603 Josephine St · Titusville, FL 32796

$254,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 88 Days on market

Built 1958 9,148 sqft lot

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Why this score? — see what drove the F 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity to own two houses in one ! Concrete block construction. City water and city sewer. Corner lot. Main house is 3 bed & 1.5 bath with a large living/great room and eat-in updated kitchen with granite counters. . Tile floors throughout. Brand new A/C, . The apartment/cottage is 2 bed and 1 bath with a good-sized living room and new wall unit A/C. Recent updates include kitchen and most plumbing but will need sewer line to be upgraded to PVC. Courtyard w/ a masonry bar-b-que ties in both homes. Flat roofs on both homes have been updated. Lots of possibilities here. Main house rents for $1250/month cottage $800/month. conveniently located close to shopping, schools, restaurants, beaches and more. Additional parking for your boat, RV or trailer. Cash only.

Key facts

• Two separate units
• Desirable location
• Charming duplex

Tags

• CHARMING DUPLEX
• TWO SEPARATE UNITS
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (30.3% below list).
• Recommended offer: $178k (30.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#42 in FL, #668 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment 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: Mims Elementary School (math 42% / reading 47%, grade F, #1,288 of 2,144 statewide, top 62%, 462 students, 80% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 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 flat; 256 active listings in the ZIP; 10 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).
• This rent runs 32% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 88 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 $136k; list at $255k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $177,689 (30.3% 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 88 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.08×
• Total profit: $-65,809
• Equity at exit: $38,006

10-year hold

• IRR: -38.9%
• Equity multiple: -0.40×
• Total profit: $-99,883
• Equity at exit: $22,039

Cash invested: $71,372 (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 32796

• Rents YoY: 0.6%
• Active inventory: 256
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$213 /mo · $2,557/yr
• Insurance: −$106
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-319

Break-even live

Break-even rent $2,180

Max offer price $198,598

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
660 Minnie St Titusville, FL	3.0	1.5	1860	$1,500	$0.81	23d	1	0.11mi
230 N Robbins Ave Titusville, FL	2.0	1.0	880	$1,100	$1.25	23d	1	0.32mi
405 Dummitt Ave Titusville, FL	3.0	2.0	1320	$2,150	$1.63	21d	1	0.46mi
1795 S Lilac Cir Titusville, FL	3.0	2.0	1584	$2,000	$1.26	23d	1	0.71mi
2008 Vaughn St Titusville, FL	3.0	1.5	1198	$1,850	$1.54	23d	1	0.88mi
513 Warren St Unit 513 Titusville, FL	2.0	1.0	1410	$1,480	$1.05	23d	1	1.03mi
1023 S Park Ave Titusville, FL	2.0–3.0	2.0	1002	$1,400	$1.40	13d	1	1.05mi
1428 Riverside Dr Titusville, FL	3.0	1.0	1412	$2,200	$1.56	23d	1	1.42mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,300	$1.76	14d	1	1.49mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,200	$1.69	23d	1	1.49mi

Listing history 18 events

1. 2026-04-24
   status Pending
2. 2026-03-19
   price $254,900
3. 2026-01-23
   listed $264,900 Active
4. 2024-03-13
   historical $1,650
5. 2024-03-13
   historical $1,650
6. 2024-03-13
   listed $1,650
7. 2024-03-13
   listed $1,250
8. 2023-03-30
   soldstatus $135,600
9. 2021-05-30
   historical 787-char remark

   Show marketing remark (787 chars)

   Excellent opportunity to own two houses in one ! Concrete block construction. City water and city sewer. Corner lot. Main house is 3 bed & 1.5 bath with a large living/great room and eat-in updated kitchen with granite counters. . Tile floors throughout. Brand new A/C, . The apartment/cottage is 2 bed and 1 bath with a good-sized living room and new wall unit A/C. Recent updates include kitchen and most plumbing but will need sewer line to be upgraded to PVC. Courtyard w/ a masonry bar-b-que ties in both homes. Flat roofs on both homes have been updated. Lots of possibilities here. Main house rents for $1250/month cottage $800/month. conveniently located close to shopping, schools, restaurants, beaches and more. Additional parking for your boat, RV or trailer. Cash only.

10. 2021-05-14
    listed $209,900 Active 787-char remark

    Show marketing remark (787 chars)

    Excellent opportunity to own two houses in one ! Concrete block construction. City water and city sewer. Corner lot. Main house is 3 bed & 1.5 bath with a large living/great room and eat-in updated kitchen with granite counters. . Tile floors throughout. Brand new A/C, . The apartment/cottage is 2 bed and 1 bath with a good-sized living room and new wall unit A/C. Recent updates include kitchen and most plumbing but will need sewer line to be upgraded to PVC. Courtyard w/ a masonry bar-b-que ties in both homes. Flat roofs on both homes have been updated. Lots of possibilities here. Main house rents for $1250/month cottage $800/month. conveniently located close to shopping, schools, restaurants, beaches and more. Additional parking for your boat, RV or trailer. Cash only.

11. 2016-08-16
    historical 483-char remark

    Show marketing remark (483 chars)

    Bring your investors!! Two houses in one. Main house has three bedrooms & a bath. Sports a large living/great room with eat-in kitchen. Tile floors throughout and indoor laundry. Newer A/C, too. The apartment/cottage has two bedrooms and a bath. Also a good-sized living room. Wall units for A/C. Newer windows and hot water tank. Courtyard w/ a masonry bar-b-que ties in both homes. Roofs on both homes only a couple of years old! Lots of possibilities here. Come take a look!

12. 2016-08-16
    historical

    Show marketing remark (483 chars)

    Bring your investors!! Two houses in one. Main house has three bedrooms & a bath. Sports a large living/great room with eat-in kitchen. Tile floors throughout and indoor laundry. Newer A/C, too. The apartment/cottage has two bedrooms and a bath. Also a good-sized living room. Wall units for A/C. Newer windows and hot water tank. Courtyard w/ a masonry bar-b-que ties in both homes. Roofs on both homes only a couple of years old! Lots of possibilities here. Come take a look!

13. 2007-12-08
    listed $109,000 483-char remark

    Show marketing remark (483 chars)

    Bring your investors!! Two houses in one. Main house has three bedrooms & a bath. Sports a large living/great room with eat-in kitchen. Tile floors throughout and indoor laundry. Newer A/C, too. The apartment/cottage has two bedrooms and a bath. Also a good-sized living room. Wall units for A/C. Newer windows and hot water tank. Courtyard w/ a masonry bar-b-que ties in both homes. Roofs on both homes only a couple of years old! Lots of possibilities here. Come take a look!

14. 2004-06-18
    listed $110,000
15. 2001-06-11
    soldstatus $57,000
16. 1998-05-15
    soldstatus $41,500
17. 1992-06-01
    soldstatus $55,000
18. 1988-12-01
    soldstatus $62,000

ⓘ 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: $2,557 · $213/mo
• Projected year-2 tax: $2,557 · $213/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $21,323
• − Mortgage interest: −$14,278
• − Property taxes: −$2,557
• − Insurance: −$2,072
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$7,415
• Taxable loss: −$8,411
• Est. tax savings @ 24.0%: +$2,019
• After-tax cash flow: $-1,806/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 — Titusville

• Score: 84/100
• State rank: #42
• US rank: #668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Titusville, FL
• County: Brevard County · 602,871 people
• City population: 60,286
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

+311.1% since first listed

18 events — show timeline

• 2026-04-24 Pending — SCMLS
• 2026-03-19 Price Changed $254,900 SCMLS
• 2026-01-23 Listed $264,900 SCMLS
• 2024-03-13 Rental Removed $1,650 APPFOLIO
• 2024-03-13 Rental Removed $1,650 APPFOLIO
• 2024-03-13 Listed for Rent $1,650 APPFOLIO
• 2024-03-13 Listed for Rent $1,250 APPFOLIO
• 2023-03-30 Sold (Public Records) $135,600 Public Records
• 2021-05-30 Listing Removed — SCMLS
• 2021-05-14 Listed $209,900 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2007-12-08 Listed $109,000 SCMLS
• 2004-06-18 Listed $110,000 SCMLS
• 2001-06-11 Sold (Public Records) $57,000 Public Records
• 1998-05-15 Sold (Public Records) $41,500 Public Records
• 1992-06-01 Sold (Public Records) $55,000 Public Records
• 1988-12-01 Sold (Public Records) $62,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,557 · -2.2% YoY. Source: county tax records.