2511 Bruce D Buggs St · Melbourne, FL 32901

$125,000

2 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 98 Days on market

Built 1934 0.68 ac lot

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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 +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Craftsman Fixer-Upper on Rare . 68-Acre Lot! Step into the charm and character of this older Craftsman-style home, complete with a huge front porch. Set on an expansive . 68-acre lot—a true rarity in this area—this property offers endless possibilities for renovation, restoration, or new construction. The existing home requires a total renovation, making it an ideal opportunity for investors, builders, or buyers looking to customize a unique residence with classic appeal. Key Features: Charming Craftsman-style home Large front porch with tons of potential Oversized . 68-acre lot—rare for the area Renovate the existing structure or build brand-new Buyer to verify buil

Key facts

• Sewer available
• 68-acre lot
• Public water

Tags

• 68-ACRE LOT
• PUBLIC WATER
• SEWER AVAILABLE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Harbor City Elementary School (math 57% / reading 47%, grade C-, #990 of 2,144 statewide, top 48%, 403 students, 70% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL).
• Market conditions: Rents rising (+1.7%/yr); 202 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 38% of the median local income ($55k/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 $864 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 + 1.7% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $125k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.01%
• DSCR: 1.85
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.37×
• Total profit: $12,829
• Equity at exit: $18,638

10-year hold

• IRR: 17.5%
• Equity multiple: 2.36×
• Total profit: $47,705
• Equity at exit: $10,808

Cash invested: $35,000 (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 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$656
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $555

Break-even live

Break-even rent $1,027

Max offer price $125,000

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Brothers Ave Unit 101 Melbourne, FL	1.0	1.0	700	$1,445	$2.06	23d	1	0.30mi
2700 Carlson Cir Melbourne, FL	1.0–2.0	1.0–2.0	879	$1,242	$1.41	23d	1	0.47mi
603 E New Haven Ave Melbourne, FL	1.0	1.0	1118	$1,575	$1.41	14d	1	0.51mi
635 E New Haven Ave Melbourne, FL	1.0–2.0	1.0–2.0	899	$2,700	$3.00	23d	1	0.51mi
248 E University Blvd Melbourne, FL	1.0–2.0	1.0	720	$1,449	$2.01	14d	5	0.57mi
512 E Strawbridge Ave Melbourne, FL	3.0	1.0	1487	$2,400	$1.61	21d	1	0.64mi
3101 Wiley Ave Melbourne, FL	3.0	2.0	1185	$1,499	$1.26	23d	1	0.66mi
533 E Lincoln Ave Melbourne, FL	2.0	1.0	796	$1,800	$2.26	23d	1	0.69mi
343 Talbot St Melbourne, FL	3.0	2.0	1355	$1,699	$1.25	23d	1	0.69mi
100 E University Blvd Melbourne, FL	1.0–3.0	1.0–1.5	756	$1,437	$1.90	13d	16	0.77mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	23d	1	0.77mi
3008 Hanson Ave Melbourne, FL	1.0	1.0	840	$1,125	$1.34	23d	1	0.81mi
21 Rosevere Way Melbourne, FL	3.0	2.0	1467	$1,900	$1.30	14d	1	0.84mi
1914 Fletcher St Melbourne, FL	2.0	2.0	907	$1,700	$1.87	23d	1	0.88mi
3151 S Babcock St Melbourne, FL	1.0–2.0	1.0–2.0	807	$1,595	$1.98	14d	10	0.93mi
300 Amherst Ave Melbourne, FL	3.0	2.0	1353	$2,050	$1.52	14d	1	1.08mi
212 Dubber Rd Melbourne, FL	3.0	2.0	1230	$2,000	$1.63	23d	1	1.09mi
2900 Vassar St Melbourne, FL	3.0	2.0	1316	$1,925	$1.46	14d	1	1.13mi
1921 Park Ave Melbourne, FL	3.0	1.0	900	$1,775	$1.97	23d	1	1.13mi
300 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,850	$2.03	23d	1	1.23mi
309 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,700	$1.86	21d	1	1.29mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$1,736	$1.59	13d	33	1.36mi
208 Seminole Ave W Unit 1 Melbourne, FL	2.0	1.0	966	$2,900	$3.00	23d	1	1.39mi
3522 D'Avinci Way Melbourne, FL	2.0	2.0	875	$1,625	$1.86	23d	1	1.40mi
3502 D'Avinci Way Melbourne, FL	2.0–3.0	2.0	998	$1,480	$1.48	14d	15	1.43mi
3595 Misty Oak Dr Melbourne, FL	1.0–2.0	1.0–2.0	747	$1,550	$2.07	13d	6	1.44mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	1.45mi

Listing history 9 events

1. 2026-03-16
   status Pending
2. 2026-02-16
   status Active
3. 2026-01-27
   status Pending
4. 2026-01-13
   price $125,000
5. 2025-11-06
   listed $150,000 Active
6. 2025-05-16
   historical
7. 2025-04-28
   listed $335,000 Active
8. 2023-08-23
   soldstatus $70,000
9. 1990-03-01
   soldstatus $18,000

ⓘ 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: $1,241 · $103/mo
• Projected year-2 tax: $1,241 · $103/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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $20,743
• − Mortgage interest: −$7,002
• − Property taxes: −$1,241
• − Insurance: −$625
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$3,636
• Taxable income: $4,920
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $5,474/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 — Melbourne

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

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

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 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 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: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• 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

+594.4% since first listed

9 events — show timeline

• 2026-03-16 Pending — SCMLS
• 2026-02-16 Relisted — SCMLS
• 2026-01-27 Pending — SCMLS
• 2026-01-13 Price Changed $125,000 SCMLS
• 2025-11-06 Listed $150,000 SCMLS
• 2025-05-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-28 Listed $335,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-23 Sold (Public Records) $70,000 Public Records
• 1990-03-01 Sold (Public Records) $18,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,241 · +12.4% YoY. Source: county tax records.