1602 Cocoa Bay Blvd · Cocoa, FL 32926

$140,000

2 bd · 2.0 ba · 1,501 sqft · Manufactured public records · 42 Days on market

Built 1990 9,148 sqft lot

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Why this score? — see what drove the B- 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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious manufactured home sits on almost 1/4 acre corner lot with screened room. This 3 bedroom 2 bath homes has kitchen with breakfast bar and pantry, large living/dining combo with front and back entrance doors. Master bedroom has double door entry into bedroom and bathroom also has double door entry with garden tub/separate shower and walk in closet. Don't miss this opportunity!

Key facts

• Convenient access
• Newer metal roof
• 9,148 sq ft lot

Tags

• NEWER METAL ROOF
• CONVENIENT ACCESS
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: Association: cocoa bay phase 1; Association fee $40 quarterly

Exterior

• Parking: Other parking
• Utilities: Public sewer; Cable available and connected; Electricity available and connected; Water available and connected; Sewer available and connected
• Home design: Manufactured home; Single-family residential; Frame construction with vinyl siding
• Construction: Metal roof; Pets allowed
• Exterior features: Back yard fencing; Corner lot; Faces west

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#344 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment 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: Saturn Elementary School (math 23% / reading 29%, grade F, #2,015 of 2,144 statewide, top 94%, 643 students, 81% FRL); Cocoa High School (math 21% / reading 27%, grade F, #529 of 667 statewide, top 80%, 1,551 students, 73% FRL) — zoned schools average 77% FRL vs 43% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 55% district-wide (-30 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 fast (+5.6%/yr); 291 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; 25% 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; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.63%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.32×
• Total profit: $12,456
• Equity at exit: $20,874

10-year hold

• IRR: 19.2%
• Equity multiple: 2.80×
• Total profit: $70,377
• Equity at exit: $12,105

Cash invested: $39,200 (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 32926

• Home prices YoY: -16.9%
• Rents YoY: 5.6%
• Active inventory: 291
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,753 high
• Mortgage (P&I): −$734
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $478

Break-even live

Break-even rent $1,148

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1660 Rosetine St Unit 1 Cocoa, FL	2.0	2.0	1200	$1,645	$1.37	18d	1	0.95mi
4300 Florida 524 Cocoa, FL	1.0–2.0	1.0–2.0	950	$1,880	$1.98	13d	197	1.02mi
2392 Mars Ct Unit 2392 Cocoa, FL	2.0	1.5	1628	$1,295	$0.80	23d	1	1.10mi
3070 Cirrus Dr Cocoa, FL	3.0	1.0–2.0	1002	$2,326	$2.32	13d	29	1.11mi
4164 Fishermans Pl Cocoa, FL	2.0	2.0	1200	$1,625	$1.35	23d	1	1.21mi
3028 Winchester Dr Cocoa, FL	3.0	2.0	1125	$1,915	$1.70	21d	1	1.21mi
1514 Clearlake Rd #110 Cocoa, FL	2.0	2.0	1070	$1,295	$1.21	23d	1	1.32mi

Listing history 25 events

1. 2026-06-18
   days on market $140,000 Active 42 DOM
2. 2026-06-17
   days on market $140,000 Active 41 DOM
3. 2026-06-16
   days on market $140,000 Active 40 DOM
4. 2026-06-15
   days on market $140,000 Active 39 DOM
5. 2026-06-14
   days on market $140,000 Active 37 DOM
6. 2026-06-10
   days on market $140,000 Active 34 DOM
7. 2026-06-09
   remarks 316-char remark
8. 2026-06-08
   days on market $140,000 Active 32 DOM
9. 2026-06-07
   pricestatusdays on market $140,000 Active 31 DOM
10. 2026-05-01
    listed $149,000 Active
11. 2021-10-15
    soldstatus $112,000 Closed 390-char remark

    Show marketing remark (390 chars)

    This spacious manufactured home sits on almost 1/4 acre corner lot with screened room. This 3 bedroom 2 bath homes has kitchen with breakfast bar and pantry, large living/dining combo with front and back entrance doors. Master bedroom has double door entry into bedroom and bathroom also has double door entry with garden tub/separate shower and walk in closet. Don't miss this opportunity!

12. 2021-09-19
    historical Contingent 390-char remark

    Show marketing remark (390 chars)

    This spacious manufactured home sits on almost 1/4 acre corner lot with screened room. This 3 bedroom 2 bath homes has kitchen with breakfast bar and pantry, large living/dining combo with front and back entrance doors. Master bedroom has double door entry into bedroom and bathroom also has double door entry with garden tub/separate shower and walk in closet. Don't miss this opportunity!

13. 2021-09-17
    listed $109,900 Active 390-char remark

    Show marketing remark (390 chars)

    This spacious manufactured home sits on almost 1/4 acre corner lot with screened room. This 3 bedroom 2 bath homes has kitchen with breakfast bar and pantry, large living/dining combo with front and back entrance doors. Master bedroom has double door entry into bedroom and bathroom also has double door entry with garden tub/separate shower and walk in closet. Don't miss this opportunity!

14. 2016-08-16
    historical 357-char remark

    Show marketing remark (357 chars)

    Open and spacious home, split plan, breakfest nook. Living/dining area, screened in porch, backyard patio, attached shed. Vaulted ceilings, separate laundry room. Master Bedroom has enough room for a King Size bed. Fenced in back yard. '||chr(10)||'Addendum - Short Sale subject to 3rd party approval. FAR?BAR AS Is contract only. HOA docs will be supplied.

15. 2016-08-16
    historical

    Show marketing remark (357 chars)

    Open and spacious home, split plan, breakfest nook. Living/dining area, screened in porch, backyard patio, attached shed. Vaulted ceilings, separate laundry room. Master Bedroom has enough room for a King Size bed. Fenced in back yard. '||chr(10)||'Addendum - Short Sale subject to 3rd party approval. FAR?BAR AS Is contract only. HOA docs will be supplied.

16. 2010-02-10
    listed $35,000
17. 2010-02-02
    listed $68,000 357-char remark

    Show marketing remark (357 chars)

    Open and spacious home, split plan, breakfest nook. Living/dining area, screened in porch, backyard patio, attached shed. Vaulted ceilings, separate laundry room. Master Bedroom has enough room for a King Size bed. Fenced in back yard. '||chr(10)||'Addendum - Short Sale subject to 3rd party approval. FAR?BAR AS Is contract only. HOA docs will be supplied.

18. 2007-08-27
    historical
19. 2007-06-13
    listed $128,900
20. 2005-04-29
    soldstatus $122,500
21. 2005-04-28
    soldstatus $122,500
22. 2005-03-29
    listed $129,900
23. 1990-07-01
    soldstatus $14,500
24. 1990-05-01
    soldstatus $340,800
25. 1987-03-01
    soldstatus $896,800

ⓘ 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: $1,375 · $115/mo
• Projected year-2 tax: $1,375 · $115/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 6/10 Major
• 🌡 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: $21,041
• − Mortgage interest: −$7,842
• − Property taxes: −$1,375
• − Insurance: −$700
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$4,073
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,852/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 — Cocoa

• Score: 72/100
• State rank: #344
• US rank: #5979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cocoa, FL
• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 23,505
• Household income: $70,735
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 782.0

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% Black 11% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% German/W. Germanic 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: ▼ -68.32%
• Current HPI: 335.1251
• Rent YoY: ▲ 5.60%
• 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

-83.4% since first listed

16 events — show timeline

• 2026-05-01 Listed $149,000 SCMLS
• 2021-10-15 Sold (MLS) $112,000 SCMLS
• 2021-09-19 Contingent — SCMLS
• 2021-09-17 Listed $109,900 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2010-02-10 Listed $35,000 SCMLS
• 2010-02-02 Listed $68,000 SCMLS
• 2007-08-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-06-13 Listed $128,900 Stellar MLS as Distributed by MLS Grid
• 2005-04-29 Sold (Public Records) $122,500 Public Records
• 2005-04-28 Sold (MLS) $122,500 SCMLS
• 2005-03-29 Listed $129,900 SCMLS
• 1990-07-01 Sold (Public Records) $14,500 Public Records
• 1990-05-01 Sold (Public Records) $340,800 Public Records
• 1987-03-01 Sold (Public Records) $896,800 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,375 · +3.4% YoY. Source: county tax records.