440 Windover Ct · Melbourne, FL 32934

$130,000

3 bd · 2.0 ba · 1,248 sqft · Other · 5 Days on market

Built 2018 Poor condition

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is located on leased land. The monthly lot rent is $913. Beautiful home that is waiting for you to make it your own. The kitchen has all updated appliances and a pot filler over the stove. The kitchen opens to the living room and main entrance. The front porch opens to a quite cul-de-sac. The bedrooms are spacious and have more than adequate closet space. The Master Bedroom has a walk-in shower and double sink. Upgraded wand in shower. This house has been waiting for you. The house is in Lamplighter Village a 55+ community. It is less than an hour from Orlando and Cape Canaveral. Walking distance from the main hub of activity in the Village. In the Village you will find a dog park

Key facts

• Updated appliances
• Cul de sac
• Double sink

Tags

• UPDATED APPLIANCES
• POT FILLER OVER STOVE
• WALK IN SHOWER
• DOUBLE SINK
• CUL DE SAC
• HEATED POOL

Property features AI

Exterior

• Home design: Built in 2018
• Construction: Living area of 1248 square feet
• Exterior features: Located in the Lamplighter Village subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $130k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 rising (+3.7%/yr); 102 active listings in the ZIP; 3 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 $899 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $130,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.47% ✓
• Cap rate: 11.89%
• Cash-on-cash: 19.99%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.52×
• Total profit: $18,977
• Equity at exit: $19,383

10-year hold

• IRR: 22.4%
• Equity multiple: 2.98×
• Total profit: $72,163
• Equity at exit: $11,240

Cash invested: $36,400 (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 32934

• Home prices YoY: -20.0%
• Rents YoY: 3.7%
• Active inventory: 102
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $606

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 63%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Saint Albans Ct Unit 18H Melbourne, FL	2.0	2.0	1182	$1,700	$1.44	23d	1	1.27mi
9045 York Ln Unit 15E Melbourne, FL	3.0	2.0	1320	$1,900	$1.44	23d	1	1.28mi
9032 Manchester Ln Unit 23C Melbourne, FL	2.0	2.0	938	$1,700	$1.81	23d	1	1.30mi

Listing history 6 events

1. 2026-06-18
   days on market $130,000 Active 5 DOM
2. 2026-06-17
   days on market $130,000 Active 4 DOM
3. 2026-06-16
   days on market $130,000 Active 3 DOM
4. 2026-06-15
   days on market $130,000 Active 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $130,000 Active 1 DOM

ⓘ 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: $22,858
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$3,782
• Taxable income: $5,537
• Est. tax owed @ 24.0%: −$1,329
• After-tax cash flow: $5,948/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This home requires extensive repairs and updates across all systems and areas, significantly impacting its value. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major kitchen appliances — No appliances visible
• Major bathroom fixtures — No fixtures visible
• Major roof — No visible condition
• Major exterior siding — No visible condition
• Major flooring — No visible condition
• Major interior walls/paint — No visible condition
• Major windows — No visible condition
• Major HVAC/mechanicals — No visible condition
• Major landscaping — No visible condition

Value-add opportunities

• Both New kitchen appliances — Upgrades the kitchen and makes it more appealing
• Both New bathroom fixtures — Enhances the bathroom and improves functionality
• Both New roof and siding — Improves the home's appearance and value
• Both New flooring — Enhances the home's appearance and value
• Both Paint interior walls — Enhances the home's appearance and value
• Both New windows — Improves the home's appearance and value
• Both New HVAC system — Improves comfort and energy efficiency
• Both Landscaping and curb appeal — Enhances the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · No appliances visible	Major	$15,000–50,000
bathroom fixtures · No fixtures visible	Major	$15,000–50,000
roof · No visible condition	Major	$15,000–50,000
exterior siding · No visible condition	Major	$15,000–50,000
flooring · No visible condition	Major	$15,000–50,000
interior walls/paint · No visible condition	Major	$15,000–50,000
windows · No visible condition	Major	$15,000–50,000
HVAC/mechanicals · No visible condition	Major	$15,000–50,000
landscaping · No visible condition	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both New kitchen appliances — Upgrades the kitchen and makes it more appealing ↑
• Both New bathroom fixtures — Enhances the bathroom and improves functionality ↑
• Both New roof and siding — Improves the home's appearance and value ↑
• Both New flooring — Enhances the home's appearance and value ↑
• Both Paint interior walls — Enhances the home's appearance and value ↑
• Both New windows — Improves the home's appearance and value ↑
• Both New HVAC system — Improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Enhances the home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 18,564
• Household income: $104,369
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 233.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Romanian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -78.68%
• Current HPI: 315.3069
• Rent YoY: ▲ 3.72%
• 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

1 event — show timeline

• 2026-06-13 Listed $130,000 FSBO.com