1328 Union St SE · Palm Bay, FL 32909

$245,900

3 bd · 2.0 ba · 975 sqft · SingleFamily public records · 31 Days on market

Built 1988 10,454 sqft lot

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Why this score? — see what drove the C- 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 +12.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

Key facts

• Open floor plan
• Primary suite
• Backyard

Tags

• OPEN FLOOR PLAN
• UPDATED CABINETRY
• BACKYARD
• SPLIT BEDROOM LAYOUT
• PRIMARY SUITE
• EN-SUITE BATHROOM

Property features AI

Exterior

• Parking: Garage; Off-street parking; On-street parking; 1-car garage
• Utilities: Septic tank; Cable available; Electricity connected
• Home design: Single-family residence; Faces north
• Construction: Frame construction
• Exterior features: Patio; Wooded lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Built-in features; Ceiling fans; Eat-in kitchen; Walk-in closets
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $246k.

Deal economics

• At list price, monthly cash flow is $-38 ($-450/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (19.0% below list).
• Recommended offer: $199k (19.0% 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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% FRL); Stone Magnet Middle School (math 33% / reading 35%, grade F, #426 of 571 statewide, top 75%, 670 students, 69% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($239k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $185k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,168 (19.0% 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 31 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 10.3

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: 24.0%
• Equity multiple: 2.93×
• Total profit: $132,861
• Equity at exit: $221,526

10-year hold

• IRR: 21.5%
• Equity multiple: 6.75×
• Total profit: $395,904
• Equity at exit: $477,730

Cash invested: $68,852 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$1,290
• Tax from tax record: −$219 /mo · $2,628/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-38

Break-even live

Break-even rent $2,039

Max offer price $239,271

Occupancy floor 97%

Sensitivity live

Price	-10% $102	-5% $32	+0% $-38	+5% $-107	+10% $-177
Rent	-10% $-195	-5% $-116	+0% $-38	+5% $41	+10% $120
Rate	-1.0pp $86	-0.5pp $25	base $-38	+0.5pp $-101	+1.0pp $-166

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: $61,475
• Closing costs: $7,377
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	14d	8	0.55mi
1630 Agnes Ave SE Palm Bay, FL	3.0	2.0	924	$1,749	$1.89	19d	1	0.61mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	14d	30	0.96mi
1490 Van Buren Ave SE Palm Bay, FL	2.0	1.0	900	$1,600	$1.78	24d	1	1.02mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	24d	1	1.05mi
1430 Valerius St SE Palm Bay, FL	2.0	1.0	904	$1,750	$1.94	24d	1	1.22mi
499 Thor Ave SE #3 Palm Bay, FL	2.0	1.0	850	$1,275	$1.50	24d	1	1.23mi
484 Mercury Ave SE Palm Bay, FL	2.0	1.0	1000	$1,542	$1.54	19d	4	1.31mi
440 Mercury Ave SE Apt E Palm Bay, FL	2.0	1.0	900	$1,250	$1.39	21d	1	1.37mi

Listing history 23 events

1. 2026-06-18
   days on market $245,900 Active 31 DOM
2. 2026-06-17
   days on market $245,900 Active 30 DOM
3. 2026-06-16
   days on market $245,900 Active 29 DOM
4. 2026-06-15
   days on market $245,900 Active 28 DOM
5. 2026-06-14
   days on market $245,900 Active 26 DOM
6. 2026-06-10
   days on market $245,900 Active 23 DOM
7. 2026-06-08
   days on market $245,900 Active 21 DOM
8. 2026-06-07
   days on market $245,900 Active 20 DOM
9. 2026-06-05
   days on market $245,900 Active 17 DOM
10. 2026-06-03
    days on market $245,900 Active 16 DOM
11. 2026-06-02
    days on market $245,900 Active 15 DOM
12. 2026-06-01
    days on market $245,900 Active 14 DOM
13. 2026-05-31
    days on market $245,900 Active 13 DOM
14. 2026-05-31
    days on market $245,900 Active 12 DOM
15. 2026-05-18
    listed $245,900 Active
16. 2021-08-24
    soldstatus $185,000 Closed 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

17. 2021-07-26
    historical Backups 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

18. 2021-07-22
    price $194,900 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

19. 2021-07-16
    price $199,900 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

20. 2021-07-09
    listed $210,000 Active 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

21. 2021-07-08
    historical $210,000 280-char remark

    Show marketing remark (280 chars)

    Cute and Cozy 3 bedroom 2 bath home with tile throughout. Freshly painted with cosmetic upgrades and renovations. Major upgrades include new roof Jan 2019, new HVAC Oct 2018. Drain field replaced in Mar 2010. Listing agent has an interest in the property. Grantor of Union Trust.

22. 1993-07-13
    soldstatus $47,000
23. 1984-10-01
    soldstatus $6,600

ⓘ 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: $2,628 · $219/mo
• Projected year-2 tax: $2,628 · $219/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 22 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: $23,900
• − Mortgage interest: −$13,774
• − Property taxes: −$2,628
• − Insurance: −$1,230
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$7,153
• Taxable loss: −$4,709
• Est. tax savings @ 24.0%: +$1,130
• After-tax cash flow: $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 — 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

+3625.8% since first listed

9 events — show timeline

• 2026-05-18 Listed $245,900 SCMLS
• 2021-08-24 Sold (MLS) $185,000 SCMLS
• 2021-07-26 Contingent — SCMLS
• 2021-07-22 Price Changed $194,900 SCMLS
• 2021-07-16 Price Changed $199,900 SCMLS
• 2021-07-09 Listed $210,000 SCMLS
• 2021-07-08 Coming Soon $210,000 SCMLS
• 1993-07-13 Sold (Public Records) $47,000 Public Records
• 1984-10-01 Sold (Public Records) $6,600 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,628 · -9.5% YoY. Source: county tax records.