1658 Colorado St SE · Palm Bay, FL 32909

$197,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 394 Days on market

Built 1985 10,454 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 +16.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +4.7/10.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

Key facts

• Great location
• Large patio
• Quiet neighborhood

Tags

• GREAT LOCATION
• QUIET NEIGHBORHOOD
• CHAIN-LINK FENCED YARD
• BRAND NEW SEPTIC SYSTEM
• WATER FILTRATION SYSTEM
• LARGE PATIO

Property features AI

Finance

• Other: Located in city limits; paved concrete road access; Zoning: RS2
• HOA & community: No HOA reported

Exterior

• Parking: Attached garage (1 car)
• Utilities: Well water; Septic tank; Cable available; Electricity available
• Home design: Single-family residence (attached); One story; Faces southeast
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built on an 83 x 125 lot (approx. 0.24 acre)
• Exterior features: Enclosed patio; Patio; Porch; Screened porch; Hurricane shutters; Sliding doors; Mature landscaping with trees

Interior

• Kitchen: Disposal; Microwave; Range; Refrigerator; Water filtration system
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Thermostat; Window treatments
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $197k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $173k (12.2% below list).
• Recommended offer: $173k (12.2% 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: schools C-, employment D+, amenities F.
• 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 (+3.7%/yr); 1111 active listings in the ZIP; 4 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).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 394 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $166k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $173,024 (12.2% below list)

Questions for the listing agent

1. It's been on market 394 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.88% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 9.5

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: 26.5%
• Equity multiple: 3.12×
• Total profit: $116,674
• Equity at exit: $177,473

10-year hold

• IRR: 23.4%
• Equity multiple: 7.15×
• Total profit: $339,439
• Equity at exit: $382,728

Cash invested: $55,160 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$122 /mo · $1,465/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $130

Break-even live

Break-even rent $1,566

Max offer price $197,000

Occupancy floor 88%

Sensitivity live

Price	-10% $241	-5% $185	+0% $130	+5% $74	+10% $18
Rent	-10% $-7	-5% $61	+0% $130	+5% $198	+10% $266
Rate	-1.0pp $229	-0.5pp $180	base $130	+0.5pp $79	+1.0pp $27

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1430 Valerius St SE Palm Bay, FL	2.0	1.0	904	$1,750	$1.94	24d	1	0.54mi
1490 Van Buren Ave SE Palm Bay, FL	2.0	1.0	900	$1,600	$1.78	24d	1	0.68mi
1625 Santos St SE Unit A Palm Bay, FL	2.0	1.0	900	$1,350	$1.50	20d	1	0.95mi
1630 Agnes Ave SE Palm Bay, FL	3.0	2.0	924	$1,749	$1.89	20d	1	1.19mi

Listing history 21 events

1. 2026-05-31
   days on market $197,000 Active 394 DOM
2. 2026-05-31
   days on market $197,000 Active 393 DOM
3. 2025-11-08
   status Active
4. 2025-10-31
   historical

   Show marketing remark (897 chars)

   This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

5. 2025-10-31
   historical 897-char remark

   Show marketing remark (897 chars)

   This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

6. 2025-09-24
   status Active
7. 2025-09-24
   price $197,000
8. 2025-09-23
   status Active 897-char remark

   Show marketing remark (897 chars)

   This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

9. 2025-09-23
   price $197,000 897-char remark

   Show marketing remark (897 chars)

   This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

10. 2025-09-05
    historical 897-char remark

    Show marketing remark (897 chars)

    This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

11. 2025-06-02
    price $199,000 897-char remark

    Show marketing remark (897 chars)

    This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

12. 2025-05-31
    price $199,000
13. 2025-04-17
    price $205,000
14. 2025-04-06
    listed $210,000 Active
15. 2025-04-04
    listed $205,000 Active 897-char remark

    Show marketing remark (897 chars)

    This cozy 2-bedroom, 1-bath home is the perfect fit for first-time buyers or those looking to downsize in comfort. Nestled in a quiet, well-kept neighborhood, you'll enjoy the convenience of being just minutes from major shopping centers, Interstate 95, and only 20 minutes from the beach! Sitting on a spacious lot with a chain-link fenced yard, this home has been thoughtfully updated with a brand new septic system, hurricane shutters, water heater, A/C unit, water filtration system, and electric box—all the essentials for peace of mind and easy living. Step outside to relax or entertain on the large patio or unwind in the enclosed screen porch. Whether you're gardening, grilling, or enjoying Florida's beautiful weather, this yard has plenty of space to make it your own. Don't miss your chance to own this move-in ready gem—it won't last long! Schedule your showing today!

16. 2022-03-16
    soldstatus $166,000
17. 2022-03-14
    soldstatus $166,000 Closed 355-char remark

    Show marketing remark (355 chars)

    Perfect Starter or Retiree Home in nice neighborhood, close to major shopping 95 and only 20 minutes from beautiful beaches, Chain link fences yard with wonderful oak trees. Needs some updating, including federal electric box needs replacement. Solid little home with easy maintenance aluminum siding. DOG on Property so . This listing will not last long!

18. 2022-02-12
    status Pending 355-char remark

    Show marketing remark (355 chars)

    Perfect Starter or Retiree Home in nice neighborhood, close to major shopping 95 and only 20 minutes from beautiful beaches, Chain link fences yard with wonderful oak trees. Needs some updating, including federal electric box needs replacement. Solid little home with easy maintenance aluminum siding. DOG on Property so . This listing will not last long!

19. 2022-02-12
    historical Contingent 355-char remark

    Show marketing remark (355 chars)

    Perfect Starter or Retiree Home in nice neighborhood, close to major shopping 95 and only 20 minutes from beautiful beaches, Chain link fences yard with wonderful oak trees. Needs some updating, including federal electric box needs replacement. Solid little home with easy maintenance aluminum siding. DOG on Property so . This listing will not last long!

20. 2022-02-07
    listed $165,999 Active 355-char remark

    Show marketing remark (355 chars)

    Perfect Starter or Retiree Home in nice neighborhood, close to major shopping 95 and only 20 minutes from beautiful beaches, Chain link fences yard with wonderful oak trees. Needs some updating, including federal electric box needs replacement. Solid little home with easy maintenance aluminum siding. DOG on Property so . This listing will not last long!

21. 1985-05-01
    soldstatus $32,800

ⓘ 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: $1,465 · $122/mo
• Projected year-2 tax: $1,635 · $136/mo
• Expected delta: +$170/yr (+$14/mo · 11.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 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: $20,763
• − Mortgage interest: −$11,035
• − Property taxes: −$1,465
• − Insurance: −$985
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$5,731
• Taxable loss: −$1,775
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $1,982/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

+500.6% since first listed

19 events — show timeline

• 2025-11-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-10-31 Listing Removed — SCMLS
• 2025-10-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $197,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-23 Relisted — SCMLS
• 2025-09-23 Price Changed $197,000 SCMLS
• 2025-09-05 Listing Removed — SCMLS
• 2025-06-02 Price Changed $199,000 SCMLS
• 2025-05-31 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-06 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-04 Listed $205,000 SCMLS
• 2022-03-16 Sold (Public Records) $166,000 Public Records
• 2022-03-14 Sold (MLS) $166,000 SCMLS
• 2022-02-12 Pending — SCMLS
• 2022-02-12 Contingent — SCMLS
• 2022-02-07 Listed $165,999 SCMLS
• 1985-05-01 Sold (Public Records) $32,800 Public Records

Property tax history

+19.2%/yr

Latest (2025): $1,465 · +3.1% YoY. Source: county tax records.