962 Serenade St NW · Palm Bay, FL 32907

$235,000

3 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 10 Days on market

Built 1986 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).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.1/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 4 bedroom 2 bathroom home with new interior paint, and updated landscaping. Hurricane shutters included, there is pull down stairs for the attic. Water heater and both bathrooms updated with new vanities & toilets as of 2015. Centrally located in NW Palm Bay only 10 minutes to I-95, 10 minutes to Eastern Florida State College Palm Bay, less than 30 minutes to the beach!

Key facts

• 2025 roof
• Split floor plan
• Updated flooring

Tags

• 2025 ROOF
• 2020 HVAC
• 2023 HOT WATER HEATER
• SPLIT FLOOR PLAN
• UPDATED FLOORING
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Septic tank sewer; Cable available; Electricity connected; Water connected
• Home design: Single-family residence; Faces northeast
• Construction: Vinyl siding
• Exterior features: Back yard fencing; Lot includes other features

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fans; Walk-in closets
• Laundry & utility: Unfurnished (no built-in washer/dryer listed)

Heating & cooling

• Heating & cooling: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $10 ($115/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 $202k (14.0% below list).
• Recommended offer: $202k (14.0% 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: Christa Mcauliffe Elementary School (math 56% / reading 55%, grade C, #855 of 2,144 statewide, top 41%, 621 students, 68% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 750 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% of the median local income ($75k/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 $7k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y 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 $142k; list at $235k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,011 (14.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-41,585
• Equity at exit: $35,039

10-year hold

• IRR: -15.2%
• Equity multiple: 0.22×
• Total profit: $-51,623
• Equity at exit: $20,319

Cash invested: $65,800 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 750
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$256 /mo · $3,072/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $10

Break-even live

Break-even rent $2,008

Max offer price $235,000

Occupancy floor 95%

Sensitivity live

Price	-10% $143	-5% $76	+0% $10	+5% $-57	+10% $-123
Rent	-10% $-150	-5% $-70	+0% $10	+5% $89	+10% $169
Rate	-1.0pp $128	-0.5pp $69	base $10	+0.5pp $-51	+1.0pp $-113

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
890 Serenade St NW Palm Bay, FL	3.0	2.0	901	$1,850	$2.05	25d	1	0.11mi
874 Altona St NW Palm Bay, FL	3.0	2.0	1488	$1,955	$1.31	25d	1	0.24mi
1374 Jupiter Blvd NW Palm Bay, FL	3.0	2.0	1500	$1,895	$1.26	25d	1	0.30mi
496 Iroquois Ave NW Palm Bay, FL	3.0	2.0	1128	$1,950	$1.73	25d	1	0.43mi
1388 Hazel St NW Palm Bay, FL	3.0	2.0	1475	$1,894	$1.28	16d	1	0.94mi
838 Gillen Ave NW Palm Bay, FL	3.0	2.0	1416	$1,900	$1.34	16d	1	0.96mi
1147 Jericho Ave NW Palm Bay, FL	3.0	2.0	1352	$1,700	$1.26	25d	1	0.97mi
271 Wendover Rd SW Palm Bay, FL	3.0	2.0	1425	$1,900	$1.33	25d	1	1.19mi
916 Spring St NW Palm Bay, FL	3.0	2.0	1494	$1,800	$1.20	25d	1	1.24mi
1572 Holbrook Rd NW Palm Bay, FL	3.0	2.0	1256	$1,945	$1.55	25d	1	1.28mi
1699 Givens Ct NW Palm Bay, FL	3.0	2.0	1458	$1,900	$1.30	16d	1	1.30mi
751 Winchell St SW Palm Bay, FL	3.0	2.0	1160	$1,960	$1.69	21d	1	1.34mi
154 Daffodil Dr SW Palm Bay, FL	3.0–4.0	2.0–3.0	1384	$1,649	$1.19	16d	6	1.45mi
403 Tillman Ave SW Palm Bay, FL	3.0	2.0	1056	$1,750	$1.66	23d	1	1.46mi

Listing history 7 events

1. 2026-06-22
   days on market $235,000 Active 10 DOM
2. 2026-06-18
   days on market $235,000 Active 7 DOM
3. 2026-06-17
   days on market $235,000 Active 6 DOM
4. 2026-06-16
   days on market $235,000 Active 5 DOM
5. 2026-06-15
   days on market $235,000 Active 4 DOM
6. 2026-06-14
   remarks 316-char remark
7. 2026-06-14
   listed $235,000 Active 2 DOM

ⓘ 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: $3,072 · $256/mo
• Projected year-2 tax: $3,072 · $256/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 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: $24,241
• − Mortgage interest: −$13,164
• − Property taxes: −$3,072
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$6,836
• Taxable loss: −$3,884
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $1,047/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

+360.8% since first listed

23 events — show timeline

• 2026-06-09 Listed $235,000 SCMLS
• 2026-01-31 Rental Removed $1,645 SCMLS
• 2025-12-06 Price Changed $1,645 SCMLS
• 2025-11-19 Price Changed $1,695 SCMLS
• 2025-11-08 Price Changed $1,720 SCMLS
• 2025-11-06 Price Changed $1,745 SCMLS
• 2025-10-30 Price Changed $1,795 SCMLS
• 2025-10-22 Price Changed $1,845 SCMLS
• 2025-10-13 Price Changed $1,895 SCMLS
• 2025-09-12 Rental Removed $2,070 RENTLY
• 2025-09-10 Listed for Rent $2,070 SCMLS
• 2025-09-07 Listed for Rent $2,070 RENTLY
• 2025-04-10 Rental Removed $2,040 RENTLY
• 2025-04-08 Rental Removed $2,040 RENT.
• 2025-02-26 Listed for Rent $2,040 RENT.
• 2025-02-25 Listed for Rent $2,040 RENTLY
• 2020-08-13 Sold (Public Records) $142,500 Public Records
• 2020-08-12 Sold (MLS) $142,500 SCMLS
• 2020-07-30 Contingent — SCMLS
• 2020-07-29 Listed $159,900 SCMLS
• 2016-02-26 Sold (MLS) $87,500 SCMLS
• 2016-01-05 Listed $99,999 SCMLS
• 1990-09-01 Sold (Public Records) $51,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $3,072 · +5.9% YoY. Source: county tax records.