6411 Borasco Dr #217 · Viera West, FL 32940

$172,500

2 bd · 2.0 ba · 1,157 sqft · Condo public records · 29 Days on market

Built 2005 $713/mo HOA · 36% 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).

• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Cash flow +6.1/30.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0

Listing remarks MLS

Short Sale. .Enjoy living in a resort style community with ammenities for the entire family. Easy access to the Avenues mall, movies, and restaurants.

Key facts

• Community pool
• Screened balcony
• Large walk in closet

Tags

• OPEN KITCHEN
• BREAKFAST BAR
• LARGE WALK IN CLOSET
• SCREENED BALCONY
• SEPARATE LAUNDRY ROOM
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Part of Three Fountains association; Monthly association fee; Association amenities: Barbecue, Cable TV, Clubhouse, Fitness center, Gated community, Jogging path, Grounds maintenance, Structure maintenance, Trash service; Association fee includes cable TV, insurance, grounds maintenance, structure maintenance, sewer, and trash

Exterior

• Parking: Assigned parking in parking lot
• Security: Fire sprinkler system; Gated community
• Utilities: Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Faces west; Entry on level 2; 3-story building
• Construction: Frame and stucco construction; Shingle roof; Pets allowed with restrictions (breed, number, size limits; cats and dogs OK)
• Exterior features: Balcony; Screened porch/patio

Interior

• Kitchen: Dishwasher; Electric oven and electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar and breakfast nook; Ceiling fans; His and hers closets; Primary bathroom with tub and shower; Split bedroom floor plan; Walk-in closet
• Laundry & utility: Washer and dryer included; Washer hookup and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $172k.

Deal economics

• At list price, monthly cash flow is $-324 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (33.2% below list).
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $115k (33.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 70/100 on livability (#450 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: amenities F, commute F, cost of living 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: Quest Elementary School (math 83% / reading 80%, grade A+, #90 of 2,144 statewide, top 4%, 691 students, 20% 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 70% at this address vs 55% district-wide (+15 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); 583 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $696 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 29 days — a 2% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask is 10199% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $71k; list at $172k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $115,282 (33.2% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.16% ✓
• Cap rate: 4.04%
• Cash-on-cash: -8.05%
• DSCR: 0.64
• GRM: 7.2

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: -10.4%
• Equity multiple: 0.50×
• Total profit: $-23,985
• Equity at exit: $53,594

10-year hold

• IRR: -5.2%
• Equity multiple: 0.43×
• Total profit: $-27,458
• Equity at exit: $67,292

Cash invested: $48,300 (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: 583
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$905
• Tax from tax record: −$216 /mo · $2,587/yr
• Insurance: −$72
• HOA: −$713
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-324

Break-even live

Break-even rent $2,411

Max offer price $115,282

Occupancy floor —

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: $43,125
• Closing costs: $5,175
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6411 Borasco Dr Melbourne, FL	2.0–3.0	2.0	1258	$1,700	$1.35	23d	1	0.02mi
6431 Borasco Dr Melbourne, FL	1.0–2.0	1.0–2.0	869	$1,950	$2.24	19d	2	0.07mi
2185 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1192	$2,008	$1.68	13d	17	0.11mi
6451 Borasco Dr Melbourne, FL	1.0	1.0	781	$1,698	$2.17	14d	2	0.12mi
6450 Borasco Dr #3707 Melbourne, FL	1.0	1.0	868	$1,600	$1.84	14d	1	0.15mi
2560 Judge Fran Jamieson Way Melbourne, FL	1.0–3.0	1.0–2.0	1091	$2,186	$2.00	13d	14	0.27mi
2992 Rodina Dr Melbourne, FL	1.0–2.0	1.0–2.0	963	$2,585	$2.68	14d	8	0.42mi
6705 Shadow Creek Trl Melbourne, FL	1.0–3.0	1.0–2.0	1123	$2,242	$2.00	13d	25	0.45mi
2439 Casona Ln Melbourne, FL	1.0–2.0	1.0–2.0	964	$2,251	$2.34	13d	14	0.69mi
1622 Laramie Cir Melbourne, FL	3.0	2.0	1390	$2,600	$1.87	14d	1	0.79mi
2301 Willet Pl Melbourne, FL	1.0–3.0	1.0–2.0	1109	$2,602	$2.35	13d	27	0.80mi
1766 Sophias Dr #302 Melbourne, FL	2.0	2.0	1020	$1,750	$1.72	23d	1	1.12mi
1747 Sophias Dr #202 Melbourne, FL	3.0	2.0	1278	$2,200	$1.72	14d	1	1.13mi
1747 Sophias Dr Melbourne, FL	2.0–3.0	2.0	1149	$1,850	$1.61	23d	2	1.13mi
5693 Star Rush Dr #207 Melbourne, FL	2.0	2.0	1139	$1,695	$1.49	23d	1	1.14mi
6848 Toland Dr #406 Melbourne, FL	2.0	2.0	1232	$2,000	$1.62	23d	1	1.18mi
6828 Toland Dr #402 Melbourne, FL	2.0	2.0	1232	$2,500	$2.03	14d	1	1.20mi
6828 Toland Dr Melbourne, FL	2.0	2.0	1232	$2,248	$1.82	19d	2	1.22mi
6828 Toland Dr Melbourne, FL	2.0	2.0	1232	$2,248	$1.82	23d	2	1.22mi

HOA detail condo

• Monthly dues: $713 · $8,556/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $172,500 Active 29 DOM
2. 2026-06-17
   pricedays on market $172,500 Active 28 DOM
3. 2026-06-16
   days on market $175,000 Active 27 DOM
4. 2026-06-15
   days on market $175,000 Active 26 DOM
5. 2026-06-14
   days on market $175,000 Active 24 DOM
6. 2026-06-10
   days on market $175,000 Active 21 DOM
7. 2026-06-08
   days on market $175,000 Active 19 DOM
8. 2026-06-07
   days on market $175,000 Active 18 DOM
9. 2026-06-05
   days on market $175,000 Active 15 DOM
10. 2026-06-03
    days on market $175,000 Active 14 DOM
11. 2026-06-02
    days on market $175,000 Active 13 DOM
12. 2026-06-01
    days on market $175,000 Active 12 DOM
13. 2026-05-31
    days on market $175,000 Active 11 DOM
14. 2026-05-31
    days on market $175,000 Active 10 DOM
15. 2026-05-23
    listed $1,675
16. 2026-05-20
    listed $175,000 Active
17. 2011-09-20
    soldstatus $71,000
18. 2011-08-31
    soldstatus $71,000 150-char remark

    Show marketing remark (150 chars)

    Short Sale. .Enjoy living in a resort style community with ammenities for the entire family. Easy access to the Avenues mall, movies, and restaurants.

19. 2009-12-28
    listed $76,000 150-char remark

    Show marketing remark (150 chars)

    Short Sale. .Enjoy living in a resort style community with ammenities for the entire family. Easy access to the Avenues mall, movies, and restaurants.

ⓘ 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: $2,587 · $216/mo
• Projected year-2 tax: $2,587 · $216/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: $24,017
• − Mortgage interest: −$9,663
• − Property taxes: −$2,587
• − Insurance: −$862
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$8,556
• − Depreciation: −$5,018
• Taxable loss: −$6,511
• Est. tax savings @ 24.0%: +$1,563
• After-tax cash flow: $-2,324/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 West

• Score: 70/100
• State rank: #450
• US rank: #8106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Viera West, 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

-97.8% since first listed

5 events — show timeline

• 2026-05-23 Listed for Rent $1,675 SCMLS
• 2026-05-20 Listed $175,000 SCMLS
• 2011-09-20 Sold (Public Records) $71,000 Public Records
• 2011-08-31 Sold (MLS) $71,000 SCMLS
• 2009-12-28 Listed $76,000 SCMLS

Property tax history

+6.0%/yr

Latest (2025): $2,587 · -1.2% YoY. Source: county tax records.