981 Le Baron St SW · Palm Bay, FL 32908

$361,250

4 bd · 3.0 ba · 2,117 sqft · Land · 60 Days on market

Built 2026 10,019 sqft lot ↓ 57% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Own your dream home with just $1,000 down--plus ALL closing costs paid when you use our preferred lender (excludes escrow & prepaids)! Welcome to the stunning ''Jack N' Jill'' model--this brand-new 4-bedroom, 3-bath home offers an open-concept layout designed for modern living. Enjoy a spacious great room, vaulted ceilings, upgraded flooring, and a bright formal dining area. The chef-inspired kitchen features a massive 10' island, soft-close cabinetry with crown molding, stainless steel appliances, and sleek black finishes. Two guest bedrooms share a convenient Jack & Jill bath--perfect for families! Relax in your private primary suite with a soaking tub, separate shower, and la

Key facts

• Open floor plan
• Huge island
• Soft close cabinets

Tags

• OPEN FLOOR PLAN
• COVERED BACK PATIO
• HUGE ISLAND
• SOFT CLOSE CABINETS
• CROWN MOLDING
• PREMIUM BLACK FIXTURES

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $361k.

Deal economics

• At list price, monthly cash flow is $-528 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (31.0% below list).
• Recommended offer: $249k (31.0% 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: Jupiter Elementary School (math 41% / reading 42%, grade F, #1,437 of 2,144 statewide, top 68%, 732 students, 68% FRL); Central Middle School (math 50% / reading 48%, grade C-, #265 of 571 statewide, top 48%, 1,127 students, 53% FRL); Heritage High School (math 30% / reading 44%, grade F, #340 of 667 statewide, top 52%, 2,007 students, 62% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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); 1020 active listings in the ZIP; 17 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).
• This rent runs 38% 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 $11k 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

• It's been on market 60 days — a 3% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $249,133 (31.0% 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. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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: 0.69% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.27%
• DSCR: 0.72
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -29.0%
• Equity multiple: 0.05×
• Total profit: $-96,367
• Equity at exit: $53,864

10-year hold

• IRR: -37.6%
• Equity multiple: -0.42×
• Total profit: $-143,805
• Equity at exit: $31,234

Cash invested: $101,150 (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 32908

• Home prices YoY: -10.4%
• Rents YoY: 1.3%
• Active inventory: 1020
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,491 high
• Mortgage (P&I): −$1,894
• Tax est. 1.5%: −$452 /mo · $5,419/yr
• Insurance: −$151
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $-528

Break-even live

Break-even rent $3,160

Max offer price $284,794

Occupancy floor —

Sensitivity live

Price	-10% $-279	-5% $-404	+0% $-528	+5% $-653	+10% $-778
Rent	-10% $-725	-5% $-627	+0% $-528	+5% $-430	+10% $-332
Rate	-1.0pp $-346	-0.5pp $-436	base $-528	+0.5pp $-622	+1.0pp $-717

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: $90,312
• Closing costs: $10,838
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
746 Harriet Ave SW Palm Bay, FL	4.0	3.0	2155	$2,550	$1.18	25d	1	0.42mi
1037 Garvey Rd SW Palm Bay, FL	4.0	3.0	1850	$2,516	$1.36	15d	1	0.52mi
1023 Garvey Rd SW Palm Bay, FL	4.0	2.0	1750	$2,296	$1.31	15d	1	0.73mi
Town Rd SW Palm Bay, FL	3.0	2.0	1600	$1,995	$1.25	25d	1	0.74mi
591 Darien Ave SW Palm Bay, FL	4.0	2.0	2076	$2,750	$1.32	25d	1	0.83mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	22d	1	0.93mi
436 Wimpole Ln SW Palm Bay, FL	4.0	2.0	1806	$2,300	$1.27	25d	1	0.96mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	25d	1	0.97mi
340 Wendover Rd SW Palm Bay, FL	4.0	2.0	2052	$2,200	$1.07	25d	1	1.11mi
1850 Jupiter Blvd SW Unit 20 Palm Bay, FL	4.0	3.0	2203	$2,200	$1.00	25d	1	1.16mi
487 Wiltshire Ave SW Palm Bay, FL	3.0	2.0	1462	$2,300	$1.57	25d	1	1.20mi
271 Wendover Rd SW Palm Bay, FL	3.0	2.0	1425	$1,900	$1.33	25d	1	1.23mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	15d	1	1.24mi
263 Trilby Rd SW Palm Bay, FL	4.0	3.0	2000	$2,500	$1.25	25d	1	1.24mi
191 Turk Rd SW Palm Bay, FL	4.0	2.0	1604	$2,485	$1.55	25d	1	1.36mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	15d	1	1.39mi
1091 Wing Rd SW Palm Bay, FL	4.0	3.0	2000	$2,500	$1.25	25d	1	1.40mi

Listing history 7 events

1. 2026-04-23
   status Pending
2. 2026-04-10
   status Active
3. 2026-04-09
   historical
4. 2026-04-01
   price $361,250
5. 2026-03-14
   price $360,250
6. 2026-02-21
   listed $355,250 Active
7. 1997-10-17
   soldstatus $847,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,896
• − Mortgage interest: −$20,236
• − Property taxes: −$5,419
• − Insurance: −$1,806
• − Repairs & maintenance: −$2,392
• − Management: −$2,392
• − Depreciation: −$10,509
• Taxable loss: −$12,857
• Est. tax savings @ 24.0%: +$3,086
• After-tax cash flow: $-3,255/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): 16,535
• Household income: $79,596
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 112.0

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 0.69)
• 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

Price history

-57.3% since first listed

7 events — show timeline

• 2026-04-23 Pending — SCMLS
• 2026-04-10 Relisted — SCMLS
• 2026-04-09 Listing Removed — SCMLS
• 2026-04-01 Price Changed $361,250 SCMLS
• 2026-03-14 Price Changed $360,250 SCMLS
• 2026-02-21 Listed $355,250 SCMLS
• 1997-10-17 Sold (Public Records) $847,000 Public Records