2547 Chatham Way NE · Palm Bay, FL 32905

$135,900

2 bd · 1.0 ba · 845 sqft · Manufactured public records · 26 Days on market

Built 1986 4,356 sqft lot

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Why this score? — see what drove the B- 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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

Move-in ready manufactured home now available! Own the land & home!! Recently updated, 2 bed/2 bath home in the Shire. Newer electrical, plumbing & A/C. Other updates include; wood cabinets, countertops, appliances, subflooring with wood laminate flooring & water heater. Wheelchair ramp has been added as well as widened doorways for wheelchair access. Open floor plan features an eat-in kitchen with updated lighting & newer appliances. The oversized 16X12 storage shed w/ electricity can also be used as a workshop. Inside laundry room includes washer and dryer. Furniture & tools are negotiable. Excellent location! Close to the beaches, I-95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport.

Key facts

• Updated electrical
• Newer appliances
• Updated a/c

Tags

• MOVE IN READY
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• UPDATED A/C
• COUNTERTOPS
• NEWER APPLIANCES

Property features AI

Finance

• Other: Pets allowed with no restrictions
• Financial info: No land lease

Exterior

• Parking: Driveway parking; 2 covered parking spaces total; 4 open parking spaces
• Security: Building security; Smoke detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available; Electricity available; Sewer available; Water available
• Home design: Manufactured home (double wide); One story; Resale condition, updated/remodeled; Accessible central living area with accessible doors, entrance, and ramp; Faces east
• Construction: Aluminum siding; Vinyl siding; Frame construction; Metal roof; Aluminum skirting; Mobile home remains present; Built on foundation (details from public records)
• Exterior features: Shed(s); Workshop; Chain link fenced yard; Fenced lot; City street frontage; Asphalt road surface; Publicly maintained road; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Vaulted ceilings; Walk-in closets; Split bedroom layout; Building security; Smoke detectors
• Laundry & utility: In-unit laundry; ENERGY STAR qualified washer; ENERGY STAR qualified dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $136k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $134k (1.5% below list) — sets the bar for market timing.

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: schools C-, employment 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.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 11 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 33% of the median local income ($56k/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 $940 of loan paydown is wiped out by about $4k 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 26 days — a 2% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $133,861 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.16% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.01%
• DSCR: 1.53
• GRM: 7.2

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,404
• Equity at exit: $20,263

10-year hold

• IRR: 4.6%
• Equity multiple: 1.29×
• Total profit: $11,210
• Equity at exit: $11,750

Cash invested: $38,052 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$713
• Tax from tax record: −$94 /mo · $1,127/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $381

Break-even live

Break-even rent $1,093

Max offer price $135,900

Occupancy floor 71%

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: $33,975
• Closing costs: $4,077
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2522 Amberly Rd NE Palm Bay, FL	2.0	1.0	672	$1,300	$1.93	23d	1	0.06mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$1,740	$1.59	14d	20	0.13mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	14d	47	0.27mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	23d	1	0.31mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	14d	33	0.51mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	0.58mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	23d	12	1.06mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	23d	1	1.20mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	23d	5	1.36mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,382	$1.27	14d	6	1.43mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	23d	1	1.44mi

Listing history 27 events

1. 2026-06-18
   days on market $135,900 Active 26 DOM
2. 2026-06-17
   days on market $135,900 Active 25 DOM
3. 2026-06-16
   days on market $135,900 Active 24 DOM
4. 2026-06-15
   days on market $135,900 Active 23 DOM
5. 2026-06-14
   days on market $135,900 Active 21 DOM
6. 2026-06-10
   days on market $135,900 Active 18 DOM
7. 2026-06-08
   days on market $135,900 Active 16 DOM
8. 2026-06-07
   days on market $135,900 Active 15 DOM
9. 2026-06-05
   pricedays on market $135,900 Active 12 DOM
10. 2026-06-03
    days on market $144,900 Active 11 DOM
11. 2026-06-02
    days on market $144,900 Active 10 DOM
12. 2026-06-01
    days on market $144,900 Active 9 DOM
13. 2026-05-31
    days on market $144,900 Active 8 DOM
14. 2026-05-31
    days on market $144,900 Active 7 DOM
15. 2026-05-21
    listed $144,900 Active
16. 2024-06-27
    soldstatus $130,000 Closed 760-char remark

    Show marketing remark (760 chars)

    Move-in ready manufactured home now available! Own the land & home!! Recently updated, 2 bed/2 bath home in the Shire. Newer electrical, plumbing & A/C. Other updates include; wood cabinets, countertops, appliances, subflooring with wood laminate flooring & water heater. Wheelchair ramp has been added as well as widened doorways for wheelchair access. Open floor plan features an eat-in kitchen with updated lighting & newer appliances. The oversized 16X12 storage shed w/ electricity can also be used as a workshop. Inside laundry room includes washer and dryer. Furniture & tools are negotiable. Excellent location! Close to the beaches, I-95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport.

17. 2024-06-04
    status Pending 760-char remark

    Show marketing remark (760 chars)

    Move-in ready manufactured home now available! Own the land & home!! Recently updated, 2 bed/2 bath home in the Shire. Newer electrical, plumbing & A/C. Other updates include; wood cabinets, countertops, appliances, subflooring with wood laminate flooring & water heater. Wheelchair ramp has been added as well as widened doorways for wheelchair access. Open floor plan features an eat-in kitchen with updated lighting & newer appliances. The oversized 16X12 storage shed w/ electricity can also be used as a workshop. Inside laundry room includes washer and dryer. Furniture & tools are negotiable. Excellent location! Close to the beaches, I-95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport.

18. 2024-04-15
    listed $135,000 Active 760-char remark

    Show marketing remark (760 chars)

    Move-in ready manufactured home now available! Own the land & home!! Recently updated, 2 bed/2 bath home in the Shire. Newer electrical, plumbing & A/C. Other updates include; wood cabinets, countertops, appliances, subflooring with wood laminate flooring & water heater. Wheelchair ramp has been added as well as widened doorways for wheelchair access. Open floor plan features an eat-in kitchen with updated lighting & newer appliances. The oversized 16X12 storage shed w/ electricity can also be used as a workshop. Inside laundry room includes washer and dryer. Furniture & tools are negotiable. Excellent location! Close to the beaches, I-95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport.

19. 2020-12-29
    soldstatus $83,500 Closed 808-char remark

    Show marketing remark (808 chars)

    Newly upgraded, move-in ready 2 bed/2 bath home in the Shire. New electrical, plumbing, and A/C system. The updates continue throughout with all new wood cabinets, countertops, appliances, subflooring with new wood laminate flooring, and a new hot water heater. The seller has also added handicapped features including a wheelchair ramp as well a few widened doorways. The open area eat-in kitchen has all new lighting to go with the new appliances. The storage shed has enough room to make a small workshop area. Inside laundry with washer and dryer. Minutes to the beaches, I95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport. Best of all you own the land. This home is perfect if just starting out or looking for a 2nd home to escape the harsh winters of up north. north.

20. 2020-11-07
    historical Contingent 808-char remark

    Show marketing remark (808 chars)

    Newly upgraded, move-in ready 2 bed/2 bath home in the Shire. New electrical, plumbing, and A/C system. The updates continue throughout with all new wood cabinets, countertops, appliances, subflooring with new wood laminate flooring, and a new hot water heater. The seller has also added handicapped features including a wheelchair ramp as well a few widened doorways. The open area eat-in kitchen has all new lighting to go with the new appliances. The storage shed has enough room to make a small workshop area. Inside laundry with washer and dryer. Minutes to the beaches, I95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport. Best of all you own the land. This home is perfect if just starting out or looking for a 2nd home to escape the harsh winters of up north. north.

21. 2020-08-28
    listed $84,900 Active 808-char remark

    Show marketing remark (808 chars)

    Newly upgraded, move-in ready 2 bed/2 bath home in the Shire. New electrical, plumbing, and A/C system. The updates continue throughout with all new wood cabinets, countertops, appliances, subflooring with new wood laminate flooring, and a new hot water heater. The seller has also added handicapped features including a wheelchair ramp as well a few widened doorways. The open area eat-in kitchen has all new lighting to go with the new appliances. The storage shed has enough room to make a small workshop area. Inside laundry with washer and dryer. Minutes to the beaches, I95, shopping, dining, Harris Corp. , and the Orlando Melbourne International Airport. Best of all you own the land. This home is perfect if just starting out or looking for a 2nd home to escape the harsh winters of up north. north.

22. 2020-08-19
    historical
23. 2020-05-08
    price $84,900
24. 2020-03-18
    listed $89,900 Active
25. 1999-12-10
    soldstatus $15,000
26. 1978-06-01
    soldstatus $6,000
27. 1976-11-01
    soldstatus $1,000,000

ⓘ 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: $1,127 · $94/mo
• Projected year-2 tax: $1,128 · $94/mo
• Expected delta: +$1/yr ($0/mo · 0.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $18,897
• − Mortgage interest: −$7,613
• − Property taxes: −$1,127
• − Insurance: −$680
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$3,953
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $3,970/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

-85.5% since first listed

13 events — show timeline

• 2026-05-21 Listed $144,900 Beaches MLS
• 2024-06-27 Sold (MLS) $130,000 SCMLS
• 2024-06-04 Pending — SCMLS
• 2024-04-15 Listed $135,000 SCMLS
• 2020-12-29 Sold (MLS) $83,500 SCMLS
• 2020-11-07 Contingent — SCMLS
• 2020-08-28 Listed $84,900 SCMLS
• 2020-08-19 Listing Removed — SCMLS
• 2020-05-08 Price Changed $84,900 SCMLS
• 2020-03-18 Listed $89,900 SCMLS
• 1999-12-10 Sold (Public Records) $15,000 Public Records
• 1978-06-01 Sold (Public Records) $6,000 Public Records
• 1976-11-01 Sold (Public Records) $1,000,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $1,127 · +120.5% YoY. Source: county tax records.