1328 Turkey Creek Dr NE · Palm Bay, FL 32905

$134,000

2 bd · 2.0 ba · 710 sqft · Condo public records · 72 Days on market

Built 1966 $200/mo HOA · 9% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

Simply the best!!! Be the envy of all your neighbors with this sparkling clean home, decorated with style from top to toe. All you need is your toothbrush, everything else is provided. Newer Roof, freshly painted. This is a lovely community offering swimming pool, clubhouse, shuffleboard, bocce ball, bingo, pool tables, darts, the list continues. This active over 55 community also offers access to the Indian River with RV and boat storage available.

Key facts

• 9,148 sq ft lot
• Parking
• Community pool

Property features AI

Finance

• Other: Partially furnished unit; Located on a private asphalt road with zero lot line
• HOA & community: Part of Palm Bay Estates community; Monthly association fee of $200; Association amenities include barbecue, boat launch, clubhouse, dog park, cable TV, and pickleball; Association fee includes cable TV, internet, and grounds maintenance

Exterior

• Parking: Attached carport (1 space)
• Utilities: Public sewer; Electricity connected; Sewer connected
• Home design: Double wide mobile home; One level; Facing east; Residential use
• Construction: Frame construction; Membrane roof; Pet restrictions: breed, number and size limits
• Exterior features: Porch

Interior

• Kitchen: Electric oven and range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Breakfast nook; Ceiling fans; His-and-hers closets; Open floor plan; Pantry; Primary bathroom with shower (no tub)
• Laundry & utility: Washer and dryer; Laundry located in carport; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $134k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $126k (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: Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 55% district-wide (-22 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 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 $38k; list at $134k implies a 253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $125,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.59% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.53%
• DSCR: 1.91
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $8,821
• Equity at exit: $19,980

10-year hold

• IRR: 12.4%
• Equity multiple: 1.83×
• Total profit: $31,269
• Equity at exit: $11,586

Cash invested: $37,520 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,137 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$200
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $575

Break-even live

Break-even rent $1,409

Max offer price $134,000

Occupancy floor 68%

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2485 Port Malabar Blvd NE Palm Bay, FL	3.0	1.0–3.0	1181	$3,510	$2.97	14d	301	0.45mi
4714 Overlook Dr Palm Bay, FL	1.0	1.0	672	$1,475	$2.19	23d	1	1.27mi
4818 Overlook Dr NE #4 Palm Bay, FL	1.0	1.0	672	$1,250	$1.86	19d	1	1.27mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $134,000 Active 72 DOM
2. 2026-06-17
   days on market $134,000 Active 71 DOM
3. 2026-06-16
   days on market $134,000 Active 70 DOM
4. 2026-06-15
   days on market $134,000 Active 69 DOM
5. 2026-06-14
   days on market $134,000 Active 67 DOM
6. 2026-06-10
   days on market $134,000 Active 64 DOM
7. 2026-06-08
   days on market $134,000 Active 62 DOM
8. 2026-06-07
   days on market $134,000 Active 61 DOM
9. 2026-06-05
   days on market $134,000 Active 58 DOM
10. 2026-06-03
    days on market $134,000 Active 57 DOM
11. 2026-06-02
    days on market $134,000 Active 56 DOM
12. 2026-06-01
    days on market $134,000 Active 55 DOM
13. 2026-05-31
    days on market $134,000 Active 54 DOM
14. 2026-05-31
    days on market $134,000 Active 53 DOM
15. 2026-04-07
    listed $134,000 Active
16. 2007-05-14
    soldstatus $38,000 453-char remark

    Show marketing remark (453 chars)

    Simply the best!!! Be the envy of all your neighbors with this sparkling clean home, decorated with style from top to toe. All you need is your toothbrush, everything else is provided. Newer Roof, freshly painted. This is a lovely community offering swimming pool, clubhouse, shuffleboard, bocce ball, bingo, pool tables, darts, the list continues. This active over 55 community also offers access to the Indian River with RV and boat storage available.

17. 2007-03-01
    listed $39,900 453-char remark

    Show marketing remark (453 chars)

    Simply the best!!! Be the envy of all your neighbors with this sparkling clean home, decorated with style from top to toe. All you need is your toothbrush, everything else is provided. Newer Roof, freshly painted. This is a lovely community offering swimming pool, clubhouse, shuffleboard, bocce ball, bingo, pool tables, darts, the list continues. This active over 55 community also offers access to the Indian River with RV and boat storage available.

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,112 · $93/mo
• Expected delta: +$60/yr (+$5/mo · 5.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 94% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $25,643
• − Mortgage interest: −$7,506
• − Property taxes: −$1,053
• − Insurance: −$1,468
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − HOA: −$2,400
• − Depreciation: −$3,898
• Taxable income: $5,216
• Est. tax owed @ 24.0%: −$1,252
• After-tax cash flow: $5,654/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+235.8% since first listed

3 events — show timeline

• 2026-04-07 Listed $134,000 SCMLS
• 2007-05-14 Sold (MLS) $38,000 SCMLS
• 2007-03-01 Listed $39,900 SCMLS

Property tax history

+6.6%/yr

Latest (2025): $1,053 · +4.8% YoY. Source: county tax records.