1644 Garabaldi Cir SE · Palm Bay, FL 32909

$432,125

5 bd · 3.0 ba · 2,601 sqft · SingleFamily · 18 Days on market

Built 2026

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks

Find all the space you need in our popular two-story Hayden floorplan in Cypress Bay West, one of our communities in Palm Bay, Florida. Inside this 5-bedroom, 3-bathroom home, you'll find 2,601 square feet of flexible living space and a two-car garage. Step through the front foyer and you're greeted with a flex room designed for work or play. Make your way to the kitchen on the first floor, which overlooks the living room, dining room and glass slider to the backyard patio. The kitchen features a center island with room for seating, plentiful cabinetry, granite countertops, stainless steel appliances and a walk-in pantry which are sure to both turn heads and make meal prep easy. Guests can

Key facts

• Flex room
• Granite countertops
• Walk in pantry

Tags

• TWO STORY FLOORPLAN
• FLEX ROOM
• CENTER ISLAND
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK IN PANTRY

Property features AI

Finance

• Other: Address: 1644 Garabaldi Cir SE, Palm Bay FL 32909
• Financial info: List price $432,125

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family property
• Exterior features: Living area of 2601

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Spec home, Hayden plan; Active listing

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $432k.

Deal economics

• At list price, monthly cash flow is $-910 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $300k (30.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (39.2% below list).
• Recommended offer: $263k (39.2% 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: schools C-, employment D+, amenities F.
• 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 (+3.7%/yr); 1111 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 39% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $46k of equity ($3k loan paydown + $43k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($426k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $262,787 (39.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.61% ✗
• Cap rate: 3.77%
• Cash-on-cash: -9.03%
• DSCR: 0.60
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.48×
• Total profit: $179,192
• Equity at exit: $389,292

10-year hold

• IRR: 17.0%
• Equity multiple: 5.77×
• Total profit: $577,082
• Equity at exit: $839,524

Cash invested: $120,995 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1111
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,628 high
• Mortgage (P&I): −$2,266
• Tax est. 1.5%: −$540 /mo · $6,482/yr
• Insurance: −$180
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-910

Break-even live

Break-even rent $3,780

Max offer price $300,403

Occupancy floor —

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: $108,031
• Closing costs: $12,964
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1394 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1876	$2,500	$1.33	19d	1	0.10mi
1566 Criswell Ln SE Palm Bay, FL	4.0	2.0	2046	$2,400	$1.17	23d	1	0.16mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	13d	1	0.18mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	19d	1	0.19mi
3517 Rixford Way SE Palm Bay, FL	4.0	3.0	2562	$2,800	$1.09	23d	1	0.50mi
1783 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2207	$2,100	$0.95	23d	1	0.51mi
1046 Grantham Ln SE Palm Bay, FL	4.0	2.5	2405	$3,100	$1.29	23d	1	0.56mi
1843 Middlebury Dr SE Palm Bay, FL	4.0	2.0	1822	$2,200	$1.21	23d	1	0.57mi
1496 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2187	$2,440	$1.12	14d	1	0.63mi
2073 Farmhouse Rd SE Palm Bay, FL	4.0	2.0	1830	$2,133	$1.17	23d	1	1.01mi
3004 Suntan Ct SE Palm Bay, FL	4.0	2.0	2388	$2,900	$1.21	23d	1	1.19mi

Listing history 7 events

1. 2026-06-08
   days on market $432,125 Active 18 DOM
2. 2026-06-07
   days on market $432,125 Active 17 DOM
3. 2026-06-05
   days on market $432,125 Active 14 DOM
4. 2026-06-03
   days on market $432,125 Active 13 DOM
5. 2026-06-02
   days on market $432,125 Active 12 DOM
6. 2026-06-01
   days on market $432,125 Active 11 DOM
7. 2026-05-31
   days on market $432,125 Active 10 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 5 d/yr ≥106°F today · 16 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: $31,534
• − Mortgage interest: −$24,206
• − Property taxes: −$6,482
• − Insurance: −$2,161
• − Repairs & maintenance: −$2,523
• − Management: −$2,523
• − Depreciation: −$12,571
• Taxable loss: −$18,930
• Est. tax savings @ 24.0%: +$4,543
• After-tax cash flow: $-6,380/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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