1032 Welco St SE · Palm Bay, FL 32909

$355,000

4 bd · 2.0 ba · 1,620 sqft · Land · 174 Days on market

Built 2026 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 +5.9/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0

Listing remarks MLS

COMING SOON, NEW CONSTRUCTION * * Photos are from a spec house that is completed * * Step into the spacious open living room with vaulted ceilings and split bedroom floor plan with a bonus room to be used as a den, dining room, guest bedroom. The custom trim and high-end finishes will impress any buyer. You will not find this level of quality at this price. Beautiful counter tops, upgraded bathrooms, upgraded base board and trim, custom lighting, upgraded LG stainless steel appliances, spacious laundry room, two car garage with off street parking. Bring your first time home buyer or this home would make a beautiful rental for any investor. Rock solid concrete block construction making this home stand out for a hassle free rental. New construction will get your client a better insurance rate. 10 year structural and 2 year systems warranty available. Fantastic location near schools, shopping and restaurants.

Key facts

• Quartz countertops
• Storm protection
• Vaulted ceilings

Tags

• OPEN-CONCEPT LIVING AREA
• VAULTED CEILINGS
• QUARTZ COUNTERTOPS
• TOP-OF-THE-LINE CABINETRY
• IMPACT WINDOWS
• STORM PROTECTION

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Aerobic septic system; Cable available; Electricity connected
• Home design: Single family residence
• Construction: Block and concrete construction
• Exterior features: Property faces northwest; Few trees on the lot; New construction

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $355k.

Deal economics

• At list price, monthly cash flow is $-753 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (37.0% below list).
• Recommended offer: $224k (37.0% 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); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 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; 26 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 $38k of equity ($2k loan paydown + $36k 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 ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• 4 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 $24k; list at $355k implies a 1385% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,582 (37.0% 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 174 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.63% ✗
• Cap rate: 3.97%
• Cash-on-cash: -8.29%
• DSCR: 0.63
• GRM: 13.2

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: 18.1%
• Equity multiple: 2.48×
• Total profit: $146,944
• Equity at exit: $319,812

10-year hold

• IRR: 17.0%
• Equity multiple: 5.77×
• Total profit: $473,778
• Equity at exit: $689,687

Cash invested: $99,400 (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: 13.2×

Monthly cashflow live

• Estimated rent: $2,236 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-753

Break-even live

Break-even rent $3,190

Max offer price $245,969

Occupancy floor —

Sensitivity live

Price	-10% $-508	-5% $-631	+0% $-753	+5% $-876	+10% $-999
Rent	-10% $-930	-5% $-842	+0% $-753	+5% $-665	+10% $-577
Rate	-1.0pp $-575	-0.5pp $-663	base $-753	+0.5pp $-845	+1.0pp $-939

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	24d	1	0.29mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	24d	1	0.52mi
1165 Rabbit St SE Palm Bay, FL	3.0	2.0	1994	$1,895	$0.95	19d	1	0.73mi
1454 Graves St SE Palm Bay, FL	3.0	2.0	1621	$2,100	$1.30	14d	1	0.78mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	24d	1	0.79mi
1150 Tiger St SE Palm Bay, FL	3.0	2.0	1690	$1,950	$1.15	14d	1	0.82mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	24d	1	0.88mi
830 Painesville St SE Palm Bay, FL	3.0	2.0	2029	$2,220	$1.09	14d	1	0.96mi
1406 Martinez St SE Palm Bay, FL	4.0	2.0	2083	$2,100	$1.01	24d	1	0.98mi
1416 Martinez St SE Palm Bay, FL	3.0	2.0	1747	$2,000	$1.14	14d	1	0.99mi
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	24d	1	1.10mi
1150 Raoul St SE Palm Bay, FL	4.0	2.0	1787	$2,300	$1.29	24d	1	1.10mi
1660 Lizette St SE Unit 1 Palm Bay, FL	4.0	2.0	1736	$2,199	$1.27	24d	1	1.14mi
1677 Lizette St SE Unit A Palm Bay, FL	3.0	2.0	2080	$1,900	$0.91	14d	1	1.14mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	21d	1	1.19mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	14d	1	1.19mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	14d	1	1.20mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	1.24mi
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	21d	1	1.24mi
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	14d	1	1.26mi
1625 Waneta St SE Palm Bay, FL	3.0	2.0	1631	$2,100	$1.29	19d	1	1.28mi
1530 Paley Cir SE Palm Bay, FL	4.0	2.0	1842	$2,095	$1.14	14d	1	1.35mi
402 Breckenridge Cir SE Palm Bay, FL	3.0	2.0	1960	$2,200	$1.12	24d	1	1.39mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	24d	1	1.47mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	24d	1	1.48mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	24d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $355,000 Active 174 DOM
2. 2026-06-17
   days on market $355,000 Active 173 DOM
3. 2026-06-16
   days on market $355,000 Active 172 DOM
4. 2026-06-15
   days on market $355,000 Active 171 DOM
5. 2026-06-14
   days on market $355,000 Active 169 DOM
6. 2026-06-10
   days on market $355,000 Active 166 DOM
7. 2026-06-08
   days on market $355,000 Active 164 DOM
8. 2026-06-07
   days on market $355,000 Active 163 DOM
9. 2026-06-05
   days on market $355,000 Active 160 DOM
10. 2026-06-03
    days on market $355,000 Active 159 DOM
11. 2026-06-02
    days on market $355,000 Active 158 DOM
12. 2026-06-01
    days on market $355,000 Active 157 DOM
13. 2026-05-31
    days on market $355,000 Active 156 DOM
14. 2026-05-31
    days on market $355,000 Active 155 DOM
15. 2025-12-15
    listed $355,000 Active
16. 2025-04-25
    historical 924-char remark

    Show marketing remark (924 chars)

    COMING SOON, NEW CONSTRUCTION * * Photos are from a spec house that is completed * * Step into the spacious open living room with vaulted ceilings and split bedroom floor plan with a bonus room to be used as a den, dining room, guest bedroom. The custom trim and high-end finishes will impress any buyer. You will not find this level of quality at this price. Beautiful counter tops, upgraded bathrooms, upgraded base board and trim, custom lighting, upgraded LG stainless steel appliances, spacious laundry room, two car garage with off street parking. Bring your first time home buyer or this home would make a beautiful rental for any investor. Rock solid concrete block construction making this home stand out for a hassle free rental. New construction will get your client a better insurance rate. 10 year structural and 2 year systems warranty available. Fantastic location near schools, shopping and restaurants.

17. 2024-11-13
    listed $375,000 Active 924-char remark

    Show marketing remark (924 chars)

    COMING SOON, NEW CONSTRUCTION * * Photos are from a spec house that is completed * * Step into the spacious open living room with vaulted ceilings and split bedroom floor plan with a bonus room to be used as a den, dining room, guest bedroom. The custom trim and high-end finishes will impress any buyer. You will not find this level of quality at this price. Beautiful counter tops, upgraded bathrooms, upgraded base board and trim, custom lighting, upgraded LG stainless steel appliances, spacious laundry room, two car garage with off street parking. Bring your first time home buyer or this home would make a beautiful rental for any investor. Rock solid concrete block construction making this home stand out for a hassle free rental. New construction will get your client a better insurance rate. 10 year structural and 2 year systems warranty available. Fantastic location near schools, shopping and restaurants.

18. 2021-06-04
    soldstatus $23,900 Closed 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

19. 2021-05-19
    status Pending 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

20. 2021-04-19
    price $23,900 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

21. 2021-04-19
    status Active 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

22. 2021-04-14
    historical 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

23. 2021-04-13
    listed $21,900 Active 211-char remark

    Show marketing remark (211 chars)

    From Emerson DR SE & Malabar RD SE, Start Going South On Emerson DR SE Toward Walden Blvd SE Then TR On Wyoming DR SE Then Go To Raintree Ave SE TL Then To Welco St. SE TL & Property Is On The Right!

24. 1976-05-01
    soldstatus $5,800

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 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: $26,830
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$2,572
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − Depreciation: −$10,327
• Taxable loss: −$15,573
• Est. tax savings @ 24.0%: +$3,738
• After-tax cash flow: $-5,304/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

+6020.7% since first listed

10 events — show timeline

• 2025-12-15 Listed $355,000 SCMLS
• 2025-04-25 Listing Removed — SCMLS
• 2024-11-13 Listed $375,000 SCMLS
• 2021-06-04 Sold (MLS) $23,900 SCMLS
• 2021-05-19 Pending — SCMLS
• 2021-04-19 Price Changed $23,900 SCMLS
• 2021-04-19 Relisted — SCMLS
• 2021-04-14 Listing Removed — SCMLS
• 2021-04-13 Listed $21,900 SCMLS
• 1976-05-01 Sold (Public Records) $5,800 Public Records

Property tax history

+16.8%/yr

Latest (2025): $565 · +8.8% YoY. Source: county tax records.