777 Indigo St SE · Palm Bay, FL 32909

$417,500

4 bd · 3.0 ba · 2,304 sqft · SingleFamily public records · 40 Days on market

Built 2020 10,019 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.4/10.0

Listing remarks MLS

Under construction now, the Florence is a popular open concept plan plan with a Study. At the heart of the home is a beautiful kitchen with a center island and an enlarged breakfast nook The Great Room has sliding glass doors leading to the covered porch. Upgraded master bath with double sinks, and tiled shower with enclosure. Bedroom 4 has an en-suite bath. Energy efficient features, hurricane shutters and a 2-10 builder warranty make this new home the right choice! Estimated completion is October so don't wait to make this home yours!

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2020

Property features AI

Exterior

• Parking: Attached garage; 2-car garage; On-street parking
• Security: Storm shutters
• Utilities: Public sewer; Electricity connected; Cable available
• Home design: Single family residence; One-story; North-facing
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Impact windows; Storm shutters; Patio; Screened patio; Cleared lot; Drainage canal on lot; City street frontage; Asphalt road

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Microwave; Refrigerator; Freezer; Ice maker
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning (electric); HVAC energy-efficient features
• Interior features: Ceiling fans; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Split bedroom layout; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $418k.

Deal economics

• At list price, monthly cash flow is $-778 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (32.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (41.0% below list).
• Recommended offer: $246k (41.0% 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 37% 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 $45k of equity ($3k loan paydown + $42k 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 ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($405k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $274k; list at $418k implies a 53% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,287 (41.0% 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 40 days. Have you received any prior offers? Is the seller open to a 41% 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. 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?
5. 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.
6. 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.
7. 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: 0.59% ✗
• Cap rate: 4.06%
• Cash-on-cash: -7.98%
• DSCR: 0.64
• GRM: 14.1

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: 18.8%
• Equity multiple: 2.54×
• Total profit: $179,469
• Equity at exit: $376,117

10-year hold

• IRR: 17.5%
• Equity multiple: 5.88×
• Total profit: $570,811
• Equity at exit: $811,111

Cash invested: $116,900 (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: 14.1×

Monthly cashflow live

• Estimated rent: $2,463 high
• Mortgage (P&I): −$2,189
• Tax from tax record: −$360 /mo · $4,318/yr
• Insurance: −$174
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $-778

Break-even live

Break-even rent $3,447

Max offer price $280,145

Occupancy floor —

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: $104,375
• Closing costs: $12,525
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	23d	1	0.31mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	0.71mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	14d	1	0.85mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	23d	1	0.88mi
647 Airoso Rd SE Palm Bay, FL	4.0	3.0	2365	$2,900	$1.23	13d	1	0.95mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	19d	1	0.99mi
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	21d	1	1.03mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	14d	1	1.30mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	19d	1	1.31mi
334 Bordeaux Ave NE Palm Bay, FL	4.0	2.0	2083	$2,250	$1.08	14d	1	1.34mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	23d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $417,500 Active 40 DOM
2. 2026-06-17
   days on market $417,500 Active 39 DOM
3. 2026-06-16
   days on market $417,500 Active 38 DOM
4. 2026-06-15
   days on market $417,500 Active 37 DOM
5. 2026-06-14
   pricedays on market $417,500 Active 35 DOM
6. 2026-06-10
   days on market $420,000 Active 32 DOM
7. 2026-06-08
   days on market $420,000 Active 30 DOM
8. 2026-06-07
   days on market $420,000 Active 29 DOM
9. 2026-06-05
   days on market $420,000 Active 26 DOM
10. 2026-06-03
    days on market $420,000 Active 25 DOM
11. 2026-06-02
    days on market $420,000 Active 24 DOM
12. 2026-06-01
    days on market $420,000 Active 23 DOM
13. 2026-05-31
    days on market $420,000 Active 22 DOM
14. 2026-05-31
    days on market $420,000 Active 21 DOM
15. 2026-05-09
    listed $420,000 Active
16. 2020-11-24
    soldstatus $273,576 Closed 544-char remark

    Show marketing remark (544 chars)

    Under construction now, the Florence is a popular open concept plan plan with a Study. At the heart of the home is a beautiful kitchen with a center island and an enlarged breakfast nook The Great Room has sliding glass doors leading to the covered porch. Upgraded master bath with double sinks, and tiled shower with enclosure. Bedroom 4 has an en-suite bath. Energy efficient features, hurricane shutters and a 2-10 builder warranty make this new home the right choice! Estimated completion is October so don't wait to make this home yours!

17. 2020-08-12
    historical Contingent 544-char remark

    Show marketing remark (544 chars)

    Under construction now, the Florence is a popular open concept plan plan with a Study. At the heart of the home is a beautiful kitchen with a center island and an enlarged breakfast nook The Great Room has sliding glass doors leading to the covered porch. Upgraded master bath with double sinks, and tiled shower with enclosure. Bedroom 4 has an en-suite bath. Energy efficient features, hurricane shutters and a 2-10 builder warranty make this new home the right choice! Estimated completion is October so don't wait to make this home yours!

18. 2020-07-30
    listed $273,576 Active 544-char remark

    Show marketing remark (544 chars)

    Under construction now, the Florence is a popular open concept plan plan with a Study. At the heart of the home is a beautiful kitchen with a center island and an enlarged breakfast nook The Great Room has sliding glass doors leading to the covered porch. Upgraded master bath with double sinks, and tiled shower with enclosure. Bedroom 4 has an en-suite bath. Energy efficient features, hurricane shutters and a 2-10 builder warranty make this new home the right choice! Estimated completion is October so don't wait to make this home yours!

19. 2020-01-21
    soldstatus $100,000
20. 2018-11-11
    historical 88-char remark

    Show marketing remark (88 chars)

    Lot located in nice neighborhood in SE Palm Bay. Water and sewer available. Paved Roads.

21. 2018-04-16
    listed $29,900 88-char remark

    Show marketing remark (88 chars)

    Lot located in nice neighborhood in SE Palm Bay. Water and sewer available. Paved Roads.

22. 2008-03-26
    soldstatus $18,000
23. 2008-03-19
    soldstatus $18,000
24. 2007-03-21
    listed $29,900

ⓘ 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: $4,318 · $360/mo
• Projected year-2 tax: $4,318 · $360/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 1/10 Low
• 🌡 Heat 10/10 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: $29,554
• − Mortgage interest: −$23,386
• − Property taxes: −$4,318
• − Insurance: −$2,088
• − Repairs & maintenance: −$2,364
• − Management: −$2,364
• − Depreciation: −$12,145
• Taxable loss: −$17,112
• Est. tax savings @ 24.0%: +$4,107
• After-tax cash flow: $-5,224/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

+1304.7% since first listed

10 events — show timeline

• 2026-05-09 Listed $420,000 SCMLS
• 2020-11-24 Sold (MLS) $273,576 SCMLS
• 2020-08-12 Contingent — SCMLS
• 2020-07-30 Listed $273,576 SCMLS
• 2020-01-21 Sold (Public Records) $100,000 Public Records
• 2018-11-11 Listing Removed — SCMLS
• 2018-04-16 Listed $29,900 SCMLS
• 2008-03-26 Sold (Public Records) $18,000 Public Records
• 2008-03-19 Sold (MLS) $18,000 SCMLS
• 2007-03-21 Listed $29,900 SCMLS

Property tax history

+37.1%/yr

Latest (2025): $4,318 · +2.3% YoY. Source: county tax records.