608 Palmetto St · Titusville, FL 32796

$475,000

9 bd · 4.0 ba · 3,016 sqft · MultiFamily public records · 1 Days on market

Built 1966 7,841 sqft lot

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Why this score? — see what drove the C 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great investment opportunity! 4 Units with coin-op laundry facility, Separate Building but there are no Washers or Dryers in place. Each unit has already been remodeled in 2017. Kitchens have Granite countertops, backsplash and stainless appliances. Tile floors throughout. All units identical.

Key facts

• 7,841 sq ft lot
• 8 parking spots
• Built 1966

Property features AI

Finance

• Other: Property currently used as multi-family investment
• Financial info: Owner pays electricity, grounds care, and taxes
• HOA & community: Association laundry amenity

Exterior

• Parking: 8 unassigned parking spaces
• Utilities: 100 Amp electric service; Public sewer; Water connected; Sewer connected; Electricity connected; Cable available
• Home design: Two-story quadruplex (multi-family investment); One building on the lot; Other structures present
• Construction: Brick and frame construction; Shingle roof
• Exterior features: Balcony; Chain link fencing; Few trees on the lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Total of 8 bedrooms
• Flooring: Tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Tile flooring throughout; Balcony
• Laundry & utility: Common area laundry with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive. Per door: $256/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).

Location & tenants

• Location reads 84/100 on livability (#42 in FL, #668 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment 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: Mims Elementary School (math 42% / reading 47%, grade F, #1,288 of 2,144 statewide, top 62%, 462 students, 80% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 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; 256 active listings in the ZIP; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• At $5,068/mo this rent would consume 90% of the median local household income ($67k/yr) (locally 403% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 9y 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 $320k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $475,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.07% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-40,039
• Equity at exit: $70,824

10-year hold

• IRR: -2.3%
• Equity multiple: 0.86×
• Total profit: $-18,646
• Equity at exit: $41,069

Cash invested: $133,000 (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 32796

• Rents YoY: 0.6%
• Active inventory: 256
• Price-to-rent: 23.4×

Monthly cashflow live

• Estimated rent: $5,068 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$547 /mo · $6,568/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,064
• Net cashflow: $768

Break-even live

Break-even rent $4,096

Max offer price $475,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,036	-5% $902	+0% $768	+5% $633	+10% $499
Rent	-10% $367	-5% $567	+0% $768	+5% $968	+10% $1,168
Rate	-1.0pp $1,007	-0.5pp $888	base $768	+0.5pp $644	+1.0pp $519

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,067
Total (3 units)			$5,068

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-15
   remarks 295-char remark
2. 2026-06-15
   listed $475,000 Active 1 DOM

ⓘ 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: $6,568 · $547/mo
• Projected year-2 tax: $6,568 · $547/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $60,816
• − Mortgage interest: −$26,607
• − Property taxes: −$6,568
• − Insurance: −$2,375
• − Repairs & maintenance: −$4,865
• − Management: −$4,865
• − Depreciation: −$13,818
• Taxable income: $1,717
• Est. tax owed @ 24.0%: −$412
• After-tax cash flow: $8,798/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 — Titusville

• Score: 84/100
• State rank: #42
• US rank: #668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Titusville, FL
• County: Brevard County · 602,871 people
• City population: 60,286
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

+400.0% since first listed

22 events — show timeline

• 2026-06-15 Listed $475,000 SCMLS
• 2025-01-02 Pending — SCMLS
• 2024-09-18 Listing Removed — MARMLS
• 2024-08-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-08-09 Contingent — MARMLS
• 2024-08-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-08-09 Contingent — SCMLS
• 2024-08-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-08-09 Pending — MARMLS
• 2024-08-09 Pending — SCMLS
• 2024-08-09 Listing Removed — SCMLS
• 2024-08-09 Listing Removed — SCMLS
• 2024-08-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-07-12 Listed $499,000 SCMLS
• 2024-07-12 Listed $499,000 MARMLS
• 2024-07-12 Listed $499,000 Stellar MLS as Distributed by MLS Grid
• 2018-04-11 Sold (Public Records) $320,000 Public Records
• 2018-04-02 Sold (MLS) $320,000 SCMLS
• 2017-11-29 Listed $329,900 SCMLS
• 1997-04-10 Sold (Public Records) $60,000 Public Records
• 1996-08-21 Sold (Public Records) $80,000 Public Records
• 1991-01-01 Sold (Public Records) $95,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $6,568 · +7.1% YoY. Source: county tax records.