3423 Elder St · Titusville, FL 32796

$235,000

3 bd · 2.0 ba · 1,171 sqft · SingleFamily public records · 6 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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained 3-bedroom, 2-bath home offers just under 1,200 square feet of comfortable living space in a well-established neighborhood, conveniently located near I-95 and shopping. The property features a single-car garage and has seen several key updates, including newer kitchen appliances, upgraded insulation in the ceiling and most walls for improved energy efficiency, updated kitchen plumbing, and removal of cast iron plumbing in the bathrooms. The well system has also been recently improved with a brand-new pump installed in 2026, providing added peace of mind. This move-in-ready home is ideal for buyers seeking value, convenience, and important system upgrades already complete

Key facts

• Improved well system
• New pump installed
• Upgraded insulation

Tags

• NEWER KITCHEN APPLIANCES
• UPGRADED INSULATION
• UPDATED KITCHEN PLUMBING
• REMOVAL OF CAST IRON PLUMBING
• IMPROVED WELL SYSTEM
• NEW PUMP INSTALLED

Property features AI

Exterior

• Parking: Garage; 1-car garage
• Utilities: Public sewer; Cable available; Electricity available and connected; Sewer available and connected; Water available and connected
• Home design: Single family residence; One story; Faces north
• Construction: Block construction; Shingle roof
• Exterior features: Rear porch; Back yard fencing; Few trees; Private asphalt road frontage

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floor plan
• Laundry & utility: Laundry located in garage; Unfurnished

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 $-25 ($-304/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (18.4% below list).
• Recommended offer: $192k (18.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#42 in FL, #668 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment 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: Oak Park Elementary School (math 36% / reading 37%, grade F, #1,656 of 2,144 statewide, top 78%, 501 students, 74% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 63% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 55% district-wide (-18 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 259 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); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 34% of the median local income ($67k/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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $235k implies a 385% 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; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,734 (18.4% 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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.82% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.33×
• Total profit: $-44,255
• Equity at exit: $35,039

10-year hold

• IRR: -18.3%
• Equity multiple: 0.11×
• Total profit: $-58,455
• 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 32796

• Rents YoY: 0.6%
• Active inventory: 259
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$210 /mo · $2,517/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-25

Break-even live

Break-even rent $1,949

Max offer price $230,530

Occupancy floor 96%

Sensitivity live

Price	-10% $108	-5% $41	+0% $-25	+5% $-92	+10% $-158
Rent	-10% $-177	-5% $-101	+0% $-25	+5% $50	+10% $126
Rate	-1.0pp $93	-0.5pp $34	base $-25	+0.5pp $-86	+1.0pp $-148

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
609 Ward Ave Titusville, FL	3.0	2.0	1200	$1,950	$1.62	25d	1	0.19mi
292 W Towne Pl Titusville, FL	2.0	2.5	1242	$1,450	$1.17	15d	1	0.32mi
265 W Towne Pl Titusville, FL	2.0	1.0	1128	$1,650	$1.46	25d	1	0.34mi
583 Gardenia Cir Titusville, FL	3.0	2.0	1120	$1,800	$1.61	25d	1	0.59mi
3960 Barcelona St Titusville, FL	3.0	1.0	1040	$1,800	$1.73	25d	1	0.63mi
955 N Carpenter Rd Titusville, FL	3.0	1.0	816	$1,550	$1.90	23d	1	0.83mi
965 N Singleton Ave Titusville, FL	3.0	2.0	1493	$2,250	$1.51	20d	1	0.87mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,300	$1.76	16d	1	0.93mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,200	$1.69	25d	1	0.93mi
2745 Starlight Dr Titusville, FL	3.0	2.0	1232	$1,800	$1.46	25d	1	1.04mi
1105 Morse Ave Titusville, FL	3.0	2.0	1218	$1,995	$1.64	25d	1	1.19mi
1539 Lafayette Ave Titusville, FL	3.0	2.0	1457	$2,260	$1.55	15d	1	1.33mi
1580 Liberty Tree Rd Titusville, FL	3.0	2.0	1458	$2,145	$1.47	15d	1	1.38mi
2008 Vaughn St Titusville, FL	3.0	1.5	1198	$1,850	$1.54	25d	1	1.46mi

Listing history 3 events

1. 2026-05-03
   status Pending
2. 2026-04-27
   listed $235,000 Active
3. 1988-08-01
   soldstatus $48,490

ⓘ 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: $2,517 · $210/mo
• Projected year-2 tax: $2,517 · $210/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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 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: $23,008
• − Mortgage interest: −$13,164
• − Property taxes: −$2,517
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$6,836
• Taxable loss: −$4,365
• Est. tax savings @ 24.0%: +$1,048
• After-tax cash flow: $744/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 — Titusville

• Score: 84/100
• State rank: #42
• US rank: #668

Category grades

Amenities B- Commute A+ Cost of living A+ Crime D Employment D Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Titusville, FL
• County: Brevard County · 602,871 people
• City population: 60,286
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

+384.6% since first listed

3 events — show timeline

• 2026-05-03 Pending — SCMLS
• 2026-04-27 Listed $235,000 SCMLS
• 1988-08-01 Sold (Public Records) $48,490 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,517 · +3.6% YoY. Source: county tax records.