2798 Gainesville Rd SE · Palm Bay, FL 32909

$345,000

4 bd · 2.0 ba · 1,856 sqft · Land · 203 Days on market

Built 2025 0.25 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.8/10.0

Listing remarks MLS

One or more photo(s) has been virtually staged. Corner-lot gem with vaulted ceilings, an open-concept kitchen. This Palm Bay home is packed with upgrades and ready to impress! Designed with style and confort upgrades throughout. From the moment you walk in, the soaring vaulted ceilings and open floor plan create an impressive sense of space. The upgraded kitchen features modern finishes, generous counter space, and a layout that flows perfectly into the living and dining areas, making it great for entertaining. The spacious primary suite has a large walk-in closet and an oversized bathroom with upgraded fixtures, giving you a true retreat feel. Every room is filled with natural light, and the upgraded details carry throughout the home, from flooring to finishes. The corner lot provides extra privacy, additional yard space, and excellent curb appeal.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 2025

Property features AI

Finance

• Other: Home warranty included; Zoning: RS2; Lot size approximately 0.25 acres (87 x 125); Builder-provided living area and building area; Permit number BL23-09379
• HOA & community: Port Malabar community; Cats and dogs allowed

Exterior

• Parking: Attached 2-car garage (20 x 19); Driveway; Garage door opener; On-street parking
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; High-speed internet available; Cable available; Electricity connected; Phone available; Water connected
• Home design: Single family residence; One story; West-facing; Completed new construction; Magnolia model by Duomo Builders
• Construction: Block construction; Shingle roof; Slab foundation; Projected completion: 2025-11-18; Builder licensed (CGC1519177)
• Exterior features: Covered patio; Patio; Rear porch; Exterior lighting; Private mailbox; Sliding doors; Corner lot; Cleared and landscaped yard; Oversized, paved lot; Public maintained paved road

Interior

• Kitchen: Convection oven; Cooktop; Dishwasher; Disposal; Exhaust fan; Freezer; Ice maker; Microwave; Refrigerator; Water softener; Electric water heater
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Eat-in kitchen; High ceilings; Kitchen/family room combo; Living room/dining room combo; Open floorplan; Solid surface counters; Split bedroom layout; Thermostat; Vaulted ceilings; Walk-in closets; Storm windows
• Laundry & utility: Laundry room inside the home

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $345k.

Deal economics

• At list price, monthly cash flow is $-576 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (33.6% below list).
• Recommended offer: $229k (33.6% 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: 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 rising (+3.7%/yr); 1111 active listings in the ZIP; 25 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 34% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $18k; list at $345k implies a 1765% 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 $228,941 (33.6% 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 203 days. Have you received any prior offers? Is the seller open to a 34% 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: 0.66% ✗
• Cap rate: 4.29%
• Cash-on-cash: -7.15%
• DSCR: 0.68
• GRM: 12.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.58×
• Total profit: $152,825
• Equity at exit: $310,803

10-year hold

• IRR: 18.0%
• Equity multiple: 5.99×
• Total profit: $482,182
• Equity at exit: $670,259

Cash invested: $96,600 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,289 high
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-576

Break-even live

Break-even rent $3,018

Max offer price $261,712

Occupancy floor —

Sensitivity live

Price	-10% $-337	-5% $-456	+0% $-576	+5% $-695	+10% $-814
Rent	-10% $-756	-5% $-666	+0% $-576	+5% $-485	+10% $-395
Rate	-1.0pp $-402	-0.5pp $-488	base $-576	+0.5pp $-665	+1.0pp $-756

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	21d	1	0.12mi
555 Gagnon St SE Palm Bay, FL	4.0	3.0	2373	$2,400	$1.01	24d	1	0.20mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	14d	1	0.21mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	24d	1	0.24mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.26mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	21d	1	0.50mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	0.51mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	14d	1	0.52mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	24d	1	0.65mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	24d	1	0.71mi
830 Painesville St SE Palm Bay, FL	3.0	2.0	2029	$2,220	$1.09	14d	1	0.78mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	13d	1	0.86mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	13d	1	0.89mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	14d	1	0.90mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.93mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	0.94mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	24d	1	1.09mi
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	14d	1	1.10mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	24d	1	1.20mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	21d	1	1.24mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	24d	1	1.26mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	24d	1	1.37mi
1165 Rabbit St SE Palm Bay, FL	3.0	2.0	1994	$1,895	$0.95	19d	1	1.43mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	24d	1	1.48mi
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	24d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $345,000 Active 203 DOM
2. 2026-06-17
   days on market $345,000 Active 202 DOM
3. 2026-06-16
   days on market $345,000 Active 201 DOM
4. 2026-06-15
   days on market $345,000 Active 200 DOM
5. 2026-06-14
   days on market $345,000 Active 198 DOM
6. 2026-06-10
   days on market $345,000 Active 195 DOM
7. 2026-06-08
   days on market $345,000 Active 193 DOM
8. 2026-06-07
   days on market $345,000 Active 192 DOM
9. 2026-06-05
   days on market $345,000 Active 189 DOM
10. 2026-06-03
    days on market $345,000 Active 188 DOM
11. 2026-06-02
    days on market $345,000 Active 187 DOM
12. 2026-06-01
    days on market $345,000 Active 186 DOM
13. 2026-05-31
    days on market $345,000 Active 185 DOM
14. 2026-05-31
    days on market $345,000 Active 184 DOM
15. 2026-04-12
    status Active 864-char remark

    Show marketing remark (864 chars)

    One or more photo(s) has been virtually staged. Corner-lot gem with vaulted ceilings, an open-concept kitchen. This Palm Bay home is packed with upgrades and ready to impress! Designed with style and confort upgrades throughout. From the moment you walk in, the soaring vaulted ceilings and open floor plan create an impressive sense of space. The upgraded kitchen features modern finishes, generous counter space, and a layout that flows perfectly into the living and dining areas, making it great for entertaining. The spacious primary suite has a large walk-in closet and an oversized bathroom with upgraded fixtures, giving you a true retreat feel. Every room is filled with natural light, and the upgraded details carry throughout the home, from flooring to finishes. The corner lot provides extra privacy, additional yard space, and excellent curb appeal.

16. 2026-04-11
    status Active
17. 2026-04-03
    status Pending 864-char remark

    Show marketing remark (864 chars)

    One or more photo(s) has been virtually staged. Corner-lot gem with vaulted ceilings, an open-concept kitchen. This Palm Bay home is packed with upgrades and ready to impress! Designed with style and confort upgrades throughout. From the moment you walk in, the soaring vaulted ceilings and open floor plan create an impressive sense of space. The upgraded kitchen features modern finishes, generous counter space, and a layout that flows perfectly into the living and dining areas, making it great for entertaining. The spacious primary suite has a large walk-in closet and an oversized bathroom with upgraded fixtures, giving you a true retreat feel. Every room is filled with natural light, and the upgraded details carry throughout the home, from flooring to finishes. The corner lot provides extra privacy, additional yard space, and excellent curb appeal.

18. 2026-04-02
    status Pending
19. 2026-03-23
    listed $350,000 Active 864-char remark

    Show marketing remark (864 chars)

    One or more photo(s) has been virtually staged. Corner-lot gem with vaulted ceilings, an open-concept kitchen. This Palm Bay home is packed with upgrades and ready to impress! Designed with style and confort upgrades throughout. From the moment you walk in, the soaring vaulted ceilings and open floor plan create an impressive sense of space. The upgraded kitchen features modern finishes, generous counter space, and a layout that flows perfectly into the living and dining areas, making it great for entertaining. The spacious primary suite has a large walk-in closet and an oversized bathroom with upgraded fixtures, giving you a true retreat feel. Every room is filled with natural light, and the upgraded details carry throughout the home, from flooring to finishes. The corner lot provides extra privacy, additional yard space, and excellent curb appeal.

20. 2026-03-12
    price $350,000
21. 2026-02-12
    price $360,000
22. 2026-01-09
    price $370,000
23. 2025-11-18
    listed $375,000 Active
24. 2004-02-06
    soldstatus $18,500

ⓘ 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 (unshaded) · 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: $27,473
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,198
• − Management: −$2,198
• − Depreciation: −$10,036
• Taxable loss: −$13,184
• Est. tax savings @ 24.0%: +$3,164
• After-tax cash flow: $-3,743/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+1791.9% since first listed

10 events — show timeline

• 2026-04-12 Relisted — SCMLS
• 2026-04-11 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Pending — SCMLS
• 2026-04-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-23 Listed $350,000 SCMLS
• 2026-03-12 Price Changed $350,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $360,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $370,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-18 Listed $375,000 Stellar MLS as Distributed by MLS Grid
• 2004-02-06 Sold (Public Records) $18,500 Public Records

Property tax history

+19.0%/yr

Latest (2025): $576 · +8.8% YoY. Source: county tax records.