1942 Quail Ridge Ct #504 · Cocoa, FL 32926

$165,000

2 bd · 2.0 ba · 1,067 sqft · Condo public records · 114 Days on market

Built 1989 $425/mo HOA · 22% of rent ↓ 8% since listing

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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).

• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is an extremely desirable community! Property is currently occupied by a tenant, but the lease has expired.

Key facts

• Centrally located
• Private patio
• World-class fishing

Tags

• PRIVATE PATIO
• WORLD-CLASS FISHING
• MINUTES AWAY BEACHES
• CENTRALLY LOCATED
• QUICK ACCESS BEACHLINE

Property features AI

Finance

• HOA & community: Community association with monthly fee of $425; Association fee includes cable TV, internet, and trash; Association management: Sentry Manangement

Exterior

• Parking: Guest parking; Parking lot
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; One-story; Entry level 1; Faces south
• Construction: Frame and other construction materials; Shingle roof; Built as one-story structure
• Exterior features: Patio; Privacy fencing; Shed(s); Paved road access; Lot features: Other

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Split system cooling
• Interior features: Breakfast bar; Ceiling fans; Open floor plan; Split bedroom layout; Vaulted ceilings; Walk-in closets
• Laundry & utility: In-unit laundry with washer hookup and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (13.1% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $143k (13.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#344 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment 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: Cambridge Elementary Magnet School (math 38% / reading 31%, grade F, #1,709 of 2,144 statewide, top 81%, 495 students, 78% FRL); Cocoa High School (math 21% / reading 27%, grade F, #529 of 667 statewide, top 80%, 1,551 students, 73% FRL) — zoned schools average 76% FRL vs 43% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 55% district-wide (-26 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 fast (+5.6%/yr); 291 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% of the median local income ($71k/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 114 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,393 (13.1% 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 114 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.37×
• Total profit: $-29,136
• Equity at exit: $24,602

10-year hold

• IRR: -3.4%
• Equity multiple: 0.74×
• Total profit: $-12,155
• Equity at exit: $14,266

Cash invested: $46,200 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 291
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$865
• Tax from tax record: −$256 /mo · $3,070/yr
• Insurance: −$69
• HOA: −$425
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-122

Break-even live

Break-even rent $2,044

Max offer price $143,393

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3070 Cirrus Dr Cocoa, FL	3.0	1.0–2.0	1002	$2,326	$2.32	13d	29	0.49mi
3028 Winchester Dr Cocoa, FL	3.0	2.0	1125	$1,915	$1.70	21d	1	0.64mi
1710 University Ln #408 Cocoa, FL	2.0	2.0	864	$1,400	$1.62	14d	1	0.70mi
312 Bellair Dr Cocoa, FL	2.0	1.0	984	$1,700	$1.73	23d	1	0.74mi
1704 University Ln #701 Cocoa, FL	2.0	2.0	864	$1,225	$1.42	23d	1	0.75mi
318 Lucerne Dr Cocoa, FL	3.0	1.0	1145	$1,700	$1.48	19d	1	0.82mi
1524 Clearlake Rd Cocoa, FL	1.0–2.0	1.0	720	$1,822	$2.53	19d	6	0.87mi
214 Lucerne Dr Unit 1381666P Cocoa, FL	3.0	1.0	1151	$3,539	$3.07	14d	1	0.88mi
1514 Clearlake Rd #110 Cocoa, FL	2.0	2.0	1070	$1,295	$1.21	23d	1	0.94mi
1660 Rosetine St Unit 1 Cocoa, FL	2.0	2.0	1200	$1,645	$1.37	19d	1	0.96mi
1202 Princeton Rd Cocoa, FL	3.0	2.0	1473	$2,150	$1.46	23d	1	1.19mi
1706 Pineda St Cocoa, FL	3.0	2.0	1020	$1,700	$1.67	23d	1	1.25mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $165,000 Active 114 DOM
2. 2026-06-17
   days on market $165,000 Active 113 DOM
3. 2026-06-16
   days on market $165,000 Active 112 DOM
4. 2026-06-15
   days on market $165,000 Active 111 DOM
5. 2026-06-14
   days on market $165,000 Active 109 DOM
6. 2026-06-10
   days on market $165,000 Active 106 DOM
7. 2026-06-08
   days on market $165,000 Active 104 DOM
8. 2026-06-07
   days on market $165,000 Active 103 DOM
9. 2026-06-05
   days on market $165,000 Active 100 DOM
10. 2026-06-03
    days on market $165,000 Active 99 DOM
11. 2026-06-02
    days on market $165,000 Active 98 DOM
12. 2026-06-01
    days on market $165,000 Active 97 DOM
13. 2026-05-31
    days on market $165,000 Active 96 DOM
14. 2026-05-31
    days on market $165,000 Active 95 DOM
15. 2026-05-20
    status Pending
16. 2026-05-08
    price $165,000
17. 2026-04-15
    price $169,995
18. 2026-03-12
    price $179,000
19. 2026-02-14
    listed $189,000 Active
20. 2020-03-16
    soldstatus $111,500
21. 2016-08-16
    historical 112-char remark

    Show marketing remark (92 chars)

    This is an extremely desirable community! Unit is presently occupied, but lease has expired.

22. 2016-08-16
    historical 92-char remark

    Show marketing remark (92 chars)

    This is an extremely desirable community! Unit is presently occupied, but lease has expired.

23. 2006-04-28
    listed $165,000 112-char remark

    Show marketing remark (112 chars)

    This is an extremely desirable community! Property is currently occupied by a tenant, but the lease has expired.

24. 2005-12-15
    listed $179,900 92-char remark

    Show marketing remark (92 chars)

    This is an extremely desirable community! Unit is presently occupied, but lease has expired.

ⓘ 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: $3,070 · $256/mo
• Projected year-2 tax: $3,070 · $256/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $22,671
• − Mortgage interest: −$9,243
• − Property taxes: −$3,070
• − Insurance: −$825
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − HOA: −$5,100
• − Depreciation: −$4,800
• Taxable loss: −$3,993
• Est. tax savings @ 24.0%: +$958
• After-tax cash flow: $-509/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 — Cocoa

• Score: 72/100
• State rank: #344
• US rank: #5979

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cocoa, FL
• County: Brevard County · 602,871 people
• City population: 67,424
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 23,505
• Household income: $70,735
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 782.0

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 (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% 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: ▼ -68.32%
• Current HPI: 335.1251
• Rent YoY: ▲ 5.60%
• 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

-8.3% since first listed

10 events — show timeline

• 2026-05-20 Pending — SCMLS
• 2026-05-08 Price Changed $165,000 SCMLS
• 2026-04-15 Price Changed $169,995 SCMLS
• 2026-03-12 Price Changed $179,000 SCMLS
• 2026-02-14 Listed $189,000 SCMLS
• 2020-03-16 Sold (Public Records) $111,500 Public Records
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2006-04-28 Listed $165,000 SCMLS
• 2005-12-15 Listed $179,900 SCMLS

Property tax history

+10.6%/yr

Latest (2025): $3,070 · +0.9% YoY. Source: county tax records.