4304 London Town Rd Unit D224 · Mims, FL 32796

$139,000

2 bd · 2.0 ba · 1,056 sqft · Condo public records · 43 Days on market

Built 1971 $327/mo HOA · 17% of rent ↓ 7% since listing

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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 +25.4/30.0
• 1% rule +9.1/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Condo.

Key facts

• $327 HOA
• Built 1971
• Listed 43 days

Property features AI

Finance

• HOA & community: Association: Nottingham; Monthly association fee; Association amenities: Cable TV, off-site management, water; Association fee includes: Cable TV, insurance, internet, grounds maintenance, water

Exterior

• Parking: Parking lot
• Utilities: Public sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; Faces west; Entry level: 2; 2-story building
• Construction: Block and stucco construction
• Exterior features: City street frontage; Asphalt road surface; Lot features: Other

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Eat-in kitchen; Pantry; Primary bathroom with shower (no tub)
• Laundry & utility: In-unit laundry; Stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#765 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment 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: Mims Elementary School (math 42% / reading 47%, grade F, #1,288 of 2,144 statewide, top 62%, 462 students, 80% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 256 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/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 $961 of loan paydown is wiped out by about $4k 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 43 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 3 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 $110k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.41% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,501
• Equity at exit: $20,725

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $3,354
• Equity at exit: $12,018

Cash invested: $38,920 (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 32796

• Rents YoY: 0.6%
• Active inventory: 256
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,957 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$111 /mo · $1,326/yr
• Insurance: −$58
• HOA: −$327
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $321

Break-even live

Break-even rent $1,550

Max offer price $139,000

Occupancy floor 79%

Sensitivity live

Price	-10% $400	-5% $361	+0% $321	+5% $282	+10% $243
Rent	-10% $167	-5% $244	+0% $321	+5% $399	+10% $476
Rate	-1.0pp $391	-0.5pp $357	base $321	+0.5pp $285	+1.0pp $249

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Lafayette Ave Titusville, FL	3.0	2.0	1457	$2,260	$1.55	14d	1	1.39mi
1580 Liberty Tree Rd Titusville, FL	3.0	2.0	1458	$2,145	$1.47	14d	1	1.40mi

HOA detail condo

• Monthly dues: $327 · $3,924/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $139,000 Active 43 DOM
2. 2026-06-17
   days on market $139,000 Active 42 DOM
3. 2026-06-16
   days on market $139,000 Active 41 DOM
4. 2026-06-15
   days on market $139,000 Active 40 DOM
5. 2026-06-14
   days on market $139,000 Active 38 DOM
6. 2026-06-10
   days on market $139,000 Active 35 DOM
7. 2026-06-08
   days on market $139,000 Active 33 DOM
8. 2026-06-07
   days on market $139,000 Active 32 DOM
9. 2026-06-05
   days on market $139,000 Active 29 DOM
10. 2026-06-03
    days on market $139,000 Active 28 DOM
11. 2026-06-02
    days on market $139,000 Active 27 DOM
12. 2026-06-01
    days on market $139,000 Active 26 DOM
13. 2026-05-31
    days on market $139,000 Active 25 DOM
14. 2026-05-31
    days on market $139,000 Active 24 DOM
15. 2026-05-19
    price $139,000
16. 2026-05-06
    listed $142,000 Active
17. 2026-04-30
    historical 6-char remark

    Show marketing remark (6 chars)

    Condo.

18. 2026-04-30
    historical

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    Condo.

19. 2026-04-06
    price $142,900

    Show marketing remark (6 chars)

    Condo.

20. 2026-04-06
    price $142,900 6-char remark

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    Condo.

21. 2026-03-06
    price $148,500

    Show marketing remark (6 chars)

    Condo.

22. 2026-03-06
    price $148,500 6-char remark

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    Condo.

23. 2026-01-28
    listed $150,000 Active 6-char remark

    Show marketing remark (6 chars)

    Condo.

24. 2026-01-28
    listed $150,000 Active

    Show marketing remark (6 chars)

    Condo.

25. 2021-06-15
    soldstatus $110,000
26. 2020-03-16
    soldstatus $82,000
27. 2004-02-12
    soldstatus $42,500
28. 2000-03-30
    soldstatus $34,000
29. 1997-02-19
    soldstatus $37,000
30. 1995-11-14
    soldstatus $295,800
31. 1993-11-03
    soldstatus $518,000
32. 1991-08-01
    soldstatus $575,000
33. 1984-04-01
    soldstatus $1,680,000
34. 1981-08-01
    soldstatus $150,000

ⓘ 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: $1,326 · $111/mo
• Projected year-2 tax: $1,326 · $111/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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $23,479
• − Mortgage interest: −$7,786
• − Property taxes: −$1,326
• − Insurance: −$695
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − HOA: −$3,924
• − Depreciation: −$4,044
• Taxable income: $1,947
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $3,388/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 — Mims

• Score: 62/100
• State rank: #765
• US rank: #17094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

-7.3% since first listed

20 events — show timeline

• 2026-05-19 Price Changed $139,000 SCMLS
• 2026-05-06 Listed $142,000 SCMLS
• 2026-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Listing Removed — SCMLS
• 2026-04-06 Price Changed $142,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $142,900 SCMLS
• 2026-03-06 Price Changed $148,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $148,500 SCMLS
• 2026-01-28 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Listed $150,000 SCMLS
• 2021-06-15 Sold (Public Records) $110,000 Public Records
• 2020-03-16 Sold (Public Records) $82,000 Public Records
• 2004-02-12 Sold (Public Records) $42,500 Public Records
• 2000-03-30 Sold (Public Records) $34,000 Public Records
• 1997-02-19 Sold (Public Records) $37,000 Public Records
• 1995-11-14 Sold (Public Records) $295,800 Public Records
• 1993-11-03 Sold (Public Records) $518,000 Public Records
• 1991-08-01 Sold (Public Records) $575,000 Public Records
• 1984-04-01 Sold (Public Records) $1,680,000 Public Records
• 1981-08-01 Sold (Public Records) $150,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $1,326 · +8.5% YoY. Source: county tax records.