1525 Plum Ave · Merritt Island, FL 32952

$350,000

3 bd · 2.0 ba · 1,630 sqft · SingleFamily public records · 22 Days on market

Built 1964 8,276 sqft lot ↓ 17% since listing

---

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
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home is sold AS IS. This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

Key facts

• Screened patio
• Waterfront parks
• Cozy fireplace

Tags

• ESTABLISHED NEIGHBORHOOD
• WATERFRONT PARKS
• BOAT RAMPS
• FENCED BACKYARD
• SCREENED PATIO
• COZY FIREPLACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence
• Construction: Block construction
• Exterior features: Lot includes other features; Property faces north

Interior

• Kitchen: Dishwasher, Gas Range, Microwave, Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher, Gas Range, Microwave, Refrigerator
• Laundry & utility: Unfurnished (no built-in laundry listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (11.3% below list).
• Recommended offer: $311k (11.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Audubon Elementary School (math 55% / reading 57%, grade C+, #832 of 2,144 statewide, top 40%, 450 students, 58% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 227 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 36% of the median local income ($103k/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 $2k of loan paydown is wiped out by about $10k 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 22 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,501 (11.3% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.89% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-25,597
• Equity at exit: $52,186

10-year hold

• IRR: 6.3%
• Equity multiple: 1.54×
• Total profit: $53,123
• Equity at exit: $30,262

Cash invested: $98,000 (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 32952

• Rents YoY: 6.5%
• Active inventory: 227
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,105 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$94 /mo · $1,128/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $311

Break-even live

Break-even rent $2,711

Max offer price $350,000

Occupancy floor 85%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
540 Albatross St Merritt Island, FL	4.0	2.0	1828	$3,950	$2.16	13d	1	0.25mi
1315 Lester Ct Merritt Island, FL	3.0	2.0	1462	$2,350	$1.61	23d	1	0.57mi
200 S Sykes Creek Pkwy #702 Merritt Island, FL	2.0	2.0	1307	$2,390	$1.83	23d	1	1.10mi
250 S Sykes Creek Pkwy Unit B510 Merritt Island, FL	2.0	2.0	1660	$2,600	$1.57	23d	1	1.14mi
1660 Neptune Dr Merritt Island, FL	4.0	2.0	1792	$3,200	$1.79	21d	1	1.19mi
1707 Shore Dr Merritt Island, FL	3.0	2.0	1719	$3,950	$2.30	23d	1	1.23mi
820 Del Rio Way #401 Merritt Island, FL	3.0	2.0	1862	$2,600	$1.40	23d	1	1.28mi
390 Needle Blvd Merritt Island, FL	4.0	2.0	1828	$3,450	$1.89	23d	1	1.39mi

Listing history 39 events

1. 2026-06-18
   days on market $350,000 Active 22 DOM
2. 2026-06-17
   days on market $350,000 Active 21 DOM
3. 2026-06-16
   days on market $350,000 Active 20 DOM
4. 2026-06-15
   days on market $350,000 Active 19 DOM
5. 2026-06-14
   days on market $350,000 Active 17 DOM
6. 2026-06-10
   days on market $350,000 Active 14 DOM
7. 2026-06-08
   days on market $350,000 Active 12 DOM
8. 2026-06-07
   days on market $350,000 Active 11 DOM
9. 2026-06-05
   days on market $350,000 Active 8 DOM
10. 2026-06-03
    days on market $350,000 Active 7 DOM
11. 2026-06-02
    days on market $350,000 Active 6 DOM
12. 2026-06-01
    days on market $350,000 Active 5 DOM
13. 2026-05-31
    days on market $350,000 Active 4 DOM
14. 2026-05-31
    days on market $350,000 Active 3 DOM
15. 2026-05-27
    listed $350,000 Active
16. 2025-04-14
    soldstatus $319,900
17. 2025-04-11
    soldstatus $319,900 Closed 1253-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

18. 2025-04-11
    soldstatus $319,900 Closed 1233-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

19. 2025-03-25
    status Pending 1253-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

20. 2025-03-25
    status Pending 1233-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

21. 2025-03-13
    price $319,900 1233-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

22. 2025-03-13
    listed $319,900 Active 1253-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

23. 2025-03-13
    listed $219,900 Active 1233-char remark

    Show marketing remark (1233 chars)

    This charming home offers a perfect blend of comfort and functionality. The fenced-in backyard features a screened-in patio, providing an ideal space for outdoor relaxation or entertaining in any weather. The covered front porch adds charm and curb appeal, creating a welcoming entry. Inside, the living room is bright and cozy, complete with a ceiling fan for added comfort. The open kitchen is a true highlight, featuring a gas range, newer cabinetry, and plenty of counter space for cooking and meal prep. Across from the kitchen, you'll find a separate dining area, perfect for family meals or entertaining guests. The large rear family room offers ample space for gatherings and includes a beautiful fireplace and bay windows that flood the room with natural light, creating a warm, inviting atmosphere. All three bedrooms are spacious, featuring ceiling fans for comfort and newly installed carpet that adds a fresh, modern feel. The bathrooms have been thoughtfully updated, with newer vanities and contemporary lighting fixtures, providing a stylish and functional space. This home combines both practical updates and cozy living spaces, making it a great place to call home. Book a private tour and come see this home today.

24. 2025-03-03
    soldstatus $270,000
25. 2025-01-30
    historical
26. 2025-01-22
    price $344,725
27. 2025-01-15
    status Active
28. 2025-01-12
    historical Active Under Contract
29. 2025-01-01
    status Active
30. 2024-12-31
    historical
31. 2024-12-02
    status Active
32. 2024-11-26
    price $349,725
33. 2024-11-14
    historical Active Under Contract
34. 2024-11-08
    price $362,500
35. 2024-10-29
    price $377,000
36. 2024-10-08
    price $382,000
37. 2024-09-11
    price $389,500
38. 2024-08-13
    price $394,500
39. 2024-07-25
    listed $419,500 Active

ⓘ 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: $1,128 · $94/mo
• Projected year-2 tax: $2,905 · $242/mo
• Expected delta: +$1,777/yr (+$148/mo · 157.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $37,260
• − Mortgage interest: −$19,605
• − Property taxes: −$1,128
• − Insurance: −$2,548
• − Repairs & maintenance: −$2,981
• − Management: −$2,981
• − Depreciation: −$10,182
• Taxable loss: −$2,164
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $4,254/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 21,613
• Household income: $102,726
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 199.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 4% 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: ▼ -177.56%
• Current HPI: 323.6021
• Rent YoY: ▲ 6.53%
• 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

-16.6% since first listed

25 events — show timeline

• 2026-05-27 Listed $350,000 SCMLS
• 2025-04-14 Sold (Public Records) $319,900 Public Records
• 2025-04-11 Sold (MLS) $319,900 SCMLS
• 2025-04-11 Sold (MLS) $319,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-25 Pending — SCMLS
• 2025-03-13 Price Changed $319,900 SCMLS
• 2025-03-13 Listed $219,900 SCMLS
• 2025-03-13 Listed $319,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-03 Sold (Public Records) $270,000 Public Records
• 2025-01-30 Listing Removed — SCMLS
• 2025-01-22 Price Changed $344,725 SCMLS
• 2025-01-15 Relisted — SCMLS
• 2025-01-12 Contingent — SCMLS
• 2025-01-01 Relisted — SCMLS
• 2024-12-31 Listing Removed — SCMLS
• 2024-12-02 Relisted — SCMLS
• 2024-11-26 Price Changed $349,725 SCMLS
• 2024-11-14 Contingent — SCMLS
• 2024-11-08 Price Changed $362,500 SCMLS
• 2024-10-29 Price Changed $377,000 SCMLS
• 2024-10-08 Price Changed $382,000 SCMLS
• 2024-09-11 Price Changed $389,500 SCMLS
• 2024-08-13 Price Changed $394,500 SCMLS
• 2024-07-25 Listed $419,500 SCMLS

Property tax history

+2.2%/yr

Latest (2025): $1,128 · +12.7% YoY. Source: county tax records.