2905 Denver Ave SE · Palm Bay, FL 32909

$424,900

4 bd · 3.0 ba · 2,028 sqft · Land · 28 Days on market

Built 2026 0.28 ac lot

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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 +4.8/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Beautiful OVERSIZED LOT in very popular Unit 46. In area of new homes. Hurry this lot will not last!!!See agent notes.

Key facts

• Extended wet bar
• Calcutta quartz
• Hurricane shutters

Tags

• CUSTOM FINISHES
• LARGE DESIGNER KITCHEN
• EXTENDED WET BAR
• SPLIT BEDROOM FLOOR PLAN
• CALCUTTA QUARTZ
• HURRICANE SHUTTERS

Property features AI

Finance

• Other: Pets allowed; Unfurnished

Exterior

• Parking: Attached garage with automatic opener; 3-car garage
• Security: Smoke detector(s)
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Cable available; Electricity available; Sewer available
• Home design: Single-family residence; One level; Faces west; New construction
• Construction: Block and stucco construction
• Exterior features: Covered porch; Truss backporch (other room listed); Storm shutters; Smoke detectors; Shingle roof; Cleared lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Wine cooler; Kitchen island; Pantry; Breakfast bar
• Bedrooms: 4 bedrooms; Bedroom 2 (approx. 11.2 x 13.6); Bedroom 3 (approx. 11.2 x 13.6); Bedroom 4 (approx. 11.2 x 10.0)
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Ceiling fans; Entrance foyer; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Split bedroom layout; Vaulted ceilings; Walk-in closets; Wet bar
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $425k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (43.3% below list).
• Recommended offer: $241k (43.3% 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: Sunrise Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 759 students, 58% 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-school proficiency averages 42% at this address vs 55% district-wide (-12 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); 1123 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k 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 ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 $50k; list at $425k implies a 750% 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 $240,934 (43.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.57% ✗
• Cap rate: 3.38%
• Cash-on-cash: -10.42%
• DSCR: 0.54
• GRM: 14.7

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: 17.1%
• Equity multiple: 2.41×
• Total profit: $167,290
• Equity at exit: $382,784

10-year hold

• IRR: 16.3%
• Equity multiple: 5.60×
• Total profit: $547,864
• Equity at exit: $825,487

Cash invested: $118,972 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1123
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,409 high
• Mortgage (P&I): −$2,228
• Tax est. 1.5%: −$531 /mo · $6,374/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $-1,033

Break-even live

Break-even rent $3,717

Max offer price $275,422

Occupancy floor —

Sensitivity live

Price	-10% $-739	-5% $-886	+0% $-1,033	+5% $-1,180	+10% $-1,327
Rent	-10% $-1,223	-5% $-1,128	+0% $-1,033	+5% $-938	+10% $-843
Rate	-1.0pp $-819	-0.5pp $-925	base $-1,033	+0.5pp $-1,143	+1.0pp $-1,255

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3004 Suntan Ct SE Palm Bay, FL	4.0	2.0	2388	$2,900	$1.21	25d	1	0.37mi
2877 Palisades Dr SE Palm Bay, FL	3.0	2.0	1974	$2,150	$1.09	20d	1	0.44mi
1453 Santa Anna St SE Palm Bay, FL	3.0	2.0	1994	$2,500	$1.25	16d	1	0.57mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	25d	1	0.75mi
1496 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2187	$2,440	$1.12	16d	1	0.82mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	23d	1	0.83mi
1416 Martinez St SE Palm Bay, FL	3.0	2.0	1747	$2,000	$1.14	16d	1	0.88mi
1406 Martinez St SE Palm Bay, FL	4.0	2.0	2083	$2,100	$1.01	25d	1	0.88mi
1783 Dittmer Cir SE Palm Bay, FL	4.0	2.0	2207	$2,100	$0.95	25d	1	0.95mi
1063 Grantham Ln SE Palm Bay, FL	3.0	2.0	1515	$2,000	$1.32	25d	1	1.03mi
1046 Grantham Ln SE Palm Bay, FL	4.0	2.5	2405	$3,100	$1.29	25d	1	1.07mi
1454 Graves St SE Palm Bay, FL	3.0	2.0	1621	$2,100	$1.30	16d	1	1.10mi
1165 Rabbit St SE Palm Bay, FL	3.0	2.0	1994	$1,895	$0.95	20d	1	1.10mi
1660 Lizette St SE Unit 1 Palm Bay, FL	4.0	2.0	1736	$2,199	$1.27	25d	1	1.12mi
2073 Farmhouse Rd SE Palm Bay, FL	4.0	2.0	1830	$2,133	$1.17	25d	1	1.13mi
1677 Lizette St SE Unit A Palm Bay, FL	3.0	2.0	2080	$1,900	$0.91	16d	1	1.15mi
3517 Rixford Way SE Palm Bay, FL	4.0	3.0	2562	$2,800	$1.09	25d	1	1.18mi
2183 Farmhouse Rd SE Palm Bay, FL	3.0	2.0	1676	$2,000	$1.19	25d	1	1.18mi
2242 Mantilla Ave SE Palm Bay, FL	5.0	2.0	2516	$2,176	$0.86	23d	1	1.22mi
1843 Middlebury Dr SE Palm Bay, FL	4.0	2.0	1822	$2,200	$1.21	25d	1	1.23mi
1884 Middlebury Dr SE Palm Bay, FL	3.0	2.0	1761	$2,000	$1.14	25d	1	1.25mi
1434 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1600	$2,000	$1.25	15d	1	1.33mi
3636 Aberdeen Dr SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	20d	1	1.34mi
1394 Garabaldi Cir SE Palm Bay, FL	4.0	2.0	1876	$2,500	$1.33	20d	1	1.35mi
925 Dugan Cir SE Palm Bay, FL	4.0	2.0	1830	$2,295	$1.25	15d	1	1.44mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	25d	1	1.44mi

Listing history 21 events

1. 2026-06-22
   days on market $424,900 Active 28 DOM
2. 2026-06-18
   days on market $424,900 Active 25 DOM
3. 2026-06-17
   days on market $424,900 Active 24 DOM
4. 2026-06-16
   days on market $424,900 Active 23 DOM
5. 2026-06-15
   days on market $424,900 Active 22 DOM
6. 2026-06-14
   days on market $424,900 Active 20 DOM
7. 2026-06-10
   days on market $424,900 Active 17 DOM
8. 2026-06-08
   days on market $424,900 Active 15 DOM
9. 2026-06-07
   days on market $424,900 Active 14 DOM
10. 2026-06-05
    days on market $424,900 Active 11 DOM
11. 2026-06-03
    days on market $424,900 Active 10 DOM
12. 2026-06-02
    days on market $424,900 Active 9 DOM
13. 2026-06-01
    days on market $424,900 Active 8 DOM
14. 2026-05-31
    days on market $424,900 Active 7 DOM
15. 2026-05-31
    days on market $424,900 Active 6 DOM
16. 2026-05-23
    listed $424,900 Active
17. 2005-08-10
    soldstatus $50,000
18. 2004-08-12
    soldstatus $26,500
19. 2004-07-30
    soldstatus $26,500 118-char remark

    Show marketing remark (118 chars)

    Beautiful OVERSIZED LOT in very popular Unit 46. In area of new homes. Hurry this lot will not last!!!See agent notes.

20. 2004-05-27
    listed $27,900 118-char remark

    Show marketing remark (118 chars)

    Beautiful OVERSIZED LOT in very popular Unit 46. In area of new homes. Hurry this lot will not last!!!See agent notes.

21. 1994-07-08
    soldstatus $7,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 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: $28,912
• − Mortgage interest: −$23,801
• − Property taxes: −$6,374
• − Insurance: −$2,124
• − Repairs & maintenance: −$2,313
• − Management: −$2,313
• − Depreciation: −$12,361
• Taxable loss: −$20,374
• Est. tax savings @ 24.0%: +$4,890
• After-tax cash flow: $-7,506/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

+5970.0% since first listed

6 events — show timeline

• 2026-05-23 Listed $424,900 SCMLS
• 2005-08-10 Sold (Public Records) $50,000 Public Records
• 2004-08-12 Sold (Public Records) $26,500 Public Records
• 2004-07-30 Sold (MLS) $26,500 SCMLS
• 2004-05-27 Listed $27,900 SCMLS
• 1994-07-08 Sold (Public Records) $7,000 Public Records

Property tax history

+10.9%/yr

Latest (2020): $188 · -20.6% YoY. Source: county tax records.