2718 Lakeland Ave SW · Palm Bay, FL 32908

$359,900

4 bd · 3.0 ba · 1,990 sqft · Land · 224 Days on market

Built 2025 10,454 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).

• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location, location. Tired of the noise and congestion of city life? Ready to build your dream home? Port Malabar, a quiet area of Palm Bay, FL awaits you! Vacant Residential Land (Single Family, Platted) available to build. Easement on side and back of lot, therefore you’ll have only have one house next to you. Existing homes already built. Paved roadways. No HOA. Close proximity to I-95 only 15 mins. Get to Orlando-Melbourne International Airport and the beach in 15 minutes, 1 hour drive to Orlando. Minutes to shopping centers. Sewer is septic. Well water.

Key facts

• Quartz countertops
• Large center island
• Modern kitchen

Tags

• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• BRAND-NEW SAMSUNG APPLIANCES
• QUARTZ COUNTERTOPS
• LARGE CENTER ISLAND
• HIGH CEILINGS

Property features AI

Finance

• Other: Living area approximately 1,990 (listing provided); Building area approximately 2,500 (listing provided); Pets allowed; Lot size about 0.24 acres

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Septic tank; Electricity connected
• Home design: Single family residence; Faces east; New construction
• Construction: Block, concrete and stucco construction
• Exterior features: Covered patio

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Electric cooktop; Electric oven; Electric range; Ice maker; Microwave; Refrigerator; ENERGY STAR qualified dishwasher; ENERGY STAR qualified refrigerator; Water softener (owned)
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Eat-in kitchen; Entrance foyer; Guest suite; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater; ENERGY STAR qualified water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $360k.

Deal economics

• At list price, monthly cash flow is $-525 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (31.0% below list).
• Recommended offer: $248k (31.0% 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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 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; 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).
• This rent runs 37% 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 $11k 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 224 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $360k implies a 2299% 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 $248,432 (31.0% 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 224 days. Have you received any prior offers? Is the seller open to a 31% 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: 0.69% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.25%
• DSCR: 0.72
• GRM: 12.1

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: -29.0%
• Equity multiple: 0.05×
• Total profit: $-95,895
• Equity at exit: $53,662

10-year hold

• IRR: -37.5%
• Equity multiple: -0.42×
• Total profit: $-143,037
• Equity at exit: $31,118

Cash invested: $100,772 (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: 12.1×

Monthly cashflow live

• Estimated rent: $2,484 high
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-525

Break-even live

Break-even rent $3,148

Max offer price $283,993

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	14d	1	0.25mi
2437 Hagoplan Ave SW Palm Bay, FL	3.0	2.0	1840	$2,150	$1.17	23d	1	0.53mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	23d	1	0.62mi
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	23d	1	0.71mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	23d	1	1.00mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	1.05mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	23d	1	1.09mi
583 Halifax St SW Palm Bay, FL	4.0	2.0	1833	$2,075	$1.13	13d	1	1.10mi
328 Hammonton St SW Palm Bay, FL	3.0	2.0	1942	$2,500	$1.29	23d	1	1.24mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	1.26mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	23d	1	1.28mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	14d	1	1.30mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	14d	1	1.31mi
2008 Olympia Ave SW Palm Bay, FL	4.0	2.0	1828	$2,500	$1.37	23d	1	1.35mi
439 Gancedo St SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	23d	1	1.38mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	13d	1	1.39mi
555 Gagnon St SE Palm Bay, FL	4.0	3.0	2373	$2,400	$1.01	23d	1	1.42mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	21d	1	1.43mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	1.49mi

Listing history 24 events

1. 2026-06-02
   status $359,900 Pending 224 DOM
2. 2026-06-01
   days on market $359,900 Active 224 DOM
3. 2026-05-31
   days on market $359,900 Active 223 DOM
4. 2026-05-31
   days on market $359,900 Active 222 DOM
5. 2026-05-13
   price $359,900
6. 2026-05-03
   price $369,900
7. 2026-04-17
   price $371,900
8. 2026-02-17
   status Active
9. 2026-02-13
   historical
10. 2025-11-23
    price $374,900
11. 2025-10-16
    listed $399,900 Active
12. 2021-04-20
    soldstatus $15,000 582-char remark

    Show marketing remark (582 chars)

    Location, location, location. Tired of the noise and congestion of city life? Ready to build your dream home? Port Malabar, a quiet area of Palm Bay, FL awaits you! Vacant Residential Land (Single Family, Platted) available to build. Easement on side and back of lot, therefore you’ll have only have one house next to you. Existing homes already built. Paved roadways. No HOA. Close proximity to I-95 only 15 mins. Get to Orlando-Melbourne International Airport and the beach in 15 minutes, 1 hour drive to Orlando. Minutes to shopping centers. Sewer is septic. Well water.

13. 2021-03-16
    listed $17,500 582-char remark

    Show marketing remark (582 chars)

    Location, location, location. Tired of the noise and congestion of city life? Ready to build your dream home? Port Malabar, a quiet area of Palm Bay, FL awaits you! Vacant Residential Land (Single Family, Platted) available to build. Easement on side and back of lot, therefore you’ll have only have one house next to you. Existing homes already built. Paved roadways. No HOA. Close proximity to I-95 only 15 mins. Get to Orlando-Melbourne International Airport and the beach in 15 minutes, 1 hour drive to Orlando. Minutes to shopping centers. Sewer is septic. Well water.

14. 2021-01-15
    historical 264-char remark

    Show marketing remark (264 chars)

    Beautiful Building lot in residential area of Port Malabar. Utilities are Well and Septic at this location. Property has good elevation. Great area with beautiful houses. Near Westside Elementary School and Bayside Discovery Child Care Center. Not in a flood zone.

15. 2021-01-06
    listed $13,500 Active 264-char remark

    Show marketing remark (264 chars)

    Beautiful Building lot in residential area of Port Malabar. Utilities are Well and Septic at this location. Property has good elevation. Great area with beautiful houses. Near Westside Elementary School and Bayside Discovery Child Care Center. Not in a flood zone.

16. 2020-09-28
    soldstatus $10,500
17. 2020-09-25
    soldstatus $10,500 Closed
18. 2020-09-09
    status Pending
19. 2020-09-04
    listed $11,000 Active
20. 2018-05-14
    historical
21. 2017-08-18
    soldstatus $12,000
22. 2017-03-16
    listed $13,900
23. 2016-08-30
    listed $9,400
24. 1975-06-01
    soldstatus $5,100

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 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: $29,812
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,385
• − Management: −$2,385
• − Depreciation: −$10,470
• Taxable loss: −$12,786
• Est. tax savings @ 24.0%: +$3,069
• After-tax cash flow: $-3,226/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

+6956.9% since first listed

20 events — show timeline

• 2026-05-13 Price Changed $359,900 SCMLS
• 2026-05-03 Price Changed $369,900 SCMLS
• 2026-04-17 Price Changed $371,900 SCMLS
• 2026-02-17 Relisted — SCMLS
• 2026-02-13 Listing Removed — SCMLS
• 2025-11-23 Price Changed $374,900 SCMLS
• 2025-10-16 Listed $399,900 SCMLS
• 2021-04-20 Sold (MLS) $15,000 Beaches MLS
• 2021-03-16 Listed $17,500 Beaches MLS
• 2021-01-15 Listing Removed — SCMLS
• 2021-01-06 Listed $13,500 SCMLS
• 2020-09-28 Sold (Public Records) $10,500 Public Records
• 2020-09-25 Sold (MLS) $10,500 SCMLS
• 2020-09-09 Pending — SCMLS
• 2020-09-04 Listed $11,000 SCMLS
• 2018-05-14 Listing Removed — SCMLS
• 2017-08-18 Sold (MLS) $12,000 SCMLS
• 2017-03-16 Listed $13,900 SCMLS
• 2016-08-30 Listed $9,400 SCMLS
• 1975-06-01 Sold (Public Records) $5,100 Public Records

Property tax history

+17.6%/yr

Latest (2025): $483 · +18.4% YoY. Source: county tax records.