138 Mcneela Dr #138 · Titusville, FL 32796

$149,900

2 bd · 1.5 ba · 1,120 sqft · Condo public records · 44 Days on market

Built 1987 $265/mo HOA · 17% 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property rented, removed from Market.

Key facts

• Soft close drawers
• White cabinets
• Shared tub shower

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• WHITE CABINETS
• SOFT CLOSE DRAWERS
• JACK AND JILL BATHROOM
• SHARED TUB SHOWER

Property features AI

Finance

• Other: Unit is unfurnished
• HOA & community: Has association (Treder Realty); Monthly association fee of $265; Association provides additional amenities

Exterior

• Parking: Assigned parking; Guest parking; Off-street parking; Additional parking available
• Utilities: Public sewer; Cable available; Electricity available; Water available
• Home design: Condominium (attached property); Two-story; Entry level: 1; North-facing
• Construction: Stucco construction; Built on foundation (year built not provided)
• Exterior features: Patio; Porch; Screened porch

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Jack and Jill bath
• Laundry & utility: Stacked washer/dryer; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-22 ($-268/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (2.6% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.

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; 259 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 ($145k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 16y 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 $52k; list at $150k implies a 188% gain — meaningful room to come down on a strong offer.

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 $145,403 (3.0% 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 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 8.0

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: -20.6%
• Equity multiple: 0.30×
• Total profit: $-29,269
• Equity at exit: $22,351

10-year hold

• IRR: -22.0%
• Equity multiple: 0.02×
• Total profit: $-41,198
• Equity at exit: $12,961

Cash invested: $41,972 (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: 259
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$786
• Tax from tax record: −$149 /mo · $1,794/yr
• Insurance: −$62
• HOA: −$265
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-22

Break-even live

Break-even rent $1,599

Max offer price $145,951

Occupancy floor 96%

Sensitivity live

Price	-10% $63	-5% $20	+0% $-22	+5% $-65	+10% $-107
Rent	-10% $-146	-5% $-84	+0% $-22	+5% $40	+10% $102
Rate	-1.0pp $53	-0.5pp $16	base $-22	+0.5pp $-61	+1.0pp $-101

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Rockpit Rd Titusville, FL	2.0	1.0	700	$1,050	$1.50	25d	1	0.28mi
537 Rockpit Rd Titusville, FL	2.0	1.0	768	$1,050	$1.37	25d	1	0.33mi
1588 South St Titusville, FL	2.0	1.0	860	$1,000	$1.16	25d	1	0.44mi
230 N Robbins Ave Titusville, FL	2.0	1.0	880	$1,100	$1.25	25d	1	0.49mi
2008 Vaughn St Titusville, FL	3.0	1.5	1198	$1,850	$1.54	25d	1	0.51mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,200	$1.69	25d	1	0.74mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,300	$1.76	16d	1	0.74mi
915 S Park Ave Titusville, FL	2.0	1.0	780	$1,150	$1.47	25d	1	0.78mi
405 Dummitt Ave Titusville, FL	3.0	2.0	1320	$2,150	$1.63	23d	1	0.81mi
1023 S Park Ave Titusville, FL	2.0–3.0	2.0	1002	$1,210	$1.21	15d	1	0.83mi
513 Warren St Unit 513 Titusville, FL	2.0	1.0	1410	$1,480	$1.05	25d	1	1.10mi
583 Gardenia Cir Titusville, FL	3.0	2.0	1120	$1,800	$1.61	25d	1	1.15mi
933 Gibson St Titusville, FL	3.0	1.0	816	$1,275	$1.56	15d	1	1.27mi
265 W Towne Pl Titusville, FL	2.0	1.0	1128	$1,650	$1.46	25d	1	1.30mi
2745 Starlight Dr Titusville, FL	3.0	2.0	1232	$1,800	$1.46	25d	1	1.31mi
292 W Towne Pl Titusville, FL	2.0	2.5	1242	$1,450	$1.17	15d	1	1.32mi
1696 S Park Ave Titusville, FL	2.0	2.5	1300	$1,850	$1.42	25d	1	1.32mi
1640 Elizabeth Ave Titusville, FL	3.0	2.0	1319	$2,100	$1.59	25d	1	1.33mi
1105 Morse Ave Titusville, FL	3.0	2.0	1218	$1,995	$1.64	25d	1	1.34mi
1590 S Deleon Ave Titusville, FL	3.0	1.0	1072	$1,600	$1.49	25d	1	1.35mi
965 N Singleton Ave Titusville, FL	3.0	2.0	1493	$2,250	$1.51	21d	1	1.38mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-22
   days on market $149,900 Active 44 DOM
2. 2026-06-18
   days on market $149,900 Active 41 DOM
3. 2026-06-17
   days on market $149,900 Active 40 DOM
4. 2026-06-16
   days on market $149,900 Active 39 DOM
5. 2026-06-15
   days on market $149,900 Active 38 DOM
6. 2026-06-14
   days on market $149,900 Active 36 DOM
7. 2026-06-10
   days on market $149,900 Active 33 DOM
8. 2026-06-08
   days on market $149,900 Active 31 DOM
9. 2026-06-07
   days on market $149,900 Active 30 DOM
10. 2026-06-05
    days on market $149,900 Active 27 DOM
11. 2026-06-03
    days on market $149,900 Active 26 DOM
12. 2026-06-02
    days on market $149,900 Active 25 DOM
13. 2026-06-01
    days on market $149,900 Active 24 DOM
14. 2026-05-31
    days on market $149,900 Active 23 DOM
15. 2026-05-31
    days on market $149,900 Active 22 DOM
16. 2026-05-08
    listed $149,900 Active
17. 2024-08-10
    historical 37-char remark

    Show marketing remark (37 chars)

    Property rented, removed from Market.

18. 2024-07-30
    historical $1,590
19. 2024-07-23
    price $1,590
20. 2024-07-22
    price $184,900 37-char remark

    Show marketing remark (37 chars)

    Property rented, removed from Market.

21. 2024-07-21
    historical $1,650
22. 2024-07-18
    listed $1,650
23. 2024-06-24
    listed $1,650
24. 2024-01-12
    listed $195,000 Active 37-char remark

    Show marketing remark (37 chars)

    Property rented, removed from Market.

25. 2024-01-09
    historical $195,000 37-char remark

    Show marketing remark (37 chars)

    Property rented, removed from Market.

26. 2023-12-08
    historical
27. 2023-12-07
    historical
28. 2023-08-30
    price $194,900
29. 2023-08-30
    price $194,900
30. 2023-07-16
    price $199,900
31. 2023-07-15
    price $199,900
32. 2023-06-09
    listed $210,000 Active
33. 2023-06-09
    listed $210,000 Active
34. 2017-03-06
    soldstatus $52,000
35. 2017-03-03
    soldstatus $52,000
36. 2017-01-26
    listed $57,900
37. 2016-08-16
    historical
38. 2016-08-16
    historical
39. 2014-12-22
    soldstatus $30,200
40. 2014-12-19
    soldstatus $30,200
41. 2013-04-01
    listed $35,000
42. 2012-08-15
    soldstatus $30,000
43. 2012-06-29
    soldstatus $30,000
44. 2012-02-08
    listed $32,000
45. 2011-11-03
    soldstatus $22,100
46. 2011-08-13
    listed $36,000
47. 2010-02-25
    listed $52,900
48. 2003-12-26
    soldstatus $43,900
49. 1990-06-30
    soldstatus $44,900
50. 1989-01-01
    soldstatus $80,000

ⓘ 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: $1,794 · $149/mo
• Projected year-2 tax: $1,794 · $149/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $18,846
• − Mortgage interest: −$8,397
• − Property taxes: −$1,794
• − Insurance: −$750
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − HOA: −$3,180
• − Depreciation: −$4,361
• Taxable loss: −$2,650
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $368/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

+87.4% since first listed

35 events — show timeline

• 2026-05-08 Listed $149,900 SCMLS
• 2024-08-10 Listing Removed — SCMLS
• 2024-07-30 Rental Removed $1,590 SCMLS
• 2024-07-23 Price Changed $1,590 SCMLS
• 2024-07-22 Price Changed $184,900 SCMLS
• 2024-07-21 Rental Removed $1,650 RENTSPREE
• 2024-07-18 Listed for Rent $1,650 RENTSPREE
• 2024-06-24 Listed for Rent $1,650 SCMLS
• 2024-01-12 Listed $195,000 SCMLS
• 2024-01-09 Coming Soon $195,000 SCMLS
• 2023-12-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-12-07 Listing Removed — SCMLS
• 2023-08-30 Price Changed $194,900 SCMLS
• 2023-08-30 Price Changed $194,900 Stellar MLS as Distributed by MLS Grid
• 2023-07-16 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2023-07-15 Price Changed $199,900 SCMLS
• 2023-06-09 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2023-06-09 Listed $210,000 SCMLS
• 2017-03-06 Sold (Public Records) $52,000 Public Records
• 2017-03-03 Sold (MLS) $52,000 SCMLS
• 2017-01-26 Listed $57,900 SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2016-08-16 Listing Removed — SCMLS
• 2014-12-22 Sold (Public Records) $30,200 Public Records
• 2014-12-19 Sold (MLS) $30,200 SCMLS
• 2013-04-01 Listed $35,000 SCMLS
• 2012-08-15 Sold (Public Records) $30,000 Public Records
• 2012-06-29 Sold (MLS) $30,000 SCMLS
• 2012-02-08 Listed $32,000 SCMLS
• 2011-11-03 Sold (Public Records) $22,100 Public Records
• 2011-08-13 Listed $36,000 SCMLS
• 2010-02-25 Listed $52,900 SCMLS
• 2003-12-26 Sold (Public Records) $43,900 Public Records
• 1990-06-30 Sold (Public Records) $44,900 Public Records
• 1989-01-01 Sold (Public Records) $80,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $1,794 · -4.2% YoY. Source: county tax records.