220 Stephenson Dr · West Melbourne, FL 32904

$219,000

3 bd · 2.0 ba · 994 sqft · SingleFamily public records · 111 Days on market

Built 1956 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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

EXCELLENT LOCATION NEXT TO I95 MAJOR SHOPPING AND RESTAURANTS THE HOUSE IS CURRENTLY GOING UNDER REMODELING SHOULD BE READY TO MOVE IN BY END OF JUNE

Key facts

• 0.24 acre lot
• Garage
• Built 1956

Property features AI

Finance

• Other: No private pool
• Financial info: Property on 0.24 acres

Exterior

• Parking: Garage; 1-car garage
• Utilities: Public sewer; Cable available; Electricity available; Sewer available; Water available
• Home design: Single Family Residence; Currently used as a single family home
• Construction: Block and stucco construction
• Exterior features: Other exterior features; Property faces east; Dead end street lot

Interior

• Bedrooms: 3 bedrooms (main level)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Tile flooring; 1 total room
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (5.7% below list).
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#73 in FL, #1,214 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: commute D+, amenities F.
• 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); Melbourne Senior High School (math 43% / reading 57%, grade D+, #175 of 667 statewide, top 27%, 2,249 students, 31% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents soft (-0.3%/yr); 304 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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

• 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 111 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $199,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are A-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 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: 0.94% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 8.8

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: -12.3%
• Equity multiple: 0.57×
• Total profit: $-26,542
• Equity at exit: $32,654

10-year hold

• IRR: -8.1%
• Equity multiple: 0.55×
• Total profit: $-27,311
• Equity at exit: $18,935

Cash invested: $61,320 (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 32904

• Rents YoY: -0.3%
• Active inventory: 304
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,066 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$156 /mo · $1,877/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $236

Break-even live

Break-even rent $1,767

Max offer price $219,000

Occupancy floor 84%

Sensitivity live

Price	-10% $360	-5% $298	+0% $236	+5% $174	+10% $112
Rent	-10% $73	-5% $155	+0% $236	+5% $318	+10% $399
Rate	-1.0pp $346	-0.5pp $292	base $236	+0.5pp $179	+1.0pp $122

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 Nebula Way West Melbourne, FL	1.0–2.0	1.0–2.0	982	$2,031	$2.07	14d	15	0.39mi
122 Laurel Oak St West Melbourne, FL	2.0	1.0	1008	$1,450	$1.44	24d	1	0.41mi
4850 Heritage Lakes BLVD West Melbourne, FL	1.0–3.0	1.0–2.5	1018	$2,444	$2.40	14d	119	0.46mi
515 Jennifer Cir Melbourne, FL	2.0	2.0	828	$1,600	$1.93	24d	1	1.15mi
338 Elm St Melbourne, FL	2.0	1.0	992	$1,400	$1.41	15d	1	1.22mi

Listing history 17 events

1. 2026-06-18
   days on market $219,000 Active 111 DOM
2. 2026-06-17
   days on market $219,000 Active 110 DOM
3. 2026-06-16
   days on market $219,000 Active 109 DOM
4. 2026-06-15
   days on market $219,000 Active 108 DOM
5. 2026-06-14
   days on market $219,000 Active 106 DOM
6. 2026-06-10
   days on market $219,000 Active 103 DOM
7. 2026-06-08
   days on market $219,000 Active 101 DOM
8. 2026-06-07
   days on market $219,000 Active 100 DOM
9. 2026-06-05
   days on market $219,000 Active 97 DOM
10. 2026-06-03
    days on market $219,000 Active 96 DOM
11. 2026-06-02
    days on market $219,000 Active 95 DOM
12. 2026-06-01
    days on market $219,000 Active 94 DOM
13. 2026-05-31
    days on market $219,000 Active 93 DOM
14. 2026-05-31
    days on market $219,000 Active 92 DOM
15. 2026-05-18
    price $219,000
16. 2026-05-04
    price $169,000
17. 2026-02-27
    listed $189,000 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: $1,877 · $156/mo
• Projected year-2 tax: $1,877 · $156/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $24,794
• − Mortgage interest: −$12,267
• − Property taxes: −$1,877
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$6,371
• Taxable loss: −$783
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $3,022/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 — West Melbourne

• Score: 82/100
• State rank: #73
• US rank: #1214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Melbourne, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 37,241
• Household income: $90,673
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 597.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 10% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Chinese 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: ▼ -195.98%
• Current HPI: 304.2546
• Rent YoY: ▼ -0.32%
• 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

+15.9% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $219,000 SCMLS
• 2026-05-04 Price Changed $169,000 SCMLS
• 2026-02-27 Listed $189,000 SCMLS

Property tax history

+14.3%/yr

Latest (2025): $1,877 · +1.7% YoY. Source: county tax records.