150 Hart St SW · Palm Bay, FL 32908

$292,990

3 bd · 2.0 ba · 1,243 sqft · Land · 79 Days on market

Built 2026 10,454 sqft lot

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

BRAND NEW HOME! Come see the beautiful Palm floor model has 1243 square feet of living space and comes equipped with 3 bedrooms, 2 bathrooms and a single car garage. Inside features include stain resistant wall to wall carpeting in the main living areas and a vinyl floor in the wet areas. 30'' upper cabinets in the kitchen, and laminate countertops. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

Key facts

• 0.24 acre lot
• Garage
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $293k.

Deal economics

• At list price, monthly cash flow is $-378 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (18.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (28.8% below list).
• Recommended offer: $208k (28.8% 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: Jupiter Elementary School (math 41% / reading 42%, grade F, #1,437 of 2,144 statewide, top 68%, 732 students, 68% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 1030 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 79 days — a 6% lower offer ($275k) is reasonable based on typical stale-listing flexibility.

Recommended offer $208,473 (28.8% 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 79 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.71% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.53%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.29% rent growth · sell at horizon

5-year hold

• IRR: -27.7%
• Equity multiple: 0.09×
• Total profit: $-75,038
• Equity at exit: $43,686

10-year hold

• IRR: -33.6%
• Equity multiple: -0.34×
• Total profit: $-110,186
• Equity at exit: $25,332

Cash invested: $82,037 (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 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1030
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,536
• Tax est. 1.5%: −$366 /mo · $4,395/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-378

Break-even live

Break-even rent $2,563

Max offer price $238,314

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-277	+0% $-378	+5% $-479	+10% $-580
Rent	-10% $-543	-5% $-460	+0% $-378	+5% $-296	+10% $-213
Rate	-1.0pp $-230	-0.5pp $-303	base $-378	+0.5pp $-454	+1.0pp $-531

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: $73,248
• Closing costs: $8,790
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	16d	1	0.39mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	16d	1	0.41mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	25d	1	0.49mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	25d	1	0.59mi
1072 Genesee Ave SE Palm Bay, FL	3.0	2.0	1004	$1,855	$1.85	25d	1	0.60mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	16d	1	0.67mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	21d	1	0.71mi
487 Wiltshire Ave SW Palm Bay, FL	3.0	2.0	1462	$2,300	$1.57	25d	1	1.03mi
511 Trumpet St SW Palm Bay, FL	3.0	2.0	1243	$2,200	$1.77	25d	1	1.04mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	25d	1	1.25mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	25d	1	1.27mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	25d	1	1.33mi
2127 Jupiter Blvd SW Palm Bay, FL	3.0	2.0	1104	$1,885	$1.71	25d	1	1.39mi
800 Starland St SE Palm Bay, FL	2.0	1.0	904	$1,650	$1.83	25d	1	1.41mi
461 Ellington Ave SE Palm Bay, FL	2.0	2.0	1040	$1,595	$1.53	25d	1	1.42mi
154 Daffodil Dr SW Palm Bay, FL	3.0–4.0	2.0–3.0	1384	$1,649	$1.19	16d	6	1.47mi

Listing history 2 events

1. 2026-04-03
   status Pending
2. 2026-01-14
   listed $292,990 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,017
• − Mortgage interest: −$16,412
• − Property taxes: −$4,395
• − Insurance: −$1,465
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − Depreciation: −$8,523
• Taxable loss: −$9,781
• Est. tax savings @ 24.0%: +$2,347
• After-tax cash flow: $-2,187/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): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 112.0

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 20% Black 20% Two or more races 19%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 3% Estonian 2% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -38.22%
• Current HPI: 330.0399
• Rent YoY: ▲ 1.29%
• 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

2 events — show timeline

• 2026-04-03 Pending — SCMLS
• 2026-01-14 Listed $292,990 SCMLS