311 San Filippo Dr · Palm Bay, FL 32909

$349,000

3 bd · 2.0 ba · 1,487 sqft · SingleFamily public records · 32 Days on market

Built 1989 0.26 ac 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 +6.3/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.6/10.0

Listing remarks MLS

Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

Key facts

• Remodeled
• Luxury finishes
• Large backyard

Tags

• REMODELED
• CORNER-LOT
• MODERN OPEN LAYOUT
• LUXURY FINISHES
• OVERSIZED DRIVEWAY
• LARGE BACKYARD

Property features AI

Finance

• Other: Pets allowed (no pet restrictions)
• HOA & community: Laundry facilities in community

Exterior

• Parking: Attached 2-car garage; Driveway
• Utilities: Public water; Septic tank sewer
• Home design: Single-story; Faces southeast; Updated/remodeled
• Construction: Built with block and shingle siding; Shingle roof; Resale property
• Exterior features: Patio; Apartment (additional structure)

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Studio
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Ceramic tile floors
• Laundry & utility: Washer; Dryer; On-site laundry facilities (community)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-620 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (31.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (40.3% below list).
• Recommended offer: $208k (40.3% 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: 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 rising (+3.7%/yr); 1111 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% 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 $37k of equity ($2k loan paydown + $35k 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 ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: 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 $208,190 (40.3% 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 32 days. Have you received any prior offers? Is the seller open to a 40% 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: 0.60% ✗
• Cap rate: 4.16%
• Cash-on-cash: -7.62%
• DSCR: 0.66
• GRM: 14.0

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: 19.1%
• Equity multiple: 2.55×
• Total profit: $151,924
• Equity at exit: $314,407

10-year hold

• IRR: 17.7%
• Equity multiple: 5.93×
• Total profit: $481,286
• Equity at exit: $678,030

Cash invested: $97,720 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$289 /mo · $3,472/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-620

Break-even live

Break-even rent $2,867

Max offer price $239,428

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	21d	1	0.24mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	23d	1	0.24mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	14d	1	0.25mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	18d	1	0.30mi
721 Taluga Ave SE Palm Bay, FL	3.0	2.0	1556	$1,800	$1.16	23d	1	0.40mi
1210 Vandalia Ave SE Palm Bay, FL	4.0	2.0	1833	$2,050	$1.12	14d	1	0.44mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	14d	8	0.52mi
1630 Agnes Ave SE Palm Bay, FL	3.0	2.0	924	$1,749	$1.89	18d	1	0.66mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	14d	1	0.73mi
1643 Talavera St SE Palm Bay, FL	4.0	2.0	1833	$1,861	$1.02	18d	1	0.73mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	14d	30	0.95mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	23d	1	0.96mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	23d	1	0.99mi
1490 Van Buren Ave SE Palm Bay, FL	2.0	1.0	900	$1,600	$1.78	23d	1	1.03mi
1150 Raoul St SE Palm Bay, FL	4.0	2.0	1787	$2,300	$1.29	23d	1	1.08mi
1530 Paley Cir SE Palm Bay, FL	4.0	2.0	1842	$2,095	$1.14	14d	1	1.13mi
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	23d	1	1.13mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	23d	1	1.14mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	23d	1	1.19mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	23d	1	1.21mi
1430 Valerius St SE Palm Bay, FL	2.0	1.0	904	$1,750	$1.94	23d	1	1.23mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	23d	1	1.25mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	23d	1	1.32mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	23d	1	1.33mi
484 Mercury Ave SE Palm Bay, FL	2.0	1.0	1000	$1,542	$1.54	18d	4	1.35mi
1150 Tiger St SE Palm Bay, FL	3.0	2.0	1690	$1,950	$1.15	14d	1	1.39mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	14d	1	1.39mi
1625 Waneta St SE Palm Bay, FL	3.0	2.0	1631	$2,100	$1.29	18d	1	1.40mi
440 Mercury Ave SE Apt E Palm Bay, FL	2.0	1.0	900	$1,250	$1.39	21d	1	1.41mi

Listing history 25 events

1. 2026-06-18
   days on market $349,000 Active 32 DOM
2. 2026-06-17
   days on market $349,000 Active 31 DOM
3. 2026-06-16
   days on market $349,000 Active 30 DOM
4. 2026-06-15
   days on market $349,000 Active 29 DOM
5. 2026-06-14
   days on market $349,000 Active 27 DOM
6. 2026-06-10
   days on market $349,000 Active 24 DOM
7. 2026-06-08
   days on market $349,000 Active 22 DOM
8. 2026-06-07
   days on market $349,000 Active 21 DOM
9. 2026-06-05
   days on market $349,000 Active 18 DOM
10. 2026-06-03
    days on market $349,000 Active 17 DOM
11. 2026-06-02
    days on market $349,000 Active 16 DOM
12. 2026-06-01
    days on market $349,000 Active 15 DOM
13. 2026-05-31
    days on market $349,000 Active 14 DOM
14. 2026-05-31
    days on market $349,000 Active 13 DOM
15. 2026-05-17
    listed $349,000 Active
16. 2023-08-28
    soldstatus $310,000 Closed 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

17. 2023-07-19
    historical Backups 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

18. 2023-07-05
    price $309,500 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

19. 2023-06-02
    price $311,900 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

20. 2023-03-06
    listed $319,900 Active 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

21. 2023-03-01
    historical $319,900 736-char remark

    Show marketing remark (736 chars)

    Priced to Sell! Remodeled 3 bed 2 bath home with just under 1600 sf of living space. Tile flooring throughout the entire home. The kitchen has been updated including quartz counter tops, soft close shaker cabinets and stainless steel appliances. Large master bedroom. Master bathroom complete with a glass enclosed walk-in shower fully tiled with stone flooring. Quartz vanity in master bath as well with double sinks. Bonus room that connects with the master bedroom could be a sitting room or office. Split bedroom floor plan. Updated guest bath with quartz vanity. Spacious guest bedrooms. Enclosed Florida room. Plenty of room in the backyard for a pool. Corner Lot! Located just a short drive from Eastern Florida State College

22. 2022-12-10
    listed $323,900 Active 658-char remark

    Show marketing remark (658 chars)

    Beautifully renovated home on corner property. Contemporary features throughout include: modern porcelain ceramic tile, updated lighting, all new shaker cabinets, quartz countertops, and stainless-steel appliances. Primary bathroom completely remodeled and updated, with double sinks, quartz vanity, recessed lighting, and stunning glass shower. Bonus room, that can be used as a remote office, off primary bedroom with easy entry to sunlit filled Florida room. All in addition to a separate laundry and mudroom with 2 car garage. Convenient location to shops and restaurants, minutes away from Eastern Florida State College campus, with easy access to I-95.

23. 2022-12-10
    historical 658-char remark

    Show marketing remark (658 chars)

    Beautifully renovated home on corner property. Contemporary features throughout include: modern porcelain ceramic tile, updated lighting, all new shaker cabinets, quartz countertops, and stainless-steel appliances. Primary bathroom completely remodeled and updated, with double sinks, quartz vanity, recessed lighting, and stunning glass shower. Bonus room, that can be used as a remote office, off primary bedroom with easy entry to sunlit filled Florida room. All in addition to a separate laundry and mudroom with 2 car garage. Convenient location to shops and restaurants, minutes away from Eastern Florida State College campus, with easy access to I-95.

24. 2022-11-22
    historical $323,900 658-char remark

    Show marketing remark (658 chars)

    Beautifully renovated home on corner property. Contemporary features throughout include: modern porcelain ceramic tile, updated lighting, all new shaker cabinets, quartz countertops, and stainless-steel appliances. Primary bathroom completely remodeled and updated, with double sinks, quartz vanity, recessed lighting, and stunning glass shower. Bonus room, that can be used as a remote office, off primary bedroom with easy entry to sunlit filled Florida room. All in addition to a separate laundry and mudroom with 2 car garage. Convenient location to shops and restaurants, minutes away from Eastern Florida State College campus, with easy access to I-95.

25. 1993-04-16
    soldstatus $1,166

ⓘ 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: $3,472 · $289/mo
• Projected year-2 tax: $3,472 · $289/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 3/10 Moderate
• 🌡 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: $24,983
• − Mortgage interest: −$19,549
• − Property taxes: −$3,472
• − Insurance: −$1,745
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$10,153
• Taxable loss: −$13,934
• Est. tax savings @ 24.0%: +$3,344
• After-tax cash flow: $-4,099/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

+29831.4% since first listed

11 events — show timeline

• 2026-05-17 Listed $349,000 MARMLS
• 2023-08-28 Sold (MLS) $310,000 SCMLS
• 2023-07-19 Contingent — SCMLS
• 2023-07-05 Price Changed $309,500 SCMLS
• 2023-06-02 Price Changed $311,900 SCMLS
• 2023-03-06 Listed $319,900 SCMLS
• 2023-03-01 Coming Soon $319,900 SCMLS
• 2022-12-10 Listed $323,900 SCMLS
• 2022-12-10 Listing Removed — SCMLS
• 2022-11-22 Coming Soon $323,900 SCMLS
• 1993-04-16 Sold (Public Records) $1,166 Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,472 · -10.3% YoY. Source: county tax records.