862 Cynthia St SE #9 · Palm Bay, FL 32909

$359,960

4 bd · 2.0 ba · 1,654 sqft · SingleFamily · 85 Days on market

Built 2026 10,454 sqft lot ↓ 3% since listing

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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 +5.9/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0

Listing remarks

MOVE-IN READY! City Water & Sewer! Brand-new construction home blends elegance, comfort, and modern convenience. Built with durable block and stucco construction, open floor plan offers 4 bedrooms, 2 baths, and 1,654 sq. ft. of thoughtfully designed living space. Vaulted ceilings in the kitchen, dining, and living areas enhance the spacious feel, while Hatteras White cabinets and Ornamental White Granite countertops add sophistication. The entire home is adorned with floating luxury vinyl plank flooring, ensuring both style and durability. Enjoy the Florida outdoors with a 10' x 10' covered porch. A premium stainless-steel appliance package is INCLUDED, featuring 24.3 cubic foot side

Key facts

• Covered porch
• Open floor plan
• New construction

Tags

• NEW CONSTRUCTION
• BLOCK AND STUCCO CONSTRUCTION
• OPEN FLOOR PLAN
• VAULTED CEILINGS
• HATTERAS WHITE CABINETS
• COVERED PORCH

Property features AI

Exterior

• Parking: 2-car garage with garage door opener
• Utilities: Public sewer; Cable available; Electricity available; Sewer available; Water available
• Home design: Single family residence; New construction; North-facing
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Patio; Cleared lot

Interior

• Kitchen: Convection oven; Electric cooktop; Microwave; Dishwasher; Disposal; Refrigerator; Ice maker
• Bedrooms: 4 bedrooms, all on the first floor
• Flooring: Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9 total rooms; Luxury vinyl plank flooring throughout
• Laundry & utility: Unfurnished (no built-in washer/dryer listed)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-707 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (37.4% below list).
• Recommended offer: $225k (37.4% 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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 1111 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% 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 $38k of equity ($2k loan paydown + $36k 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 ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.

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 $225,421 (37.4% 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. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.63% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 13.3

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: 18.5%
• Equity multiple: 2.51×
• Total profit: $152,593
• Equity at exit: $324,280

10-year hold

• IRR: 17.3%
• Equity multiple: 5.84×
• Total profit: $488,018
• Equity at exit: $699,323

Cash invested: $100,789 (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: 13.3×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,399/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $-707

Break-even live

Break-even rent $3,149

Max offer price $257,689

Occupancy floor —

Sensitivity live

Price	-10% $-458	-5% $-582	+0% $-707	+5% $-831	+10% $-956
Rent	-10% $-885	-5% $-796	+0% $-707	+5% $-618	+10% $-529
Rate	-1.0pp $-525	-0.5pp $-615	base $-707	+0.5pp $-800	+1.0pp $-895

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: $89,990
• Closing costs: $10,799
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	24d	1	0.19mi
741 Frisco St SE Palm Bay, FL	3.0	2.0	1156	$1,950	$1.69	24d	1	0.42mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	24d	1	0.43mi
84 San Filippo Dr SE Palm Bay, FL	1.0–3.0	1.0–2.0	1052	$2,044	$1.94	15d	30	0.69mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	22d	1	0.76mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	15d	8	0.80mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	24d	1	0.92mi
721 Taluga Ave SE Palm Bay, FL	3.0	2.0	1556	$1,800	$1.16	24d	1	0.92mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	15d	1	0.99mi
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	24d	1	1.00mi
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	22d	1	1.00mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	24d	1	1.02mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	15d	1	1.04mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	20d	1	1.08mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	24d	1	1.10mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	15d	1	1.15mi
334 Bordeaux Ave NE Palm Bay, FL	4.0	2.0	2083	$2,250	$1.08	15d	1	1.17mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	24d	1	1.24mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	20d	1	1.24mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	24d	1	1.26mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	15d	1	1.28mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	24d	1	1.34mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	20d	1	1.36mi
194 Holiday Park Blvd NE Palm Bay, FL	3.0	2.0	1404	$1,695	$1.21	24d	1	1.36mi
1391 Nolan St NE Palm Bay, FL	3.0	2.0	1176	$1,830	$1.56	20d	1	1.39mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	15d	1	1.41mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	15d	1	1.42mi
481 Firestone St NE Palm Bay, FL	4.0	2.0	1504	$2,100	$1.40	24d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $359,960 Active 85 DOM
2. 2026-06-17
   days on market $359,960 Active 84 DOM
3. 2026-06-16
   days on market $359,960 Active 83 DOM
4. 2026-06-15
   days on market $359,960 Active 82 DOM
5. 2026-06-14
   days on market $359,960 Active 80 DOM
6. 2026-06-10
   days on market $359,960 Active 77 DOM
7. 2026-06-08
   days on market $359,960 Active 75 DOM
8. 2026-06-07
   days on market $359,960 Active 74 DOM
9. 2026-06-05
   days on market $359,960 Active 71 DOM
10. 2026-06-03
    days on market $359,960 Active 70 DOM
11. 2026-06-02
    days on market $359,960 Active 69 DOM
12. 2026-06-01
    days on market $359,960 Active 68 DOM
13. 2026-05-31
    days on market $359,960 Active 67 DOM
14. 2026-05-31
    days on market $359,960 Active 66 DOM
15. 2026-04-04
    price $359,960
16. 2026-03-26
    listed $369,960 Active

ⓘ 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 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: $27,051
• − Mortgage interest: −$20,163
• − Property taxes: −$5,399
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$10,472
• Taxable loss: −$15,112
• Est. tax savings @ 24.0%: +$3,627
• After-tax cash flow: $-4,854/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

Price history

-2.7% since first listed

2 events — show timeline

• 2026-04-04 Price Changed $359,960 SCMLS
• 2026-03-26 Listed $369,960 SCMLS