2456 Andrews Ave · Melbourne, FL 32935

$165,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 182 Days on market

Built 1959 7,841 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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Schools +4.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely maintained 4/1 (includes addition). New paint, newer roof. Huge yard with a wood fence. Outbuilding for storage. Great starter home.

Key facts

• Spacious backyard
• Close to i-95
• Converted garage

Tags

• CONVERTED GARAGE
• ROOF REPLACED
• SPACIOUS BACKYARD
• CLOSE TO I-95
• 10 MINUTES FROM BEACH

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Attached garage
• Utilities: Public sewer; Sewer connected; Water connected
• Home design: Single family residence
• Construction: Block and concrete construction
• Exterior features: Lot includes other features; Lot size about 0.18 acres; Property faces north

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Residential use; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/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 $160k (2.9% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Sabal Elementary School (math 38% / reading 41%, grade F, #1,513 of 2,144 statewide, top 73%, 503 students, 69% FRL); Lyndon B. Johnson Middle School (math 40% / reading 42%, grade F, #353 of 571 statewide, top 63%, 610 students, 61% FRL); Eau Gallie High School (math 20% / reading 49%, grade F, #386 of 667 statewide, top 59%, 1,586 students, 55% FRL) — zoned schools average 62% FRL vs 43% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 55% district-wide (-17 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 332 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.97% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-16,901
• Equity at exit: $24,602

10-year hold

• IRR: -4.5%
• Equity multiple: 0.73×
• Total profit: $-12,307
• Equity at exit: $14,266

Cash invested: $46,200 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,601 high
• Mortgage (P&I): −$865
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $216

Break-even live

Break-even rent $1,328

Max offer price $165,000

Occupancy floor 82%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2587 Pepper Ave Melbourne, FL	3.0	1.0	800	$1,575	$1.97	23d	1	0.22mi
848 Comanche Ave Melbourne, FL	3.0	2.0	1080	$1,950	$1.81	23d	1	0.31mi
2659 Burns Ave Melbourne, FL	3.0	1.0	1044	$1,850	$1.77	23d	1	0.31mi
2794 Rhonda Ln Melbourne, FL	2.0	2.0	996	$1,900	$1.91	23d	1	0.40mi
1225 N Wickham Rd #726 Melbourne, FL	2.0	2.0	859	$1,500	$1.75	21d	1	0.53mi
2910 Zephyr Ln Melbourne, FL	2.0	1.0	828	$1,700	$2.05	23d	1	0.56mi
1965 Barkley Ave Melbourne, FL	3.0	1.0	1000	$1,600	$1.60	23d	1	0.74mi
820 N Wickham Rd Melbourne, FL	1.0–2.0	1.0	720	$1,385	$1.92	14d	8	0.80mi
1688 Eisenhower Ave Melbourne, FL	3.0	1.5	988	$1,700	$1.72	23d	1	0.88mi
653 Ridge Club Dr #27 Melbourne, FL	2.0	1.5	900	$1,550	$1.72	23d	1	0.99mi
500 N Wickham Rd Melbourne, FL	2.0	2.0	1000	$1,449	$1.45	14d	8	1.02mi
2242 Flower Tree Cir Melbourne, FL	2.0	2.0	879	$1,300	$1.48	23d	1	1.22mi
109 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	21d	1	1.26mi
1032 Hidden Harbour Dr Melbourne, FL	1.0	1.0	752	$1,259	$1.67	14d	1	1.27mi
1032 Hidden Harbour Dr Melbourne, FL	1.0	1.0	921	$1,249	$1.36	23d	1	1.27mi
196 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	23d	1	1.28mi
214 San Juan Cir Melbourne, FL	1.0	1.0	708	$1,250	$1.77	23d	1	1.29mi
2082 Foxwood Dr Melbourne, FL	2.0	2.0	975	$1,600	$1.64	14d	1	1.39mi
265 Ulster Ct Melbourne, FL	1.0	1.0	602	$1,300	$2.16	23d	1	1.41mi
188 Berkshire Ln Melbourne, FL	3.0	2.0	1094	$1,750	$1.60	19d	1	1.42mi
2420 Central Park Dr Melbourne, FL	1.0–3.0	1.0–2.0	1045	$1,799	$1.72	14d	11	1.42mi
181 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,400	$1.57	23d	1	1.43mi
177 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,300	$1.46	23d	1	1.43mi
280 Ulster Ln Melbourne, FL	3.0	2.0	1094	$1,600	$1.46	23d	1	1.44mi
254 Ulster Ln Melbourne, FL	3.0	2.0	1094	$1,600	$1.46	14d	1	1.44mi
2414 Summerset Dr Melbourne, FL	2.0	2.0	1065	$1,450	$1.36	23d	1	1.45mi
189 Cambridge Ln Melbourne, FL	3.0	2.0	1094	$1,600	$1.46	23d	1	1.45mi
217 Bristol Ln Melbourne, FL	2.0	2.0	890	$1,395	$1.57	23d	1	1.48mi

Listing history 14 events

1. 2026-06-01
   days on market $165,000 Active 182 DOM
2. 2026-05-31
   days on market $165,000 Active 181 DOM
3. 2026-05-31
   days on market $165,000 Active 180 DOM
4. 2026-04-03
   price $165,000
5. 2026-03-06
   price $173,500
6. 2025-12-12
   price $183,500
7. 2025-12-01
   listed $185,000 Active
8. 2025-06-23
   soldstatus $116,000
9. 2013-12-31
   historical
10. 2013-11-27
    historical 139-char remark

    Show marketing remark (139 chars)

    Nicely maintained 4/1 (includes addition). New paint, newer roof. Huge yard with a wood fence. Outbuilding for storage. Great starter home.

11. 2013-02-08
    listed $78,000
12. 2012-03-27
    listed $78,000 139-char remark

    Show marketing remark (139 chars)

    Nicely maintained 4/1 (includes addition). New paint, newer roof. Huge yard with a wood fence. Outbuilding for storage. Great starter home.

13. 2000-10-26
    soldstatus $53,000
14. 1966-10-01
    soldstatus $87,000

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,382 · $115/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°F today · 25 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: $19,216
• − Mortgage interest: −$9,243
• − Property taxes: −$1,382
• − Insurance: −$825
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − Depreciation: −$4,800
• Taxable loss: −$107
• Est. tax savings @ 24.0%: +$26
• After-tax cash flow: $2,617/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

+89.7% since first listed

11 events — show timeline

• 2026-04-03 Price Changed $165,000 SCMLS
• 2026-03-06 Price Changed $173,500 SCMLS
• 2025-12-12 Price Changed $183,500 SCMLS
• 2025-12-01 Listed $185,000 SCMLS
• 2025-06-23 Sold (Public Records) $116,000 Public Records
• 2013-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2013-11-27 Listing Removed — SCMLS
• 2013-02-08 Listed $78,000 Stellar MLS as Distributed by MLS Grid
• 2012-03-27 Listed $78,000 SCMLS
• 2000-10-26 Sold (Public Records) $53,000 Public Records
• 1966-10-01 Sold (Public Records) $87,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,382 · +5.9% YoY. Source: county tax records.