2539 Chatham Way NE · Palm Bay, FL 32905

$160,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 111 Days on market

Built 1980 4,356 sqft lot

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Why this score? — see what drove the C 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• 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

Forget the monthly dues and restrictive rules--here, you truly own your slice of the Florida dream. This sprawling 2-bedroom, 2-bath home sits on its own land with zero HOA fees, giving you total freedom just minutes from the Indian River and Melbourne's sandy beaches. Inside, the fresh vinyl plank flooring create an airy, open vibe (and yes, it's completely carpet-free!). The kitchen is a bright standout with crisp white cabinetry and a built-in buffet that makes hosting weekend brunches a breeze. Need space for hobbies? You've got two oversized utility rooms, a fully fenced yard, and a massive enclosed Florida room perfect for afternoon lounging. Whether you're headed to downtown Melbourne or commuting to Harris, everything is right at your fingertips.

Key facts

• Built-in buffet
• Fully fenced yard
• 4,356 sq ft lot

Tags

• FRESH VINYL PLANK FLOORING
• BUILT-IN BUFFET
• TWO OVERSIZED UTILITY ROOMS
• FULLY FENCED YARD
• MASSIVE ENCLOSED FLORIDA ROOM

Property features AI

Finance

• Other: Lot approximately 0.1 acre (50 x 88), asphalt road access; Living area reported as 960 square feet; Unfurnished; Homestead property
• HOA & community: No association

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (double wide); One story; Faces south
• Construction: Metal frame construction; Metal roof; Other foundation
• Exterior features: Lighting; Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Laundry room with corridor access; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $159k (0.3% below list).
• Recommended offer: $146k (9.0% 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 34% 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 $1k of loan paydown is wiped out by about $5k 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 111 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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.

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 $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 8.4

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: -9.3%
• Equity multiple: 0.67×
• Total profit: $-14,748
• Equity at exit: $23,857

10-year hold

• IRR: -4.1%
• Equity multiple: 0.76×
• Total profit: $-10,586
• Equity at exit: $13,834

Cash invested: $44,800 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$839
• Tax from tax record: −$105 /mo · $1,254/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $249

Break-even live

Break-even rent $1,279

Max offer price $160,000

Occupancy floor 79%

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: $40,000
• Closing costs: $4,800
• 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	13d	20	0.13mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$1,902	$1.72	13d	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	13d	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 39 events

1. 2026-06-18
   days on market $160,000 Active 111 DOM
2. 2026-06-17
   days on market $160,000 Active 110 DOM
3. 2026-06-16
   days on market $160,000 Active 109 DOM
4. 2026-06-15
   days on market $160,000 Active 108 DOM
5. 2026-06-14
   days on market $160,000 Active 106 DOM
6. 2026-06-10
   days on market $160,000 Active 103 DOM
7. 2026-06-08
   days on market $160,000 Active 101 DOM
8. 2026-06-07
   days on market $160,000 Active 100 DOM
9. 2026-06-05
   days on market $160,000 Active 97 DOM
10. 2026-06-03
    days on market $160,000 Active 96 DOM
11. 2026-06-02
    days on market $160,000 Active 95 DOM
12. 2026-06-01
    days on market $160,000 Active 94 DOM
13. 2026-05-31
    days on market $160,000 Active 93 DOM
14. 2026-05-31
    days on market $160,000 Active 92 DOM
15. 2026-02-27
    listed $160,000 Active 764-char remark

    Show marketing remark (764 chars)

    Forget the monthly dues and restrictive rules--here, you truly own your slice of the Florida dream. This sprawling 2-bedroom, 2-bath home sits on its own land with zero HOA fees, giving you total freedom just minutes from the Indian River and Melbourne's sandy beaches. Inside, the fresh vinyl plank flooring create an airy, open vibe (and yes, it's completely carpet-free!). The kitchen is a bright standout with crisp white cabinetry and a built-in buffet that makes hosting weekend brunches a breeze. Need space for hobbies? You've got two oversized utility rooms, a fully fenced yard, and a massive enclosed Florida room perfect for afternoon lounging. Whether you're headed to downtown Melbourne or commuting to Harris, everything is right at your fingertips.

16. 2026-02-27
    listed $160,000 Active

    Show marketing remark (764 chars)

    Forget the monthly dues and restrictive rules--here, you truly own your slice of the Florida dream. This sprawling 2-bedroom, 2-bath home sits on its own land with zero HOA fees, giving you total freedom just minutes from the Indian River and Melbourne's sandy beaches. Inside, the fresh vinyl plank flooring create an airy, open vibe (and yes, it's completely carpet-free!). The kitchen is a bright standout with crisp white cabinetry and a built-in buffet that makes hosting weekend brunches a breeze. Need space for hobbies? You've got two oversized utility rooms, a fully fenced yard, and a massive enclosed Florida room perfect for afternoon lounging. Whether you're headed to downtown Melbourne or commuting to Harris, everything is right at your fingertips.

17. 2024-07-18
    soldstatus $142,100
18. 2024-07-09
    soldstatus $142,100 Closed 529-char remark

    Show marketing remark (529 chars)

    Move in ready 2 Bedroom, 2 Bath Double Wide with NO HOA fees. Own the land and home. Eat-in Kitchen with nice white cabinets, plenty of counter space, plus a large dining area with built in buffet. Vault ceilings, large family room, vinyl plank flooring, and no carpet! Master bedroom has his/her closets with plenty of storage space. Large enclosed Florida room, fenced yard, 2 large utility rooms with washer/dryer included. City Water/Sewer. Great location close to beaches, Indian River, downtown Melbourne, Harris, and more.

19. 2024-06-27
    historical Active Under Contract 529-char remark

    Show marketing remark (529 chars)

    Move in ready 2 Bedroom, 2 Bath Double Wide with NO HOA fees. Own the land and home. Eat-in Kitchen with nice white cabinets, plenty of counter space, plus a large dining area with built in buffet. Vault ceilings, large family room, vinyl plank flooring, and no carpet! Master bedroom has his/her closets with plenty of storage space. Large enclosed Florida room, fenced yard, 2 large utility rooms with washer/dryer included. City Water/Sewer. Great location close to beaches, Indian River, downtown Melbourne, Harris, and more.

20. 2024-06-21
    historical

    Show marketing remark (529 chars)

    Move in ready 2 Bedroom, 2 Bath Double Wide with NO HOA fees. Own the land and home. Eat-in Kitchen with nice white cabinets, plenty of counter space, plus a large dining area with built in buffet. Vault ceilings, large family room, vinyl plank flooring, and no carpet! Master bedroom has his/her closets with plenty of storage space. Large enclosed Florida room, fenced yard, 2 large utility rooms with washer/dryer included. City Water/Sewer. Great location close to beaches, Indian River, downtown Melbourne, Harris, and more.

21. 2024-06-21
    listed $149,900 Active 529-char remark

    Show marketing remark (529 chars)

    Move in ready 2 Bedroom, 2 Bath Double Wide with NO HOA fees. Own the land and home. Eat-in Kitchen with nice white cabinets, plenty of counter space, plus a large dining area with built in buffet. Vault ceilings, large family room, vinyl plank flooring, and no carpet! Master bedroom has his/her closets with plenty of storage space. Large enclosed Florida room, fenced yard, 2 large utility rooms with washer/dryer included. City Water/Sewer. Great location close to beaches, Indian River, downtown Melbourne, Harris, and more.

22. 2024-06-20
    status Active
23. 2024-06-19
    historical
24. 2024-05-11
    price $154,900
25. 2024-04-30
    price $164,900
26. 2024-03-19
    listed $169,900 Active
27. 2024-01-02
    historical
28. 2023-11-28
    price $161,500
29. 2023-10-14
    price $170,000
30. 2023-09-29
    listed $172,750 Active
31. 2022-10-20
    soldstatus $154,000 Closed
32. 2022-09-23
    historical Backups
33. 2022-09-01
    price $159,900
34. 2022-08-24
    price $164,900
35. 2022-08-16
    price $169,000
36. 2022-07-21
    listed $177,000 Active
37. 2013-04-04
    soldstatus $27,500
38. 1995-01-31
    soldstatus $32,000
39. 1978-04-01
    soldstatus $5,800

ⓘ 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: $1,254 · $105/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$74/yr (+$6/mo · 5.9%)

ⓘ 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: $19,134
• − Mortgage interest: −$8,962
• − Property taxes: −$1,254
• − Insurance: −$800
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$4,655
• Taxable income: $402
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $2,897/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

+2658.6% since first listed

25 events — show timeline

• 2026-02-27 Listed $160,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $160,000 SCMLS
• 2024-07-18 Sold (Public Records) $142,100 Public Records
• 2024-07-09 Sold (MLS) $142,100 SCMLS
• 2024-06-27 Contingent — SCMLS
• 2024-06-21 Listed $149,900 SCMLS
• 2024-06-21 Listing Removed — SCMLS
• 2024-06-20 Relisted — SCMLS
• 2024-06-19 Listing Removed — SCMLS
• 2024-05-11 Price Changed $154,900 SCMLS
• 2024-04-30 Price Changed $164,900 SCMLS
• 2024-03-19 Listed $169,900 SCMLS
• 2024-01-02 Listing Removed — SCMLS
• 2023-11-28 Price Changed $161,500 SCMLS
• 2023-10-14 Price Changed $170,000 SCMLS
• 2023-09-29 Listed $172,750 SCMLS
• 2022-10-20 Sold (MLS) $154,000 SCMLS
• 2022-09-23 Contingent — SCMLS
• 2022-09-01 Price Changed $159,900 SCMLS
• 2022-08-24 Price Changed $164,900 SCMLS
• 2022-08-16 Price Changed $169,000 SCMLS
• 2022-07-21 Listed $177,000 SCMLS
• 2013-04-04 Sold (Public Records) $27,500 Public Records
• 1995-01-31 Sold (Public Records) $32,000 Public Records
• 1978-04-01 Sold (Public Records) $5,800 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,254 · -19.8% YoY. Source: county tax records.