565 Elizabeth St SE · Palm Bay, FL 32909

$166,250

2 bd · 2.0 ba · 900 sqft · SingleFamily public records · 70 Days on market

Built 1982 10,019 sqft lot

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Why this score? — see what drove the B 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 +25.4/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover a charming opportunity in the heart of Palm Bay! This 2-bedroom, 1-bathroom home offers a functional and efficient layout that is perfect for first-time homebuyers, downsizers, or savvy investors looking for a high-potential rental property. With 900 square feet of well-utilized living space, this home feels open and inviting which provides a comfortable setup with enough privacy for residents and guests alike. Situated on a generous . 23-acre lot, the property offers a large backyard that is a blank canvas for your outdoor dreams. The standout feature of this property is the expansive shed situated in the backyard. This isn't just a storage unit; it's a game-changer for your lifes

Key facts

• Large backyard
• Expansive shed
• 0.23 acre lot

Tags

• LARGE BACKYARD
• EXPANSIVE SHED

Property features AI

Finance

• Other: Lot is cleared; City street frontage on paved/asphalt road; Lot size approximately 0.23 acres

Exterior

• Parking: Attached garage (1 car)
• Utilities: Septic tank; Electricity available and connected; Water available and connected; Cable not available
• Home design: Single-family residence; One story; Faces south
• Construction: Frame and stucco construction; Shingle roof; Pets allowed
• Exterior features: Back yard with chain-link fencing; Fenced yard; Shed(s); Workshop; Other exterior features

Interior

• Kitchen: Eat-in kitchen (see interior features)
• Bedrooms: 2 bedrooms
• Flooring: Concrete flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Jack and Jill bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $156k (6.0% 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: 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); 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 38% at this address vs 55% district-wide (-17 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $47k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($156k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $53k; list at $166k implies a 214% 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 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,275 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.16% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.84%
• DSCR: 1.44
• GRM: 7.2

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: 31.8%
• Equity multiple: 3.50×
• Total profit: $116,197
• Equity at exit: $149,771

10-year hold

• IRR: 27.7%
• Equity multiple: 8.00×
• Total profit: $325,858
• Equity at exit: $322,987

Cash invested: $46,550 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,935 high
• Mortgage (P&I): −$872
• Tax from tax record: −$206 /mo · $2,473/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $382

Break-even live

Break-even rent $1,452

Max offer price $166,250

Occupancy floor 75%

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: $41,562
• Closing costs: $4,988
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	23d	1	0.35mi
1072 Genesee Ave SE Palm Bay, FL	3.0	2.0	1004	$1,855	$1.85	23d	1	0.44mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	23d	1	0.54mi
461 Ellington Ave SE Palm Bay, FL	2.0	2.0	1040	$1,595	$1.53	23d	1	1.06mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$1,888	$1.90	14d	8	1.42mi

Listing history 21 events

1. 2026-06-19
   status $166,250 Pending 70 DOM
2. 2026-06-18
   days on market $166,250 Active 70 DOM
3. 2026-06-17
   days on market $166,250 Active 69 DOM
4. 2026-06-16
   days on market $166,250 Active 68 DOM
5. 2026-06-15
   days on market $166,250 Active 67 DOM
6. 2026-06-14
   days on market $166,250 Active 65 DOM
7. 2026-06-10
   days on market $166,250 Active 62 DOM
8. 2026-06-08
   days on market $166,250 Active 60 DOM
9. 2026-06-07
   days on market $166,250 Active 59 DOM
10. 2026-06-05
    days on market $166,250 Active 56 DOM
11. 2026-06-03
    days on market $166,250 Active 55 DOM
12. 2026-06-02
    days on market $166,250 Active 54 DOM
13. 2026-06-01
    days on market $166,250 Active 53 DOM
14. 2026-05-31
    days on market $166,250 Active 52 DOM
15. 2026-05-31
    days on market $166,250 Active 51 DOM
16. 2026-05-08
    price $166,250
17. 2026-04-28
    price $175,000
18. 2026-04-09
    listed $186,000 Active
19. 2003-10-09
    soldstatus $53,000
20. 1991-07-01
    soldstatus $45,000
21. 1982-03-01
    soldstatus $35,400

ⓘ 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: $2,473 · $206/mo
• Projected year-2 tax: $2,473 · $206/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 9/10 Extreme 3 d/yr ≥106°F today · 9 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: $23,224
• − Mortgage interest: −$9,313
• − Property taxes: −$2,473
• − Insurance: −$831
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$4,836
• Taxable income: $2,055
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $4,087/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

+369.6% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $166,250 SCMLS
• 2026-04-28 Price Changed $175,000 SCMLS
• 2026-04-09 Listed $186,000 SCMLS
• 2003-10-09 Sold (Public Records) $53,000 Public Records
• 1991-07-01 Sold (Public Records) $45,000 Public Records
• 1982-03-01 Sold (Public Records) $35,400 Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,473 · +299.0% YoY. Source: county tax records.