821 Airport Ave SE · Palm Bay, FL 32909

$377,250

4 bd · 2.0 ba · 1,820 sqft · SingleFamily · 31 Days on market

Built 2026 Good condition 0.27 ac lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.3/30.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks

$1,000 deposit and closing costs paid with preferred lender. Welcome to the thoughtfully designed 1,820 ''All-In Plan, '' where flexibility, comfort, and modern Florida living come together in this 4-bedroom, 2-bath home. Now featuring new premium black finishes for a sleek, updated look. Relax on the covered lanai overlooking a peaceful lake--your own private space to unwind. This exceptional layout includes a formal dining area and a charming kitchen nook, perfect for gathering and entertaining. A front bedroom with double doors offers flexibility as a home office, hobby room, or guest retreat. The private owner's suite features dual vanities and a spacious walk-in closet. Make this home

Key facts

• Covered lanai
• Peaceful lake
• Formal dining area

Tags

• COVERED LANAI
• PEACEFUL LAKE
• FORMAL DINING AREA
• CHARMING KITCHEN NOOK
• HOME OFFICE
• PRIVATE OWNER'S SUITE

Property features AI

Exterior

• Parking: Attached garage (3 spaces)
• Utilities: Aerobic septic; Cable available; Electricity available
• Home design: Single family residence; Faces west; New construction
• Construction: Block and concrete construction
• Exterior features: Covered patio; Cleared lot

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Plumbed for ice maker
• Bedrooms: 4 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, hot water); Central air conditioning (electric)
• Interior features: Open floorplan; Entrance foyer; Vaulted ceilings; Breakfast bar; Breakfast nook; Eat-in kitchen; Pantry; His and hers closets; Walk-in closets; Primary bathroom with tub and separate shower
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $377k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-831 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (31.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (40.4% below list).
• Recommended offer: $225k (40.4% 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 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 rising (+3.7%/yr); 1123 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 34% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($366k) is reasonable based on typical stale-listing flexibility.

Recommended offer $224,792 (40.4% 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. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.60% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.44%
• DSCR: 0.58
• GRM: 14.0

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: 17.8%
• Equity multiple: 2.46×
• Total profit: $154,079
• Equity at exit: $339,857

10-year hold

• IRR: 16.8%
• Equity multiple: 5.72×
• Total profit: $498,618
• Equity at exit: $732,914

Cash invested: $105,630 (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: 1123
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,248 high
• Mortgage (P&I): −$1,978
• Tax est. 1.5%: −$472 /mo · $5,659/yr
• Insurance: −$157
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-831

Break-even live

Break-even rent $3,300

Max offer price $256,970

Occupancy floor —

Sensitivity live

Price	-10% $-571	-5% $-701	+0% $-831	+5% $-962	+10% $-1,092
Rent	-10% $-1,009	-5% $-920	+0% $-831	+5% $-742	+10% $-654
Rate	-1.0pp $-641	-0.5pp $-735	base $-831	+0.5pp $-929	+1.0pp $-1,028

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: $94,312
• Closing costs: $11,318
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	25d	1	0.13mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	20d	1	0.22mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	15d	1	0.32mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	16d	1	0.41mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	16d	1	0.51mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	25d	1	0.74mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	15d	1	0.79mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	20d	1	0.81mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	25d	1	0.83mi
647 Airoso Rd SE Palm Bay, FL	4.0	3.0	2365	$2,900	$1.23	15d	1	0.83mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	22d	1	0.86mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	25d	1	0.90mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	25d	1	0.96mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	16d	1	1.03mi
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	25d	1	1.17mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	25d	1	1.18mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	25d	1	1.20mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	15d	1	1.25mi
487 Wiltshire Ave SW Palm Bay, FL	3.0	2.0	1462	$2,300	$1.57	25d	1	1.34mi
511 Trumpet St SW Palm Bay, FL	3.0	2.0	1243	$2,200	$1.77	25d	1	1.36mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	25d	1	1.40mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	25d	1	1.41mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	15d	1	1.42mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	22d	1	1.47mi

Listing history 17 events

1. 2026-06-22
   days on market $377,250 Active 31 DOM
2. 2026-06-18
   days on market $377,250 Active 28 DOM
3. 2026-06-17
   days on market $377,250 Active 27 DOM
4. 2026-06-16
   days on market $377,250 Active 26 DOM
5. 2026-06-15
   days on market $377,250 Active 25 DOM
6. 2026-06-14
   days on market $377,250 Active 23 DOM
7. 2026-06-10
   pricedays on market $377,250 Active 20 DOM
8. 2026-06-08
   days on market $374,250 Active 18 DOM
9. 2026-06-07
   days on market $374,250 Active 17 DOM
10. 2026-06-05
    days on market $374,250 Active 14 DOM
11. 2026-06-03
    days on market $374,250 Active 13 DOM
12. 2026-06-02
    days on market $374,250 Active 12 DOM
13. 2026-06-01
    days on market $374,250 Active 11 DOM
14. 2026-05-31
    days on market $374,250 Active 10 DOM
15. 2026-05-31
    days on market $374,250 Active 9 DOM
16. 2026-05-23
    price $374,250
17. 2026-05-21
    listed $369,250 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,975
• − Mortgage interest: −$21,132
• − Property taxes: −$5,659
• − Insurance: −$1,886
• − Repairs & maintenance: −$2,158
• − Management: −$2,158
• − Depreciation: −$10,975
• Taxable loss: −$16,992
• Est. tax savings @ 24.0%: +$4,078
• After-tax cash flow: $-5,897/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in excellent condition with modern updates and a well-maintained exterior. Staging and adding smart home features would further enhance its appeal and value.

Value-add opportunities

• Resale Staging the home to showcase its features and appeal to potential buyers. — Staging can significantly enhance the home's appeal and attract more interest from potential buyers.
• Both Adding smart home features to improve convenience and energy efficiency. — Smart home features can increase both resale and rental value by making the home more attractive and energy-efficient.

Renovation cost estimate screening

Value-add ROI direction

• Resale Staging the home to showcase its features and appeal to potential buyers. — Staging can significantly enhance the home's appeal and attract more interest from potential buyers. ↑
• Both Adding smart home features to improve convenience and energy efficiency. — Smart home features can increase both resale and rental value by making the home more attractive and energy-efficient. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+1.4% since first listed

2 events — show timeline

• 2026-05-23 Price Changed $374,250 SCMLS
• 2026-05-21 Listed $369,250 SCMLS