2087 Hidden Grove Ln #105 · Merritt Island, FL 32953

$210,000

3 bd · 2.0 ba · 1,512 sqft · Condo public records · 44 Days on market

Built 2007 $565/mo HOA · 21% 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 +15.4/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

It just doesn't get closer to the heart of Merritt Island than this!! This 3 bedroom 2 bath is not only spacious, but it has such modern features as tall ceilings, large bathrooms, brand new wood flooring, new paint and crown molding throughout. The Hidden Glenn community offers a community swimming pool as well assigned 1 car garages. Tucked away off of SR3, Hidden Glenn is just like it's name states, nice and quietly off the main road, however only minutes from everything: 10 minutes from Port Canaveral and Beaches, 30 minutes from Orlando International, near literally every great local dining and shopping option. Don't miss this one!

Key facts

• Community pool
• Wrap-around windows
• $565 HOA

Tags

• GROUND-FLOOR END UNIT
• WRAP-AROUND WINDOWS
• COMMUNITY POOL
• PRIVATE ONE-CAR GARAGE
• LOCATION CLOSE TO BEACH
• LOCATION KENNEDY SPACE CENTER

Property features AI

Finance

• HOA & community: Condo association (Hidden Glenn Condo); Monthly association fee; Association fee covers grounds and structure maintenance; Association provides grounds maintenance

Exterior

• Parking: Assigned parking; Garage (1 space)
• Utilities: Public sewer; Cable available; Electricity available; Water available
• Home design: Condominium; One level (entry level 1); Faces east; 2-story building
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Covered patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast bar; Ceiling fans; Open floor plan; Pantry; Primary bathroom with tub and separate shower; Split bedroom layout; Walk-in closets
• Laundry & utility: In-unit laundry with washer/dryer stacked; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $82 ($987/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Lewis Carroll Elementary School (math 72% / reading 70%, grade A-, #320 of 2,144 statewide, top 15%, 626 students, 38% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 219 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 36% of the median local income ($87k/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 $1k of loan paydown is wiped out by about $6k 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 44 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $167k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.48×
• Total profit: $-30,724
• Equity at exit: $31,312

10-year hold

• IRR: -7.9%
• Equity multiple: 0.53×
• Total profit: $-27,795
• Equity at exit: $18,157

Cash invested: $58,800 (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 32953

• Home prices YoY: -34.5%
• Rents YoY: 2.1%
• Active inventory: 219
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,632 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$244 /mo · $2,923/yr
• Insurance: −$88
• HOA: −$565
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $82

Break-even live

Break-even rent $2,528

Max offer price $210,000

Occupancy floor 92%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2109 Hidden Grove Ln Unit 22B Merritt Island, FL	3.0	2.0	1948	$1,900	$0.98	23d	1	0.02mi
295 Spruce Ave Unit 1526854P Merritt Island, FL	3.0	2.0	1506	$4,370	$2.90	19d	1	0.29mi
295 Spruce Ave Merritt Island, FL	3.0	2.0	1514	$3,500	$2.31	23d	1	0.29mi
1795 Dogwood Dr Merritt Island, FL	3.0	2.0	1762	$3,500	$1.99	14d	1	0.49mi
10 Bogart Pl Merritt Island, FL	3.0	2.5	1376	$2,350	$1.71	23d	1	0.65mi
2610 Via Napoli Ct Merritt Island, FL	3.0	2.0	1123	$2,400	$2.14	14d	1	0.66mi
437 Via Palermo Ct Merritt Island, FL	3.0	2.0	1375	$2,175	$1.58	23d	1	0.66mi
1527 Schoolhouse St Unit A3 Merritt Island, FL	2.0	1.0	1695	$1,350	$0.80	23d	1	0.67mi
650 Parkside Ave Merritt Island, FL	2.0	2.0	1390	$1,950	$1.40	23d	1	0.70mi
48 Bogart Pl Merritt Island, FL	2.0	1.5	1184	$1,800	$1.52	23d	1	0.70mi
43 Bogart Pl Merritt Island, FL	2.0	1.5	1172	$1,875	$1.60	23d	1	0.71mi
104 Parrotfish Ln #101 Merritt Island, FL	3.0	2.5	1487	$2,750	$1.85	23d	1	0.82mi
1525 Polaris St Merritt Island, FL	3.0	2.0	1462	$2,400	$1.64	14d	1	1.03mi
215 Artemis Blvd Merritt Island, FL	4.0	2.0	2120	$4,700	$2.22	23d	1	1.14mi
3412 Armen Dr Merritt Island, FL	3.0	2.0	2100	$3,300	$1.57	14d	1	1.46mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $210,000 Active 44 DOM
2. 2026-06-17
   days on market $210,000 Active 43 DOM
3. 2026-06-16
   days on market $210,000 Active 42 DOM
4. 2026-06-15
   days on market $210,000 Active 41 DOM
5. 2026-06-14
   days on market $210,000 Active 39 DOM
6. 2026-06-10
   days on market $210,000 Active 36 DOM
7. 2026-06-08
   days on market $210,000 Active 34 DOM
8. 2026-06-07
   days on market $210,000 Active 33 DOM
9. 2026-06-05
   days on market $210,000 Active 30 DOM
10. 2026-06-03
    days on market $210,000 Active 29 DOM
11. 2026-06-02
    days on market $210,000 Active 28 DOM
12. 2026-06-01
    days on market $210,000 Active 27 DOM
13. 2026-05-31
    days on market $210,000 Active 26 DOM
14. 2026-05-31
    days on market $210,000 Active 25 DOM
15. 2026-05-05
    listed $210,000 Active
16. 2021-05-26
    soldstatus $167,000
17. 2021-05-21
    soldstatus $167,000 Closed 644-char remark

    Show marketing remark (644 chars)

    It just doesn't get closer to the heart of Merritt Island than this!! This 3 bedroom 2 bath is not only spacious, but it has such modern features as tall ceilings, large bathrooms, brand new wood flooring, new paint and crown molding throughout. The Hidden Glenn community offers a community swimming pool as well assigned 1 car garages. Tucked away off of SR3, Hidden Glenn is just like it's name states, nice and quietly off the main road, however only minutes from everything: 10 minutes from Port Canaveral and Beaches, 30 minutes from Orlando International, near literally every great local dining and shopping option. Don't miss this one!

18. 2021-05-20
    listed Contingent 644-char remark

    Show marketing remark (644 chars)

    It just doesn't get closer to the heart of Merritt Island than this!! This 3 bedroom 2 bath is not only spacious, but it has such modern features as tall ceilings, large bathrooms, brand new wood flooring, new paint and crown molding throughout. The Hidden Glenn community offers a community swimming pool as well assigned 1 car garages. Tucked away off of SR3, Hidden Glenn is just like it's name states, nice and quietly off the main road, however only minutes from everything: 10 minutes from Port Canaveral and Beaches, 30 minutes from Orlando International, near literally every great local dining and shopping option. Don't miss this one!

19. 2021-05-20
    listed $169,999 644-char remark

    Show marketing remark (644 chars)

    It just doesn't get closer to the heart of Merritt Island than this!! This 3 bedroom 2 bath is not only spacious, but it has such modern features as tall ceilings, large bathrooms, brand new wood flooring, new paint and crown molding throughout. The Hidden Glenn community offers a community swimming pool as well assigned 1 car garages. Tucked away off of SR3, Hidden Glenn is just like it's name states, nice and quietly off the main road, however only minutes from everything: 10 minutes from Port Canaveral and Beaches, 30 minutes from Orlando International, near literally every great local dining and shopping option. Don't miss this one!

20. 2018-08-27
    soldstatus $2,400,000
21. 2018-07-06
    soldstatus $120,000 103-char remark

    Show marketing remark (103 chars)

    Beautiful Condo located in the hearth of Merritt Island. Close to shops, restaurant and 528. A MUST SEE

22. 2018-05-17
    listed $149,900 103-char remark

    Show marketing remark (103 chars)

    Beautiful Condo located in the hearth of Merritt Island. Close to shops, restaurant and 528. A MUST SEE

ⓘ 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: $2,923 · $244/mo
• Projected year-2 tax: $2,923 · $244/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $31,589
• − Mortgage interest: −$11,763
• − Property taxes: −$2,923
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − HOA: −$6,780
• − Depreciation: −$6,109
• Taxable loss: −$2,090
• Est. tax savings @ 24.0%: +$502
• After-tax cash flow: $1,489/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 46,372
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 24,759
• Household income: $87,262
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 849.0

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 13% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 2% French/Haitian/Cajun 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: ▼ -168.76%
• Current HPI: 320.1966
• Rent YoY: ▲ 2.12%
• 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

+40.1% since first listed

8 events — show timeline

• 2026-05-05 Listed $210,000 SCMLS
• 2021-05-26 Sold (Public Records) $167,000 Public Records
• 2021-05-21 Sold (MLS) $167,000 SCMLS
• 2021-05-20 Listed — SCMLS
• 2021-05-20 Listed $169,999 SCMLS
• 2018-08-27 Sold (Public Records) $2,400,000 Public Records
• 2018-07-06 Sold (MLS) $120,000 SCMLS
• 2018-05-17 Listed $149,900 SCMLS

Property tax history

+5.5%/yr

Latest (2025): $2,923 · +9.7% YoY. Source: county tax records.