652 SW Richmond Cir SW · Palm Bay, FL 32908

$297,990

3 bd · 2.0 ba · 1,443 sqft · SingleFamily · 10 Days on market

Built 2026 Good condition 6,098 sqft lot 2-car garage $207/sqft · 6% below area Est $318k · 6% under $123/mo HOA · 6% of rent

---

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).

• ARV discount +10.3/15.0
• Cash flow +7.1/30.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• 1% rule +2.5/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing the Palmetto, a floorplan from our Value collection designed with families in mind. This home offers a well-thought-out layout featuring 3 bedrooms, 2 full bathrooms, and a spacious 2-car garage. The split plan of the Palmetto ensures a welcoming master suite with ample privacy from the other two bedrooms. The Owner's Suite boasts a full bath and a walk-in closet, providing a comfortable and relaxing retreat. For added convenience, the laundry room is just steps away and offers direct access to the 2-car garage. The open concept kitchen and great room create an inviting and versatile space, ideal for memorable family gatherings.

Key facts

• Master suite
• Open concept kitchen
• Walk-in closet

Tags

• MASTER SUITE
• FULL BATH
• WALK-IN CLOSET
• LAUNDRY ROOM
• OPEN CONCEPT KITCHEN
• GREAT ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $298k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-419 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (25.1% below list).
• Recommended offer: $223k (25.1% 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: 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 (+1.3%/yr); 1388 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 34% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $9k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,207 (25.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.75% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.03%
• DSCR: 0.73
• GRM: 11.1

CMA / ARV

• ARV (median comp): $317,538
• List price: $297,990
• Delta: -6.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 SW Richmond Cir SW	0.00mi	3/2.0	1,443 (0%)	2mo	$310,390	$215	98
525 Lang Rd SW	0.11mi	3/2.0	1,552 (+8%)	1mo	$297,690	$192	81
442 Fairbanks St #32	0.33mi	3/2.0	1,504 (+4%)	4mo	$322,990	$215	75
419 Hamer Rd SW	0.39mi	4/2.0 (+1)	1,473 (+2%)	2mo	$320,000	$217	72
524 Corbin Cir SW	0.26mi	3/2.0	1,589 (+10%)	3mo	$365,000	$230	69
701 Banyan St SW	0.52mi	3/2.0	1,328 (-8%)	0mo	$302,865	$228	62
466 Fairbanks St SW	0.29mi	3/2.0	1,626 (+13%)	4mo	$300,000	$185	62
1900 Klebs Ave SW	0.58mi	4/2.0 (+1)	1,499 (+4%)	0mo	$321,375	$214	61
398 Falls Church St SW	0.43mi	3/2.0	1,625 (+13%)	2mo	$275,000	$169	58
1967 New York Ave SW	0.65mi	3/2.0	1,510 (+5%)	7mo	$395,000	$262	56
1920 Basinger Ave SW	0.72mi	3/2.0	1,328 (-8%)	0mo	$289,990	$218	53
610 Krome St SW	0.72mi	3/2.0	1,328 (-8%)	0mo	$300,000	$226	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.29% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.06×
• Total profit: $-78,641
• Equity at exit: $44,431

10-year hold

• IRR: -37.1%
• Equity multiple: -0.41×
• Total profit: $-117,370
• Equity at exit: $25,765

Cash invested: $83,437 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 63 active · 42 under contract
• Months of supply: 23.6 mo (4%/mo absorbed)
• Median asking: $304,990 ($198/sqft)
• Median days on market: 65 d
• This list price: 24% of active listings are priced below it
• ARV vs active asking: +11.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1388
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,232 high
• Mortgage (P&I): −$1,563
• Tax est. 1.5%: −$372 /mo · $4,470/yr
• Insurance: −$124
• HOA: −$123
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-419

Break-even live

Break-even rent $2,762

Max offer price $237,359

Occupancy floor —

Sensitivity live

Price	-10% $-213	-5% $-316	+0% $-419	+5% $-522	+10% $-625
Rent	-10% $-595	-5% $-507	+0% $-419	+5% $-331	+10% $-243
Rate	-1.0pp $-269	-0.5pp $-343	base $-419	+0.5pp $-496	+1.0pp $-575

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: $74,498
• Closing costs: $8,940
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
586 Cooper Ct SW Palm Bay, FL	3.0	2.0	1660	$2,300	$1.39	62d	1	0.19mi
427 Oakleaf St SW Palm Bay, FL	4.0	2.0	1827	$1,500	$0.82	6d	1	0.49mi
1606 De Groodt Rd SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	62d	1	0.50mi
591 Mimosa St SW Palm Bay, FL	4.0	2.0	1828	$2,000	$1.09	6d	1	0.59mi
1897 Gould Ave SW Palm Bay, FL	4.0	2.0	1555	$1,850	$1.19	119d	1	0.61mi
1241 Platt Ave SW Palm Bay, FL	4.0	2.0	1585	$2,400	$1.51	6d	1	0.71mi
1282 Amelia Ave SW Palm Bay, FL	4.0	3.0	1850	$2,141	$1.16	62d	1	0.73mi
439 Gancedo St SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	119d	1	0.73mi
521 Garbelmann St SW Palm Bay, FL	4.0	2.0	1800	$2,450	$1.36	6d	1	0.78mi
2008 Olympia Ave SW Palm Bay, FL	4.0	2.0	1828	$2,500	$1.37	119d	1	0.78mi
1733 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1865	$2,195	$1.18	117d	1	0.80mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	109d	1	0.81mi
1777 Sawgrass Dr SW Palm Bay, FL	3.0	2.0	1865	$2,095	$1.12	6d	1	0.82mi
1736 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1873	$2,000	$1.07	119d	1	0.83mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	117d	1	0.84mi
1094 Harlingen Rd SW Palm Bay, FL	2.0	2.0	1239	$1,850	$1.49	62d	1	0.93mi
1023 Garvey Rd SW Palm Bay, FL	4.0	2.0	1750	$2,296	$1.31	109d	1	1.03mi
1037 Garvey Rd SW Palm Bay, FL	4.0	3.0	1850	$2,001	$1.08	62d	1	1.04mi
1722 Elmhurst Cir SE Palm Bay, FL	3.0	2.0	1217	$1,815	$1.49	5d	1	1.05mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	119d	1	1.23mi
200 Breakwater St SE Palm Bay, FL	3.0	2.0	1312	$2,200	$1.68	62d	1	1.32mi
251 Breakwater St SE Palm Bay, FL	4.0	2.0	1650	$2,150	$1.30	62d	1	1.40mi
593 Haleybury St SW Palm Bay, FL	4.0	2.0	1824	$2,200	$1.21	3d	1	1.45mi
593 Haleybury St SW Palm Bay, FL	4.0	2.0	1824	$2,400	$1.32	6d	1	1.45mi

Property features AI

Finance

• Other: Listing status: ActiveLast modified: 2026-05-22
• Financial info: List price $321,990

Exterior

• Parking: 2-car garage (total 2 parking spaces)
• Home design: Single-family property (spec build)Palmetto floor plan
• Exterior features: Located at 652 Richmond Cir SW, Palm Bay, FL 32908

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area totaling 1,443Spec model Palmetto

Listing history 50 events

1. 2026-09-24
   days on market $297,990 Active 10 DOM
2. 2026-09-23
   days on market $297,990 Active 9 DOM
3. 2026-09-22
   days on market $297,990 Active 8 DOM
4. 2026-09-21
   days on market $297,990 Active 7 DOM
5. 2026-09-20
   days on market $297,990 Active 6 DOM
6. 2026-09-19
   days on market $297,990 Active 5 DOM
7. 2026-09-18
   days on market $297,990 Active 4 DOM
8. 2026-09-17
   days on market $297,990 Active 3 DOM
9. 2026-09-16
   days on market $297,990 Active 2 DOM
10. 2026-09-15
    days on marketlisting id $297,990 Active 1 DOM
11. 2026-09-13
    days on market $297,990 Active 120 DOM
12. 2026-09-12
    days on market $297,990 Active 119 DOM
13. 2026-09-11
    days on market $297,990 Active 118 DOM
14. 2026-09-05
    days on market $297,990 Active 112 DOM
15. 2026-09-04
    pricedays on market $297,990 Active 111 DOM
16. 2026-09-03
    days on market $321,990 Active 110 DOM
17. 2026-08-30
    days on market $321,990 Active 106 DOM
18. 2026-08-29
    days on market $321,990 Active 105 DOM
19. 2026-08-28
    days on market $321,990 Active 104 DOM
20. 2026-08-27
    days on market $321,990 Active 103 DOM
21. 2026-08-26
    days on market $321,990 Active 102 DOM
22. 2026-08-25
    days on market $321,990 Active 101 DOM
23. 2026-08-24
    days on market $321,990 Active 100 DOM
24. 2026-08-23
    days on market $321,990 Active 99 DOM
25. 2026-08-22
    days on market $321,990 Active 98 DOM
26. 2026-08-21
    days on market $321,990 Active 97 DOM
27. 2026-08-20
    days on market $321,990 Active 96 DOM
28. 2026-08-19
    days on market $321,990 Active 95 DOM
29. 2026-08-18
    days on market $321,990 Active 94 DOM
30. 2026-08-17
    days on market $321,990 Active 93 DOM
31. 2026-08-16
    days on market $321,990 Active 92 DOM
32. 2026-08-15
    days on market $321,990 Active 91 DOM
33. 2026-08-15
    days on market $321,990 Active 90 DOM
34. 2026-08-13
    days on market $321,990 Active 89 DOM
35. 2026-08-12
    days on market $321,990 Active 88 DOM
36. 2026-08-11
    days on market $321,990 Active 87 DOM
37. 2026-08-10
    days on market $321,990 Active 86 DOM
38. 2026-08-09
    days on market $321,990 Active 85 DOM
39. 2026-08-08
    days on market $321,990 Active 84 DOM
40. 2026-08-07
    days on market $321,990 Active 83 DOM
41. 2026-08-06
    days on market $321,990 Active 82 DOM
42. 2026-08-05
    days on market $321,990 Active 81 DOM
43. 2026-08-03
    days on market $321,990 Active 79 DOM
44. 2026-07-31
    days on market $321,990 Active 76 DOM
45. 2026-07-29
    days on market $321,990 Active 74 DOM
46. 2026-07-25
    days on market $321,990 Active 70 DOM
47. 2026-07-23
    days on market $321,990 Active 68 DOM
48. 2026-07-22
    days on market $321,990 Active 67 DOM
49. 2026-07-21
    days on market $321,990 Active 66 DOM
50. 2026-07-18
    days on market $321,990 Active 63 DOM

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 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: $26,785
• − Mortgage interest: −$16,692
• − Property taxes: −$4,470
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,143
• − Management: −$2,143
• − HOA: −$1,476
• − Depreciation: −$8,669
• Taxable loss: −$10,297
• Est. tax savings @ 24.0%: +$2,471
• After-tax cash flow: $-2,557/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 Est. rehab $7,215–$21,645 screening

This home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance and updates to increase its value. The highest-ROI updates would be painting the interior walls, replacing the carpet in the bedrooms, and cleaning the windows.

Value-add opportunities

• Resale Paint the interior walls — Fresh paint can make the interior look more modern and appealing. ↑
• Resale Replace the carpet in the bedrooms — Carpet can be outdated and replacing it can make the bedrooms more inviting. ↑
• Rental Clean the windows — Clean windows can make the home more attractive to potential renters and improve the overall curb appeal. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Westside Elementary School C FL #892/2,144 Nat'l #9,801/41,679 Middle Southwest Middle School F FL #373/571 Nat'l #6,151/14,009 High Bayside High School F FL #400/667 Nat'l #10,191/17,239

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

B Composite livability gradescore 72/100

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 · 623,254 people
• City population: 132,211
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own

---

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 20% Black 20% Two or more races 19%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 3% Estonian 2% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -38.22%
• Current HPI: 330.0399
• Rent YoY: ▲ 1.29%
• 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

Property features AI

Finance

• Other: Listing status: ActiveLast modified: 2026-05-22
• Financial info: List price $321,990

Exterior

• Parking: 2-car garage (total 2 parking spaces)
• Home design: Single-family property (spec build)Palmetto floor plan
• Exterior features: Located at 652 Richmond Cir SW, Palm Bay, FL 32908

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area totaling 1,443Spec model Palmetto