3150 N Harbor City Blvd #328 · Melbourne, FL 32935

$99,500

1 bd · 1.5 ba · 828 sqft · Condo public records · 119 Days on market

Built 1980 $432/mo HOA · 31% of rent

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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 +16.2/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER - This pristine 55+ RIVER VIEW condo with multiple elevators is move in ready with updated plumbing fixtures and faucets, new electrical outlets and switches, and is freshly painted to name just a few of the enhanced features. This condo shows pride of ownership from top to bottom and comes with a full-size washer and dryer, tons of storage space, and power hurricane shutters. The updated bathrooms are squeaky clean and the tile floors throughout the unit are in like new condition. The master bedroom has a walk-in closet with additional closet space and there is also an external storage unit for those hard to store items. Conveniently located close to shopping, restaurants, and grocery stores, this manicured condo complex includes a gorgeous pool and club house.

Key facts

• Screened in porch
• Clubhouse
• Large pool

Tags

• RIVERFRONT COMMUNITY
• SCREENED IN PORCH
• SIDE VIEW OF THE INDIAN RIVER
• AMPLE CLOSET SPACE
• LARGE POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Unfurnished; Senior community
• HOA & community: Association: Shady Dell Riverview South; Monthly association fee; Association amenities include elevator(s), grounds maintenance, storage, and trash; Association fee covers cable TV, insurance, internet, grounds maintenance, pest control, sewer, trash, and water

Exterior

• Parking: Assigned parking in parking lot; Additional parking available
• Utilities: Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Faces south; Entry level 3; 3 stories
• Construction: Concrete and stucco construction
• Exterior features: Balcony; Storm shutters; Rear screened porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom (entry on 3rd floor)
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Pantry; Primary bathroom with tub and shower
• Laundry & utility: In-unit laundry (stacked washer/dryer)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $52 ($629/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Zoned schools: Dr. W.J. Creel Elementary School (math 38% / reading 42%, grade F, #1,491 of 2,144 statewide, top 70%, 626 students, 72% FRL); Lyndon B. Johnson Middle School (math 40% / reading 42%, grade F, #353 of 571 statewide, top 63%, 610 students, 61% FRL); Eau Gallie High School (math 20% / reading 49%, grade F, #386 of 667 statewide, top 59%, 1,586 students, 55% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 332 active listings in the ZIP; 23 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k 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 119 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,545 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 6.92%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.43×
• Total profit: $-15,930
• Equity at exit: $14,836

10-year hold

• IRR: -16.9%
• Equity multiple: 0.22×
• Total profit: $-21,810
• Equity at exit: $8,603

Cash invested: $27,860 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,396 high
• Mortgage (P&I): −$522
• Tax from tax record: −$56 /mo · $667/yr
• Insurance: −$41
• HOA: −$432
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $52

Break-even live

Break-even rent $1,330

Max offer price $99,500

Occupancy floor 91%

Sensitivity live

Price	-10% $109	-5% $81	+0% $52	+5% $24	+10% $-4
Rent	-10% $-58	-5% $-3	+0% $52	+5% $108	+10% $163
Rate	-1.0pp $102	-0.5pp $78	base $52	+0.5pp $27	+1.0pp $0

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3150 N Harbor City Blvd #143 Melbourne, FL	2.0	2.0	1058	$1,700	$1.61	24d	1	0.03mi
1432 Parkway Dr Unit 6b Melbourne, FL	2.0	1.0	800	$1,495	$1.87	24d	1	0.03mi
1440 Parkway Dr Unit 7A Melbourne, FL	2.0	1.0	800	$1,495	$1.87	24d	1	0.05mi
1440 Parkway Dr Unit 11a Melbourne, FL	1.0	1.0	700	$1,300	$1.86	24d	1	0.05mi
3135 Shady Dell Ln Melbourne, FL	1.0–2.0	1.5–2.0	912	$1,250	$1.37	22d	4	0.11mi
3320 Rivercrest Dr Melbourne, FL	1.0–2.0	1.0–2.0	1000	$1,117	$1.12	14d	7	0.28mi
2700 Croton Rd Melbourne, FL	1.0–2.0	1.0–2.0	870	$1,375	$1.58	15d	1	0.93mi
3051 Savannah Way Melbourne, FL	1.0–2.0	1.0–2.0	927	$1,249	$1.35	15d	26	1.02mi
2201 Hampton Greens Blvd Melbourne, FL	1.0–3.0	1.0–2.0	900	$1,483	$1.65	15d	10	1.06mi
2082 Foxwood Dr Melbourne, FL	2.0	2.0	975	$1,600	$1.64	15d	1	1.17mi
2221 Pineapple Ave Unit 16 Melbourne, FL	1.0	1.0	800	$795	$0.99	24d	1	1.21mi
2414 Summerset Dr Melbourne, FL	2.0	2.0	1065	$1,450	$1.36	24d	1	1.22mi
1900 Post Rd Melbourne, FL	1.0–3.0	1.0–2.0	840	$1,359	$1.62	15d	10	1.26mi
217 Bristol Ln Melbourne, FL	2.0	2.0	890	$1,395	$1.57	24d	1	1.34mi
177 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,300	$1.46	24d	1	1.34mi
181 Ulster Ln Melbourne, FL	2.0	2.0	890	$1,400	$1.57	24d	1	1.35mi
265 Ulster Ct Melbourne, FL	1.0	1.0	602	$1,300	$2.16	24d	1	1.37mi
2504 Bogey Ln Apt C Melbourne, FL	2.0	2.0	1002	$1,500	$1.50	24d	1	1.42mi
2242 Flower Tree Cir Melbourne, FL	2.0	2.0	879	$1,300	$1.48	24d	1	1.43mi
2960 Clearlake Dr #3 Melbourne, FL	2.0	1.0	1075	$1,650	$1.53	24d	1	1.46mi
2420 Central Park Dr Melbourne, FL	1.0–3.0	1.0–2.0	1045	$1,499	$1.43	15d	11	1.46mi
109 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	22d	1	1.46mi
196 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	24d	1	1.50mi

HOA detail condo

• Monthly dues: $432 · $5,184/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-21
   status Pending
2. 2026-04-24
   price $99,500
3. 2026-03-22
   price $110,000
4. 2026-03-06
   price $119,900
5. 2026-02-18
   price $124,900
6. 2026-01-22
   listed $129,000 Active
7. 2025-12-31
   historical
8. 2025-09-23
   listed $149,900 Active
9. 2018-03-27
   soldstatus $78,500
10. 2018-03-23
    soldstatus $78,500 789-char remark

    Show marketing remark (789 chars)

    MOTIVATED SELLER - This pristine 55+ RIVER VIEW condo with multiple elevators is move in ready with updated plumbing fixtures and faucets, new electrical outlets and switches, and is freshly painted to name just a few of the enhanced features. This condo shows pride of ownership from top to bottom and comes with a full-size washer and dryer, tons of storage space, and power hurricane shutters. The updated bathrooms are squeaky clean and the tile floors throughout the unit are in like new condition. The master bedroom has a walk-in closet with additional closet space and there is also an external storage unit for those hard to store items. Conveniently located close to shopping, restaurants, and grocery stores, this manicured condo complex includes a gorgeous pool and club house.

11. 2018-02-07
    listed $87,000 789-char remark

    Show marketing remark (789 chars)

    MOTIVATED SELLER - This pristine 55+ RIVER VIEW condo with multiple elevators is move in ready with updated plumbing fixtures and faucets, new electrical outlets and switches, and is freshly painted to name just a few of the enhanced features. This condo shows pride of ownership from top to bottom and comes with a full-size washer and dryer, tons of storage space, and power hurricane shutters. The updated bathrooms are squeaky clean and the tile floors throughout the unit are in like new condition. The master bedroom has a walk-in closet with additional closet space and there is also an external storage unit for those hard to store items. Conveniently located close to shopping, restaurants, and grocery stores, this manicured condo complex includes a gorgeous pool and club house.

12. 2004-04-26
    soldstatus $58,900
13. 2002-06-27
    soldstatus $41,000
14. 2000-04-04
    soldstatus $34,000
15. 1985-09-01
    soldstatus $34,000

ⓘ 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: $667 · $56/mo
• Projected year-2 tax: $826 · $69/mo
• Expected delta: +$159/yr (+$13/mo · 23.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $16,758
• − Mortgage interest: −$5,574
• − Property taxes: −$667
• − Insurance: −$498
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − HOA: −$5,184
• − Depreciation: −$2,895
• Taxable loss: −$740
• Est. tax savings @ 24.0%: +$178
• After-tax cash flow: $806/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 — 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): 41,965
• Household income: $64,588
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1747.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -185.48%
• Current HPI: 308.7443
• Rent YoY: ▲ 0.53%
• 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

+192.6% since first listed

15 events — show timeline

• 2026-05-21 Pending — SCMLS
• 2026-04-24 Price Changed $99,500 SCMLS
• 2026-03-22 Price Changed $110,000 SCMLS
• 2026-03-06 Price Changed $119,900 SCMLS
• 2026-02-18 Price Changed $124,900 SCMLS
• 2026-01-22 Listed $129,000 SCMLS
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-23 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2018-03-27 Sold (Public Records) $78,500 Public Records
• 2018-03-23 Sold (MLS) $78,500 SCMLS
• 2018-02-07 Listed $87,000 SCMLS
• 2004-04-26 Sold (Public Records) $58,900 Public Records
• 2002-06-27 Sold (Public Records) $41,000 Public Records
• 2000-04-04 Sold (Public Records) $34,000 Public Records
• 1985-09-01 Sold (Public Records) $34,000 Public Records

Property tax history

+15.3%/yr

Latest (2025): $667 · +65.0% YoY. Source: county tax records.