320 Akron Way · Merritt Island, FL 32955

$78,500

2 bd · 2.0 ba · 396 sqft · Condo public records · 159 Days on market

Built 1988 $230/mo HOA · 15% of rent ↓ 12% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Ameri-Cana Resorts, a Sought after 55+ gated community with fantastic amenities, including a pool, clubhouse, pickleball, Tennis, Bocce ball and a fitness center. The $230.00 per month HOA fee covers water, cable, trash, lawn care and internet. This is a Estate Sale so it is being sold with all the furnishings. This property is a perfect winter get away. Front and side paver Patio. Property being sold in AS IS condition with excising contents and furnishings. A new HVAC system has just been installed plus a new electrical meter box installed. Property is in mechanically good condition and is currently the lowest priced property in the development.

Key facts

• Gated community
• Fitness center
• Fantastic amenities

Tags

• GATED COMMUNITY
• FANTASTIC AMENITIES
• FITNESS CENTER
• PAVER PATIO

Property features AI

Finance

• Financial info: Land lease; Senior community
• HOA & community: Association: Ameri-cana Resorts Co-op, Inc.; Monthly association fee of $230; Community amenities include clubhouse, fitness center, park, pickleball, tennis courts, shuffleboard court, RV/boat storage, trash service, water, cable TV, management (full time)

Exterior

• Parking: Off-street parking
• Security: Gated community (association amenity)
• Utilities: Private sewer; Water connected; Sewer connected; Electricity connected; Cable connected
• Home design: Manufactured home; One level; Faces east
• Construction: Metal and shingle roof; Manufactured construction
• Exterior features: Patio; Private road frontage; Asphalt road surface; Pets allowed (dogs OK)

Interior

• Kitchen: Electric range; Refrigerator; Dryer
• Bedrooms: 1 bedroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Electric cooling; Wall/window unit(s)
• Interior features: Laminate flooring; Furnished
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $78k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $69k (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.
• Zoned schools: Suntree Elementary School (math 80% / reading 80%, grade A+, #110 of 2,144 statewide, top 5%, 600 students, 23% FRL); Delaura Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 843 students, 21% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL) — zoned schools average 19% FRL vs 43% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 55% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Brevard average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 317 active listings in the ZIP; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $543 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $69,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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?
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 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: 1.93% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.63%
• DSCR: 2.01
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.44×
• Total profit: $9,580
• Equity at exit: $11,705

10-year hold

• IRR: 17.4%
• Equity multiple: 2.21×
• Total profit: $26,500
• Equity at exit: $6,787

Cash invested: $21,980 (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 32955

• Home prices YoY: -20.7%
• Rents YoY: 0.1%
• Active inventory: 317
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,514 medium
• Mortgage (P&I): −$412
• Tax from tax record: −$107 /mo · $1,287/yr
• Insurance: −$33
• HOA: −$230
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $414

Break-even live

Break-even rent $989

Max offer price $78,500

Occupancy floor 68%

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: $19,625
• Closing costs: $2,355
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Likely covers: watertrashelectricinternetcablelandscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $78,500 Active 159 DOM
2. 2026-06-17
   days on market $78,500 Active 158 DOM
3. 2026-06-16
   days on market $78,500 Active 157 DOM
4. 2026-06-15
   days on market $78,500 Active 156 DOM
5. 2026-06-14
   days on market $78,500 Active 154 DOM
6. 2026-06-10
   days on market $78,500 Active 151 DOM
7. 2026-06-09
   remarks 666-char remark
8. 2026-06-08
   days on market $78,500 Active 149 DOM
9. 2026-06-07
   days on market $78,500 Active 148 DOM
10. 2026-06-05
    days on market $78,500 Active 145 DOM
11. 2026-06-03
    days on market $78,500 Active 144 DOM
12. 2026-06-02
    days on market $78,500 Active 143 DOM
13. 2026-06-01
    days on market $78,500 Active 142 DOM
14. 2026-05-31
    days on market $78,500 Active 141 DOM
15. 2026-05-31
    days on market $78,500 Active 140 DOM
16. 2026-03-27
    price $78,500
17. 2026-02-02
    price $82,500
18. 2026-01-10
    listed $89,500 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: $1,287 · $107/mo
• Projected year-2 tax: $1,287 · $107/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $18,168
• − Mortgage interest: −$4,397
• − Property taxes: −$1,287
• − Insurance: −$392
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − HOA: −$2,760
• − Depreciation: −$2,284
• Taxable income: $4,141
• Est. tax owed @ 24.0%: −$994
• After-tax cash flow: $3,979/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): 41,008
• Household income: $86,457
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1273.0

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 (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 7% · Canada, Jamaica, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2%

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: ▼ -81.70%
• Current HPI: 312.7435
• Rent YoY: ▲ 0.12%
• 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

-12.3% since first listed

3 events — show timeline

• 2026-03-27 Price Changed $78,500 SCMLS
• 2026-02-02 Price Changed $82,500 SCMLS
• 2026-01-10 Listed $89,500 SCMLS

Property tax history

+5.4%/yr

Latest (2025): $1,287 · +11.7% YoY. Source: county tax records.