1060 San Matio St SE · Palm Bay, FL 32909

$324,900

4 bd · 2.0 ba · 1,876 sqft · Land · 48 Days on market

Built 2026 10,019 sqft lot

---

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
• Cash flow +7.0/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0

Listing remarks MLS

Build your dream home on this residential lot located in the desirable SE section of Palm Bay. Situated on a quiet street with paved road access and established homes nearby, this property offers a great opportunity for homeowners or investors looking to build in a growing area. This lot will utilize well water and sewer, giving you flexibility while avoiding city water fees. Enjoy the peaceful surroundings while still being conveniently located near shopping, dining, schools, and everyday amenities. Easy access to Malabar Road and I-95 makes commuting a breeze. Whether you're ready to build now or invest for the future, this is a fantastic opportunity to secure land in one of Palm Bay's expanding neighborhoods.

Key facts

• Pantry
• Open floor plan
• Flex space

Tags

• OPEN FLOOR PLAN
• LARGE ISLAND
• STAINLESS APPLIANCES
• PANTRY
• FLEX SPACE
• EXTENDED REAR PATIO

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: Aerobic septic system; Cable available
• Home design: Single-family residence; One story; Faces northwest; New construction
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Patio; Storm shutters; Drainage canal on lot

Interior

• Kitchen: Island; Pantry; Dishwasher; Electric cooktop / electric range; Microwave; Electric water heater
• Bedrooms: Primary bedroom on first floor with walk-in closet, ensuite bathroom with walk-in shower and dual sinks; Three additional first-floor bedrooms — two with built-in closets and one with walk-in closet (total 4 bedrooms)
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Open floorplan / great room; Pantry; Primary bathroom with walk-in shower (no tub); Smart home features including smart thermostat; Walk-in closet(s); Flex space suitable for dining, office, or fitness
• Laundry & utility: Walk-through laundry room that leads to the 2-car garage

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $325k.

Deal economics

• At list price, monthly cash flow is $-471 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (30.9% below list).
• Recommended offer: $225k (30.9% 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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% 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 schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% 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 $35k of equity ($2k loan paydown + $32k 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 ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($315k) 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 $38k; list at $325k implies a 755% 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 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,583 (30.9% 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 48 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.69% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.21%
• DSCR: 0.72
• GRM: 12.1

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: 20.1%
• Equity multiple: 2.63×
• Total profit: $148,502
• Equity at exit: $292,696

10-year hold

• IRR: 18.5%
• Equity multiple: 6.10×
• Total profit: $464,156
• Equity at exit: $631,209

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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,246 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,874/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-471

Break-even live

Break-even rent $2,842

Max offer price $256,730

Occupancy floor —

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 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	23d	1	0.23mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	23d	1	0.57mi
1165 Rabbit St SE Palm Bay, FL	3.0	2.0	1994	$1,895	$0.95	19d	1	0.71mi
1454 Graves St SE Palm Bay, FL	3.0	2.0	1621	$2,100	$1.30	14d	1	0.73mi
1150 Tiger St SE Palm Bay, FL	3.0	2.0	1690	$1,950	$1.15	14d	1	0.82mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	23d	1	0.85mi
2242 Mantilla Ave SE Palm Bay, FL	5.0	2.0	2516	$2,176	$0.86	21d	1	0.88mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	23d	1	0.89mi
1406 Martinez St SE Palm Bay, FL	4.0	2.0	2083	$2,100	$1.01	23d	1	0.94mi
1416 Martinez St SE Palm Bay, FL	3.0	2.0	1747	$2,000	$1.14	14d	1	0.95mi
830 Painesville St SE Palm Bay, FL	3.0	2.0	2029	$2,220	$1.09	14d	1	1.00mi
1660 Lizette St SE Unit 1 Palm Bay, FL	4.0	2.0	1736	$2,199	$1.27	23d	1	1.08mi
1677 Lizette St SE Unit A Palm Bay, FL	3.0	2.0	2080	$1,900	$0.91	14d	1	1.08mi
1150 Raoul St SE Palm Bay, FL	4.0	2.0	1787	$2,300	$1.29	23d	1	1.10mi
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	23d	1	1.10mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	21d	1	1.18mi
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	14d	1	1.21mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	14d	1	1.22mi
1625 Waneta St SE Palm Bay, FL	3.0	2.0	1631	$2,100	$1.29	19d	1	1.23mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	14d	1	1.24mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	21d	1	1.28mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	1.28mi
1530 Paley Cir SE Palm Bay, FL	4.0	2.0	1842	$2,095	$1.14	14d	1	1.32mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	23d	1	1.45mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	23d	1	1.45mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	23d	1	1.50mi

Listing history 27 events

1. 2026-06-18
   days on market $324,900 Active 48 DOM
2. 2026-06-17
   days on market $324,900 Active 47 DOM
3. 2026-06-16
   days on market $324,900 Active 46 DOM
4. 2026-06-15
   days on market $324,900 Active 45 DOM
5. 2026-06-14
   days on market $324,900 Active 43 DOM
6. 2026-06-10
   days on market $324,900 Active 40 DOM
7. 2026-06-08
   days on market $324,900 Active 38 DOM
8. 2026-06-07
   days on market $324,900 Active 37 DOM
9. 2026-06-05
   days on market $324,900 Active 34 DOM
10. 2026-06-03
    days on market $324,900 Active 33 DOM
11. 2026-06-02
    days on market $324,900 Active 32 DOM
12. 2026-06-01
    days on market $324,900 Active 31 DOM
13. 2026-05-31
    days on market $324,900 Active 30 DOM
14. 2026-05-31
    days on market $324,900 Active 29 DOM
15. 2026-05-11
    status Pending 721-char remark

    Show marketing remark (721 chars)

    Build your dream home on this residential lot located in the desirable SE section of Palm Bay. Situated on a quiet street with paved road access and established homes nearby, this property offers a great opportunity for homeowners or investors looking to build in a growing area. This lot will utilize well water and sewer, giving you flexibility while avoiding city water fees. Enjoy the peaceful surroundings while still being conveniently located near shopping, dining, schools, and everyday amenities. Easy access to Malabar Road and I-95 makes commuting a breeze. Whether you're ready to build now or invest for the future, this is a fantastic opportunity to secure land in one of Palm Bay's expanding neighborhoods.

16. 2026-05-11
    soldstatus $38,000 Closed 721-char remark

    Show marketing remark (721 chars)

    Build your dream home on this residential lot located in the desirable SE section of Palm Bay. Situated on a quiet street with paved road access and established homes nearby, this property offers a great opportunity for homeowners or investors looking to build in a growing area. This lot will utilize well water and sewer, giving you flexibility while avoiding city water fees. Enjoy the peaceful surroundings while still being conveniently located near shopping, dining, schools, and everyday amenities. Easy access to Malabar Road and I-95 makes commuting a breeze. Whether you're ready to build now or invest for the future, this is a fantastic opportunity to secure land in one of Palm Bay's expanding neighborhoods.

17. 2026-05-01
    listed $324,900 Active
18. 2026-04-28
    listed $324,900 Active 1489-char remark

    Show marketing remark (1489 chars)

    Welcome to The Marigold - Elegant, Spacious Living Discover The Marigold in Melbourne, a charming and practical four-bedroom home designed with your family's comfort in mind. Enter through the modest front porch into a welcoming foyer that leads you past the bedrooms and into the impressive great room-a perfect space for relaxing and entertaining. The large eat-in kitchen features a convenient island ideal for cooking, dining, or hosting guests. Just off the kitchen, a spacious flex area provides endless possibilities-whether you choose a cozy breakfast nook or an informal seating space. Extend your living outdoors with an optional concrete patio off the flex space. This home includes four bedrooms, highlighted by a private owner's suite at the back of the house, complete with a generous walk-in closet and a luxurious bathroom retreat. Bedrooms two and three share a full bathroom, and the third bedroom at the front offers its own sizable walk-in closet. With 1,876 finished square feet, The Marigold offers plenty of space to accommodate growing families comfortably. The laundry room is thoughtfully tucked behind the kitchen with convenient access to the garage, doubling as a practical mudroom. The Marigold also includes a 2-car garage designed to fit two vehicles-or one vehicle plus a workbench or storage area to suit your needs. Make your new home truly yours by selecting from customizable color packages tailored to your style. Schedule a tour today with one of our

19. 2026-04-10
    historical Active Under Contract 721-char remark

    Show marketing remark (721 chars)

    Build your dream home on this residential lot located in the desirable SE section of Palm Bay. Situated on a quiet street with paved road access and established homes nearby, this property offers a great opportunity for homeowners or investors looking to build in a growing area. This lot will utilize well water and sewer, giving you flexibility while avoiding city water fees. Enjoy the peaceful surroundings while still being conveniently located near shopping, dining, schools, and everyday amenities. Easy access to Malabar Road and I-95 makes commuting a breeze. Whether you're ready to build now or invest for the future, this is a fantastic opportunity to secure land in one of Palm Bay's expanding neighborhoods.

20. 2026-02-25
    listed $45,000 Active 721-char remark

    Show marketing remark (721 chars)

    Build your dream home on this residential lot located in the desirable SE section of Palm Bay. Situated on a quiet street with paved road access and established homes nearby, this property offers a great opportunity for homeowners or investors looking to build in a growing area. This lot will utilize well water and sewer, giving you flexibility while avoiding city water fees. Enjoy the peaceful surroundings while still being conveniently located near shopping, dining, schools, and everyday amenities. Easy access to Malabar Road and I-95 makes commuting a breeze. Whether you're ready to build now or invest for the future, this is a fantastic opportunity to secure land in one of Palm Bay's expanding neighborhoods.

21. 2025-08-03
    historical
22. 2025-02-08
    listed $52,000 Active
23. 2016-08-16
    historical
24. 2004-12-16
    soldstatus $31,500
25. 2004-12-13
    soldstatus $31,500
26. 2004-10-04
    listed $32,900
27. 2004-07-10
    listed $18,000

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥106°F today · 16 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: $26,950
• − Mortgage interest: −$18,199
• − Property taxes: −$4,874
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,156
• − Management: −$2,156
• − Depreciation: −$9,452
• Taxable loss: −$11,511
• Est. tax savings @ 24.0%: +$2,763
• After-tax cash flow: $-2,891/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

+111.1% since first listed

13 events — show timeline

• 2026-05-11 Pending — SCMLS
• 2026-05-11 Sold (MLS) $38,000 SCMLS
• 2026-05-01 Listed $324,900 SCMLS
• 2026-04-28 Listed $324,900 Zillow
• 2026-04-10 Contingent — SCMLS
• 2026-02-25 Listed $45,000 SCMLS
• 2025-08-03 Listing Removed — SCMLS
• 2025-02-08 Listed $52,000 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2004-12-16 Sold (Public Records) $31,500 Public Records
• 2004-12-13 Sold (MLS) $31,500 SCMLS
• 2004-10-04 Listed $32,900 SCMLS
• 2004-07-10 Listed $18,000 SCMLS

Property tax history

+11.3%/yr

Latest (2025): $330 · +9.0% YoY. Source: county tax records.