2739 Felix Rd SE · Palm Bay, FL 32909

$469,000

4 bd · 3.0 ba · 2,084 sqft · Land · 113 Days on market

Built 2026 0.25 ac lot

---

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
• Schools +4.7/10.0
• Cash flow +3.7/30.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks

$30,000 FLEX CASH!! 3 CAR GARAGE (first of its kind)!! The Bali model offers 4 bedrooms + den (optional 5th bedroom) and 3 full bathrooms. Currently under construction with completion expected in June. The home features hurricane impact windows, a split floor plan, 8-ft doors, 9'4'' ceilings, tray ceilings with fans in the living room and primary suite, floor-to-ceiling tile in tubs and showers, solid wood soft-close cabinetry, and premium granite countertops throughout. Pictures are of previous model.

Key facts

• Split floor plan
• 8-ft doors
• 9'4'' ceilings

Tags

• HURRICANE IMPACT WINDOWS
• SPLIT FLOOR PLAN
• 8-FT DOORS
• 9'4'' CEILINGS
• TRAY CEILINGS
• FLOOR-TO-CEILING TILE

Property features AI

Exterior

• Parking: Garage; 3-car garage
• Utilities: Aerobic septic system; Electricity available; Water available
• Home design: Single family residence; New construction; Faces northwest
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Cleared lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Has heating and cooling
• Interior features: Dishwasher; Microwave; Refrigerator
• Laundry & utility: Unfurnished (no built-in laundry listed)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $469k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (42.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (49.4% below list).
• Recommended offer: $237k (49.4% 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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL).
• Zoned-school proficiency averages 42% 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 rising (+3.7%/yr); 1111 active listings in the ZIP; 22 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 ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $50k of equity ($3k loan paydown + $47k 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 ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($427k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $469k implies a 1240% 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 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,442 (49.4% 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 113 days. Have you received any prior offers? Is the seller open to a 49% 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: 0.51% ✗
• Cap rate: 2.80%
• Cash-on-cash: -12.48%
• DSCR: 0.44
• GRM: 16.5

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: 15.7%
• Equity multiple: 2.30×
• Total profit: $170,116
• Equity at exit: $422,512

10-year hold

• IRR: 15.3%
• Equity multiple: 5.36×
• Total profit: $572,782
• Equity at exit: $911,164

Cash invested: $131,320 (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: 16.5×

Monthly cashflow live

• Estimated rent: $2,374 high
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-1,365

Break-even live

Break-even rent $4,103

Max offer price $271,430

Occupancy floor —

Sensitivity live

Price	-10% $-1,041	-5% $-1,203	+0% $-1,365	+5% $-1,527	+10% $-1,689
Rent	-10% $-1,553	-5% $-1,459	+0% $-1,365	+5% $-1,272	+10% $-1,178
Rate	-1.0pp $-1,129	-0.5pp $-1,246	base $-1,365	+0.5pp $-1,487	+1.0pp $-1,611

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	24d	1	0.22mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.29mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	14d	1	0.56mi
2650 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1874	$2,350	$1.25	14d	1	0.57mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	21d	1	0.67mi
555 Gagnon St SE Palm Bay, FL	4.0	3.0	2373	$2,400	$1.01	24d	1	0.69mi
238 Silver Frost St SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	24d	1	0.82mi
286 Silver Frost St SE Palm Bay, FL	4.0	2.0	1833	$1,925	$1.05	14d	1	0.82mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	0.84mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	24d	1	0.85mi
291 Foley St SE Palm Bay, FL	4.0	2.0	1833	$2,025	$1.10	13d	1	0.86mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	14d	1	0.89mi
3247 Halblum Ave SE Palm Bay, FL	4.0	3.0	1820	$2,516	$1.38	13d	1	0.98mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	21d	1	0.99mi
3270 Framingham Ave SW Palm Bay, FL	4.0	2.0	1856	$2,400	$1.29	24d	1	1.00mi
448 Saint Andre Blvd SW Palm Bay, FL	4.0	2.0	2088	$4,000	$1.92	24d	1	1.01mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	24d	1	1.03mi
2437 Hagoplan Ave SW Palm Bay, FL	3.0	2.0	1840	$2,150	$1.17	24d	1	1.06mi
830 Painesville St SE Palm Bay, FL	3.0	2.0	2029	$2,220	$1.09	14d	1	1.24mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	24d	1	1.39mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	24d	1	1.40mi
583 Halifax St SW Palm Bay, FL	4.0	2.0	1833	$2,075	$1.13	13d	1	1.42mi

Listing history 17 events

1. 2026-06-18
   days on market $469,000 Active 113 DOM
2. 2026-06-17
   days on market $469,000 Active 112 DOM
3. 2026-06-16
   days on market $469,000 Active 111 DOM
4. 2026-06-15
   days on market $469,000 Active 110 DOM
5. 2026-06-14
   days on market $469,000 Active 108 DOM
6. 2026-06-10
   days on market $469,000 Active 105 DOM
7. 2026-06-08
   days on market $469,000 Active 103 DOM
8. 2026-06-07
   days on market $469,000 Active 102 DOM
9. 2026-06-05
   days on market $469,000 Active 99 DOM
10. 2026-06-03
    days on market $469,000 Active 98 DOM
11. 2026-06-02
    days on market $469,000 Active 97 DOM
12. 2026-06-01
    days on market $469,000 Active 96 DOM
13. 2026-05-31
    days on market $469,000 Active 95 DOM
14. 2026-05-31
    days on market $469,000 Active 94 DOM
15. 2026-02-25
    listed $469,000 Active
16. 2024-04-05
    soldstatus $35,000
17. 2001-08-20
    soldstatus $11,000

ⓘ 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 6 d/yr ≥106°F today · 19 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: $28,493
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$2,279
• − Management: −$2,279
• − Depreciation: −$13,644
• Taxable loss: −$25,361
• Est. tax savings @ 24.0%: +$6,087
• After-tax cash flow: $-10,298/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

+4163.6% since first listed

3 events — show timeline

• 2026-02-25 Listed $469,000 SCMLS
• 2024-04-05 Sold (Public Records) $35,000 Public Records
• 2001-08-20 Sold (Public Records) $11,000 Public Records

Property tax history

+19.2%/yr

Latest (2025): $585 · +107.0% YoY. Source: county tax records.