700 Manston Dr · Melbourne, FL 32901

$39,900

1 bd · 1.0 ba · 1,200 sqft · Manufactured · 52 Days on market

Built 2002 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Foreclosure- Bank owned, Lovely updated home with attached garage.

Key facts

• 2 parking spots
• Community pool
• Built 2002

Property features AI

Finance

• Financial info: Land lease: $810; Pets allowed (number limit)
• HOA & community: Homeowners association present; Association fee includes grounds maintenance; Senior community

Exterior

• Parking: Two total parking spaces; Two covered parking spaces
• Utilities: Electricity available
• Home design: Single-story home; Resale property; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Community pool; Billiard room, bocce court, clubhouse, library, shuffleboard, trails/paths; Non-gated community

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: Rents rising (+1.7%/yr); 202 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 36% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($39k) 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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: 4.08% ✓
• Cap rate: 36.71%
• Cash-on-cash: 108.64%
• DSCR: 5.83
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.00×
• Total profit: $55,876
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 12.04×
• Total profit: $123,296
• Equity at exit: $3,450

Cash invested: $11,172 (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 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,629 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $1,011

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 33%

Sensitivity live

Price	-10% $1,039	-5% $1,025	+0% $1,011	+5% $998	+10% $984
Rent	-10% $883	-5% $947	+0% $1,011	+5% $1,076	+10% $1,140
Rate	-1.0pp $1,032	-0.5pp $1,022	base $1,011	+0.5pp $1,001	+1.0pp $991

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
356 Vesta Cir Melbourne, FL	2.0	1.0	814	$1,900	$2.33	24d	1	0.40mi
208 Seminole Ave W Unit 1 Melbourne, FL	2.0	1.0	966	$2,900	$3.00	24d	1	0.44mi
223 San Paulo Cir Unit 8-223 Melbourne, FL	2.0	2.0	1080	$1,500	$1.39	24d	1	0.45mi
101 San Paulo Cir Unit 14-101 Melbourne, FL	2.0	2.0	1220	$1,500	$1.23	15d	1	0.48mi
164 San Paulo Ct Unit 5-164 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	24d	1	0.51mi
127 San Paulo Cir Unit 1-127 Melbourne, FL	1.0	1.0	792	$1,300	$1.64	24d	1	0.52mi
126 San Paulo Cir Unit 1-126 Melbourne, FL	1.0	1.0	792	$1,275	$1.61	24d	1	0.57mi
1023 Gull Ln Melbourne, FL	1.0–3.0	1.0–2.0	1072	$1,599	$1.49	15d	31	0.66mi
135 NW Shannon Ave West Melbourne, FL	2.0	2.0	900	$1,850	$2.06	20d	1	0.71mi
49 Piney Branch Way Unit A Melbourne, FL	2.0	2.5	1288	$1,600	$1.24	15d	1	0.89mi
1914 Fletcher St Melbourne, FL	2.0	2.0	907	$1,700	$1.87	24d	1	0.95mi
600 Hickory St Melbourne, FL	2.0	1.0	912	$1,695	$1.86	22d	1	1.33mi
533 E Lincoln Ave Melbourne, FL	2.0	1.0	796	$1,800	$2.26	24d	1	1.34mi
108 E Avenue D Melbourne, FL	2.0	2.0	1087	$1,800	$1.66	24d	1	1.35mi
20 East Avenue B Apt 1 Melbourne, FL	2.0	1.0	900	$1,200	$1.33	24d	1	1.39mi
603 E New Haven Ave Melbourne, FL	1.0	1.0	1118	$1,575	$1.41	15d	1	1.44mi

Listing history 15 events

1. 2026-06-18
   days on market $39,900 Active 52 DOM
2. 2026-06-17
   days on market $39,900 Active 51 DOM
3. 2026-06-16
   days on market $39,900 Active 50 DOM
4. 2026-06-15
   days on market $39,900 Active 49 DOM
5. 2026-06-14
   days on market $39,900 Active 47 DOM
6. 2026-06-10
   days on market $39,900 Active 44 DOM
7. 2026-06-08
   days on market $39,900 Active 42 DOM
8. 2026-06-07
   days on market $39,900 Active 41 DOM
9. 2026-06-05
   days on market $39,900 Active 38 DOM
10. 2026-06-03
    days on market $39,900 Active 37 DOM
11. 2026-06-02
    days on market $39,900 Active 36 DOM
12. 2026-06-01
    days on market $39,900 Active 35 DOM
13. 2026-05-31
    days on market $39,900 Active 34 DOM
14. 2026-05-31
    days on market $39,900 Active 33 DOM
15. 2026-04-27
    listed $39,900 Active

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $19,552
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − Depreciation: −$1,161
• Taxable income: $12,230
• Est. tax owed @ 24.0%: −$2,935
• After-tax cash flow: $9,202/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab

This updated manufactured home is in good condition with minimal repairs needed. It's move-in ready and has a good resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace sliding glass doors — Improves energy efficiency and safety
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace sliding glass doors — Improves energy efficiency and safety ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

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 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 2%

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: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• 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

1 event — show timeline

• 2026-04-27 Listed $39,900 MCRTC