2964 Garden Ter NE · Palm Bay, FL 32905

$219,900

3 bd · 3.0 ba · 1,288 sqft · SingleFamily public records · 138 Days on market

Built 1961 9,583 sqft lot

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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).

• Cash flow +11.4/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

Key facts

• Cbs building
• Tile floors
• Close to cocoa beach

Tags

• TILE FLOORS
• CBS BUILDING
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO MAJOR EMPLOYERS
• CLOSE TO COCOA BEACH

Property features AI

Finance

• Other: Unfurnished
• Financial info: Residential use

Exterior

• Parking: Attached garage; 1-space carport
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence
• Construction: Block and concrete construction; Shingle roof
• Exterior features: No private pool; Lot includes 'Other' features; North-facing

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher; Dryer; Microwave; Refrigerator; Washer; Tile flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-78 ($-938/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (17.2% below list).
• Recommended offer: $182k (17.2% 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: Palm Bay Elementary School (math 35% / reading 35%, grade F, #1,697 of 2,144 statewide, top 80%, 586 students, 74% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 69% FRL vs 43% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 55% district-wide (-22 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 321 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% of the median local income ($56k/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 $7k 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 138 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $220k implies a 349% 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,994 (17.2% 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 138 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-45,921
• Equity at exit: $32,788

10-year hold

• IRR: -26.1%
• Equity multiple: -0.09×
• Total profit: $-66,909
• Equity at exit: $19,013

Cash invested: $61,572 (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 32905

• Home prices YoY: -1.8%
• Rents YoY: -0.5%
• Active inventory: 321
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,820 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$271 /mo · $3,254/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-78

Break-even live

Break-even rent $1,919

Max offer price $206,089

Occupancy floor 99%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 Bianca Dr NE Palm Bay, FL	3.0	2.0	1260	$1,800	$1.43	14d	1	0.13mi
772 Cadez St NE Palm Bay, FL	3.0	2.0	1428	$1,641	$1.15	21d	1	0.31mi
1026 Bacon Cir NE Unit A Palm Bay, FL	2.0	1.0	1488	$1,395	$0.94	23d	1	0.32mi
2780 Floresta Dr NE Palm Bay, FL	3.0	2.0	1120	$1,750	$1.56	23d	1	0.45mi
2485 Port Malabar Blvd NE Palm Bay, FL	3.0	1.0–3.0	1181	$4,500	$3.81	14d	301	0.45mi
668 Hampton Dr NE Palm Bay, FL	4.0	2.0	1316	$2,150	$1.63	14d	1	0.50mi
1452 Turkey Creek Dr NE Palm Bay, FL	2.0	2.0	958	$1,500	$1.57	23d	1	0.66mi
1051 Clearmont St NE Unit 202 Palm Bay, FL	2.0	2.0	993	$1,480	$1.49	19d	1	1.09mi
1280 U.S. 1 Unit A Malabar, FL	3.0	1.0	1140	$2,250	$1.97	21d	1	1.40mi

Listing history 40 events

1. 2026-06-18
   days on market $219,900 Active 138 DOM
2. 2026-06-17
   days on market $219,900 Active 137 DOM
3. 2026-06-16
   days on market $219,900 Active 136 DOM
4. 2026-06-15
   days on market $219,900 Active 135 DOM
5. 2026-06-14
   days on market $219,900 Active 133 DOM
6. 2026-06-10
   days on market $219,900 Active 130 DOM
7. 2026-06-08
   days on market $219,900 Active 128 DOM
8. 2026-06-07
   pricedays on market $219,900 Active 127 DOM
9. 2026-06-05
   days on market $224,900 Active 124 DOM
10. 2026-06-03
    days on market $224,900 Active 123 DOM
11. 2026-06-02
    days on market $224,900 Active 122 DOM
12. 2026-06-01
    days on market $224,900 Active 121 DOM
13. 2026-05-31
    days on market $224,900 Active 120 DOM
14. 2026-05-31
    days on market $224,900 Active 119 DOM
15. 2026-02-11
    price $224,900
16. 2026-01-31
    listed $239,900 Active
17. 2025-10-08
    price $245,900 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

18. 2025-08-13
    historical 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

19. 2025-07-29
    price $249,900 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

20. 2025-07-19
    price $254,900 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

21. 2025-07-04
    price $259,900 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

22. 2025-06-06
    listed $269,900 Active 447-char remark

    Show marketing remark (447 chars)

    BEAUTIFUL 3 BED 2 BATH WITH A BONUS ROOM WITH PRIVATE ENTRANCE AND CAR PORT WITH HUGE ENCLOSED PATIO . TENANT OCCUPIED. LEASE EXPIRES 6/30/2026. ALL TILE FLOORS WITH ROOF 2017 , AC 2022 , WATER HEATER 2022 , ELECTRIC PANEL AND PLUMBING ARE GOOD. CLOSE TO MAJOR EMPLOYERS L-3 HARRIS, COLLINS AEROSPACE, NASA ETC. CLOSE TO MELBOURNE SQUARE MALL , DINING, HIGHWAY AND FLORIDA BEAUTIFUL COCOA BEAHCHES. FLORIDA'S LUXURY LIVING AT AN AFFORDABLE PRICE.

23. 2024-07-16
    historical $1,750
24. 2024-04-18
    price $1,750
25. 2024-03-04
    price $1,775
26. 2024-02-23
    listed $1,850
27. 2022-08-01
    historical 89-char remark

    Show marketing remark (89 chars)

    Investor Special. Great For a Flip No Blind Offer. Price is Firm. Cash or Hard Money Only

28. 2022-07-26
    price $175,000 89-char remark

    Show marketing remark (89 chars)

    Investor Special. Great For a Flip No Blind Offer. Price is Firm. Cash or Hard Money Only

29. 2022-07-18
    price $180,000 89-char remark

    Show marketing remark (89 chars)

    Investor Special. Great For a Flip No Blind Offer. Price is Firm. Cash or Hard Money Only

30. 2022-07-15
    price $190,000 89-char remark

    Show marketing remark (89 chars)

    Investor Special. Great For a Flip No Blind Offer. Price is Firm. Cash or Hard Money Only

31. 2022-07-11
    listed $200,000 Active 89-char remark

    Show marketing remark (89 chars)

    Investor Special. Great For a Flip No Blind Offer. Price is Firm. Cash or Hard Money Only

32. 2015-06-03
    soldstatus $49,000
33. 2015-06-02
    soldstatus $49,000
34. 2015-04-21
    listed $56,900
35. 2011-05-19
    soldstatus $25,000
36. 2010-07-20
    listed $29,900
37. 2005-03-14
    soldstatus $120,000
38. 2004-11-10
    soldstatus $85,000
39. 2000-04-12
    soldstatus $45,000
40. 1964-07-28
    soldstatus $12,000

ⓘ 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: $3,254 · $271/mo
• Projected year-2 tax: $3,254 · $271/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $21,839
• − Mortgage interest: −$12,318
• − Property taxes: −$3,254
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$6,397
• Taxable loss: −$4,723
• Est. tax savings @ 24.0%: +$1,134
• After-tax cash flow: $195/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): 24,792
• Household income: $56,411
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1962.0

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 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 4%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% French/Haitian/Cajun 2% 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: ▼ -5.59%
• Current HPI: 309.8748
• Rent YoY: ▼ -0.52%
• 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

+1774.2% since first listed

26 events — show timeline

• 2026-02-11 Price Changed $224,900 SCMLS
• 2026-01-31 Listed $239,900 SCMLS
• 2025-10-08 Price Changed $245,900 SCMLS
• 2025-08-13 Listing Removed — SCMLS
• 2025-07-29 Price Changed $249,900 SCMLS
• 2025-07-19 Price Changed $254,900 SCMLS
• 2025-07-04 Price Changed $259,900 SCMLS
• 2025-06-06 Listed $269,900 SCMLS
• 2024-07-16 Rental Removed $1,750 SCMLS
• 2024-04-18 Price Changed $1,750 SCMLS
• 2024-03-04 Price Changed $1,775 SCMLS
• 2024-02-23 Listed for Rent $1,850 SCMLS
• 2022-08-01 Listing Removed — SCMLS
• 2022-07-26 Price Changed $175,000 SCMLS
• 2022-07-18 Price Changed $180,000 SCMLS
• 2022-07-15 Price Changed $190,000 SCMLS
• 2022-07-11 Listed $200,000 SCMLS
• 2015-06-03 Sold (Public Records) $49,000 Public Records
• 2015-06-02 Sold (MLS) $49,000 SCMLS
• 2015-04-21 Listed $56,900 SCMLS
• 2011-05-19 Sold (MLS) $25,000 SCMLS
• 2010-07-20 Listed $29,900 SCMLS
• 2005-03-14 Sold (Public Records) $120,000 Public Records
• 2004-11-10 Sold (Public Records) $85,000 Public Records
• 2000-04-12 Sold (Public Records) $45,000 Public Records
• 1964-07-28 Sold (Public Records) $12,000 Public Records

Property tax history

+20.1%/yr

Latest (2025): $3,254 · -2.9% YoY. Source: county tax records.