471 Truman St SW · Palm Bay, FL 32908

$300,888

3 bd · 2.0 ba · 1,477 sqft · Land · 131 Days on market

Built 2026 0.25 ac 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 +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

Key facts

• Quartz countertops
• Open layout
• Beautiful cabinetry

Tags

• OPEN LAYOUT
• WELL-EQUIPPED KITCHEN
• SEPARATE DINING AREA
• BEAUTIFUL CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Septic tank; Electricity available
• Home design: Single family residence; New construction
• Construction: Stucco construction
• Exterior features: South-facing; Lot listed as Other

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $301k.

Deal economics

• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (27.4% below list).
• Recommended offer: $219k (27.4% 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: Jupiter Elementary School (math 41% / reading 42%, grade F, #1,437 of 2,144 statewide, top 68%, 732 students, 68% 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 (+1.3%/yr); 1020 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 33% of the median local income ($80k/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 $9k 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 131 days — a 12% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $40k; list at $301k implies a 652% gain — meaningful room to come down on a strong offer.

Recommended offer $218,527 (27.4% 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 131 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.29% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.11×
• Total profit: $-74,904
• Equity at exit: $44,863

10-year hold

• IRR: -31.2%
• Equity multiple: -0.29×
• Total profit: $-108,700
• Equity at exit: $26,015

Cash invested: $84,249 (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 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1020
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,185 high
• Mortgage (P&I): −$1,578
• Tax est. 1.5%: −$376 /mo · $4,513/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-353

Break-even live

Break-even rent $2,632

Max offer price $249,807

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-249	+0% $-353	+5% $-457	+10% $-561
Rent	-10% $-526	-5% $-439	+0% $-353	+5% $-267	+10% $-180
Rate	-1.0pp $-201	-0.5pp $-276	base $-353	+0.5pp $-431	+1.0pp $-510

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: $75,222
• Closing costs: $9,027
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 Trumpet St SW Palm Bay, FL	3.0	2.0	1243	$2,200	$1.77	24d	1	0.28mi
487 Wiltshire Ave SW Palm Bay, FL	3.0	2.0	1462	$2,300	$1.57	24d	1	0.28mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	14d	1	0.38mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	24d	1	0.58mi
2127 Jupiter Blvd SW Palm Bay, FL	3.0	2.0	1104	$1,885	$1.71	24d	1	0.63mi
436 Wimpole Ln SW Palm Bay, FL	4.0	2.0	1806	$2,300	$1.27	24d	1	0.75mi
Town Rd SW Palm Bay, FL	3.0	2.0	1600	$1,995	$1.25	24d	1	0.77mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	14d	1	0.81mi
154 Daffodil Dr SW Palm Bay, FL	3.0–4.0	2.0–3.0	1384	$1,649	$1.19	14d	6	0.83mi
1023 Garvey Rd SW Palm Bay, FL	4.0	2.0	1750	$2,296	$1.31	14d	1	0.85mi
751 Winchell St SW Palm Bay, FL	3.0	2.0	1160	$1,960	$1.69	19d	1	0.86mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	21d	1	0.98mi
191 Turk Rd SW Palm Bay, FL	4.0	2.0	1604	$2,485	$1.55	24d	1	1.04mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	14d	1	1.04mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	14d	1	1.05mi
1037 Garvey Rd SW Palm Bay, FL	4.0	3.0	1850	$2,516	$1.36	14d	1	1.07mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	14d	1	1.12mi
403 Tillman Ave SW Palm Bay, FL	3.0	2.0	1056	$1,750	$1.66	21d	1	1.12mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	24d	1	1.12mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	24d	1	1.27mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	24d	1	1.30mi
465 Birch Ave SW Palm Bay, FL	3.0	2.0	1252	$2,000	$1.60	24d	1	1.30mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	19d	1	1.36mi
1072 Genesee Ave SE Palm Bay, FL	3.0	2.0	1004	$1,855	$1.85	24d	1	1.37mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	24d	1	1.39mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	14d	1	1.44mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	1.45mi
1215 Hastings Rd SW Palm Bay, FL	3.0	2.0	1294	$1,775	$1.37	19d	1	1.47mi

Listing history 23 events

1. 2026-06-10
   statusdays on market $300,888 Pending 131 DOM
2. 2026-06-08
   days on market $300,888 Active 130 DOM
3. 2026-06-07
   days on market $300,888 Active 129 DOM
4. 2026-06-05
   days on market $300,888 Active 126 DOM
5. 2026-06-03
   days on market $300,888 Active 125 DOM
6. 2026-06-02
   days on market $300,888 Active 124 DOM
7. 2026-06-01
   days on market $300,888 Active 123 DOM
8. 2026-05-31
   days on market $300,888 Active 122 DOM
9. 2026-05-31
   days on market $300,888 Active 121 DOM
10. 2026-05-19
    price $299,888
11. 2026-05-08
    price $309,990
12. 2026-04-04
    price $309,888
13. 2026-02-23
    price $309,990
14. 2026-02-23
    price $309,990
15. 2026-02-23
    price $309,990
16. 2026-01-30
    price $306,990
17. 2026-01-30
    price $306,990
18. 2026-01-29
    listed $306,990 Active
19. 2024-10-11
    soldstatus $40,000 Closed 598-char remark

    Show marketing remark (598 chars)

    0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

20. 2024-07-27
    status Pending 598-char remark

    Show marketing remark (598 chars)

    0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

21. 2024-06-21
    price $42,000 598-char remark

    Show marketing remark (598 chars)

    0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

22. 2024-06-19
    price $38,000 598-char remark

    Show marketing remark (598 chars)

    0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

23. 2024-03-31
    listed $46,135 Active 598-char remark

    Show marketing remark (598 chars)

    0.25 acre buildable residential lot available in Port Malabar Unit 19 of Palm Bay. Located in the southwest section, this corner lot is just 1,5 miles - 4 minutes to Jupiter Elementary School, 1.7 miles - 6 minutes to the Winn Dixie Supermarket, 11 miles - 24 minutes to Melbourne Airport, and 14.8 miles - 31 minutes to the beaches of Indialantic. From exit #176 of I-95 go west on Palm Bay Road for . 7 miles, left on Minton Road for 3.3 miles, right on Jupiter Boulevard for . 6 miles, left on Whitehall Avenue until you reach Truman Street. The lot will be on your left on the northeast corner.

ⓘ 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: $26,223
• − Mortgage interest: −$16,854
• − Property taxes: −$4,513
• − Insurance: −$1,504
• − Repairs & maintenance: −$2,098
• − Management: −$2,098
• − Depreciation: −$8,753
• Taxable loss: −$9,598
• Est. tax savings @ 24.0%: +$2,303
• After-tax cash flow: $-1,933/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 — 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): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 112.0

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 20% Black 20% Two or more races 19%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 3% Estonian 2% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -38.22%
• Current HPI: 330.0399
• Rent YoY: ▲ 1.29%
• 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

+550.0% since first listed

14 events — show timeline

• 2026-05-19 Price Changed $299,888 SCMLS
• 2026-05-08 Price Changed $309,990 SCMLS
• 2026-04-04 Price Changed $309,888 SCMLS
• 2026-02-23 Price Changed $309,990 SCMLS
• 2026-02-23 Price Changed $309,990 SCMLS
• 2026-02-23 Price Changed $309,990 SCMLS
• 2026-01-30 Price Changed $306,990 SCMLS
• 2026-01-30 Price Changed $306,990 SCMLS
• 2026-01-29 Listed $306,990 SCMLS
• 2024-10-11 Sold (MLS) $40,000 SCMLS
• 2024-07-27 Pending — SCMLS
• 2024-06-21 Price Changed $42,000 SCMLS
• 2024-06-19 Price Changed $38,000 SCMLS
• 2024-03-31 Listed $46,135 SCMLS