1747 Sophias Dr #304 · Viera East, FL 32940

$180,000

2 bd · 2.0 ba · 1,020 sqft · Condo public records · 15 Days on market

Built 2002 $467/mo HOA · 24% of rent

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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 +7.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks MLS

Updated 2 Bedroom 2 Bath With Magnificent Water Views. Nothing To Do But Move In & Enjoy. Brand New Kitchen Granite Countertops, New Kitchen Sink & Faucet. Brand New Stainless Stove & Refridgerator Installed (2022), Bathrooms Updated in (2021), Vinyl Flooring Installed (2020). Spacious Living & Dining Areas Complement The Condo As Well As A Office/Reading Nook Area Off The Dining Area. Some Of The Amenities That This Community Has To Offer Are A Community Pool, Clubhouse, Workout Room, Plus A Putting Green. Wow! Other Features Include Outdoor Grills and Gazebos. This Is Truly A Resort Type Atmosphere. Located Close To All Shopping, Restaurants & A+ Rated Schools. Don't Miss Out On A Great Place To Live

Key facts

• Vinyl flooring
• Brand new kitchen
• Versatile office

Tags

• BRAND NEW KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOMS
• VINYL FLOORING
• VERSATILE OFFICE

Property features AI

Finance

• Other: Current use: Residential and investment; Pets allowed (cats and dogs OK; breed restrictions and number limit); Unit is offered unfurnished
• Financial info: Association fee paid monthly
• HOA & community: Community association (monthly fee); Association amenities include: clubhouse, fitness center, barbecue area, car wash area, jogging path, grounds and building maintenance, management (full time and off site), and trash service; Association fee includes cable TV, insurance, internet, grounds maintenance, structure maintenance, pest control, and trash; Association is Lakes at Viera East Condo

Exterior

• Parking: Gated parking; Guest parking; Unassigned spaces
• Security: Gated community
• Utilities: Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; North-facing; Entry on level 3; Three-story building; One level unit; Property attached
• Construction: Frame and stucco construction; Metal/other roof
• Exterior features: Community in-ground spa; Sprinklers in front and rear; City street frontage; Asphalt road

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Open floor plan; Pantry; Split bedroom layout; Walk-in closet(s)
• Laundry & utility: In-unit washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (19.7% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $144k (19.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#141 in FL, #1,964 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute D+, amenities F.
• 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: Manatee Elementary School (math 85% / reading 84%, grade A+, #43 of 2,144 statewide, top 2%, 897 students, 19% FRL); John F. Kennedy Middle School (math 67% / reading 59%, grade B+, #111 of 571 statewide, top 20%, 673 students, 41% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 25% FRL vs 43% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 71% at this address vs 55% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.0%/yr); 593 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $726 appreciation (0.4% local appreciation)).
• 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 ($177k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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 $100k; list at $180k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $144,473 (19.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 4.95%
• Cash-on-cash: -4.79%
• DSCR: 0.79
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.68×
• Total profit: $-16,321
• Equity at exit: $55,925

10-year hold

• IRR: -1.8%
• Equity multiple: 0.80×
• Total profit: $-9,894
• Equity at exit: $70,217

Cash invested: $50,400 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 593
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,951 high
• Mortgage (P&I): −$944
• Tax from tax record: −$257 /mo · $3,080/yr
• Insurance: −$75
• HOA: −$467
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-201

Break-even live

Break-even rent $2,206

Max offer price $144,473

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-150	+0% $-201	+5% $-252	+10% $-303
Rent	-10% $-355	-5% $-278	+0% $-201	+5% $-124	+10% $-47
Rate	-1.0pp $-110	-0.5pp $-155	base $-201	+0.5pp $-248	+1.0pp $-295

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1747 Sophias Dr #202 Melbourne, FL	3.0	2.0	1278	$2,200	$1.72	16d	1	0.02mi
1747 Sophias Dr Melbourne, FL	2.0–3.0	2.0	1149	$1,850	$1.61	25d	2	0.02mi
5693 Star Rush Dr #207 Melbourne, FL	2.0	2.0	1139	$1,695	$1.49	25d	1	0.04mi
1766 Sophias Dr #302 Melbourne, FL	2.0	2.0	1020	$1,750	$1.72	25d	1	0.13mi
1622 Laramie Cir Melbourne, FL	3.0	2.0	1390	$2,600	$1.87	16d	1	0.37mi
1703 Mission Bay Cir Rockledge, FL	1.0–3.0	1.0–2.0	927	$1,258	$1.36	15d	12	0.48mi
1851 Long Iron Dr #901 Rockledge, FL	2.0	2.0	1118	$1,700	$1.52	25d	1	0.60mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$2,602	$2.35	15d	27	0.66mi
2185 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1192	$2,008	$1.68	15d	17	1.06mi
6411 Borasco Dr Melbourne, FL	2.0–3.0	2.0	1258	$1,700	$1.35	25d	1	1.12mi
6431 Borasco Dr Melbourne, FL	1.0–2.0	1.0–2.0	869	$1,950	$2.24	20d	2	1.21mi
6451 Borasco Dr Melbourne, FL	1.0	1.0	781	$1,698	$2.17	16d	2	1.22mi
2560 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1091	$2,186	$2.00	15d	14	1.22mi
6450 Borasco Dr #3707 Melbourne, FL	1.0	1.0	868	$1,600	$1.84	16d	1	1.25mi

HOA detail condo

• Monthly dues: $467 · $5,604/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-22
   days on market $180,000 Active 15 DOM
2. 2026-06-18
   days on market $180,000 Active 12 DOM
3. 2026-06-17
   days on market $180,000 Active 11 DOM
4. 2026-06-16
   days on market $180,000 Active 10 DOM
5. 2026-06-15
   days on market $180,000 Active 9 DOM
6. 2026-06-14
   days on market $180,000 Active 7 DOM
7. 2026-06-10
   days on market $180,000 Active 4 DOM
8. 2026-06-08
   days on market $180,000 Active 2 DOM
9. 2026-06-07
   remarks 695-char remark
10. 2026-06-07
    listed $180,000 Active 1 DOM

ⓘ 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: $3,080 · $257/mo
• Projected year-2 tax: $3,080 · $257/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,415
• − Mortgage interest: −$10,083
• − Property taxes: −$3,080
• − Insurance: −$900
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$5,604
• − Depreciation: −$5,236
• Taxable loss: −$5,234
• Est. tax savings @ 24.0%: +$1,256
• After-tax cash flow: $-1,157/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 — Viera East

• Score: 79/100
• State rank: #141
• US rank: #1964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Viera East, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

+80.2% since first listed

26 events — show timeline

• 2026-06-05 Listed $180,000 SCMLS
• 2022-08-26 Listing Removed — SCMLS
• 2022-08-09 Price Changed $234,900 SCMLS
• 2022-07-26 Price Changed $238,900 SCMLS
• 2022-07-06 Listed $248,900 SCMLS
• 2022-06-20 Listing Removed — SCMLS
• 2022-06-16 Price Changed $235,000 SCMLS
• 2022-06-06 Price Changed $249,900 SCMLS
• 2022-05-28 Price Changed $269,000 SCMLS
• 2022-05-24 Listed $289,000 SCMLS
• 2019-11-02 Listing Removed — SCMLS
• 2019-09-06 Listed $144,000 SCMLS
• 2018-07-12 Listing Removed — SCMLS
• 2018-07-12 Listed $140,000 SCMLS
• 2016-11-08 Listing Removed — SCMLS
• 2016-10-13 Listed $119,000 SCMLS
• 2016-10-05 Sold (Public Records) $100,000 Public Records
• 2016-10-03 Sold (MLS) $100,000 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-07-26 Listed $104,999 SCMLS
• 2015-07-23 Listing Removed — SCMLS
• 2015-05-19 Listed $97,500 SCMLS
• 2013-02-21 Sold (MLS) $64,900 SCMLS
• 2012-10-23 Listed $64,900 SCMLS
• 2008-09-24 Sold (Public Records) $86,000 Public Records
• 2007-09-06 Listed $99,900 SCMLS

Property tax history

+4.5%/yr

Latest (2025): $3,080 · +4.5% YoY. Source: county tax records.