9503 Alister Dr

Viera West, FL 32940

$359,900D

3 bd · 2.0 ba · 1,565 sqft · Built 2022 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,066/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$335
• HOA: −$491
• Vac / Maint / Mgmt: −$644
• Net cashflow: $-291/mo
• Annual: $-3,497/yr
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• 1% rule: 0.85%
• Cash to close: $100,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $360k.
• 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).
• It's been on market 23 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $307k (14.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($2k loan paydown + $1k appreciation (0.4% local appreciation)).
• 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); 595 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).
• 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.
• 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.
• This rent runs 33% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.