259 Eldron Blvd SE · Palm Bay, FL 32909

$354,000

4 bd · 2.0 ba · 1,828 sqft · Land · 149 Days on market

Built 2026 10,019 sqft lot ↓ 4% 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
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.3/10.0

Listing remarks

Introducing the Cali floorplan in Palm Bay, Florida, combining sophistication and comfort. Located in a boat and RV-friendly area, this property offers unmatched convenience and flexibility—without HOA restrictions. This 4-bedroom, 2-bathroom home spans 1,828 square feet with quartz countertops and luxury vinyl plank floors throughout main living and wet areas. The open-concept layout connects the living room, dining area, and kitchen, perfect for entertaining. Large windows fill the living room with natural light and scenic views. The kitchen features quartz countertops, an oversized single bowl undermount sink, stainless-steel appliances, a walk-in pantry, and a large island with a

Key facts

• Natural light
• Separate shower
• Ensuite bathroom

Tags

• OPEN-CONCEPT LAYOUT
• NATURAL LIGHT
• WALK-IN PANTRY
• ENSUITE BATHROOM
• DUAL UNDERMOUNT SINKS
• SEPARATE SHOWER

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: Aerobic septic; Thermostat (energy efficient feature); Other utilities
• Home design: Single family residence; One story; North-facing; New construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Porch; Storm shutters

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Smart thermostat
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Pantry; Smart thermostat; Split bedroom layout; Walk-in closet(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $354k.

Deal economics

• At list price, monthly cash flow is $-312 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (37.1% below list).
• Recommended offer: $222k (37.1% 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: John F. Turner Senior Elementary School (math 38% / reading 43%, grade F, #1,471 of 2,144 statewide, top 69%, 543 students, 69% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 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 rising (+3.7%/yr); 1111 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 33% 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 + $35k 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 ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($312k) 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 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,500 (37.1% 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 149 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: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• 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: 21.7%
• Equity multiple: 2.76×
• Total profit: $174,223
• Equity at exit: $318,911

10-year hold

• IRR: 19.7%
• Equity multiple: 6.36×
• Total profit: $531,454
• Equity at exit: $687,744

Cash invested: $99,120 (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: $2,225 high
• Mortgage (P&I): −$1,856
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-312

Break-even live

Break-even rent $2,620

Max offer price $298,842

Occupancy floor —

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: $88,500
• Closing costs: $10,620
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Algiers Ave SE Palm Bay, FL	3.0	2.0	1306	$1,825	$1.40	23d	1	0.07mi
272 Aquarius Ave SE Palm Bay, FL	4.0	2.0	1650	$1,995	$1.21	23d	1	0.09mi
490 Hatcher St SE Palm Bay, FL	4.0	2.0	1833	$2,150	$1.17	21d	1	0.25mi
154 Anderson Ave NE Unit 154 Palm Bay, FL	3.0	2.0	1414	$1,800	$1.27	13d	1	0.50mi
214 Eldron Blvd NE Palm Bay, FL	3.0	2.0	1646	$2,075	$1.26	23d	1	0.54mi
309 Cactus St SE Palm Bay, FL	4.0	2.0	1846	$2,195	$1.19	14d	1	0.57mi
171 Okeefe St SE Palm Bay, FL	3.0	2.0	1288	$1,855	$1.44	14d	1	0.66mi
296 Croquet Ave NE Palm Bay, FL	4.0	2.0	2028	$2,300	$1.13	21d	1	0.76mi
481 Firestone St NE Palm Bay, FL	4.0	2.0	1504	$2,100	$1.40	23d	1	0.92mi
334 Bordeaux Ave NE Palm Bay, FL	4.0	2.0	2083	$2,250	$1.08	14d	1	0.96mi
743 Andrew St SE Palm Bay, FL	3.0	2.0	1252	$1,895	$1.51	23d	1	1.00mi
463 Eldron Blvd NE Palm Bay, FL	4.0	2.0	1870	$2,800	$1.50	23d	1	1.03mi
210 Meehan Ave NW Palm Bay, FL	3.0	2.0	2020	$1,895	$0.94	14d	1	1.06mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	23d	1	1.08mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	18d	1	1.12mi
154 Daffodil Dr SW Palm Bay, FL	3.0–4.0	2.0–3.0	1384	$2,034	$1.47	14d	6	1.13mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	13d	1	1.18mi
907 Algardi St SE Palm Bay, FL	4.0	2.0	1943	$2,330	$1.20	23d	1	1.18mi
347 Americana Blvd NE Palm Bay, FL	3.0	2.0	1372	$1,900	$1.38	13d	1	1.18mi
549 Burlington Ave NE Palm Bay, FL	3.0	2.0	1608	$2,075	$1.29	14d	1	1.19mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	13d	1	1.25mi
487 Wiltshire Ave SW Palm Bay, FL	3.0	2.0	1462	$2,300	$1.57	23d	1	1.30mi
124 Evergreen St NE Palm Bay, FL	3.0	2.0	1283	$1,855	$1.45	23d	1	1.33mi
511 Trumpet St SW Palm Bay, FL	3.0	2.0	1243	$2,200	$1.77	23d	1	1.33mi
276 Americana Blvd NW Palm Bay, FL	4.0	3.0	2089	$2,500	$1.20	23d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $354,000 Active 149 DOM
2. 2026-06-17
   days on market $354,000 Active 148 DOM
3. 2026-06-16
   days on market $354,000 Active 147 DOM
4. 2026-06-15
   days on market $354,000 Active 146 DOM
5. 2026-06-14
   days on market $354,000 Active 144 DOM
6. 2026-06-10
   days on market $354,000 Active 141 DOM
7. 2026-06-08
   days on market $354,000 Active 139 DOM
8. 2026-06-07
   days on market $354,000 Active 138 DOM
9. 2026-06-05
   days on market $354,000 Active 135 DOM
10. 2026-06-03
    days on market $354,000 Active 134 DOM
11. 2026-06-02
    days on market $354,000 Active 133 DOM
12. 2026-06-01
    days on market $354,000 Active 132 DOM
13. 2026-05-31
    days on market $354,000 Active 131 DOM
14. 2026-05-31
    days on market $354,000 Active 130 DOM
15. 2026-04-21
    price $354,000
16. 2026-04-14
    price $359,000
17. 2026-03-17
    price $369,000
18. 2026-01-19
    listed $369,985 Active

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $2,938 · $245/mo
• Expected delta: +$2,145/yr (+$179/mo · 270.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 19 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: $26,700
• − Mortgage interest: −$19,830
• − Property taxes: −$793
• − Insurance: −$1,770
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − Depreciation: −$10,298
• Taxable loss: −$10,263
• Est. tax savings @ 24.0%: +$2,463
• After-tax cash flow: $-1,284/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

-4.3% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $354,000 SCMLS
• 2026-04-14 Price Changed $359,000 SCMLS
• 2026-03-17 Price Changed $369,000 SCMLS
• 2026-01-19 Listed $369,985 SCMLS