1405 Fiddler Ave · Merritt Island, FL 32952

$299,900

4 bd · 2.0 ba · 1,825 sqft · SingleFamily public records · 232 Days on market

Built 1963 7,405 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come enjoy the tropical living of coastal Central Florida. Live close to the beaches and relax at home in your pool when that's too far to go. This spacious and comfortable home with four bedrooms in a split plan is just north of Audobon Elementary. Convenient to plenty of local shopping or hitting 528 to travel around the area or into Orlando, this is central Brevard living at it's best.

Key facts

• Converted garage
• Updated flooring
• Playroom

Tags

• UPDATED FLOORING
• REMODELED AREAS
• CONVERTED GARAGE
• ADDITIONAL LIVING SPACE
• HOME OFFICE
• PLAYROOM

Property features AI

Exterior

• Parking: RV access/parking; Other parking
• Security: Smoke detector(s)
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Single-family residence; One story; Faces east
• Construction: Block construction; Shingle roof
• Exterior features: Covered patio/porch; Wood fencing; In-ground private pool

Interior

• Kitchen: Convection oven; Gas range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Laminate; Terrazzo; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Primary bathroom with shower (no tub); Split bedroom floor plan; Smoke detector(s)
• Laundry & utility: In-unit laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#441 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: amenities F, commute 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: Audubon Elementary School (math 55% / reading 57%, grade C+, #832 of 2,144 statewide, top 40%, 450 students, 58% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 227 active listings in the ZIP; 5 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).
• This rent runs 39% of the median local income ($103k/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.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $192k; list at $300k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.19×
• Total profit: $15,587
• Equity at exit: $44,716

10-year hold

• IRR: 16.9%
• Equity multiple: 2.60×
• Total profit: $134,498
• Equity at exit: $25,930

Cash invested: $83,972 (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 32952

• Rents YoY: 6.5%
• Active inventory: 227
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,354 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$70 /mo · $837/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $816

Break-even live

Break-even rent $2,321

Max offer price $299,900

Occupancy floor 71%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1660 Neptune Dr Merritt Island, FL	4.0	2.0	1792	$3,200	$1.79	21d	1	0.16mi
1707 Shore Dr Merritt Island, FL	3.0	2.0	1719	$3,950	$2.30	23d	1	0.18mi
1315 Lester Ct Merritt Island, FL	3.0	2.0	1462	$2,350	$1.61	23d	1	0.61mi
540 Albatross St Merritt Island, FL	4.0	2.0	1828	$3,950	$2.16	14d	1	1.12mi
2575 Palm Lake Dr Merritt Island, FL	3.0	2.5	1684	$2,500	$1.48	23d	1	1.17mi

Listing history 22 events

1. 2026-06-18
   days on market $299,900 Active 232 DOM
2. 2026-06-17
   days on market $299,900 Active 231 DOM
3. 2026-06-16
   days on market $299,900 Active 230 DOM
4. 2026-06-15
   days on market $299,900 Active 229 DOM
5. 2026-06-14
   days on market $299,900 Active 227 DOM
6. 2026-06-10
   days on market $299,900 Active 224 DOM
7. 2026-06-08
   days on market $299,900 Active 222 DOM
8. 2026-06-07
   days on market $299,900 Active 221 DOM
9. 2026-06-05
   days on market $299,900 Active 218 DOM
10. 2026-06-03
    days on market $299,900 Active 217 DOM
11. 2026-06-02
    days on market $299,900 Active 216 DOM
12. 2026-06-01
    days on market $299,900 Active 215 DOM
13. 2026-05-31
    days on market $299,900 Active 214 DOM
14. 2026-05-31
    days on market $299,900 Active 213 DOM
15. 2025-10-28
    listed $299,900 Active
16. 2018-05-09
    soldstatus $192,000
17. 2018-05-08
    soldstatus $192,000 391-char remark

    Show marketing remark (391 chars)

    Come enjoy the tropical living of coastal Central Florida. Live close to the beaches and relax at home in your pool when that's too far to go. This spacious and comfortable home with four bedrooms in a split plan is just north of Audobon Elementary. Convenient to plenty of local shopping or hitting 528 to travel around the area or into Orlando, this is central Brevard living at it's best.

18. 2017-11-20
    listed $210,000 391-char remark

    Show marketing remark (391 chars)

    Come enjoy the tropical living of coastal Central Florida. Live close to the beaches and relax at home in your pool when that's too far to go. This spacious and comfortable home with four bedrooms in a split plan is just north of Audobon Elementary. Convenient to plenty of local shopping or hitting 528 to travel around the area or into Orlando, this is central Brevard living at it's best.

19. 2002-10-16
    soldstatus $142,500
20. 1993-12-30
    soldstatus $82,000
21. 1988-12-01
    soldstatus $69,000
22. 1988-09-01
    soldstatus $33,200

ⓘ 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: $837 · $70/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$1,653/yr (+$138/mo · 197.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $40,245
• − Mortgage interest: −$16,799
• − Property taxes: −$837
• − Insurance: −$2,297
• − Repairs & maintenance: −$3,220
• − Management: −$3,220
• − Depreciation: −$8,724
• Taxable income: $5,149
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $8,552/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 — Merritt Island

• Score: 70/100
• State rank: #441
• US rank: #7878

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment A- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merritt Island, FL
• County: Brevard County · 602,871 people
• City population: 24,834
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 21,613
• Household income: $102,726
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 199.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 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: ▼ -177.56%
• Current HPI: 323.6021
• Rent YoY: ▲ 6.53%
• 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

+803.3% since first listed

8 events — show timeline

• 2025-10-28 Listed $299,900 SCMLS
• 2018-05-09 Sold (Public Records) $192,000 Public Records
• 2018-05-08 Sold (MLS) $192,000 SCMLS
• 2017-11-20 Listed $210,000 SCMLS
• 2002-10-16 Sold (Public Records) $142,500 Public Records
• 1993-12-30 Sold (Public Records) $82,000 Public Records
• 1988-12-01 Sold (Public Records) $69,000 Public Records
• 1988-09-01 Sold (Public Records) $33,200 Public Records

Property tax history

-7.9%/yr

Latest (2025): $837 · +19.7% YoY. Source: county tax records.