9503 Alister Dr · Viera West, FL 32940

$359,900

3 bd · 2.0 ba · 1,565 sqft · SingleFamily public records · 22 Days on market

Built 2022 5,663 sqft lot $491/mo HOA · 16% of rent

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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 +8.9/30.0
• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Great price on this villa in the maintenance-free, luxury living, 55+ community of Bridgewater! This beautifully upgraded home offers 2 bedrooms, 2 bathrooms, plus a flexible bonus room ideal for a home office, hobby room, or optional 3rd bedroom. Step inside to discover elegant 24-inch tile flooring throughout, recessed lighting, and an open-concept design that creates a bright and inviting atmosphere. The stunning kitchen features quartz countertops, white cabinetry, stainless steel appliances, and ample space for entertaining family and friends. IMPACT WINDOWS throughout the home protect you from storms! The spacious primary suite offers serene lake views along with dual vanities,

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 2022

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-291 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (14.8% below list).
• Recommended offer: $307k (14.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#450 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Longleaf Elementary School (math 83% / reading 79%, grade A+, #95 of 2,144 statewide, top 5%, 631 students, 24% FRL); Lyndon B. Johnson Middle School (math 40% / reading 42%, grade F, #353 of 571 statewide, top 63%, 610 students, 61% FRL); Viera High School (math 58% / reading 71%, grade B-, #78 of 667 statewide, top 13%, 2,289 students, 15% FRL).
• Market conditions: Rents rising (+2.0%/yr); 593 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 33% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $1k appreciation (0.4% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $306,628 (14.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.85% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.4% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.75×
• Total profit: $-25,205
• Equity at exit: $111,818

10-year hold

• IRR: -0.2%
• Equity multiple: 0.97×
• Total profit: $-2,738
• Equity at exit: $140,396

Cash invested: $100,772 (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 32940

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 593
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,066 medium
• Mortgage (P&I): −$1,887
• Tax from tax record: −$185 /mo · $2,226/yr
• Insurance: −$150
• HOA: −$491
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $-291

Break-even live

Break-even rent $3,435

Max offer price $308,416

Occupancy floor —

Sensitivity live

Price	-10% $-88	-5% $-190	+0% $-291	+5% $-393	+10% $-495
Rent	-10% $-534	-5% $-413	+0% $-291	+5% $-170	+10% $-49
Rate	-1.0pp $-110	-0.5pp $-200	base $-291	+0.5pp $-385	+1.0pp $-480

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9051 Udina Way Melbourne, FL	4.0	2.5	2054	$3,500	$1.70	25d	1	0.48mi
2371 Caravan Pl Melbourne, FL	3.0	2.0	1876	$2,999	$1.60	16d	1	0.56mi
1665 Ficus Point Dr Melbourne, FL	3.0	2.0	1834	$2,850	$1.55	25d	1	0.98mi
4591 Portage Trl Melbourne, FL	4.0	2.0	2104	$3,250	$1.54	16d	1	1.13mi

HOA detail

• Monthly dues: $491 · $5,892/yr
• Likely covers: water

Listing history 16 events

1. 2026-06-22
   days on market $359,900 Active 22 DOM
2. 2026-06-18
   days on market $359,900 Active 19 DOM
3. 2026-06-17
   days on market $359,900 Active 18 DOM
4. 2026-06-16
   pricedays on market $359,900 Active 17 DOM
5. 2026-06-15
   days on market $370,000 Active 16 DOM
6. 2026-06-14
   days on market $370,000 Active 14 DOM
7. 2026-06-10
   days on market $370,000 Active 11 DOM
8. 2026-06-08
   days on market $370,000 Active 9 DOM
9. 2026-06-07
   days on market $370,000 Active 8 DOM
10. 2026-06-05
    days on market $370,000 Active 5 DOM
11. 2026-06-03
    days on market $370,000 Active 4 DOM
12. 2026-06-02
    days on market $370,000 Active 3 DOM
13. 2026-06-01
    days on market $370,000 Active 2 DOM
14. 2026-05-31
    status $370,000 Active 1 DOM
15. 2026-05-28
    historical $370,000
16. 2021-10-18
    soldstatus $14,574,286

ⓘ 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: $2,226 · $185/mo
• Projected year-2 tax: $2,987 · $249/mo
• Expected delta: +$761/yr (+$63/mo · 34.2%)

ⓘ 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 ≥105°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: $36,795
• − Mortgage interest: −$20,160
• − Property taxes: −$2,226
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,944
• − Management: −$2,944
• − HOA: −$5,892
• − Depreciation: −$10,470
• Taxable loss: −$9,639
• Est. tax savings @ 24.0%: +$2,313
• After-tax cash flow: $-1,184/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 — Viera West

• Score: 70/100
• State rank: #450
• US rank: #8106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brevard County · 602,871 people
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 51,727
• Household income: $110,495
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 873.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▲ 0.40%
• Current HPI: 298.1023
• Rent YoY: ▲ 1.96%
• 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

-97.5% since first listed

2 events — show timeline

• 2026-05-28 Coming Soon $370,000 SCMLS
• 2021-10-18 Sold (Public Records) $14,574,286 Public Records

Property tax history

+68.2%/yr

Latest (2025): $2,226 · +8.4% YoY. Source: county tax records.