660 Fernandina St NW · Palm Bay, FL 32907

$199,000

3 bd · 2.0 ba · 1,025 sqft · SingleFamily public records · 25 Days on market

Built 1982 10,019 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
• 1% rule +5.1/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Excellent investment opportunity in rapidly growing Palm Bay! This oversized residential lot located at 660 Fernandina St NW offers the perfect opportunity for investors, or future homeowners looking to secure land in one of the fastest-developing areas of Brevard County. Conveniently located near shopping, schools, parks, restaurants, and major roadways, with easy access to I-95 and the beaches. New construction is booming throughout the area, making this a prime location for future appreciation. No HOA. Whether you're planning to build now or hold for future value, this property presents outstanding potential in a high-demand market. Don’t mis

Key facts

• Easy access to i95
• Prime location
• No hoa

Tags

• OVERSIZED RESIDENTIAL LOT
• PRIME LOCATION
• EASY ACCESS TO I95
• NO HOA

Property features AI

Finance

• Other: Homestead exempt; Zoning: RS2
• HOA & community: Senior community

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected; Water connected
• Home design: Single-family residence; 1 story; North-facing; Entry level: One
• Construction: Stucco and frame construction; Shingle roof; Slab foundation; Built using conventional materials
• Exterior features: Front porch; Patio; Private mailbox; Storage; Paved lot; Fruit trees

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry in garage; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.

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: schools C-, employment 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.
• Market conditions: Rents flat; 739 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 32% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $6k 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 25 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $199k implies a 249% 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 $196,015 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.60×
• Total profit: $-22,561
• Equity at exit: $29,672

10-year hold

• IRR: -5.5%
• Equity multiple: 0.68×
• Total profit: $-17,978
• Equity at exit: $17,206

Cash invested: $55,720 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 739
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,014 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $216

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 84%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
874 Altona St NW Palm Bay, FL	3.0	2.0	1488	$1,955	$1.31	23d	1	0.45mi
890 Serenade St NW Palm Bay, FL	3.0	2.0	901	$1,850	$2.05	23d	1	0.50mi
1374 Jupiter Blvd NW Palm Bay, FL	3.0	2.0	1500	$1,895	$1.26	23d	1	0.63mi
496 Iroquois Ave NW Palm Bay, FL	3.0	2.0	1128	$1,950	$1.73	23d	1	1.02mi
154 Daffodil Dr SW Palm Bay, FL	3.0–4.0	2.0–3.0	1384	$1,649	$1.19	14d	6	1.11mi
124 Evergreen St NE Palm Bay, FL	3.0	2.0	1283	$1,855	$1.45	23d	1	1.12mi
1147 Jericho Ave NW Palm Bay, FL	3.0	2.0	1352	$1,700	$1.26	23d	1	1.22mi
751 Winchell St SW Palm Bay, FL	3.0	2.0	1160	$1,960	$1.69	19d	1	1.33mi
916 Spring St NW Palm Bay, FL	3.0	2.0	1494	$1,800	$1.20	23d	1	1.39mi
347 Americana Blvd NE Palm Bay, FL	3.0	2.0	1372	$1,900	$1.38	14d	1	1.43mi
271 Wendover Rd SW Palm Bay, FL	3.0	2.0	1425	$1,900	$1.33	23d	1	1.48mi
1388 Hazel St NW Palm Bay, FL	3.0	2.0	1475	$1,894	$1.28	14d	1	1.50mi

Listing history 7 events

1. 2026-06-03
   status $199,000 Pending 25 DOM
2. 2026-06-02
   days on market $199,000 Active 25 DOM
3. 2026-06-01
   days on market $199,000 Active 24 DOM
4. 2026-05-31
   days on market $199,000 Active 23 DOM
5. 2026-05-31
   days on market $199,000 Active 22 DOM
6. 2026-05-08
   listed $199,000 Active
7. 2001-10-30
   soldstatus $57,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $24,173
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$5,789
• Taxable loss: −$611
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $2,740/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

+249.1% since first listed

2 events — show timeline

• 2026-05-08 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2001-10-30 Sold (Public Records) $57,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $351 · +5.7% YoY. Source: county tax records.