7667 N Wickham Rd #920 · Viera East, FL 32940

$135,000

2 bd · 2.0 ba · 1,078 sqft · Condo public records · 68 Days on market

Built 1990 $537/mo HOA · 28% of rent

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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 +15.8/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• DSCR +4.9/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Location doesn't get better than this on the East Coast. This Beautifully Upgraded condo is located in the sought out neighborhood of Cypress Cove located in the heart of Suntree. This bright and open condo has a split floor plan with 2 master suites and is located on the 3rd floor featuring vaulted ceilings, wood cabinets, granite counter tops, ceramic tiles throughout except for both bedrooms and so much more. The community offers a Resort Style Pool, fitness center, Playground, car care center, tennis courts and lush tropical landscaping throughout! Centrally located and near all major highways, shopping, restaurants, VA clinic, hospitals, and only a few minutes to the Avenues in Viera and the Beach!

Key facts

• Split-bedroom layout
• $537 HOA
• Community pool

Tags

• SPLIT-BEDROOM LAYOUT
• CYPRESS COVE AT SUNTREE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $63 ($756/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#141 in FL, #1,964 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute D+, schools F, 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 rising (+2.0%/yr); 583 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($933 loan paydown + $544 appreciation (0.4% local appreciation)).
• 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 68 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 6.85%
• Cash-on-cash: 2.00%
• DSCR: 1.09
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $988
• Equity at exit: $41,943

10-year hold

• IRR: 4.8%
• Equity multiple: 1.53×
• Total profit: $20,071
• Equity at exit: $52,663

Cash invested: $37,800 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 583
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$708
• Tax from tax record: −$174 /mo · $2,084/yr
• Insurance: −$56
• HOA: −$537
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $63

Break-even live

Break-even rent $1,867

Max offer price $135,000

Occupancy floor 92%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7667 N Wickham Rd Melbourne, FL	1.0–2.0	1.0–2.0	915	$1,750	$1.91	14d	2	0.06mi
201 Plantation Club Dr Melbourne, FL	1.0–2.0	1.0–2.0	1025	$1,870	$1.82	13d	10	0.15mi
300 Tuscany Way Melbourne, FL	1.0–3.0	1.0–2.0	1097	$1,984	$1.81	23d	12	0.36mi
1311 Hampton Park Ln Melbourne, FL	2.0	3.0	1110	$1,850	$1.67	23d	1	0.50mi
1306 Hampton Park Ln Melbourne, FL	2.0	3.0	1110	$1,700	$1.53	14d	1	0.51mi
1390 Hampton Park Ln Melbourne, FL	2.0	2.5	1110	$1,900	$1.71	23d	1	0.57mi
531 Steeplechase Ln Melbourne, FL	2.0	1.5	1110	$1,875	$1.69	23d	1	0.58mi
640 Casa Grande Dr Melbourne, FL	3.0	2.0	1160	$2,200	$1.90	23d	1	0.99mi

HOA detail condo

• Monthly dues: $537 · $6,444/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-04-06
   status Pending
2. 2026-03-19
   price $135,000
3. 2026-02-13
   price $150,000
4. 2026-01-28
   listed $165,000 Active
5. 2024-12-10
   soldstatus $196,900
6. 2024-12-06
   soldstatus $196,900 Closed 713-char remark

   Show marketing remark (713 chars)

   Location doesn't get better than this on the East Coast. This Beautifully Upgraded condo is located in the sought out neighborhood of Cypress Cove located in the heart of Suntree. This bright and open condo has a split floor plan with 2 master suites and is located on the 3rd floor featuring vaulted ceilings, wood cabinets, granite counter tops, ceramic tiles throughout except for both bedrooms and so much more. The community offers a Resort Style Pool, fitness center, Playground, car care center, tennis courts and lush tropical landscaping throughout! Centrally located and near all major highways, shopping, restaurants, VA clinic, hospitals, and only a few minutes to the Avenues in Viera and the Beach!

7. 2024-11-04
   status Pending 713-char remark

   Show marketing remark (713 chars)

   Location doesn't get better than this on the East Coast. This Beautifully Upgraded condo is located in the sought out neighborhood of Cypress Cove located in the heart of Suntree. This bright and open condo has a split floor plan with 2 master suites and is located on the 3rd floor featuring vaulted ceilings, wood cabinets, granite counter tops, ceramic tiles throughout except for both bedrooms and so much more. The community offers a Resort Style Pool, fitness center, Playground, car care center, tennis courts and lush tropical landscaping throughout! Centrally located and near all major highways, shopping, restaurants, VA clinic, hospitals, and only a few minutes to the Avenues in Viera and the Beach!

8. 2024-10-30
   listed $199,000 Active
9. 2024-10-23
   listed $199,000 Active 713-char remark

   Show marketing remark (713 chars)

   Location doesn't get better than this on the East Coast. This Beautifully Upgraded condo is located in the sought out neighborhood of Cypress Cove located in the heart of Suntree. This bright and open condo has a split floor plan with 2 master suites and is located on the 3rd floor featuring vaulted ceilings, wood cabinets, granite counter tops, ceramic tiles throughout except for both bedrooms and so much more. The community offers a Resort Style Pool, fitness center, Playground, car care center, tennis courts and lush tropical landscaping throughout! Centrally located and near all major highways, shopping, restaurants, VA clinic, hospitals, and only a few minutes to the Avenues in Viera and the Beach!

10. 2024-09-12
    historical
11. 2024-09-12
    historical
12. 2024-08-03
    price $215,000
13. 2024-06-19
    listed $230,900 Active
14. 2024-06-12
    listed $230,900 Active
15. 2022-03-31
    soldstatus $185,000 Closed
16. 2022-03-01
    status Pending
17. 2022-02-24
    listed $178,000 Active
18. 2014-06-10
    soldstatus $108,900
19. 2008-03-27
    soldstatus $11,000,000

ⓘ 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: $2,084 · $174/mo
• Projected year-2 tax: $2,084 · $174/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $23,360
• − Mortgage interest: −$7,562
• − Property taxes: −$2,084
• − Insurance: −$675
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − HOA: −$6,444
• − Depreciation: −$3,927
• Taxable loss: −$1,070
• Est. tax savings @ 24.0%: +$257
• After-tax cash flow: $1,013/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 — Viera East

• Score: 79/100
• State rank: #141
• US rank: #1964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-98.8% since first listed

19 events — show timeline

• 2026-04-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-10 Sold (Public Records) $196,900 Public Records
• 2024-12-06 Sold (MLS) $196,900 SCMLS
• 2024-11-04 Pending — SCMLS
• 2024-10-30 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-23 Listed $199,000 SCMLS
• 2024-09-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-09-12 Listing Removed — SCMLS
• 2024-08-03 Price Changed $215,000 SCMLS
• 2024-06-19 Listed $230,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-12 Listed $230,900 SCMLS
• 2022-03-31 Sold (MLS) $185,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-02-24 Listed $178,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Sold (Public Records) $108,900 Public Records
• 2008-03-27 Sold (Public Records) $11,000,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,084 · -16.0% YoY. Source: county tax records.