280 Grant Ave · Satellite Beach, FL 32937

$775,000

15 bd · 4.0 ba · 1,820 sqft · MultiFamily public records · 140 Days on market

Built 1957 10,454 sqft lot

---

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 +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Outstanding Location! Stunning curve appeal, beautifully Paver Driveway, nicely landscaped PLUS Freshly Repainted Exterior & Interior! FULLY Remodeled Triplex, 2 blocks from the beach! Brand New Tile Flooring Throughout, New Kitchen cabinets, countertops and stainless steel appliance PLUS a stunning tiled backsplash. Bathroom offers a new vanity and tiled bath with tub. New Light fixtures & fans throughout! Two units are 2 bedroom 1 baths, Third Unit offers 1 bedroom 1 bath EACH UNIT offers a PRIVATE Screened in Back Patio! Fully Fenced Backyard CONCRETE BLOCK BUILDINGS, 3 Concrete Storage Areas. This is the investment property you've been waiting for! Schedule your showing today!

Key facts

• 0.24 acre lot
• Pool
• Built 1957

Property features AI

Finance

• Other: Unfurnished; Lot size approximately 0.24 acres

Exterior

• Parking: Shared driveway
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Triplex; Single-story; Entry level: 1; Faces south
• Construction: Block construction; Shingle roof; One building
• Exterior features: Private above-ground pool; Full fencing; Paved road access; Other on-site structure

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $-876 ($-11k/yr) — negative. Per door: $-292/mo.
• To cash-flow at today's rent, offer at most $620k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $568k (26.7% below list).
• Recommended offer: $568k (26.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#45 in FL, #856 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living 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.
• Zoned schools: Spessard L. Holland Elementary School (math 79% / reading 79%, grade A, #137 of 2,144 statewide, top 6%, 432 students, 27% FRL); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Satellite Senior High School (math 65% / reading 71%, grade B, #66 of 667 statewide, top 10%, 1,517 students, 20% FRL) — zoned schools average 23% FRL vs 43% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 73% at this address vs 55% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 312 active listings in the ZIP; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• At $5,684/mo this rent would consume 67% of the median local household income ($101k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k 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 140 days — a 12% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $75k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $568,400 (26.7% 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. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are A-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?
10. 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?
11. 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.
12. 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.
13. 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: 0.73% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -26.1%
• Equity multiple: 0.13×
• Total profit: $-189,443
• Equity at exit: $115,555

10-year hold

• IRR: -28.4%
• Equity multiple: -0.24×
• Total profit: $-268,993
• Equity at exit: $67,008

Cash invested: $217,000 (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 32937

• Rents YoY: 1.6%
• Active inventory: 312
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $5,684 medium
• Mortgage (P&I): −$4,064
• Tax from tax record: −$913 /mo · $10,951/yr
• Insurance: −$323
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,194
• Net cashflow: $-876

Break-even live

Break-even rent $6,793

Max offer price $620,295

Occupancy floor —

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,934
1× unit	1	1	$1,750
Total (3 units)			$5,684

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $775,000 Active 140 DOM
2. 2026-06-17
   days on market $775,000 Active 139 DOM
3. 2026-06-16
   days on market $775,000 Active 138 DOM
4. 2026-06-15
   days on market $775,000 Active 137 DOM
5. 2026-06-14
   days on market $775,000 Active 135 DOM
6. 2026-06-10
   days on market $775,000 Active 132 DOM
7. 2026-06-08
   days on market $775,000 Active 130 DOM
8. 2026-06-07
   days on market $775,000 Active 129 DOM
9. 2026-06-05
   days on market $775,000 Active 126 DOM
10. 2026-06-03
    days on market $775,000 Active 125 DOM
11. 2026-06-02
    days on market $775,000 Active 124 DOM
12. 2026-06-01
    days on market $775,000 Active 123 DOM
13. 2026-05-31
    days on market $775,000 Active 122 DOM
14. 2026-05-31
    days on market $775,000 Active 121 DOM
15. 2026-04-17
    price $775,000
16. 2026-03-21
    price $799,000
17. 2026-03-12
    price $814,000
18. 2026-01-29
    listed $850,000 Active
19. 2026-01-28
    historical $850,000
20. 2022-07-05
    soldstatus $725,800
21. 2022-06-14
    soldstatus $725,750 Closed 702-char remark

    Show marketing remark (702 chars)

    Outstanding Location! Stunning curve appeal, beautifully Paver Driveway, nicely landscaped PLUS Freshly Repainted Exterior & Interior! FULLY Remodeled Triplex, 2 blocks from the beach! Brand New Tile Flooring Throughout, New Kitchen cabinets, countertops and stainless steel appliance PLUS a stunning tiled backsplash. Bathroom offers a new vanity and tiled bath with tub. New Light fixtures & fans throughout! Two units are 2 bedroom 1 baths, Third Unit offers 1 bedroom 1 bath EACH UNIT offers a PRIVATE Screened in Back Patio! Fully Fenced Backyard CONCRETE BLOCK BUILDINGS, 3 Concrete Storage Areas. This is the investment property you've been waiting for! Schedule your showing today!

22. 2022-05-26
    historical Backups 702-char remark

    Show marketing remark (702 chars)

    Outstanding Location! Stunning curve appeal, beautifully Paver Driveway, nicely landscaped PLUS Freshly Repainted Exterior & Interior! FULLY Remodeled Triplex, 2 blocks from the beach! Brand New Tile Flooring Throughout, New Kitchen cabinets, countertops and stainless steel appliance PLUS a stunning tiled backsplash. Bathroom offers a new vanity and tiled bath with tub. New Light fixtures & fans throughout! Two units are 2 bedroom 1 baths, Third Unit offers 1 bedroom 1 bath EACH UNIT offers a PRIVATE Screened in Back Patio! Fully Fenced Backyard CONCRETE BLOCK BUILDINGS, 3 Concrete Storage Areas. This is the investment property you've been waiting for! Schedule your showing today!

23. 2022-05-24
    listed $739,900 Active 702-char remark

    Show marketing remark (702 chars)

    Outstanding Location! Stunning curve appeal, beautifully Paver Driveway, nicely landscaped PLUS Freshly Repainted Exterior & Interior! FULLY Remodeled Triplex, 2 blocks from the beach! Brand New Tile Flooring Throughout, New Kitchen cabinets, countertops and stainless steel appliance PLUS a stunning tiled backsplash. Bathroom offers a new vanity and tiled bath with tub. New Light fixtures & fans throughout! Two units are 2 bedroom 1 baths, Third Unit offers 1 bedroom 1 bath EACH UNIT offers a PRIVATE Screened in Back Patio! Fully Fenced Backyard CONCRETE BLOCK BUILDINGS, 3 Concrete Storage Areas. This is the investment property you've been waiting for! Schedule your showing today!

24. 2022-01-28
    soldstatus $500,000 Closed 165-char remark

    Show marketing remark (165 chars)

    Great income opportunity for a beachside triplex. Concrete block construction with city water/sewer. 3 units with a Circular driveway with a total of 1820 under air.

25. 2021-12-21
    historical 165-char remark

    Show marketing remark (165 chars)

    Great income opportunity for a beachside triplex. Concrete block construction with city water/sewer. 3 units with a Circular driveway with a total of 1820 under air.

26. 2021-12-20
    listed $600,000 165-char remark

    Show marketing remark (165 chars)

    Great income opportunity for a beachside triplex. Concrete block construction with city water/sewer. 3 units with a Circular driveway with a total of 1820 under air.

27. 1995-01-30
    soldstatus $92,500
28. 1993-06-22
    soldstatus $60,000

ⓘ 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: $10,951 · $913/mo
• Projected year-2 tax: $10,951 · $913/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 7/10 Severe FEMA zone X (shaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 24 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: $68,208
• − Mortgage interest: −$43,412
• − Property taxes: −$10,951
• − Insurance: −$4,672
• − Repairs & maintenance: −$5,457
• − Management: −$5,457
• − Depreciation: −$22,545
• Taxable loss: −$24,286
• Est. tax savings @ 24.0%: +$5,829
• After-tax cash flow: $-4,680/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 — Satellite Beach

• Score: 83/100
• State rank: #45
• US rank: #856

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Satellite Beach, FL
• County: Brevard County · 602,871 people
• City population: 27,836
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 27,836
• Household income: $101,184
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 534.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 7% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -336.76%
• Current HPI: 361.3801
• Rent YoY: ▲ 1.55%
• 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

+1191.7% since first listed

14 events — show timeline

• 2026-04-17 Price Changed $775,000 SCMLS
• 2026-03-21 Price Changed $799,000 SCMLS
• 2026-03-12 Price Changed $814,000 SCMLS
• 2026-01-29 Listed $850,000 SCMLS
• 2026-01-28 Coming Soon $850,000 SCMLS
• 2022-07-05 Sold (Public Records) $725,800 Public Records
• 2022-06-14 Sold (MLS) $725,750 SCMLS
• 2022-05-26 Contingent — SCMLS
• 2022-05-24 Listed $739,900 SCMLS
• 2022-01-28 Sold (MLS) $500,000 SCMLS
• 2021-12-21 Listing Removed — SCMLS
• 2021-12-20 Listed $600,000 SCMLS
• 1995-01-30 Sold (Public Records) $92,500 Public Records
• 1993-06-22 Sold (Public Records) $60,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $10,951 · -6.8% YoY. Source: county tax records.