847 Raymond St SE · Palm Bay, FL 32909

$284,900

3 bd · 2.0 ba · 1,273 sqft · Land · 38 Days on market

Built 2026 10,019 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 +14.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to The Poinsettia - Cozy, Smart Living Designed for You Discover The Poinsettia, a charming 3-bedroom home with a thoughtfully designed layout that feels spacious and inviting from the moment you step through the front porch and into the foyer. Two bedrooms are situated at the front of the home, while the owner's suite is tucked away at the back, offering privacy along with a walk-in closet and a private bathroom retreat. The open kitchen flows seamlessly into the dining nook and great room, maximizing every inch of this efficient 1,273-square-foot floor plan. Perfect for downsizers or those just starting their family, The Poinsettia offers all the comforts of home without any wasted space. Additional features include a 2-car garage designed to comfortably fit two vehicles-or one car plus a workspace or storage area to suit your needs. Make your new home truly yours by selecting a color package that matches your personal style. Schedule a tour with one of our dedicated representatives today and visit our model home to see why Maronda Homes is the builder for you!

Key facts

• Expansive great room
• Covered front entry
• 0.23 acre lot

Tags

• COVERED FRONT ENTRY
• EXPANSIVE GREAT ROOM
• 17X17 CERAMIC TILE FLOORING
• CHEF-INSPIRED KITCHEN
• STAINLESS STEEL APPLIANCES
• SHAKER-STYLE CABINETRY

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: Aerobic septic system; Cable available
• Home design: Single family residence; One story; Faces south; New construction
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Patio (just off the great room, concrete); Storm shutters; Smoke detectors

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Pantry; Eat-in kitchen
• Bedrooms: 3 bedrooms, all on the first floor; Primary: ensuite with walk-in shower, dual vanities, walk-in closet (carpet and ceramic tile mentioned); Bedroom 2: built-in closet (carpet); Bedroom 3: walk-in closet (carpet)
• Flooring: Carpet in bedrooms; Ceramic tile in main living areas and primary bath
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Entrance foyer; Open floorplan; Pantry; Primary bathroom with shower (no tub); Primary bedroom on the first floor; Smart home features including smart thermostat; Split bedroom layout; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $285k.

Deal economics

• At list price, monthly cash flow is $41 ($497/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (24.3% below list).
• Recommended offer: $216k (24.3% 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: Westside Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 798 students, 52% 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); 1111 active listings in the ZIP; 18 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).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 4 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 $18k; list at $285k implies a 1483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $215,562 (24.3% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.76% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 11.0

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: 24.9%
• Equity multiple: 2.99×
• Total profit: $159,109
• Equity at exit: $256,660

10-year hold

• IRR: 22.1%
• Equity multiple: 6.88×
• Total profit: $469,215
• Equity at exit: $553,498

Cash invested: $79,772 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,156 high
• Mortgage (P&I): −$1,494
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $41

Break-even live

Break-even rent $2,103

Max offer price $284,900

Occupancy floor 93%

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2691 Tepee Ave SE Palm Bay, FL	4.0	2.0	1833	$2,040	$1.11	21d	1	0.26mi
1224 Dillard Dr SE Palm Bay, FL	3.0	2.0	1770	$2,336	$1.32	14d	1	0.43mi
590 Trymore Dr SE Palm Bay, FL	4.0	2.0	1873	$2,250	$1.20	14d	1	0.50mi
1198 Venus St SE Palm Bay, FL	3.0	2.0	1535	$1,961	$1.28	21d	1	0.60mi
543 Reading St SE Palm Bay, FL	4.0	2.0	1833	$2,010	$1.10	21d	1	0.64mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	23d	1	0.75mi
2250 Chinaberry Cir SE Palm Bay, FL	3.0	2.0	1669	$1,995	$1.20	23d	1	0.88mi
2749 Freehold Ave SE Palm Bay, FL	3.0	2.0	1386	$1,800	$1.30	23d	1	0.91mi
486 Dadeville St SE Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	14d	1	0.91mi
2785 Gabboys Ave SE Palm Bay, FL	3.0	2.0	1475	$1,849	$1.25	23d	1	0.98mi
820 Tedder Rd SE Palm Bay, FL	3.0	2.0	1808	$2,000	$1.11	23d	1	1.08mi
1454 Graves St SE Palm Bay, FL	3.0	2.0	1621	$2,100	$1.30	14d	1	1.10mi
1416 Martinez St SE Palm Bay, FL	3.0	2.0	1747	$2,000	$1.14	14d	1	1.13mi
1213 Waterford St SE Palm Bay, FL	4.0	2.0	1695	$2,000	$1.18	23d	1	1.20mi
496 Vanguard St SE Palm Bay, FL	3.0	2.0	1666	$2,150	$1.29	23d	1	1.24mi
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	23d	1	1.26mi
3219 Hainsworth Ave SE Palm Bay, FL	3.0	2.0	1219	$2,100	$1.72	14d	1	1.27mi
160 Dailey St SE Palm Bay, FL	4.0	2.0	1795	$2,275	$1.27	23d	1	1.34mi

Listing history 22 events

1. 2026-06-18
   days on market $284,900 Active 38 DOM
2. 2026-06-17
   days on market $284,900 Active 37 DOM
3. 2026-06-16
   days on market $284,900 Active 36 DOM
4. 2026-06-15
   days on market $284,900 Active 35 DOM
5. 2026-06-14
   days on market $284,900 Active 33 DOM
6. 2026-06-10
   days on market $284,900 Active 30 DOM
7. 2026-06-08
   days on market $284,900 Active 28 DOM
8. 2026-06-07
   days on market $284,900 Active 27 DOM
9. 2026-06-05
   days on market $284,900 Active 24 DOM
10. 2026-06-03
    days on market $284,900 Active 23 DOM
11. 2026-06-02
    days on market $284,900 Active 22 DOM
12. 2026-06-01
    days on market $284,900 Active 21 DOM
13. 2026-05-31
    days on market $284,900 Active 20 DOM
14. 2026-05-31
    days on market $284,900 Active 19 DOM
15. 2026-05-11
    listed $284,900 Active
16. 2026-05-07
    status Active 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to The Poinsettia - Cozy, Smart Living Designed for You Discover The Poinsettia, a charming 3-bedroom home with a thoughtfully designed layout that feels spacious and inviting from the moment you step through the front porch and into the foyer. Two bedrooms are situated at the front of the home, while the owner's suite is tucked away at the back, offering privacy along with a walk-in closet and a private bathroom retreat. The open kitchen flows seamlessly into the dining nook and great room, maximizing every inch of this efficient 1,273-square-foot floor plan. Perfect for downsizers or those just starting their family, The Poinsettia offers all the comforts of home without any wasted space. Additional features include a 2-car garage designed to comfortably fit two vehicles-or one car plus a workspace or storage area to suit your needs. Make your new home truly yours by selecting a color package that matches your personal style. Schedule a tour with one of our dedicated representatives today and visit our model home to see why Maronda Homes is the builder for you!

17. 2026-05-07
    price $284,900 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to The Poinsettia - Cozy, Smart Living Designed for You Discover The Poinsettia, a charming 3-bedroom home with a thoughtfully designed layout that feels spacious and inviting from the moment you step through the front porch and into the foyer. Two bedrooms are situated at the front of the home, while the owner's suite is tucked away at the back, offering privacy along with a walk-in closet and a private bathroom retreat. The open kitchen flows seamlessly into the dining nook and great room, maximizing every inch of this efficient 1,273-square-foot floor plan. Perfect for downsizers or those just starting their family, The Poinsettia offers all the comforts of home without any wasted space. Additional features include a 2-car garage designed to comfortably fit two vehicles-or one car plus a workspace or storage area to suit your needs. Make your new home truly yours by selecting a color package that matches your personal style. Schedule a tour with one of our dedicated representatives today and visit our model home to see why Maronda Homes is the builder for you!

18. 2026-05-02
    historical 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to The Poinsettia - Cozy, Smart Living Designed for You Discover The Poinsettia, a charming 3-bedroom home with a thoughtfully designed layout that feels spacious and inviting from the moment you step through the front porch and into the foyer. Two bedrooms are situated at the front of the home, while the owner's suite is tucked away at the back, offering privacy along with a walk-in closet and a private bathroom retreat. The open kitchen flows seamlessly into the dining nook and great room, maximizing every inch of this efficient 1,273-square-foot floor plan. Perfect for downsizers or those just starting their family, The Poinsettia offers all the comforts of home without any wasted space. Additional features include a 2-car garage designed to comfortably fit two vehicles-or one car plus a workspace or storage area to suit your needs. Make your new home truly yours by selecting a color package that matches your personal style. Schedule a tour with one of our dedicated representatives today and visit our model home to see why Maronda Homes is the builder for you!

19. 2026-04-29
    listed $280,900 Active 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to The Poinsettia - Cozy, Smart Living Designed for You Discover The Poinsettia, a charming 3-bedroom home with a thoughtfully designed layout that feels spacious and inviting from the moment you step through the front porch and into the foyer. Two bedrooms are situated at the front of the home, while the owner's suite is tucked away at the back, offering privacy along with a walk-in closet and a private bathroom retreat. The open kitchen flows seamlessly into the dining nook and great room, maximizing every inch of this efficient 1,273-square-foot floor plan. Perfect for downsizers or those just starting their family, The Poinsettia offers all the comforts of home without any wasted space. Additional features include a 2-car garage designed to comfortably fit two vehicles-or one car plus a workspace or storage area to suit your needs. Make your new home truly yours by selecting a color package that matches your personal style. Schedule a tour with one of our dedicated representatives today and visit our model home to see why Maronda Homes is the builder for you!

20. 2004-05-27
    soldstatus $18,000 25-char remark

    Show marketing remark (25 chars)

    Lot 23, Block 908, PMU 22

21. 2004-05-18
    soldstatus $18,000
22. 2004-02-05
    listed $18,000 25-char remark

    Show marketing remark (25 chars)

    Lot 23, Block 908, PMU 22

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $2,365 · $197/mo
• Expected delta: +$1,780/yr (+$148/mo · 304.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $25,867
• − Mortgage interest: −$15,959
• − Property taxes: −$585
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,069
• − Management: −$2,069
• − Depreciation: −$8,288
• Taxable loss: −$4,528
• Est. tax savings @ 24.0%: +$1,087
• After-tax cash flow: $1,584/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

+1482.8% since first listed

8 events — show timeline

• 2026-05-11 Listed $284,900 SCMLS
• 2026-05-07 Price Changed $284,900 Zillow
• 2026-05-07 Relisted — Zillow
• 2026-05-02 Delisted — Zillow
• 2026-04-29 Listed $280,900 Zillow
• 2004-05-27 Sold (MLS) $18,000 SCMLS
• 2004-05-18 Sold (Public Records) $18,000 Public Records
• 2004-02-05 Listed $18,000 SCMLS

Property tax history

+17.6%/yr

Latest (2025): $585 · +95.4% YoY. Source: county tax records.