955 Knox Mcrae Dr · Titusville, FL 32780

$2,399,000

640 bd · 400.0 ba · 15,488 sqft · MultiFamily public records · 217 Days on market

Built 1969 0.91 ac 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Coquina Court Apartments is a 20-unit multifamily community located in Titusville, Florida. The property features a single concrete block building constructed in 1969 and offers a mix of 12 two-bedroom/one-bath units and 8 one-bedroom/one-bath units. Recent ownership improvements include $30,000 in roof work. Tenants pay their own electric, while the owner covers water, resulting in a simplified utility structure for investors. Titusville, in Brevard County, is known as “Space City, USA” due to its strong ties to the aerospace industry. The city is experiencing significant economic growth, with a new aerospace company bringing 1,347 jobs over the next four years, plus an estimat

Key facts

• Roof work
• 0.91 acre lot
• Built 1969

Tags

• 20 UNIT MULTIFAMILY COMMUNITY
• SINGLE CONCRETE BLOCK BUILDING
• RECENT OWNERSHIP IMPROVEMENTS
• ROOF WORK
• SIMPLIFIED UTILITY STRUCTURE

Property features AI

Finance

• Other: Property classified as multi-family 20-unit property (12 two-bedrooms, 8 one-bedrooms); Unit breakdown: twelve 2-bedroom units (~800 heated area), eight 1-bedroom units (~655 heated area); Pro forma rents listed for unit types (example pro forma values reported)
• Financial info: Gross income reported: $282,189; Annual net income reported: $184,885; Annual expenses reported: $97,304; Tenants pay electricity
• HOA & community: No HOA

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Residential income property; Multi-family (5+ units); One building on the property; Zoned R3; Lot approximately 0.91 acres
• Construction: Concrete construction; Other-style roof; Slab foundation; Built area approximately 15,488 square feet
• Exterior features: Balconies on the building; Asphalt road access

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Total of 32 bedrooms across the property (mix of 2-bedroom and 1-bedroom units)
• Flooring: No flooring details provided
• Bathrooms: One bathroom in each unit type
• Heating & cooling: Central heating; Electric heating; Central air conditioning
• Interior features: No notable interior features listed
• Laundry & utility: Shared common-area laundry

What this means for you Summary

Snapshot

• This is a 20 × 32-bed/20.0-bath units multifamily listed at $2.40M.

Deal economics

• At list price, monthly cash flow is $15k ($174k/yr) — positive. Per door: $727/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $2.40M).
• Recommended offer: $2.11M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 84/100 on livability (#42 in FL, #668 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D, employment 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.
• Market conditions: Rents rising (+1.3%/yr); 462 active listings in the ZIP; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• At $38,640/mo this rent would consume 685% of the median local household income ($68k/yr) (locally 1141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $17k of loan paydown is wiped out by about $72k 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 + 1.3% rent growth), your $672k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($2.11M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y 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 $1.25M; list at $2.40M implies a 92% gain — meaningful room to come down on a strong offer.

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 $2,111,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.61% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.96%
• DSCR: 2.16
• GRM: 5.2

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: 17.7%
• Equity multiple: 1.70×
• Total profit: $471,693
• Equity at exit: $357,699

10-year hold

• IRR: 25.0%
• Equity multiple: 3.00×
• Total profit: $1,344,303
• Equity at exit: $207,422

Cash invested: $671,720 (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 32780

• Rents YoY: 1.3%
• Active inventory: 462
• Price-to-rent: 103.5×

Monthly cashflow live

• Estimated rent: $38,640 medium
• Mortgage (P&I): −$12,581
• Tax from tax record: −$2,413 /mo · $28,955/yr
• Insurance: −$1,000
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,114
• Net cashflow: $14,533

Break-even live

Break-even rent $20,244

Max offer price $2,399,000

Occupancy floor 57%

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	32	20	$38,640
Total (20 units)			$38,640

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: $599,750
• Closing costs: $71,970
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $2,399,000 Active 217 DOM
2. 2026-06-17
   days on market $2,399,000 Active 216 DOM
3. 2026-06-16
   days on market $2,399,000 Active 215 DOM
4. 2026-06-15
   days on market $2,399,000 Active 214 DOM
5. 2026-06-14
   days on market $2,399,000 Active 212 DOM
6. 2026-06-10
   days on market $2,399,000 Active 209 DOM
7. 2026-06-08
   days on market $2,399,000 Active 207 DOM
8. 2026-06-07
   days on market $2,399,000 Active 206 DOM
9. 2026-06-05
   days on market $2,399,000 Active 203 DOM
10. 2026-06-03
    days on market $2,399,000 Active 202 DOM
11. 2026-06-02
    days on market $2,399,000 Active 201 DOM
12. 2026-06-01
    days on market $2,399,000 Active 200 DOM
13. 2026-05-31
    days on market $2,399,000 Active 199 DOM
14. 2026-05-31
    days on market $2,399,000 Active 198 DOM
15. 2026-04-14
    price $2,399,000
16. 2026-03-16
    status Active
17. 2025-12-29
    status Pending
18. 2025-08-28
    listed $2,500,000 Active
19. 2024-05-26
    historical $1,195
20. 2024-05-15
    listed $1,195
21. 2024-05-15
    historical $1,195
22. 2024-04-23
    listed $1,195
23. 2024-03-14
    historical $1,050
24. 2024-02-02
    listed $1,050
25. 2024-01-02
    historical $1,050
26. 2024-01-02
    listed $1,050
27. 2023-12-29
    historical $1,050
28. 2023-12-23
    listed $1,050
29. 2023-11-30
    historical $1,095
30. 2023-11-30
    listed $1,095
31. 2018-09-12
    soldstatus $1,250,000
32. 2016-07-01
    historical
33. 2016-06-06
    listed $850,000
34. 2015-01-30
    soldstatus $615,000
35. 2000-11-22
    soldstatus $450,000
36. 1985-01-01
    soldstatus $575,000

ⓘ 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: $28,955 · $2,413/mo
• Projected year-2 tax: $28,955 · $2,413/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥108°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: $463,680
• − Mortgage interest: −$134,381
• − Property taxes: −$28,955
• − Insurance: −$11,995
• − Repairs & maintenance: −$37,094
• − Management: −$37,094
• − Depreciation: −$69,789
• Taxable income: $144,371
• Est. tax owed @ 24.0%: −$34,649
• After-tax cash flow: $139,741/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 — Titusville

• Score: 84/100
• State rank: #42
• US rank: #668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Titusville, FL
• County: Brevard County · 602,871 people
• City population: 60,286
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 40,064
• Household income: $67,690
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1141.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -162.54%
• Current HPI: 297.151
• 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

+317.2% since first listed

22 events — show timeline

• 2026-04-14 Price Changed $2,399,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-28 Listed $2,500,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-26 Rental Removed $1,195 APPFOLIO
• 2024-05-15 Listed for Rent $1,195 APPFOLIO
• 2024-05-15 Rental Removed $1,195 APPFOLIO
• 2024-04-23 Listed for Rent $1,195 APPFOLIO
• 2024-03-14 Rental Removed $1,050 APPFOLIO
• 2024-02-02 Listed for Rent $1,050 APPFOLIO
• 2024-01-02 Rental Removed $1,050 APPFOLIO
• 2024-01-02 Listed for Rent $1,050 APPFOLIO
• 2023-12-29 Rental Removed $1,050 APPFOLIO
• 2023-12-23 Listed for Rent $1,050 APPFOLIO
• 2023-11-30 Rental Removed $1,095 APPFOLIO
• 2023-11-30 Listed for Rent $1,095 APPFOLIO
• 2018-09-12 Sold (Public Records) $1,250,000 Public Records
• 2016-07-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-06-06 Listed $850,000 Stellar MLS as Distributed by MLS Grid
• 2015-01-30 Sold (Public Records) $615,000 Public Records
• 2000-11-22 Sold (Public Records) $450,000 Public Records
• 1985-01-01 Sold (Public Records) $575,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $28,955 · +4.8% YoY. Source: county tax records.