3148 Slama Ave SE · Palm Bay, FL 32909

$280,000

3 bd · 2.0 ba · 1,258 sqft · Land · 42 Days on market

Built 2026 10,019 sqft lot

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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 +14.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Under Construction, estimated completion Spring 2026. Completed models available. Builder incentive available. Modern Look, Solid Bones. This brand-new Palm Bay home brings modern Florida living to life, crisp white stucco with wood-look accents, fresh landscaping, and impact windows that keep it quiet, efficient, and storm-ready. Step inside and the vibe hits right away. .. 10-foot ceilings, a bright open layout, and that clean flow between the living, dining, and kitchen spaces. The kitchen's dialed in, white shaker cabinetry (including tall pantry storage), granite counters, a big center island for prep or quick meals, and matte-black fixtures that tie it all together. Stainless appliances and durable wood-look LVP flooring keep the whole space feeling sleek and easy to maintain. The split layout gives the primary suite its own corner, complete with a walk-in closet and a private bath featuring a granite vanity, large-format tile shower, and matte-black finishes for that modern edge. Two guest bedrooms and a full bath mirror the same design, and indoor laundry hookups sit just off the kitchen for everyday convenience. Everything's move-in ready, backed by a full builder warranty, with closing cost assistance available and 100% financing options for qualified buyers. Just outside Bayside Lakes, you're minutes from Publix, Starbucks, Dunkin', and all the everyday spots that make life easy. New, stylish, and built to last, this one's ready when you are. Showings by appointment, come see what Slama Avenue is all about.

Key facts

• 0.23 acre lot
• Garage
• Built 2026

Property features AI

Exterior

• Parking: Attached garage (1-car)
• Utilities: Septic tank; Cable available; Electricity available
• Home design: Single family residence; Faces west; New construction
• Construction: Concrete construction
• Exterior features: Cleared lot

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher; Electric range; Microwave
• Laundry & utility: Unfurnished (no washer/dryer included)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $280k.

Deal economics

• At list price, monthly cash flow is $81 ($972/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 $217k (22.6% below list).
• Recommended offer: $217k (22.6% below list) — sets the bar for 1% rule.

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: Sunrise Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 759 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 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 (+3.7%/yr); 1111 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $10k; list at $280k implies a 2847% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $216,846 (22.6% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.77% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.03×
• Total profit: $158,973
• Equity at exit: $252,246

10-year hold

• IRR: 22.5%
• Equity multiple: 6.95×
• Total profit: $466,855
• Equity at exit: $543,978

Cash invested: $78,400 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $81

Break-even live

Break-even rent $2,066

Max offer price $280,000

Occupancy floor 91%

Sensitivity live

Price	-10% $240	-5% $160	+0% $81	+5% $-319	+10% $-415
Rent	-10% $-90	-5% $-5	+0% $81	+5% $167	+10% $252
Rate	-1.0pp $222	-0.5pp $152	base $81	+0.5pp $8	+1.0pp $-65

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3219 Hainsworth Ave SE Palm Bay, FL	3.0	2.0	1219	$2,100	$1.72	15d	1	0.23mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	0.28mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	24d	1	0.40mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	14d	1	0.57mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	15d	1	0.61mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	14d	1	0.69mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	22d	1	0.74mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	15d	1	0.80mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.86mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.92mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	24d	1	0.96mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	22d	1	0.96mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	24d	1	1.01mi
1063 Grantham Ln SE Palm Bay, FL	3.0	2.0	1515	$2,000	$1.32	24d	1	1.12mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	15d	1	1.15mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	15d	1	1.17mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	22d	1	1.23mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	24d	1	1.36mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	20d	1	1.38mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	14d	1	1.39mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	24d	1	1.47mi

Listing history 20 events

1. 2026-06-02
   days on market $280,000 Active 42 DOM
2. 2026-06-01
   days on market $280,000 Active 41 DOM
3. 2026-05-31
   days on market $280,000 Active 40 DOM
4. 2026-05-31
   days on market $280,000 Active 39 DOM
5. 2026-04-21
   listed $280,000 Active
6. 2026-04-18
   historical 1543-char remark

   Show marketing remark (1543 chars)

   Under Construction, estimated completion Spring 2026. Completed models available. Builder incentive available. Modern Look, Solid Bones. This brand-new Palm Bay home brings modern Florida living to life, crisp white stucco with wood-look accents, fresh landscaping, and impact windows that keep it quiet, efficient, and storm-ready. Step inside and the vibe hits right away. .. 10-foot ceilings, a bright open layout, and that clean flow between the living, dining, and kitchen spaces. The kitchen's dialed in, white shaker cabinetry (including tall pantry storage), granite counters, a big center island for prep or quick meals, and matte-black fixtures that tie it all together. Stainless appliances and durable wood-look LVP flooring keep the whole space feeling sleek and easy to maintain. The split layout gives the primary suite its own corner, complete with a walk-in closet and a private bath featuring a granite vanity, large-format tile shower, and matte-black finishes for that modern edge. Two guest bedrooms and a full bath mirror the same design, and indoor laundry hookups sit just off the kitchen for everyday convenience. Everything's move-in ready, backed by a full builder warranty, with closing cost assistance available and 100% financing options for qualified buyers. Just outside Bayside Lakes, you're minutes from Publix, Starbucks, Dunkin', and all the everyday spots that make life easy. New, stylish, and built to last, this one's ready when you are. Showings by appointment, come see what Slama Avenue is all about.

7. 2025-11-11
   price $280,000 1543-char remark

   Show marketing remark (1543 chars)

   Under Construction, estimated completion Spring 2026. Completed models available. Builder incentive available. Modern Look, Solid Bones. This brand-new Palm Bay home brings modern Florida living to life, crisp white stucco with wood-look accents, fresh landscaping, and impact windows that keep it quiet, efficient, and storm-ready. Step inside and the vibe hits right away. .. 10-foot ceilings, a bright open layout, and that clean flow between the living, dining, and kitchen spaces. The kitchen's dialed in, white shaker cabinetry (including tall pantry storage), granite counters, a big center island for prep or quick meals, and matte-black fixtures that tie it all together. Stainless appliances and durable wood-look LVP flooring keep the whole space feeling sleek and easy to maintain. The split layout gives the primary suite its own corner, complete with a walk-in closet and a private bath featuring a granite vanity, large-format tile shower, and matte-black finishes for that modern edge. Two guest bedrooms and a full bath mirror the same design, and indoor laundry hookups sit just off the kitchen for everyday convenience. Everything's move-in ready, backed by a full builder warranty, with closing cost assistance available and 100% financing options for qualified buyers. Just outside Bayside Lakes, you're minutes from Publix, Starbucks, Dunkin', and all the everyday spots that make life easy. New, stylish, and built to last, this one's ready when you are. Showings by appointment, come see what Slama Avenue is all about.

8. 2025-10-26
   listed $315,000 Active 1543-char remark

   Show marketing remark (1543 chars)

   Under Construction, estimated completion Spring 2026. Completed models available. Builder incentive available. Modern Look, Solid Bones. This brand-new Palm Bay home brings modern Florida living to life, crisp white stucco with wood-look accents, fresh landscaping, and impact windows that keep it quiet, efficient, and storm-ready. Step inside and the vibe hits right away. .. 10-foot ceilings, a bright open layout, and that clean flow between the living, dining, and kitchen spaces. The kitchen's dialed in, white shaker cabinetry (including tall pantry storage), granite counters, a big center island for prep or quick meals, and matte-black fixtures that tie it all together. Stainless appliances and durable wood-look LVP flooring keep the whole space feeling sleek and easy to maintain. The split layout gives the primary suite its own corner, complete with a walk-in closet and a private bath featuring a granite vanity, large-format tile shower, and matte-black finishes for that modern edge. Two guest bedrooms and a full bath mirror the same design, and indoor laundry hookups sit just off the kitchen for everyday convenience. Everything's move-in ready, backed by a full builder warranty, with closing cost assistance available and 100% financing options for qualified buyers. Just outside Bayside Lakes, you're minutes from Publix, Starbucks, Dunkin', and all the everyday spots that make life easy. New, stylish, and built to last, this one's ready when you are. Showings by appointment, come see what Slama Avenue is all about.

9. 2024-12-04
   historical 359-char remark

   Show marketing remark (359 chars)

   Brand New Construction Completed 11/30/2024. Come See the Beautiful Alayah Model has 1258 Living Sq feet and comes equipped with 3 bedrooms, 2 bathrooms and a single car garage. 10 foot ceilings make this home feel super spacious along with granite countertops and stainless steel appliances. Impact windows secure the home and help maintain super efficiency.

10. 2024-11-18
    listed $309,900 Active 359-char remark

    Show marketing remark (359 chars)

    Brand New Construction Completed 11/30/2024. Come See the Beautiful Alayah Model has 1258 Living Sq feet and comes equipped with 3 bedrooms, 2 bathrooms and a single car garage. 10 foot ceilings make this home feel super spacious along with granite countertops and stainless steel appliances. Impact windows secure the home and help maintain super efficiency.

11. 2023-12-18
    status Pending
12. 2023-04-20
    status Pending
13. 2023-04-19
    historical
14. 2022-02-05
    listed $275,000 Active
15. 2020-01-14
    soldstatus $9,500
16. 2020-01-09
    soldstatus $9,500
17. 2019-06-25
    listed $10,000
18. 2018-12-29
    historical
19. 2017-06-08
    listed $8,950
20. 2004-08-12
    soldstatus $24,500

ⓘ 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: $565 · $47/mo
• Projected year-2 tax: $2,324 · $194/mo
• Expected delta: +$1,759/yr (+$147/mo · 311.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $26,022
• − Mortgage interest: −$15,684
• − Property taxes: −$565
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$8,145
• Taxable loss: −$3,936
• Est. tax savings @ 24.0%: +$945
• After-tax cash flow: $1,917/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+1042.9% since first listed

16 events — show timeline

• 2026-04-21 Listed $280,000 SCMLS
• 2026-04-18 Listing Removed — SCMLS
• 2025-11-11 Price Changed $280,000 SCMLS
• 2025-10-26 Listed $315,000 SCMLS
• 2024-12-04 Listing Removed — SCMLS
• 2024-11-18 Listed $309,900 SCMLS
• 2023-12-18 Pending — SCMLS
• 2023-04-20 Pending — SCMLS
• 2023-04-19 Listing Removed — SCMLS
• 2022-02-05 Listed $275,000 SCMLS
• 2020-01-14 Sold (MLS) $9,500 SCMLS
• 2020-01-09 Sold (Public Records) $9,500 Public Records
• 2019-06-25 Listed $10,000 SCMLS
• 2018-12-29 Listing Removed — SCMLS
• 2017-06-08 Listed $8,950 SCMLS
• 2004-08-12 Sold (Public Records) $24,500 Public Records

Property tax history

+17.6%/yr

Latest (2025): $565 · +8.8% YoY. Source: county tax records.