504 Jean Cir · West Melbourne, FL 32904

$229,000

3 bd · 2.0 ba · 1,674 sqft · Manufactured public records · 49 Days on market

Built 2004 6,970 sqft 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).

• Cash flow +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully upgraded, move-in ready, best value in the community. Currently the largest newer home available on its own lot. High end design features throughout with better quality construction than most manufactured homes. Highest wind rating and highest energy efficiency rating (R30 walls). 2 x6 exterior wall studs and 2 x8 floor joists. Ceilings have R-33 insulation and windows are tinted. Eatra wide driveway, very large carport with storage facility.

Key facts

• 6,970 sq ft lot
• Parking
• Built 2004

Property features AI

Finance

• HOA & community: Senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Public sewer; Cable connected; Electricity available and connected; Natural gas available; Sewer connected; Water connected
• Home design: Manufactured home; Single-family use
• Construction: Vinyl siding
• Exterior features: East-facing; Lot features: Other

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Accessible approach with ramp and accessible entrance; Dishwasher; Dryer; Electric range; Gas water heater; Microwave; Refrigerator; Washer
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/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 $224k (2.1% below list).
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#73 in FL, #1,214 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: commute D+, amenities 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: Meadowlane Primary Elementary School (650 students, 47% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents soft (-0.3%/yr); 304 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 49 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $80k; list at $229k implies a 186% 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 $222,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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. 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?
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: 0.98% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.51×
• Total profit: $-31,609
• Equity at exit: $34,145

10-year hold

• IRR: -11.2%
• Equity multiple: 0.42×
• Total profit: $-37,285
• Equity at exit: $19,800

Cash invested: $64,120 (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 32904

• Rents YoY: -0.3%
• Active inventory: 304
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,242 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $189

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 87%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
561 Parker Rd Melbourne, FL	4.0	2.0	1623	$2,300	$1.42	19d	1	0.21mi
4850 Sutton Ave Melbourne, FL	3.0	2.0	1166	$1,850	$1.59	14d	1	0.26mi
760 John Adams Ln Melbourne, FL	3.0	2.0	1288	$1,950	$1.51	23d	1	0.52mi
4850 Heritage Lakes BLVD West Melbourne, FL	1.0–3.0	1.0–2.5	1018	$2,444	$2.40	14d	119	0.71mi
49 Piney Branch Way Unit A Melbourne, FL	2.0	2.5	1288	$1,600	$1.24	14d	1	0.86mi
3020 Mary St Melbourne, FL	3.0	1.0	1072	$2,095	$1.95	23d	1	0.90mi
282 W Laila Dr Melbourne, FL	4.0	2.0	1732	$2,499	$1.44	23d	1	0.90mi
193 Dayton Blvd Melbourne Village, FL	3.0	2.5	1656	$2,500	$1.51	23d	1	1.08mi
2114 Nebula Way West Melbourne, FL	1.0–2.0	1.0–2.0	982	$2,031	$2.07	13d	15	1.09mi
195 Dayton Blvd Melbourne, FL	3.0	2.5	1656	$2,500	$1.51	23d	1	1.09mi
197 Dayton Blvd Melbourne Village, FL	3.0	2.5	1656	$2,500	$1.51	23d	1	1.09mi
2824 Coleman Ct Melbourne Village, FL	2.0	2.0	1200	$1,600	$1.33	23d	1	1.12mi
2891 Stratford Pointe Dr Melbourne, FL	4.0	2.0	1627	$2,500	$1.54	14d	1	1.23mi
101 San Paulo Cir Unit 14-101 Melbourne, FL	2.0	2.0	1220	$1,500	$1.23	14d	1	1.26mi
1291 Tamango Dr Melbourne, FL	4.0	2.5	2012	$3,000	$1.49	23d	1	1.27mi
223 San Paulo Cir Unit 8-223 Melbourne, FL	2.0	2.0	1080	$1,500	$1.39	23d	1	1.30mi
1361 Tamango Dr Melbourne, FL	3.0	2.0	1815	$2,350	$1.29	23d	1	1.33mi
1065 Sedgewood Cir Melbourne, FL	4.0	2.0	1861	$2,300	$1.24	14d	1	1.35mi
1152 Bainbury Ln Melbourne, FL	3.0	2.0	1297	$2,000	$1.54	23d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $229,000 Active 49 DOM
2. 2026-06-17
   days on market $229,000 Active 48 DOM
3. 2026-06-16
   days on market $229,000 Active 47 DOM
4. 2026-06-15
   days on market $229,000 Active 46 DOM
5. 2026-06-14
   days on market $229,000 Active 44 DOM
6. 2026-06-10
   days on market $229,000 Active 41 DOM
7. 2026-06-08
   days on market $229,000 Active 39 DOM
8. 2026-06-07
   days on market $229,000 Active 38 DOM
9. 2026-06-05
   days on market $229,000 Active 35 DOM
10. 2026-06-03
    days on market $229,000 Active 34 DOM
11. 2026-06-02
    days on market $229,000 Active 33 DOM
12. 2026-06-01
    days on market $229,000 Active 32 DOM
13. 2026-05-31
    days on market $229,000 Active 31 DOM
14. 2026-05-31
    days on market $229,000 Active 30 DOM
15. 2026-04-30
    listed $229,000 Active
16. 2014-09-29
    soldstatus $80,000
17. 2012-06-29
    soldstatus $61,500
18. 2012-06-07
    soldstatus $61,500 458-char remark

    Show marketing remark (458 chars)

    Beautifully upgraded, move-in ready, best value in the community. Currently the largest newer home available on its own lot. High end design features throughout with better quality construction than most manufactured homes. Highest wind rating and highest energy efficiency rating (R30 walls). 2 x6 exterior wall studs and 2 x8 floor joists. Ceilings have R-33 insulation and windows are tinted. Eatra wide driveway, very large carport with storage facility.

19. 2012-04-28
    listed $65,000 458-char remark

    Show marketing remark (458 chars)

    Beautifully upgraded, move-in ready, best value in the community. Currently the largest newer home available on its own lot. High end design features throughout with better quality construction than most manufactured homes. Highest wind rating and highest energy efficiency rating (R30 walls). 2 x6 exterior wall studs and 2 x8 floor joists. Ceilings have R-33 insulation and windows are tinted. Eatra wide driveway, very large carport with storage facility.

20. 2010-04-27
    soldstatus $79,000
21. 2010-04-23
    soldstatus $79,000 1161-char remark

    Show marketing remark (1161 chars)

    Owner impatient - says bring all offers!!! Truly beautiful interior and almost new. Currently the largest newer home available on its own lot. High end design features throughout with better quality construction than most frame homes. Highest wind rating (better than stick built) and highest energy efficiency rating (R30 walls). 2''''x6'''' exterior wall studs and 2''''x8'''' floor joists. Ceilings have R-33 insulation and windows are tinted. Indoor laundry room and roomy pantry right off the kitchen '||chr(10)||'Addendum - makes this home so livable. High grade extra strength floors with like new tile and carpet. Interior doors are wider than normal (3' wide), 2x4 instead of 2x2 interior walls, extra wood trim package, upgraded to normal size appliances, white cabinets with glass doors. Very open with high ceilings, large rooms. A similar sized frame home of lower quality will cost double. Large screened porch on front with oversized utility building at end of carport. Being sold for less than would it cost to reconstruct on site with all the additional built items. All windows have both solar tinting and installable clear storm cover panels.

22. 2009-02-17
    listed $89,900 1161-char remark

    Show marketing remark (1161 chars)

    Owner impatient - says bring all offers!!! Truly beautiful interior and almost new. Currently the largest newer home available on its own lot. High end design features throughout with better quality construction than most frame homes. Highest wind rating (better than stick built) and highest energy efficiency rating (R30 walls). 2''''x6'''' exterior wall studs and 2''''x8'''' floor joists. Ceilings have R-33 insulation and windows are tinted. Indoor laundry room and roomy pantry right off the kitchen '||chr(10)||'Addendum - makes this home so livable. High grade extra strength floors with like new tile and carpet. Interior doors are wider than normal (3' wide), 2x4 instead of 2x2 interior walls, extra wood trim package, upgraded to normal size appliances, white cabinets with glass doors. Very open with high ceilings, large rooms. A similar sized frame home of lower quality will cost double. Large screened porch on front with oversized utility building at end of carport. Being sold for less than would it cost to reconstruct on site with all the additional built items. All windows have both solar tinting and installable clear storm cover panels.

23. 2003-08-26
    soldstatus $77,000
24. 1990-06-01
    soldstatus $65,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 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: $26,910
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,153
• − Management: −$2,153
• − Depreciation: −$6,662
• Taxable loss: −$1,465
• Est. tax savings @ 24.0%: +$352
• After-tax cash flow: $2,620/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 — West Melbourne

• Score: 82/100
• State rank: #73
• US rank: #1214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Melbourne, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 37,241
• Household income: $90,673
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 597.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 10% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Chinese 2%

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: ▼ -195.98%
• Current HPI: 304.2546
• Rent YoY: ▼ -0.32%
• 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

+252.3% since first listed

10 events — show timeline

• 2026-04-30 Listed $229,000 SCMLS
• 2014-09-29 Sold (Public Records) $80,000 Public Records
• 2012-06-29 Sold (Public Records) $61,500 Public Records
• 2012-06-07 Sold (MLS) $61,500 SCMLS
• 2012-04-28 Listed $65,000 SCMLS
• 2010-04-27 Sold (Public Records) $79,000 Public Records
• 2010-04-23 Sold (MLS) $79,000 SCMLS
• 2009-02-17 Listed $89,900 SCMLS
• 2003-08-26 Sold (Public Records) $77,000 Public Records
• 1990-06-01 Sold (Public Records) $65,000 Public Records

Property tax history

-7.4%/yr

Latest (2025): $321 · +24.5% YoY. Source: county tax records.