2218 Croft Inlet Dr NW · Palm Bay, FL 32907

$323,170

4 bd · 2.5 ba · 1,869 sqft · Land · 7 Days on market

Built 2026 6,098 sqft lot $265/mo HOA · 12% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This two-story home showcases a contemporary open design among the first-floor kitchen, family room and dining room to promote seamless transitions between spaces. Through sliding glass doors is a covered lanai. Upstairs caters to a centrally located loft and all four bedrooms, including the spacious owner's suite complemented by an adjoining bathroom and large walk-in closet. Prices, dimensions and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Covered lanai
• Large walk-in closet
• Owner's suite

Tags

• COVERED LANAI
• OWNER'S SUITE
• LARGE WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $323k.

Deal economics

• At list price, monthly cash flow is $-518 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (29.6% below list).
• Recommended offer: $228k (29.6% 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: employment D+, amenities 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: Meadowlane Primary Elementary School (650 students, 47% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL).
• Zoned-school proficiency averages 43% at this address vs 55% district-wide (-12 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 739 active listings in the ZIP; 5 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 36% of the median local income ($75k/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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $227,544 (29.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.70% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.87%
• DSCR: 0.69
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -30.6%
• Equity multiple: 0.01×
• Total profit: $-89,906
• Equity at exit: $48,186

10-year hold

• IRR: -45.9%
• Equity multiple: -0.53×
• Total profit: $-138,689
• Equity at exit: $27,942

Cash invested: $90,488 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 739
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,275 high
• Mortgage (P&I): −$1,695
• Tax from tax record: −$221 /mo · $2,652/yr
• Insurance: −$135
• HOA: −$265
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-518

Break-even live

Break-even rent $2,931

Max offer price $231,697

Occupancy floor —

Sensitivity live

Price	-10% $-335	-5% $-426	+0% $-518	+5% $-609	+10% $-701
Rent	-10% $-698	-5% $-608	+0% $-518	+5% $-428	+10% $-338
Rate	-1.0pp $-355	-0.5pp $-436	base $-518	+0.5pp $-602	+1.0pp $-687

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: $80,792
• Closing costs: $9,695
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1649 Cains Ave NW Palm Bay, FL	3.0	2.0	1294	$2,000	$1.55	24d	1	0.71mi
1460 Cass Ave NW Palm Bay, FL	3.0	2.0	1254	$1,765	$1.41	24d	1	0.79mi
1743 Fairlight St NW Palm Bay, FL	4.0	2.0	1860	$2,250	$1.21	24d	1	1.34mi
1483 Jasper Ave NW Palm Bay, FL	3.0	2.0	1644	$1,800	$1.09	15d	1	1.39mi
1492 Glencove Ave NW Palm Bay, FL	3.0	2.0	1679	$1,800	$1.07	24d	1	1.42mi

HOA detail

• Monthly dues: $265 · $3,180/yr

Listing history 6 events

1. 2026-03-09
   status Pending
2. 2026-03-02
   status Active
3. 2026-02-26
   historical
4. 2026-02-26
   listed $323,170 Active
5. 2025-11-20
   soldstatus $1,868,100
6. 2024-09-20
   soldstatus $5,355,000

ⓘ 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: $2,652 · $221/mo
• Projected year-2 tax: $2,682 · $224/mo
• Expected delta: +$30/yr (+$3/mo · 1.1%)

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

Taxation est. · year 1

• Rental income: $27,305
• − Mortgage interest: −$18,103
• − Property taxes: −$2,652
• − Insurance: −$1,616
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − HOA: −$3,180
• − Depreciation: −$9,401
• Taxable loss: −$12,015
• Est. tax savings @ 24.0%: +$2,884
• After-tax cash flow: $-3,330/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

-94.0% since first listed

6 events — show timeline

• 2026-03-09 Pending — SCMLS
• 2026-03-02 Relisted — SCMLS
• 2026-02-26 Listed $323,170 SCMLS
• 2026-02-26 Listing Removed — SCMLS
• 2025-11-20 Sold (Public Records) $1,868,100 Public Records
• 2024-09-20 Sold (Public Records) $5,355,000 Public Records