325 Tangle Run Blvd #1113 · Merritt Island, FL 32940

$174,900

2 bd · 2.0 ba · 1,478 sqft · Condo public records · 121 Days on market

Built 1981 $546/mo HOA · 26% of rent

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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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• DSCR +3.9/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-maintained 2-bedroom, 2-bath first-floor condo located in the desirable Tanglewood subdivision, offering 1,478 square feet of comfortable living space. This home has been freshly painted and is move-in ready. There are virtually staged photos showing how lovely the home would function with the homeowner's personal touches. The beautiful kitchen features a gorgeous backsplash, maple cabinets, raised snack bar, tile flooring, closet pantry, and newer appliances, including dishwasher, range, and refrigerator. A new and convenient stackable washer and dryer are also included. The spacious dining area boast tile flooring, the family showcases ceramic wood-look tile and opens to a private patio through sliding glass doors, perfect for relaxing or entertaining. The primary suite includes a well-designed closet equipped with custom shelving and clothing bars for optimal organization. Included is a storge unit on the second floor to conveniently hold holiday decorations, seasonal items, et covering water, sewer, trash, pest control, property insurance, exterior maintenance, exterior painting, and roof, allowing for low-maintenance living. Enjoy comfort, convenience, and carefree living in this beautifully maintained Tanglewood condo.

Key facts

• Raised snack bar
• First-floor condo
• Gorgeous backsplash

Tags

• FIRST-FLOOR CONDO
• GORGEOUS BACKSPLASH
• MAPLE CABINETS
• RAISED SNACK BAR
• TILE FLOORING
• CLOSET PANTRY

Property features AI

Finance

• Other:
• Financial info: Total monthly fees reported: $546.42; Total annual fees reported: $6,557; No lease restrictions indicated
• HOA & community: Monthly condo fee: $525; Association fees include cable TV, common area taxes, structure and grounds maintenance, pest control, trash, and water; Association fee 2 (annual): $257; Association fee frequency: Monthly (with an additional annual fee); Has HOA (Sentry Management / Lynn Slater; Suntree Master Homeowners Associations, Inc.); Pets allowed with possible breed restrictions; cats and dogs OK; Community features include street lights

Exterior

• Parking:
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable available and connected
• Home design: Residential condominium; Three or more levels in the building; Faces east; First-floor unit
• Construction: Block and stucco construction; Other-type roof; Slab foundation; Built on a 0.06-acre lot
• Exterior features: Patio; Sliding doors; Wood fencing; Paved lot; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Split bedroom layout; Thermostat; Walk-in closet(s); Wet bar; Window treatments; Blinds
• Laundry & utility: Washer and dryer included; Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-9 ($-102/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (0.9% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising (+2.0%/yr); 583 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); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $705 appreciation (0.4% local appreciation)).
• 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 121 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $153,912 (12.0% 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 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.91×
• Total profit: $-4,197
• Equity at exit: $54,340

10-year hold

• IRR: 2.8%
• Equity multiple: 1.30×
• Total profit: $14,895
• Equity at exit: $68,228

Cash invested: $48,972 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 583
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,134 high
• Mortgage (P&I): −$917
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$73
• HOA: −$546
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-9

Break-even live

Break-even rent $2,145

Max offer price $173,395

Occupancy floor 95%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Country Club Dr Melbourne, FL	3.0	2.0	1749	$2,295	$1.31	21d	1	0.45mi
2705 Bosque Cir Melbourne, FL	1.0–3.0	1.0–2.0	1044	$1,998	$1.91	14d	18	0.77mi
2745 Bosque Cir Unit 307 Melbourne, FL	3.0	2.0	1305	$2,245	$1.72	23d	1	0.81mi
2750 Bosque Cir Unit 304 Melbourne, FL	2.0	2.0	1046	$1,825	$1.74	23d	1	0.87mi
2760 Bosque Cir Unit 307 Melbourne, FL	3.0	2.0	1305	$2,225	$1.70	23d	1	0.91mi
201 Plantation Club Dr Melbourne, FL	1.0–2.0	1.0–2.0	1025	$1,870	$1.82	13d	10	1.13mi
7667 N Wickham Rd Melbourne, FL	1.0–2.0	1.0–2.0	915	$1,750	$1.91	14d	2	1.26mi
640 Casa Grande Dr Melbourne, FL	3.0	2.0	1160	$2,200	$1.90	23d	1	1.28mi

HOA detail condo

• Monthly dues: $546 · $6,552/yr
• Likely covers: watersewertrashexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $174,900 Active 121 DOM
2. 2026-06-17
   days on market $174,900 Active 120 DOM
3. 2026-06-16
   days on market $174,900 Active 119 DOM
4. 2026-06-15
   days on market $174,900 Active 118 DOM
5. 2026-06-14
   days on market $174,900 Active 116 DOM
6. 2026-06-10
   days on market $174,900 Active 113 DOM
7. 2026-06-08
   days on market $174,900 Active 111 DOM
8. 2026-06-07
   days on market $174,900 Active 110 DOM
9. 2026-06-05
   days on market $174,900 Active 107 DOM
10. 2026-06-03
    days on market $174,900 Active 106 DOM
11. 2026-06-02
    days on market $174,900 Active 105 DOM
12. 2026-06-01
    days on market $174,900 Active 104 DOM
13. 2026-05-31
    days on market $174,900 Active 103 DOM
14. 2026-05-31
    pricedays on market $174,900 Active 102 DOM
15. 2026-03-09
    price $179,999 1249-char remark

    Show marketing remark (1249 chars)

    Well-maintained 2-bedroom, 2-bath first-floor condo located in the desirable Tanglewood subdivision, offering 1,478 square feet of comfortable living space. This home has been freshly painted and is move-in ready. There are virtually staged photos showing how lovely the home would function with the homeowner's personal touches. The beautiful kitchen features a gorgeous backsplash, maple cabinets, raised snack bar, tile flooring, closet pantry, and newer appliances, including dishwasher, range, and refrigerator. A new and convenient stackable washer and dryer are also included. The spacious dining area boast tile flooring, the family showcases ceramic wood-look tile and opens to a private patio through sliding glass doors, perfect for relaxing or entertaining. The primary suite includes a well-designed closet equipped with custom shelving and clothing bars for optimal organization. Included is a storge unit on the second floor to conveniently hold holiday decorations, seasonal items, et covering water, sewer, trash, pest control, property insurance, exterior maintenance, exterior painting, and roof, allowing for low-maintenance living. Enjoy comfort, convenience, and carefree living in this beautifully maintained Tanglewood condo.

16. 2026-03-09
    price $179,999

    Show marketing remark (1249 chars)

    Well-maintained 2-bedroom, 2-bath first-floor condo located in the desirable Tanglewood subdivision, offering 1,478 square feet of comfortable living space. This home has been freshly painted and is move-in ready. There are virtually staged photos showing how lovely the home would function with the homeowner's personal touches. The beautiful kitchen features a gorgeous backsplash, maple cabinets, raised snack bar, tile flooring, closet pantry, and newer appliances, including dishwasher, range, and refrigerator. A new and convenient stackable washer and dryer are also included. The spacious dining area boast tile flooring, the family showcases ceramic wood-look tile and opens to a private patio through sliding glass doors, perfect for relaxing or entertaining. The primary suite includes a well-designed closet equipped with custom shelving and clothing bars for optimal organization. Included is a storge unit on the second floor to conveniently hold holiday decorations, seasonal items, et covering water, sewer, trash, pest control, property insurance, exterior maintenance, exterior painting, and roof, allowing for low-maintenance living. Enjoy comfort, convenience, and carefree living in this beautifully maintained Tanglewood condo.

17. 2026-02-17
    listed $189,900 Active 1249-char remark

    Show marketing remark (1249 chars)

    Well-maintained 2-bedroom, 2-bath first-floor condo located in the desirable Tanglewood subdivision, offering 1,478 square feet of comfortable living space. This home has been freshly painted and is move-in ready. There are virtually staged photos showing how lovely the home would function with the homeowner's personal touches. The beautiful kitchen features a gorgeous backsplash, maple cabinets, raised snack bar, tile flooring, closet pantry, and newer appliances, including dishwasher, range, and refrigerator. A new and convenient stackable washer and dryer are also included. The spacious dining area boast tile flooring, the family showcases ceramic wood-look tile and opens to a private patio through sliding glass doors, perfect for relaxing or entertaining. The primary suite includes a well-designed closet equipped with custom shelving and clothing bars for optimal organization. Included is a storge unit on the second floor to conveniently hold holiday decorations, seasonal items, et covering water, sewer, trash, pest control, property insurance, exterior maintenance, exterior painting, and roof, allowing for low-maintenance living. Enjoy comfort, convenience, and carefree living in this beautifully maintained Tanglewood condo.

18. 2026-02-17
    listed $189,900 Active

    Show marketing remark (1249 chars)

    Well-maintained 2-bedroom, 2-bath first-floor condo located in the desirable Tanglewood subdivision, offering 1,478 square feet of comfortable living space. This home has been freshly painted and is move-in ready. There are virtually staged photos showing how lovely the home would function with the homeowner's personal touches. The beautiful kitchen features a gorgeous backsplash, maple cabinets, raised snack bar, tile flooring, closet pantry, and newer appliances, including dishwasher, range, and refrigerator. A new and convenient stackable washer and dryer are also included. The spacious dining area boast tile flooring, the family showcases ceramic wood-look tile and opens to a private patio through sliding glass doors, perfect for relaxing or entertaining. The primary suite includes a well-designed closet equipped with custom shelving and clothing bars for optimal organization. Included is a storge unit on the second floor to conveniently hold holiday decorations, seasonal items, et covering water, sewer, trash, pest control, property insurance, exterior maintenance, exterior painting, and roof, allowing for low-maintenance living. Enjoy comfort, convenience, and carefree living in this beautifully maintained Tanglewood condo.

19. 2018-05-16
    soldstatus $125,000
20. 2018-05-03
    soldstatus $125,000 426-char remark

    Show marketing remark (426 chars)

    Updated First Floor condo. Condo features 2 large Bedrooms, 2 full Baths. Large Living/Dining Area. Kitchen with pass thru to Dining Area. Kitchen appliances, Stack washer/dryer. Sliders from Living area to outside patio. Master Bedroom features large dressing area, walk-in closet. Small storage unit. 1 Covered Parking Space. Located in Suntree, close to shopping, restaurants, I95. Walking distance to Suntree Country Club.

21. 2018-03-16
    listed $140,000 426-char remark

    Show marketing remark (426 chars)

    Updated First Floor condo. Condo features 2 large Bedrooms, 2 full Baths. Large Living/Dining Area. Kitchen with pass thru to Dining Area. Kitchen appliances, Stack washer/dryer. Sliders from Living area to outside patio. Master Bedroom features large dressing area, walk-in closet. Small storage unit. 1 Covered Parking Space. Located in Suntree, close to shopping, restaurants, I95. Walking distance to Suntree Country Club.

22. 2005-09-26
    soldstatus $189,000
23. 2003-09-09
    soldstatus $89,500
24. 2001-06-01
    soldstatus $69,000
25. 1999-04-14
    soldstatus $60,000
26. 1981-07-01
    soldstatus $1,676,000

ⓘ 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: $1,899 · $158/mo
• Projected year-2 tax: $1,899 · $158/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,607
• − Mortgage interest: −$9,797
• − Property taxes: −$1,899
• − Insurance: −$874
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − HOA: −$6,552
• − Depreciation: −$5,088
• Taxable loss: −$2,701
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $546/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

• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-89.3% since first listed

12 events — show timeline

• 2026-03-09 Price Changed $179,999 SCMLS
• 2026-03-09 Price Changed $179,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-17 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-17 Listed $189,900 SCMLS
• 2018-05-16 Sold (Public Records) $125,000 Public Records
• 2018-05-03 Sold (MLS) $125,000 SCMLS
• 2018-03-16 Listed $140,000 SCMLS
• 2005-09-26 Sold (Public Records) $189,000 Public Records
• 2003-09-09 Sold (Public Records) $89,500 Public Records
• 2001-06-01 Sold (Public Records) $69,000 Public Records
• 1999-04-14 Sold (Public Records) $60,000 Public Records
• 1981-07-01 Sold (Public Records) $1,676,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,899 · +10.1% YoY. Source: county tax records.