545 Westminster Ave · Melbourne, FL 32935

$254,000

3 bd · 2.0 ba · 1,346 sqft · SingleFamily public records · 113 Days on market

Built 1964 7,405 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 +15.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.7/10.0
• 1% rule +3.0/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2-bedroom, 2-bath home with a flexible bonus room that can serve as a third bedroom, office, or additional living space. Tile flooring runs throughout for easy upkeep. The kitchen offers generous cabinet space, stainless steel appliances, a pantry, and a breakfast bar that opens to the main living area. Step out to the screened back porch overlooking a fully fenced yard--ideal for pets, play, or entertaining. The property also includes a storage shed and a concrete slab along the side of the home, perfect for parking a boat, trailer, or other recreational toys.

Key facts

• Screened back porch
• Flexible bonus room
• Storage shed

Tags

• FLEXIBLE BONUS ROOM
• GENEROUS CABINET SPACE
• STAINLESS STEEL APPLIANCES
• SCREENED BACK PORCH
• FULLY FENCED YARD
• STORAGE SHED

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence; One story; Entry level: 1; Faces west
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Rear screened porch; Shed(s); Cleared lot; Back yard fencing (wood, fenced)

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dryer
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Ceiling fans
• Laundry & utility: In-unit washer and dryer hookups; Electric dryer hookup; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $254k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $203k (20.0% below list).
• Recommended offer: $203k (20.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Roy Allen Elementary School (math 63% / reading 60%, grade B, #634 of 2,144 statewide, top 30%, 598 students, 55% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Eau Gallie High School (math 20% / reading 49%, grade F, #386 of 667 statewide, top 59%, 1,586 students, 55% FRL).
• Market conditions: Rents flat; 335 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 38% of the median local income ($65k/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 $8k 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 113 days — a 9% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $254k implies a 869% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,238 (20.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.80% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.45×
• Total profit: $-38,958
• Equity at exit: $37,872

10-year hold

• IRR: -11.5%
• Equity multiple: 0.38×
• Total profit: $-44,358
• Equity at exit: $21,961

Cash invested: $71,120 (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 32935

• Rents YoY: 0.5%
• Active inventory: 335
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,032 high
• Mortgage (P&I): −$1,332
• Tax from tax record: −$54 /mo · $645/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $114

Break-even live

Break-even rent $1,888

Max offer price $254,000

Occupancy floor 89%

Sensitivity live

Price	-10% $258	-5% $186	+0% $114	+5% $42	+10% $-30
Rent	-10% $-47	-5% $34	+0% $114	+5% $194	+10% $275
Rate	-1.0pp $242	-0.5pp $179	base $114	+0.5pp $48	+1.0pp $-19

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 Cheyenne Ave Melbourne, FL	2.0	2.0	1299	$2,000	$1.54	16d	1	0.13mi
715 Clarke Ave Melbourne, FL	4.0	2.0	1366	$1,975	$1.45	16d	1	0.18mi
1965 Barkley Ave Melbourne, FL	3.0	1.0	1000	$1,600	$1.60	25d	1	0.33mi
2137 Laden Rd Melbourne, FL	3.0	2.0	1248	$2,100	$1.68	25d	1	0.34mi
848 Comanche Ave Melbourne, FL	3.0	2.0	1080	$1,950	$1.81	25d	1	0.44mi
512 Dijon Dr Melbourne, FL	3.0	2.0	1800	$2,450	$1.36	25d	1	0.50mi
1738 Cadillac Cir N Melbourne, FL	4.0	2.0	1563	$2,500	$1.60	25d	1	0.58mi
2659 Burns Ave Melbourne, FL	3.0	1.0	1044	$1,850	$1.77	25d	1	0.65mi
2375 Ricky Rd Melbourne, FL	4.0	2.0	1372	$2,150	$1.57	25d	1	0.66mi
758 Ixora Dr Melbourne, FL	3.0	2.5	1664	$2,700	$1.62	25d	1	0.69mi
1688 Eisenhower Ave Melbourne, FL	3.0	1.5	988	$1,700	$1.72	25d	1	0.77mi
2794 Rhonda Ln Melbourne, FL	2.0	2.0	996	$1,900	$1.91	25d	1	0.88mi
500 N Wickham Rd Melbourne, FL	2.0	2.0	1000	$1,449	$1.45	16d	8	0.99mi
2806 Tropic Rd Unit 1 Melbourne, FL	3.0	2.0	1705	$1,600	$0.94	23d	1	1.06mi
653 Ridge Club Dr #27 Melbourne, FL	2.0	1.5	900	$1,550	$1.72	25d	1	1.07mi
1795 Kole Pl #109 Melbourne, FL	3.0	2.5	1472	$1,950	$1.32	25d	1	1.08mi
1455 Isabella Dr #101 Melbourne, FL	3.0	2.5	1606	$2,275	$1.42	25d	1	1.18mi
1430 Isabella Dr #102 Melbourne, FL	3.0	2.5	1510	$2,250	$1.49	25d	1	1.18mi
910 Twisting Branch Ct Melbourne, FL	3.0	2.0	1600	$2,000	$1.25	25d	1	1.29mi
1513 Hendren Dr Melbourne, FL	4.0	2.0	1513	$2,335	$1.54	15d	1	1.30mi
1583 White Cap Way Melbourne, FL	4.0	2.0	1374	$2,350	$1.71	25d	1	1.42mi

Listing history 19 events

1. 2026-06-22
   days on market $254,000 Active 113 DOM
2. 2026-06-18
   days on market $254,000 Active 110 DOM
3. 2026-06-17
   days on market $254,000 Active 109 DOM
4. 2026-06-16
   days on market $254,000 Active 108 DOM
5. 2026-06-15
   days on market $254,000 Active 107 DOM
6. 2026-06-14
   days on market $254,000 Active 105 DOM
7. 2026-06-10
   days on market $254,000 Active 102 DOM
8. 2026-06-08
   days on market $254,000 Active 100 DOM
9. 2026-06-07
   days on market $254,000 Active 99 DOM
10. 2026-06-05
    days on market $254,000 Active 96 DOM
11. 2026-06-03
    days on market $254,000 Active 95 DOM
12. 2026-06-02
    days on market $254,000 Active 94 DOM
13. 2026-06-01
    days on market $254,000 Active 93 DOM
14. 2026-05-31
    days on market $254,000 Active 92 DOM
15. 2026-05-31
    days on market $254,000 Active 91 DOM
16. 2026-05-19
    price $254,000
17. 2026-03-19
    price $255,000
18. 2026-02-28
    listed $260,000 Active
19. 1976-02-01
    soldstatus $26,200

ⓘ 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: $645 · $54/mo
• Projected year-2 tax: $2,108 · $176/mo
• Expected delta: +$1,464/yr (+$122/mo · 227.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $24,389
• − Mortgage interest: −$14,228
• − Property taxes: −$645
• − Insurance: −$1,270
• − Repairs & maintenance: −$1,951
• − Management: −$1,951
• − Depreciation: −$7,389
• Taxable loss: −$3,045
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $2,099/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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

+869.5% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $254,000 SCMLS
• 2026-03-19 Price Changed $255,000 SCMLS
• 2026-02-28 Listed $260,000 SCMLS
• 1976-02-01 Sold (Public Records) $26,200 Public Records

Property tax history

+0.7%/yr

Latest (2025): $645 · +4.1% YoY. Source: county tax records.