1918 Sago Palm St NE · Palm Bay, FL 32905

$160,000

2 bd · 2.0 ba · 1,302 sqft · Manufactured public records · 259 Days on market

Built 1983 4,792 sqft lot

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks

Completely Renovated Manufactured Home in desirable 55+ community of Palm Bay Colony. This home offers spacious and modern kitchen with a breakfast bar and lots of cabinets. The beautiful hardwood and tile flooring throughout the home offers a touch of elegance and easy maintenance. Community is conveniently located to I-95, US 1, downtown Melbourne, shopping, dining, and just 10 minutes from the beach. This is Home is Ready for Investors who would like to generate immediate income with tenants already in Place.

Key facts

• Modern kitchen
• Immediate income
• Breakfast bar

Tags

• RENOVATED MANUFACTURED HOME
• MODERN KITCHEN
• BREAKFAST BAR
• HARDWOOD AND TILE FLOORING
• IMMEDIATE INCOME

Property features AI

Finance

• HOA & community: Senior community

Exterior

• Parking: 1-space carport
• Utilities: Public sewer; Cable available; Electricity available
• Home design: Manufactured home; North-facing
• Construction: Other construction materials
• Exterior features: Porch with screened area; Other lot features

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

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: Palm Bay Elementary School (math 35% / reading 35%, grade F, #1,697 of 2,144 statewide, top 80%, 586 students, 74% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 69% FRL vs 43% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 55% district-wide (-22 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $160k implies a 150% 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 $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.05% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.62×
• Total profit: $-16,921
• Equity at exit: $23,857

10-year hold

• IRR: -6.3%
• Equity multiple: 0.65×
• Total profit: $-15,744
• Equity at exit: $13,834

Cash invested: $44,800 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,679 high
• Mortgage (P&I): −$839
• Tax from tax record: −$202 /mo · $2,429/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $218

Break-even live

Break-even rent $1,403

Max offer price $160,000

Occupancy floor 82%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1894 Coco Plum St NE Palm Bay, FL	2.0	2.0	1188	$1,200	$1.01	19d	1	0.08mi
1924 Seagrape St NE Palm Bay, FL	2.0	2.0	1206	$1,575	$1.31	14d	1	0.21mi
4317 Jetty Ln NE Palm Bay, FL	3.0	2.0	1699	$2,200	$1.29	21d	1	0.22mi
3506 Mount Carmel Ln Melbourne, FL	3.0	2.0	1815	$2,800	$1.54	23d	1	0.22mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	23d	1	0.23mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	14d	47	0.34mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	14d	33	0.35mi
520 Benton Dr Melbourne, FL	3.0	2.0	1281	$1,850	$1.44	23d	1	0.55mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$1,740	$1.59	14d	20	0.58mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	23d	12	0.67mi
342 Crown Blvd Melbourne, FL	3.0	2.0	1224	$1,900	$1.55	23d	1	0.72mi
3711 Vista Oaks Cir NE Palm Bay, FL	2.0	1.5	1236	$1,500	$1.21	21d	1	0.75mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	23d	1	0.77mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	23d	5	0.88mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,382	$1.27	14d	6	0.93mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	23d	1	0.96mi
2308 Shenandoah Rd Unit B Palm Bay, FL	3.0	1.5	1612	$1,975	$1.23	14d	1	0.96mi
2308 Shenandoah Rd Unit A Palm Bay, FL	3.0	1.0	1612	$1,600	$0.99	23d	1	0.96mi
2394 Shenandoah Rd NE Palm Bay, FL	3.0	2.0	1632	$2,000	$1.23	23d	1	0.97mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	0.98mi
4315 S Babcock St Melbourne, FL	1.0–3.0	1.0–2.0	996	$1,738	$1.74	14d	15	1.09mi
1300 Arlington Ln NE #125 Palm Bay, FL	2.0	2.5	1140	$1,500	$1.32	19d	1	1.11mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	23d	1	1.13mi
2168 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,775	$1.39	14d	1	1.17mi
2106 Tarrytown Ln NE Palm Bay, FL	3.0	2.0	1281	$1,900	$1.48	14d	1	1.19mi
3101 Wiley Ave Melbourne, FL	3.0	2.0	1185	$1,499	$1.26	23d	1	1.24mi
343 Talbot St Melbourne, FL	3.0	2.0	1355	$1,699	$1.25	23d	1	1.26mi
3595 Misty Oak Dr Melbourne, FL	1.0–2.0	1.0–2.0	747	$1,550	$2.07	14d	6	1.32mi
3522 D'Avinci Way Melbourne, FL	2.0	2.0	875	$1,625	$1.86	23d	1	1.44mi
188 Hidden Woods Pl Melbourne, FL	3.0	2.5	1648	$2,100	$1.27	23d	1	1.45mi
3151 S Babcock St Melbourne, FL	1.0–2.0	1.0–2.0	807	$1,595	$1.98	14d	10	1.45mi
2700 Carlson Cir Melbourne, FL	1.0–2.0	1.0–2.0	879	$1,242	$1.41	23d	1	1.48mi
3502 D'Avinci Way Melbourne, FL	2.0–3.0	2.0	998	$1,480	$1.48	14d	15	1.50mi

Listing history 18 events

1. 2026-04-07
   price $160,000
2. 2026-03-09
   status Active
3. 2026-02-13
   status Active
4. 2026-02-04
   status Pending
5. 2026-02-04
   historical
6. 2026-01-16
   price $170,000
7. 2026-01-05
   status Active
8. 2026-01-04
   historical
9. 2025-09-19
   price $175,000
10. 2025-08-30
    price $180,000
11. 2025-08-04
    listed $185,000 Active
12. 2024-03-08
    historical $1,500
13. 2024-01-30
    listed $1,500
14. 2003-06-16
    soldstatus $64,000
15. 2002-07-19
    soldstatus $59,000
16. 1997-04-03
    soldstatus $38,000
17. 1987-06-01
    soldstatus $60,000
18. 1982-07-01
    soldstatus $10,000

ⓘ 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: $2,429 · $202/mo
• Projected year-2 tax: $2,429 · $202/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,148
• − Mortgage interest: −$8,962
• − Property taxes: −$2,429
• − Insurance: −$800
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$4,655
• Taxable income: $78
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $2,600/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+1500.0% since first listed

18 events — show timeline

• 2026-04-07 Price Changed $160,000 SCMLS
• 2026-03-09 Relisted — SCMLS
• 2026-02-13 Relisted — SCMLS
• 2026-02-04 Pending — SCMLS
• 2026-02-04 Listing Removed — SCMLS
• 2026-01-16 Price Changed $170,000 SCMLS
• 2026-01-05 Relisted — SCMLS
• 2026-01-04 Listing Removed — SCMLS
• 2025-09-19 Price Changed $175,000 SCMLS
• 2025-08-30 Price Changed $180,000 SCMLS
• 2025-08-04 Listed $185,000 SCMLS
• 2024-03-08 Rental Removed $1,500 SCMLS
• 2024-01-30 Listed for Rent $1,500 SCMLS
• 2003-06-16 Sold (Public Records) $64,000 Public Records
• 2002-07-19 Sold (Public Records) $59,000 Public Records
• 1997-04-03 Sold (Public Records) $38,000 Public Records
• 1987-06-01 Sold (Public Records) $60,000 Public Records
• 1982-07-01 Sold (Public Records) $10,000 Public Records

Property tax history

+22.3%/yr

Latest (2025): $2,429 · -7.3% YoY. Source: county tax records.