301 Akron Way · Merritt Island, FL 32955

$108,000

2 bd · 2.0 ba · 384 sqft · Condo public records · 58 Days on market

Built 1990 $230/mo HOA ↓ 32% since listing

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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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Riverfront Co-Op Gem in Rockledge - Own Your Slice of Paradise, No HOA or Lot Rent! SELLER IS MOTIVATED! FREE MAINTENANCE FEES FOR ONE YEAR PAID by SELLER AT CLOSING. Discover the hidden gem of Central Brevard County: your dream retirement haven on the Space Coast! Imagine waking up to the gentle shimmer of the Indian River right outside your door—welcome to the best-kept secret in Rockledge, Florida! This is a 55+ community. Thoughtfully upgraded for comfort and style, it stands out in its price range with modern touches and relaxed Florida vibes. A brand-new A/C (2020) keeps you cool on the hottest days. Relax on your spacious screened-in porch—enjoy bug-free morning coffee with river breezes or evening sunsets over the water. THIS IS NOT AN HOA OR RENTED LOT PROPERTY. YOU OWN THE HOME AND SHARES IN THE CO-OP. Monthly maintenance fees cover full cable, internet, trash, lawncare, water, full clubhouse with pool, and many other amenities.

Key facts

• 3,049 sq ft lot
• Community pool
• Built 1990

Property features AI

Finance

• HOA & community: Part of an association (Amari-cana Resorts CO-OP); Monthly association fee of $230; Association covers cable TV, internet, and security; Community amenities include clubhouse, fitness center, gated entry, pickleball, shuffleboard, spa/hot tub and tennis courts; Senior community

Exterior

• Parking: Other parking
• Utilities: Public sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Manufactured home; Single-level entry; Facing north
• Construction: Aluminum siding
• Exterior features: Small lot (about 0.07 acres); Lot features: Other; No private pool

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: 1 bedroom
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Vaulted ceilings
• Laundry & utility: Washer; Dryer

🏢 Co-op / cooperative unit. The $108,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Suntree Elementary School (math 80% / reading 80%, grade A+, #110 of 2,144 statewide, top 5%, 600 students, 23% FRL); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 19% FRL vs 43% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 55% district-wide (+17 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 flat; 321 active listings in the ZIP; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k 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 58 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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.

Risks & watch-outs

• 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 $104,760 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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 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: 1.40% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.91×
• Total profit: $-2,818
• Equity at exit: $16,103

10-year hold

• IRR: 3.1%
• Equity multiple: 1.19×
• Total profit: $5,764
• Equity at exit: $9,338

Cash invested: $30,240 (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 32955

• Home prices YoY: -20.7%
• Rents YoY: 0.1%
• Active inventory: 321
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,512 medium
• Mortgage (P&I): −$566
• Tax from tax record: −$57 /mo · $687/yr
• Insurance: −$45
• HOA: −$230
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $296

Break-even live

Break-even rent $1,138

Max offer price $108,000

Occupancy floor 75%

Sensitivity live

Price	-10% $357	-5% $326	+0% $296	+5% $265	+10% $234
Rent	-10% $176	-5% $236	+0% $296	+5% $355	+10% $415
Rate	-1.0pp $350	-0.5pp $323	base $296	+0.5pp $268	+1.0pp $239

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Likely covers: watertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-08
   status $108,000 Pending 58 DOM
2. 2026-06-07
   days on market $108,000 Active 58 DOM
3. 2026-06-05
   days on market $108,000 Active 55 DOM
4. 2026-06-03
   days on market $108,000 Active 54 DOM
5. 2026-06-02
   days on market $108,000 Active 53 DOM
6. 2026-06-01
   days on market $108,000 Active 52 DOM
7. 2026-05-31
   days on market $108,000 Active 51 DOM
8. 2026-05-31
   days on market $108,000 Active 50 DOM
9. 2026-04-09
   listed $108,000 Active

   Show marketing remark (967 chars)

   Riverfront Co-Op Gem in Rockledge - Own Your Slice of Paradise, No HOA or Lot Rent! SELLER IS MOTIVATED! FREE MAINTENANCE FEES FOR ONE YEAR PAID by SELLER AT CLOSING. Discover the hidden gem of Central Brevard County: your dream retirement haven on the Space Coast! Imagine waking up to the gentle shimmer of the Indian River right outside your door—welcome to the best-kept secret in Rockledge, Florida! This is a 55+ community. Thoughtfully upgraded for comfort and style, it stands out in its price range with modern touches and relaxed Florida vibes. A brand-new A/C (2020) keeps you cool on the hottest days. Relax on your spacious screened-in porch—enjoy bug-free morning coffee with river breezes or evening sunsets over the water. THIS IS NOT AN HOA OR RENTED LOT PROPERTY. YOU OWN THE HOME AND SHARES IN THE CO-OP. Monthly maintenance fees cover full cable, internet, trash, lawncare, water, full clubhouse with pool, and many other amenities.

10. 2026-04-09
    historical 967-char remark

    Show marketing remark (967 chars)

    Riverfront Co-Op Gem in Rockledge - Own Your Slice of Paradise, No HOA or Lot Rent! SELLER IS MOTIVATED! FREE MAINTENANCE FEES FOR ONE YEAR PAID by SELLER AT CLOSING. Discover the hidden gem of Central Brevard County: your dream retirement haven on the Space Coast! Imagine waking up to the gentle shimmer of the Indian River right outside your door—welcome to the best-kept secret in Rockledge, Florida! This is a 55+ community. Thoughtfully upgraded for comfort and style, it stands out in its price range with modern touches and relaxed Florida vibes. A brand-new A/C (2020) keeps you cool on the hottest days. Relax on your spacious screened-in porch—enjoy bug-free morning coffee with river breezes or evening sunsets over the water. THIS IS NOT AN HOA OR RENTED LOT PROPERTY. YOU OWN THE HOME AND SHARES IN THE CO-OP. Monthly maintenance fees cover full cable, internet, trash, lawncare, water, full clubhouse with pool, and many other amenities.

11. 2026-01-06
    price $124,900 967-char remark

    Show marketing remark (967 chars)

    Riverfront Co-Op Gem in Rockledge - Own Your Slice of Paradise, No HOA or Lot Rent! SELLER IS MOTIVATED! FREE MAINTENANCE FEES FOR ONE YEAR PAID by SELLER AT CLOSING. Discover the hidden gem of Central Brevard County: your dream retirement haven on the Space Coast! Imagine waking up to the gentle shimmer of the Indian River right outside your door—welcome to the best-kept secret in Rockledge, Florida! This is a 55+ community. Thoughtfully upgraded for comfort and style, it stands out in its price range with modern touches and relaxed Florida vibes. A brand-new A/C (2020) keeps you cool on the hottest days. Relax on your spacious screened-in porch—enjoy bug-free morning coffee with river breezes or evening sunsets over the water. THIS IS NOT AN HOA OR RENTED LOT PROPERTY. YOU OWN THE HOME AND SHARES IN THE CO-OP. Monthly maintenance fees cover full cable, internet, trash, lawncare, water, full clubhouse with pool, and many other amenities.

12. 2025-12-03
    listed $133,000 Active 967-char remark

    Show marketing remark (24 chars)

    Ameri-cana resorts home.

13. 2025-12-03
    historical 24-char remark

    Show marketing remark (24 chars)

    Ameri-cana resorts home.

14. 2025-10-30
    price $133,000 24-char remark

    Show marketing remark (24 chars)

    Ameri-cana resorts home.

15. 2025-08-20
    price $139,000 24-char remark

    Show marketing remark (24 chars)

    Ameri-cana resorts home.

16. 2025-06-11
    listed $143,000 Active 24-char remark

    Show marketing remark (24 chars)

    Ameri-cana resorts home.

17. 2024-04-22
    soldstatus $154,000 Closed
18. 2024-04-02
    historical Active Under Contract
19. 2024-03-24
    price $155,000
20. 2024-03-16
    listed $159,000 Active

ⓘ 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: $687 · $57/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$209/yr (+$17/mo · 30.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $18,140
• − Mortgage interest: −$6,050
• − Property taxes: −$687
• − Insurance: −$540
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − HOA: −$2,760
• − Depreciation: −$3,142
• Taxable income: $2,059
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $3,053/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,008
• Household income: $86,457
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1273.0

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 (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 7% · Canada, Jamaica, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 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: ▼ -81.70%
• Current HPI: 312.7435
• Rent YoY: ▲ 0.12%
• 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

-32.1% since first listed

12 events — show timeline

• 2026-04-09 Listing Removed — SCMLS
• 2026-04-09 Listed $108,000 SCMLS
• 2026-01-06 Price Changed $124,900 SCMLS
• 2025-12-03 Listing Removed — SCMLS
• 2025-12-03 Listed $133,000 SCMLS
• 2025-10-30 Price Changed $133,000 SCMLS
• 2025-08-20 Price Changed $139,000 SCMLS
• 2025-06-11 Listed $143,000 SCMLS
• 2024-04-22 Sold (MLS) $154,000 SCMLS
• 2024-04-02 Contingent — SCMLS
• 2024-03-24 Price Changed $155,000 SCMLS
• 2024-03-16 Listed $159,000 SCMLS

Property tax history

-0.9%/yr

Latest (2025): $687 · +34.7% YoY. Source: county tax records.