808 7th St · Merritt Island, FL 32953

$349,000

3 bd · 2.0 ba · 1,066 sqft · SingleFamily public records · 24 Days on market

Built 1961 7,405 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).

• Cash flow +8.4/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 4 bedroom, 3 bathroom home is located perfectly in the center of Merritt Island with great proximity to beaches, shopping, and schools. LVP flooring throughout main house and tile in Mother-in-Law suite. Freshly painted interior. Roof less than 6 years old, AC and water heater 4 years old. Lots of potential with mother-in-law suite being attached to main house as well. Could easily be rented out and has its own separate entrance with a shared screened in porch.

Key facts

• Oversized yard
• Attached en suite
• No hoa restrictions

Tags

• ATTACHED EN SUITE
• OVERSIZED YARD
• NO HOA RESTRICTIONS
• PRIVATE HOME OFFICE SETUP
• RENTAL INCOME POTENTIAL

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; One-story entry; Faces west
• Construction: Block construction
• Exterior features: Covered screened porch; Fenced backyard; Lot features: Other

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Electric cooling
• Interior features: Unfurnished; Covered, screened porch
• Laundry & utility: Utilities: electricity, water and sewer connected

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-382 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (30.7% below list).
• Recommended offer: $242k (30.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Mila Elementary School (math 37% / reading 46%, grade F, #1,437 of 2,144 statewide, top 68%, 433 students, 70% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL).
• Market conditions: Rents rising (+2.1%/yr); 219 active listings in the ZIP; 21 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 33% of the median local income ($87k/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 $10k 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 24 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $265k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,978 (30.7% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 5.21%
• Cash-on-cash: -3.88%
• DSCR: 0.83
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -25.2%
• Equity multiple: 0.15×
• Total profit: $-83,061
• Equity at exit: $52,037

10-year hold

• IRR: -24.0%
• Equity multiple: -0.15×
• Total profit: $-112,390
• Equity at exit: $30,175

Cash invested: $97,720 (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 32953

• Home prices YoY: -34.5%
• Rents YoY: 2.1%
• Active inventory: 219
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,420 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$252 /mo · $3,022/yr
• Insurance: −$145
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-382

Break-even live

Break-even rent $2,904

Max offer price $281,466

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Palmetto Ave Merritt Island, FL	2.0	2.0	1033	$1,625	$1.57	23d	2	0.35mi
145 Needle Blvd Merritt Island, FL	4.0	2.0	1314	$3,250	$2.47	23d	1	0.40mi
215 Richland Ave Unit 1044313P Merritt Island, FL	3.0	2.0	1184	$4,648	$3.93	14d	1	0.50mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,545	$1.72	14d	2	0.53mi
55 Needle Blvd Merritt Island, FL	2.0	1.5	900	$1,525	$1.69	23d	2	0.53mi
50 Needle Blvd #28 Merritt Island, FL	2.0	1.5	900	$1,550	$1.72	23d	1	0.55mi
140 McLeod St Unit 1513829P Merritt Island, FL	3.0	2.0	1323	$3,291	$2.49	19d	1	0.68mi
200 S Sykes Creek Pkwy #702 Merritt Island, FL	2.0	2.0	1307	$2,390	$1.83	23d	1	0.76mi
140 Minna Ln Merritt Island, FL	2.0	1.0	775	$1,250	$1.61	14d	1	0.79mi
388 Hibiscus Ave Merritt Island, FL	2.0	1.0	720	$1,650	$2.29	23d	1	0.90mi
480 Nancie Ave Merritt Island, FL	3.0	2.0	888	$2,100	$2.36	23d	1	1.08mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	14d	4	1.10mi
225 S Tropical Trl Merritt Island, FL	1.0–2.0	1.0–2.0	779	$2,800	$3.59	23d	4	1.10mi
489 Seacrest Ave Unit 1325661P Merritt Island, FL	3.0	2.0	1173	$4,320	$3.68	14d	1	1.16mi
735 Pilot Ln #503 Merritt Island, FL	2.0	2.0	1334	$2,700	$2.02	23d	1	1.20mi
701 Pilot Ln Unit 1499904P Merritt Island, FL	2.0	2.0	1323	$3,978	$3.01	21d	1	1.21mi
735 Pilot Ln #1009 Merritt Island, FL	2.0	2.0	1334	$2,850	$2.14	23d	1	1.23mi
225 Ligustrum Ln Merritt Island, FL	1.0–2.0	1.0	640	$1,275	$1.99	19d	1	1.23mi
1155 N Courtenay Pkwy Merritt Island, FL	2.0	1.0	750	$1,434	$1.91	23d	1	1.28mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	14d	1	1.46mi
1315 Lester Ct Merritt Island, FL	3.0	2.0	1462	$2,350	$1.61	23d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $349,000 Active 24 DOM
2. 2026-06-17
   days on market $349,000 Active 23 DOM
3. 2026-06-16
   days on market $349,000 Active 22 DOM
4. 2026-06-15
   days on market $349,000 Active 21 DOM
5. 2026-06-14
   days on market $349,000 Active 19 DOM
6. 2026-06-10
   days on market $349,000 Active 16 DOM
7. 2026-06-08
   days on market $349,000 Active 14 DOM
8. 2026-06-07
   days on market $349,000 Active 13 DOM
9. 2026-06-05
   days on market $349,000 Active 10 DOM
10. 2026-06-03
    days on market $349,000 Active 9 DOM
11. 2026-06-02
    days on market $349,000 Active 8 DOM
12. 2026-06-01
    days on market $349,000 Active 7 DOM
13. 2026-05-31
    days on market $349,000 Active 6 DOM
14. 2026-05-31
    days on market $349,000 Active 5 DOM
15. 2026-05-25
    listed $349,000 Active
16. 2022-11-02
    soldstatus $265,000 Closed 479-char remark

    Show marketing remark (479 chars)

    This charming 4 bedroom, 3 bathroom home is located perfectly in the center of Merritt Island with great proximity to beaches, shopping, and schools. LVP flooring throughout main house and tile in Mother-in-Law suite. Freshly painted interior. Roof less than 6 years old, AC and water heater 4 years old. Lots of potential with mother-in-law suite being attached to main house as well. Could easily be rented out and has its own separate entrance with a shared screened in porch.

17. 2022-09-24
    historical Backups 479-char remark

    Show marketing remark (479 chars)

    This charming 4 bedroom, 3 bathroom home is located perfectly in the center of Merritt Island with great proximity to beaches, shopping, and schools. LVP flooring throughout main house and tile in Mother-in-Law suite. Freshly painted interior. Roof less than 6 years old, AC and water heater 4 years old. Lots of potential with mother-in-law suite being attached to main house as well. Could easily be rented out and has its own separate entrance with a shared screened in porch.

18. 2022-09-16
    listed $265,000 Active
19. 2022-09-15
    listed $265,000 Active 479-char remark

    Show marketing remark (479 chars)

    This charming 4 bedroom, 3 bathroom home is located perfectly in the center of Merritt Island with great proximity to beaches, shopping, and schools. LVP flooring throughout main house and tile in Mother-in-Law suite. Freshly painted interior. Roof less than 6 years old, AC and water heater 4 years old. Lots of potential with mother-in-law suite being attached to main house as well. Could easily be rented out and has its own separate entrance with a shared screened in porch.

20. 2021-11-10
    historical
21. 2021-11-05
    listed $245,000 Active
22. 2021-02-05
    soldstatus $225,000 Closed
23. 2021-02-05
    soldstatus $225,000
24. 2020-12-23
    historical Backups
25. 2020-12-22
    listed $212,000 Active
26. 2017-12-27
    soldstatus $90,000
27. 1980-02-01
    soldstatus $42,000
28. 1973-12-01
    soldstatus $19,000

ⓘ 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: $3,022 · $252/mo
• Projected year-2 tax: $3,022 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $29,037
• − Mortgage interest: −$19,549
• − Property taxes: −$3,022
• − Insurance: −$2,542
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − Depreciation: −$10,153
• Taxable loss: −$10,875
• Est. tax savings @ 24.0%: +$2,610
• After-tax cash flow: $-1,977/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment A- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,759
• Household income: $87,262
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 849.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 2% 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: ▼ -168.76%
• Current HPI: 320.1966
• Rent YoY: ▲ 2.12%
• 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

+1736.8% since first listed

14 events — show timeline

• 2026-05-25 Listed $349,000 SCMLS
• 2022-11-02 Sold (MLS) $265,000 SCMLS
• 2022-09-24 Contingent — SCMLS
• 2022-09-16 Listed $265,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-15 Listed $265,000 SCMLS
• 2021-11-10 Listing Removed — SCMLS
• 2021-11-05 Listed $245,000 SCMLS
• 2021-02-05 Sold (Public Records) $225,000 Public Records
• 2021-02-05 Sold (MLS) $225,000 SCMLS
• 2020-12-23 Contingent — SCMLS
• 2020-12-22 Listed $212,000 SCMLS
• 2017-12-27 Sold (Public Records) $90,000 Public Records
• 1980-02-01 Sold (Public Records) $42,000 Public Records
• 1973-12-01 Sold (Public Records) $19,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $3,022 · -0.0% YoY. Source: county tax records.