738 Lund Cir · Melbourne, FL 32901

$199,900

2 bd · 2.0 ba · 1,859 sqft · SingleFamily public records · 15 Days on market

Built 1957 0.31 ac lot

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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 +13.9/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• DSCR +4.2/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity meets potential at 738 Lund Circle -- a chance to own a spacious 4-bedroom, 2-bath home on an oversized 1/3-acre lot. Backing to the Eau Gallie River, this property offers a peaceful, private setting with mature trees and lush greenery. NO HOA or rental restrictions and ample room for boat/RV storage. Conveniently located near downtown Melbourne, allows for quick access to shopping, dining, and everyday conveniences. Melbourne Square Mall, Melbourne Orlando International Airport, the Indian River and beaches all just minutes away. making it ideal for both lifestyle and investment. Inside, the home features a functional layout with generous living space, including a spacious kitchen with an eat-in option -- offering comfort and flexibility for everyday living, entertaining, or rental potential. Step outside and imagine the possibilities -- expand your outdoor living space, design a custom backyard oasis, a garden to supply food or simply enjoy the privacy and natural sur Whether you're looking to invest, or create your own private homestead, 738 Lund Circle presents a rare opportunity to capitalize on space, location, and long-term value -- all just minutes from everything Melbourne has to offer.

Key facts

• Lush greenery
• Rental restrictions
• Oversized lot

Tags

• OVERSIZED LOT
• BACKING TO EAU GALLIE RIVER
• MATURE TREES
• LUSH GREENERY
• NO HOA
• RENTAL RESTRICTIONS

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Cable available
• Home design: Single-family residence; One story; Faces southeast
• Construction: Block, concrete, and stucco construction; Membrane roof; Pets allowed
• Exterior features: Patio; Chain link fence; Workshop (separate structure)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Wall/window AC unit(s)
• Interior features: Ceiling fan(s); Eat-in kitchen; Primary bathroom with shower (no tub); Wood-burning fireplace (1)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $23 ($275/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 $187k (6.4% below list).
• Recommended offer: $187k (6.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: University Park Elementary School (math 22% / reading 32%, grade F, #1,969 of 2,144 statewide, top 94%, 484 students, 76% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% 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 37% at this address vs 55% district-wide (-18 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 (+1.7%/yr); 202 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 41% of the median local income ($55k/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 $6k 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 15 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $134k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $187,093 (6.4% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.94% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-33,277
• Equity at exit: $29,806

10-year hold

• IRR: -11.6%
• Equity multiple: 0.35×
• Total profit: $-36,459
• Equity at exit: $17,284

Cash invested: $55,972 (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 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,871 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$324 /mo · $3,883/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $23

Break-even live

Break-even rent $1,842

Max offer price $199,900

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $79	+0% $23	+5% $-34	+10% $-90
Rent	-10% $-125	-5% $-51	+0% $23	+5% $97	+10% $171
Rate	-1.0pp $124	-0.5pp $74	base $23	+0.5pp $-29	+1.0pp $-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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Piney Branch Way Unit A Melbourne, FL	2.0	2.5	1288	$1,600	$1.24	15d	1	0.60mi
212 Dubber Rd Melbourne, FL	3.0	2.0	1230	$2,000	$1.63	24d	1	0.82mi
1023 Gull Ln Melbourne, FL	1.0–3.0	1.0–2.0	1072	$1,924	$1.79	15d	31	0.97mi
21 Rosevere Way Melbourne, FL	3.0	2.0	1467	$1,900	$1.30	15d	1	1.19mi
300 Amherst Ave Melbourne, FL	3.0	2.0	1353	$2,050	$1.52	15d	1	1.24mi
2900 Vassar St Melbourne, FL	3.0	2.0	1316	$1,925	$1.46	15d	1	1.38mi
512 E Strawbridge Ave Melbourne, FL	3.0	1.0	1487	$2,400	$1.61	22d	1	1.40mi
2916 Rollins St Melbourne, FL	3.0	2.0	1635	$2,190	$1.34	24d	1	1.41mi

Listing history 9 events

1. 2026-05-13
   status Pending
2. 2026-05-07
   historical Active Under Contract
3. 2026-04-29
   price $199,900
4. 2026-04-28
   listed $205,000 Active
5. 2026-04-19
   historical 1226-char remark

   Show marketing remark (1226 chars)

   Opportunity meets potential at 738 Lund Circle -- a chance to own a spacious 4-bedroom, 2-bath home on an oversized 1/3-acre lot. Backing to the Eau Gallie River, this property offers a peaceful, private setting with mature trees and lush greenery. NO HOA or rental restrictions and ample room for boat/RV storage. Conveniently located near downtown Melbourne, allows for quick access to shopping, dining, and everyday conveniences. Melbourne Square Mall, Melbourne Orlando International Airport, the Indian River and beaches all just minutes away. making it ideal for both lifestyle and investment. Inside, the home features a functional layout with generous living space, including a spacious kitchen with an eat-in option -- offering comfort and flexibility for everyday living, entertaining, or rental potential. Step outside and imagine the possibilities -- expand your outdoor living space, design a custom backyard oasis, a garden to supply food or simply enjoy the privacy and natural sur Whether you're looking to invest, or create your own private homestead, 738 Lund Circle presents a rare opportunity to capitalize on space, location, and long-term value -- all just minutes from everything Melbourne has to offer.

6. 2026-04-12
   listed $219,900 Active 1226-char remark

   Show marketing remark (1226 chars)

   Opportunity meets potential at 738 Lund Circle -- a chance to own a spacious 4-bedroom, 2-bath home on an oversized 1/3-acre lot. Backing to the Eau Gallie River, this property offers a peaceful, private setting with mature trees and lush greenery. NO HOA or rental restrictions and ample room for boat/RV storage. Conveniently located near downtown Melbourne, allows for quick access to shopping, dining, and everyday conveniences. Melbourne Square Mall, Melbourne Orlando International Airport, the Indian River and beaches all just minutes away. making it ideal for both lifestyle and investment. Inside, the home features a functional layout with generous living space, including a spacious kitchen with an eat-in option -- offering comfort and flexibility for everyday living, entertaining, or rental potential. Step outside and imagine the possibilities -- expand your outdoor living space, design a custom backyard oasis, a garden to supply food or simply enjoy the privacy and natural sur Whether you're looking to invest, or create your own private homestead, 738 Lund Circle presents a rare opportunity to capitalize on space, location, and long-term value -- all just minutes from everything Melbourne has to offer.

7. 2004-03-10
   soldstatus $134,000
8. 2002-11-14
   soldstatus $70,000
9. 1965-12-01
   soldstatus $12,000

ⓘ 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: $3,883 · $324/mo
• Projected year-2 tax: $3,883 · $324/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 1/10 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: $22,451
• − Mortgage interest: −$11,198
• − Property taxes: −$3,883
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − Depreciation: −$5,815
• Taxable loss: −$3,036
• Est. tax savings @ 24.0%: +$729
• After-tax cash flow: $1,003/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

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 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 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: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• 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

+1565.8% since first listed

9 events — show timeline

• 2026-05-13 Pending — SCMLS
• 2026-05-07 Contingent — SCMLS
• 2026-04-29 Price Changed $199,900 SCMLS
• 2026-04-28 Listed $205,000 SCMLS
• 2026-04-19 Listing Removed — SCMLS
• 2026-04-12 Listed $219,900 SCMLS
• 2004-03-10 Sold (Public Records) $134,000 Public Records
• 2002-11-14 Sold (Public Records) $70,000 Public Records
• 1965-12-01 Sold (Public Records) $12,000 Public Records

Property tax history

+16.1%/yr

Latest (2025): $3,883 · +210.5% YoY. Source: county tax records.