5693 Star Rush Dr #304 · Viera East, FL 32940

$155,000

1 bd · 1.0 ba · 679 sqft · Condo public records · 21 Days on market

Built 2002 $305/mo HOA · 20% 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
• Appreciation +5.2/10.0
• 1% rule +4.9/10.0
• 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

Welcome to your serene retreat nestled in Lakes at Viera East gated community. This charming one-bedroom, one-bathroom condo offers a perfect blend of comfort and luxury on the third floor, providing breathtaking lake views. Step inside to discover an inviting open floor plan, bathed in natural light The living area seamlessly connects to a well-appointed kitchen. The bedroom promises restful nights, offering tranquil lake vistas to greet you each morning. The bathroom is elegantly designed, boasting contemporary fixtures and a relaxing atmosphere. Outside, the community pool and gym await. Dive into the sparkling pool for a refreshing swim. Security and privacy are paramount in this gated enclave, ensuring peace of mind. Has its own Storage. This condo not only provides a comfortable living space but also a lifestyle of convenience close to stores, restaurants. Don't miss the opportunity to make this lake-view haven your new home. Pet not to exceed 25 lbs.

Key facts

• Gated community
• Quartz countertops
• Lake views

Tags

• TOP-FLOOR LIVING
• GATED COMMUNITY
• LAKE VIEWS
• OPEN LAYOUT
• LUXURY VINYL PLANK FLOORING
• QUARTZ COUNTERTOPS

Property features AI

Finance

• HOA & community: Part of an association (Lakes at Viera East); Monthly association fee; Association fee includes cable TV, Internet, and trash; Community amenities: barbecue, cable TV, car wash area, clubhouse, fitness center, gated community, grounds maintenance, structure maintenance, full-time management, storage

Exterior

• Parking: Guest parking; RV access/parking
• Security: Gated community
• Utilities: Public sewer; Electricity connected; Water connected
• Home design: Condominium; Three or more levels; Unit entry on level 3; Faces southeast; Attached property
• Construction: Frame, stucco, and wood siding construction
• Exterior features: Security gate; Waterfront on a lake/pond; Lot listed as other

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom (third floor entry level noted elsewhere)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air
• Interior features: Breakfast bar; Ceiling fan(s); Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (19.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (0.8% below list).
• Recommended offer: $124k (19.9% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent is only 17% of the median local income ($110k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $625 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 21 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y 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.

Recommended offer $124,153 (19.9% 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: 0.99% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.83%
• DSCR: 0.79
• GRM: 8.4

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: $-14,069
• Equity at exit: $48,157

10-year hold

• IRR: -1.7%
• Equity multiple: 0.81×
• Total profit: $-8,346
• Equity at exit: $60,465

Cash invested: $43,400 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$813
• Tax from tax record: −$207 /mo · $2,489/yr
• Insurance: −$65
• HOA: −$305
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-175

Break-even live

Break-even rent $1,759

Max offer price $124,153

Occupancy floor —

Sensitivity live

Price	-10% $-87	-5% $-131	+0% $-175	+5% $-218	+10% $-262
Rent	-10% $-296	-5% $-235	+0% $-175	+5% $-114	+10% $-53
Rate	-1.0pp $-97	-0.5pp $-135	base $-175	+0.5pp $-215	+1.0pp $-256

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5683 Star Rush Dr #203 Melbourne, FL	1.0	1.0	679	$1,400	$2.06	25d	1	0.06mi
1777 Sophias Dr #301 Melbourne, FL	1.0	1.0	679	$1,450	$2.14	25d	1	0.18mi
1776 Sophias Dr Unit LVE105 Melbourne, FL	1.0	1.0	679	$1,495	$2.20	16d	1	0.21mi
1703 Mission Bay Cir Rockledge, FL	1.0–3.0	1.0–2.0	927	$1,050	$1.13	15d	12	0.48mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$1,784	$1.61	15d	27	0.72mi
6431 Borasco Dr Melbourne, FL	1.0–2.0	1.0–2.0	869	$1,450	$1.67	21d	2	1.23mi
6470 Borasco Dr #2102 Melbourne, FL	1.0	1.0	598	$1,500	$2.51	21d	1	1.24mi
6440 Borasco Dr Melbourne, FL	1.0	1.0	598	$1,495	$2.50	23d	1	1.29mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-22
   days on market $155,000 Active 21 DOM
2. 2026-06-18
   days on market $155,000 Active 18 DOM
3. 2026-06-17
   days on market $155,000 Active 17 DOM
4. 2026-06-16
   days on market $155,000 Active 16 DOM
5. 2026-06-15
   days on market $155,000 Active 15 DOM
6. 2026-06-14
   pricedays on market $155,000 Active 13 DOM
7. 2026-06-10
   days on market $160,000 Active 10 DOM
8. 2026-06-08
   days on market $160,000 Active 8 DOM
9. 2026-06-07
   days on market $160,000 Active 7 DOM
10. 2026-06-05
    days on market $160,000 Active 4 DOM
11. 2026-06-03
    days on market $160,000 Active 3 DOM
12. 2026-06-02
    days on market $160,000 Active 2 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $160,000 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: $2,489 · $207/mo
• Projected year-2 tax: $2,489 · $207/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: $18,459
• − Mortgage interest: −$8,682
• − Property taxes: −$2,489
• − Insurance: −$775
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − HOA: −$3,660
• − Depreciation: −$4,509
• Taxable loss: −$4,610
• Est. tax savings @ 24.0%: +$1,106
• After-tax cash flow: $-989/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

+42.2% since first listed

20 events — show timeline

• 2026-05-31 Listed $160,000 SCMLS
• 2026-03-19 Listing Removed — SCMLS
• 2026-02-03 Price Changed $175,000 SCMLS
• 2025-09-18 Listed $184,000 SCMLS
• 2024-08-01 Listing Removed — SCMLS
• 2024-07-27 Rental Removed $1,475 SCMLS
• 2024-07-25 Listed for Rent $1,475 SCMLS
• 2024-06-01 Listed $205,000 SCMLS
• 2022-10-03 Sold (MLS) $182,500 SCMLS
• 2022-09-08 Contingent — SCMLS
• 2022-08-04 Price Changed $189,900 SCMLS
• 2022-07-28 Listed $199,900 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2013-12-23 Sold (MLS) $52,000 SCMLS
• 2013-09-25 Listed $54,900 SCMLS
• 2010-03-26 Listed $43,000 SCMLS
• 2009-09-26 Listed $49,900 SCMLS
• 2009-03-19 Listed $112,500 SCMLS

Property tax history

+6.7%/yr

Latest (2025): $2,489 · +1.8% YoY. Source: county tax records.