 and $240 listed); Community amenities include jogging path, park, and playground; off-site management

Exterior

• Parking: 2-car garage
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Single-family residence; Faces east
• Construction: Frame and stucco construction; Shingle roof
• Exterior features: Impact windows; Storm shutters; Screened porch; Back yard fencing; Porch

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Entrance foyer; Primary bathroom with tub and separate shower; Split bedroom floor plan; Walk-in closets; Fireplace (1)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/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 $274k (15.7% below list).
• Recommended offer: $274k (15.7% 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); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 18% FRL vs 43% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 73% at this address vs 55% district-wide (+18 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; 22 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 $4k 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.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $112k; list at $325k implies a 191% 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 $273,831 (15.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 9.9

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $810
• Equity at exit: $100,944

10-year hold

• IRR: 4.7%
• Equity multiple: 1.53×
• Total profit: $47,796
• Equity at exit: $126,743

Cash invested: $90,972 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,738 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$177 /mo · $2,122/yr
• Insurance: −$135
• HOA: −$37
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $110

Break-even live

Break-even rent $2,599

Max offer price $324,900

Occupancy floor 91%

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1092 Egret Lake Way Melbourne, FL	4.0	3.0	2218	$2,750	$1.24	23d	1	0.32mi
2185 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1192	$2,365	$1.98	13d	17	0.58mi
2439 Casona Ln Melbourne, FL	1.0–2.0	1.0–2.0	964	$2,251	$2.34	13d	14	0.58mi
6411 Borasco Dr Melbourne, FL	2.0–3.0	2.0	1258	$2,195	$1.74	23d	1	0.60mi
6705 Shadow Creek Trl Melbourne, FL	1.0–3.0	1.0–2.0	1123	$2,795	$2.49	13d	25	0.60mi
2992 Rodina Dr Melbourne, FL	1.0–2.0	1.0–2.0	963	$2,585	$2.68	14d	8	0.63mi
2715 Vuldarno Ln Melbourne, FL	4.0	4.5	2511	$3,400	$1.35	14d	1	0.71mi
8880 Napolo Dr Melbourne, FL	4.0	3.5	2250	$3,600	$1.60	23d	1	0.76mi
2560 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1091	$2,660	$2.44	13d	14	0.84mi
1914 Jacques Dr Melbourne, FL	3.0	2.0	1575	$3,400	$2.16	23d	1	0.93mi
660 Wickham Lakes Dr Melbourne, FL	3.0	2.0	1521	$2,500	$1.64	23d	1	1.11mi
7578 Highsmith Rd Melbourne, FL	1.0–3.0	1.0–2.0	1155	$3,703	$3.20	13d	32	1.13mi
1622 Laramie Cir Melbourne, FL	3.0	2.0	1390	$2,600	$1.87	14d	1	1.19mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$3,420	$3.08	13d	27	1.33mi
2601 Trasona Dr Melbourne, FL	3.0	2.0	1656	$2,749	$1.66	23d	1	1.39mi
6848 Toland Dr #406 Melbourne, FL	2.0	2.0	1232	$2,000	$1.62	23d	1	1.42mi
300 Tuscany Way Melbourne, FL	1.0–3.0	1.0–2.0	1097	$2,269	$2.07	23d	12	1.43mi
1747 Sophias Dr #202 Melbourne, FL	3.0	2.0	1278	$2,200	$1.72	14d	1	1.45mi
1747 Sophias Dr Melbourne, FL	2.0–3.0	2.0	1149	$2,200	$1.91	23d	2	1.45mi
6828 Toland Dr #402 Melbourne, FL	2.0	2.0	1232	$2,500	$2.03	14d	1	1.48mi
6828 Toland Dr Melbourne, FL	2.0	2.0	1232	$2,248	$1.82	23d	2	1.50mi
6828 Toland Dr Melbourne, FL	2.0	2.0	1232	$2,248	$1.82	19d	2	1.50mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 7 events

1. 2026-06-18
   days on market $324,900 Active 8 DOM
2. 2026-06-17
   remarks 405-char remark
3. 2026-06-17
   statusdays on market $324,900 Active 7 DOM
4. 2026-06-16
   days on market $324,900 Active Under Contract 6 DOM
5. 2026-06-15
   statusdays on market $324,900 Active Under Contract 5 DOM
6. 2026-06-14
   remarks 348-char remark
7. 2026-06-14
   listed $324,900 Active 3 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: $2,122 · $177/mo
• Projected year-2 tax: $2,697 · $225/mo
• Expected delta: +$575/yr (+$48/mo · 27.1%)

ⓘ 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 · 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: $32,860
• − Mortgage interest: −$18,199
• − Property taxes: −$2,122
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − HOA: −$444
• − Depreciation: −$9,452
• Taxable loss: −$4,240
• Est. tax savings @ 24.0%: +$1,017
• After-tax cash flow: $2,340/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

+405.3% since first listed

4 events — show timeline

• 2026-06-09 Listed $324,900 SCMLS
• 2001-12-17 Sold (Public Records) $111,500 Public Records
• 1992-12-30 Sold (Public Records) $104,200 Public Records
• 1992-12-01 Sold (Public Records) $64,300 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,122 · +10.1% YoY. Source: county tax records.