986 Jettie St NE · Palm Bay, FL 32907

$299,900

3 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 25 Days on market

Built 1978 0.29 ac lot

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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 +7.2/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

Key facts

• Minutes from beaches
• Converted garages
• Updated kitchen

Tags

• FULLY FENCED BACKYARD
• UPDATED KITCHEN
• CONVERTED GARAGES
• INDOOR LAUNDRY
• RECENTLY UPDATED SEPTIC SYSTEM
• MINUTES FROM BEACHES

Property features AI

Exterior

• Parking: Off-street parking; RV access/parking
• Utilities: Public sewer; Cable connected; Electricity connected; Water connected
• Home design: Single family residence; One story; North-facing
• Construction: Concrete and stucco construction
• Exterior features: Patio; Cleared lot; Few trees

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Eat-in kitchen; Open floorplan; Primary bedroom on main level; Split bedroom layout
• Laundry & utility: Washer hookup; Electric dryer hookup; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-406 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (31.4% below list).
• Recommended offer: $206k (31.4% 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: Lockmar Elementary School (math 45% / reading 53%, grade D, #1,134 of 2,144 statewide, top 54%, 583 students, 58% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Palm Bay Magnet Senior High School (math 25% / reading 37%, grade F, #429 of 667 statewide, top 65%, 1,486 students, 63% FRL) — zoned schools average 60% FRL vs 43% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 55% district-wide (-15 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; 750 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 33% of the median local income ($75k/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 25 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $300k implies a 67% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,655 (31.4% 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 1978 — 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. 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?
5. 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.
6. 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.
7. 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: 0.69% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.81%
• DSCR: 0.74
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -28.5%
• Equity multiple: 0.06×
• Total profit: $-78,675
• Equity at exit: $44,716

10-year hold

• IRR: -38.1%
• Equity multiple: -0.41×
• Total profit: $-118,340
• Equity at exit: $25,930

Cash invested: $83,972 (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 32907

• Home prices YoY: -10.1%
• Rents YoY: 0.9%
• Active inventory: 750
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,057 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$333 /mo · $4,001/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $-406

Break-even live

Break-even rent $2,571

Max offer price $228,100

Occupancy floor —

Sensitivity live

Price	-10% $-237	-5% $-322	+0% $-406	+5% $-491	+10% $-576
Rent	-10% $-569	-5% $-488	+0% $-406	+5% $-325	+10% $-244
Rate	-1.0pp $-255	-0.5pp $-330	base $-406	+0.5pp $-484	+1.0pp $-563

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Valor Dr SE Palm Bay, FL	1.0–2.0	1.0–2.0	901	$1,937	$2.15	16d	17	0.36mi
741 Fairhaven St NE Palm Bay, FL	2.0	2.0	1336	$1,900	$1.42	25d	1	0.42mi
194 Holiday Park Blvd NE Palm Bay, FL	3.0	2.0	1404	$1,695	$1.21	25d	1	0.61mi
331 Holiday Park Blvd NE Palm Bay, FL	2.0	2.0	920	$1,350	$1.47	25d	1	0.76mi
1391 Nolan St NE Palm Bay, FL	3.0	2.0	1176	$1,830	$1.56	21d	1	0.77mi
741 Frisco St SE Palm Bay, FL	3.0	2.0	1156	$1,950	$1.69	25d	1	0.77mi
453 Ralwood Ln NE Palm Bay, FL	3.0	2.0	1160	$1,900	$1.64	25d	1	0.79mi
481 Firestone St NE Palm Bay, FL	4.0	2.0	1504	$2,100	$1.40	25d	1	0.99mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	16d	30	0.99mi
461 Ellington Ave SE Palm Bay, FL	2.0	2.0	1040	$1,595	$1.53	25d	1	1.00mi
549 Burlington Ave NE Palm Bay, FL	3.0	2.0	1608	$2,075	$1.29	16d	1	1.09mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	23d	1	1.09mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	25d	1	1.12mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	25d	1	1.13mi
463 Eldron Blvd NE Palm Bay, FL	4.0	2.0	1870	$2,800	$1.50	25d	1	1.19mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	25d	1	1.24mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	15d	1	1.31mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	25d	1	1.31mi
1555 Omega St NE Palm Bay, FL	2.0	2.0	1176	$1,795	$1.53	25d	1	1.37mi
347 Americana Blvd NE Palm Bay, FL	3.0	2.0	1372	$1,900	$1.38	15d	1	1.38mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	16d	8	1.39mi
1706 Apache St NE Palm Bay, FL	3.0	2.0	1395	$1,800	$1.29	25d	1	1.49mi

Listing history 36 events

1. 2026-06-22
   days on market $299,900 Active 25 DOM
2. 2026-06-18
   days on market $299,900 Active 22 DOM
3. 2026-06-17
   days on market $299,900 Active 21 DOM
4. 2026-06-16
   days on market $299,900 Active 20 DOM
5. 2026-06-15
   days on market $299,900 Active 19 DOM
6. 2026-06-14
   days on market $299,900 Active 17 DOM
7. 2026-06-10
   pricedays on market $299,900 Active 14 DOM
8. 2026-06-08
   days on market $325,000 Active 12 DOM
9. 2026-06-07
   days on market $325,000 Active 11 DOM
10. 2026-06-05
    days on market $325,000 Active 8 DOM
11. 2026-06-03
    days on market $325,000 Active 7 DOM
12. 2026-06-02
    days on market $325,000 Active 6 DOM
13. 2026-06-01
    days on market $325,000 Active 5 DOM
14. 2026-05-31
    days on market $325,000 Active 4 DOM
15. 2026-05-31
    days on market $325,000 Active 3 DOM
16. 2026-05-27
    listed $325,000 Active
17. 2025-05-22
    historical $1,800
18. 2025-05-20
    listed $1,800
19. 2025-05-19
    historical $1,800
20. 2025-05-01
    listed $1,800
21. 2021-04-01
    soldstatus $180,000 Closed 607-char remark

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

22. 2021-04-01
    soldstatus $180,000

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

23. 2021-01-28
    historical Contingent 607-char remark

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

24. 2020-12-08
    status Active 607-char remark

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

25. 2020-11-19
    historical Contingent 607-char remark

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

26. 2020-11-12
    listed $185,000 Active 607-char remark

    Show marketing remark (607 chars)

    Great Investment opportunity. Tenant in place, Great neighborhood! Lockmar school district. NEW ROOF and New electric panel! Master bedroom flooring 2017 the rest of the home was remodeled in 2006: , windows, kitchen, bathrooms, water heater, fixtures and fans. 2 car garage has been converted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Garage can be converted back to a two car by new owners or add a one car overhead door on the workshop. Large laundry room, eat-in kitchen, huge family room and formal dinning area. The kids will love the enormous back yard!

27. 2018-09-19
    historical 497-char remark

    Show marketing remark (497 chars)

    Great Home, Great neighborhood! Lockmar school district. Completely remodeled in 2006: roof, windows, kitchen, bathrooms, hotwater heater, fixtures and fans. 2 car garage has been convereted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Can be converted back by new owners. Large laundry room, eatin kitchen, huge familyroom and formal dinning area. New flooring currently being installed in the master bedroom. The kids will love the enormous back yard!

28. 2018-07-04
    listed $164,900 497-char remark

    Show marketing remark (497 chars)

    Great Home, Great neighborhood! Lockmar school district. Completely remodeled in 2006: roof, windows, kitchen, bathrooms, hotwater heater, fixtures and fans. 2 car garage has been convereted to a bonus room (currently used as 4th bedroom) plus a 20x9.5 workshop and 9x8 CBS shed. Can be converted back by new owners. Large laundry room, eatin kitchen, huge familyroom and formal dinning area. New flooring currently being installed in the master bedroom. The kids will love the enormous back yard!

29. 2006-10-16
    soldstatus $161,700
30. 2006-10-11
    soldstatus $161,700
31. 2006-09-07
    listed $164,900
32. 2005-09-29
    soldstatus $157,000
33. 1992-03-01
    soldstatus $67,000
34. 1985-11-01
    soldstatus $68,400
35. 1978-10-01
    soldstatus $38,000
36. 1977-12-01
    soldstatus $21,000

ⓘ 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: $4,001 · $333/mo
• Projected year-2 tax: $4,001 · $333/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 ≥106°F today · 22 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: $24,679
• − Mortgage interest: −$16,799
• − Property taxes: −$4,001
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,974
• − Management: −$1,974
• − Depreciation: −$8,724
• Taxable loss: −$10,294
• Est. tax savings @ 24.0%: +$2,471
• After-tax cash flow: $-2,407/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): 49,080
• Household income: $75,311
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 702.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Black 15% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Cuban 2% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 17% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -34.79%
• Current HPI: 308.9719
• Rent YoY: ▲ 0.93%
• 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

+1447.6% since first listed

21 events — show timeline

• 2026-05-27 Listed $325,000 SCMLS
• 2025-05-22 Rental Removed $1,800 BUILDIUM
• 2025-05-20 Listed for Rent $1,800 BUILDIUM
• 2025-05-19 Rental Removed $1,800 SCMLS
• 2025-05-01 Listed for Rent $1,800 SCMLS
• 2021-04-01 Sold (Public Records) $180,000 Public Records
• 2021-04-01 Sold (MLS) $180,000 SCMLS
• 2021-01-28 Contingent — SCMLS
• 2020-12-08 Relisted — SCMLS
• 2020-11-19 Contingent — SCMLS
• 2020-11-12 Listed $185,000 SCMLS
• 2018-09-19 Listing Removed — SCMLS
• 2018-07-04 Listed $164,900 SCMLS
• 2006-10-16 Sold (Public Records) $161,700 Public Records
• 2006-10-11 Sold (MLS) $161,700 SCMLS
• 2006-09-07 Listed $164,900 SCMLS
• 2005-09-29 Sold (Public Records) $157,000 Public Records
• 1992-03-01 Sold (Public Records) $67,000 Public Records
• 1985-11-01 Sold (Public Records) $68,400 Public Records
• 1978-10-01 Sold (Public Records) $38,000 Public Records
• 1977-12-01 Sold (Public Records) $21,000 Public Records

Property tax history

+20.3%/yr

Latest (2025): $4,001 · -3.6% YoY. Source: county tax records.