1806 Dodge Cir · Melbourne, FL 32935

$199,900

3 bd · 2.0 ba · 1,325 sqft · SingleFamily public records · 1 Days on market

Built 1967 9,148 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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.7/10.0
• 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

Virtually Staged. Located in the established Ixora Park community, this single-family home presents a strong opportunity for buyers looking to add value through updates and renovations. The property features a practical layout with well-proportioned living spaces, natural light throughout, and a generous lot offering room for outdoor living or future improvements. While the home will benefit from cosmetic updates and modernization, it offers solid potential to be tailored to your vision. Conveniently situated near schools, shopping, dining, and major roadways, this centrally located Melbourne property combines accessibility with long-term upside.

Key facts

• Generous lot
• Practical layout
• Natural light

Tags

• IXORA PARK COMMUNITY
• PRACTICAL LAYOUT
• NATURAL LIGHT
• GENEROUS LOT
• OUTDOOR LIVING
• CONVENIENTLY SITUATED

Property features AI

Finance

• Other: Unfurnished; Living area reported as 1,325 sq ft (owner provided); Total building area reported as 2,278 sq ft (owner provided)
• HOA & community: Pets allowed

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Water: See remarks; Sewer: Other; Utilities: Other
• Home design: Single family residence; One story; Faces east; Residential property
• Construction: Stucco construction; Shingle roof; Slab foundation; Built on 0.21-acre lot
• Exterior features: Covered patio; Patio; Private mailbox; Asphalt road access

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Wall/Window air conditioning unit(s)
• Interior features: Open floorplan
• Laundry & utility: Laundry setup: Other

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

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: Cape View Elementary School (math 62% / reading 62%, grade B, #608 of 2,144 statewide, top 29%, 305 students, 61% FRL); Titusville High School (math 33% / reading 52%, grade F, #264 of 667 statewide, top 41%, 1,314 students, 55% FRL) — zoned schools average 58% FRL vs 43% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 332 active listings in the ZIP; 25 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).
• This rent runs 40% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $64k; list at $200k implies a 212% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 7.8

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: -11.5%
• Equity multiple: 0.59×
• Total profit: $-22,742
• Equity at exit: $29,806

10-year hold

• IRR: -6.5%
• Equity multiple: 0.63×
• Total profit: $-20,756
• Equity at exit: $17,284

Cash invested: $55,972 (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 32935

• Rents YoY: 0.5%
• Active inventory: 332
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,143 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$329 /mo · $3,951/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $232

Break-even live

Break-even rent $1,849

Max offer price $199,900

Occupancy floor 84%

Sensitivity live

Price	-10% $345	-5% $288	+0% $232	+5% $175	+10% $119
Rent	-10% $63	-5% $147	+0% $232	+5% $316	+10% $401
Rate	-1.0pp $333	-0.5pp $283	base $232	+0.5pp $180	+1.0pp $127

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1738 Cadillac Cir N Melbourne, FL	4.0	2.0	1563	$2,500	$1.60	24d	1	0.14mi
1965 Barkley Ave Melbourne, FL	3.0	1.0	1000	$1,600	$1.60	24d	1	0.23mi
758 Ixora Dr Melbourne, FL	3.0	2.5	1664	$2,700	$1.62	24d	1	0.28mi
1688 Eisenhower Ave Melbourne, FL	3.0	1.5	988	$1,700	$1.72	24d	1	0.48mi
2137 Laden Rd Melbourne, FL	3.0	2.0	1248	$2,100	$1.68	24d	1	0.50mi
715 Clarke Ave Melbourne, FL	4.0	2.0	1366	$1,975	$1.45	15d	1	0.55mi
608 Cheyenne Ave Melbourne, FL	2.0	2.0	1299	$2,000	$1.54	15d	1	0.61mi
910 Twisting Branch Ct Melbourne, FL	3.0	2.0	1600	$2,000	$1.25	24d	1	0.84mi
848 Comanche Ave Melbourne, FL	3.0	2.0	1080	$1,950	$1.81	24d	1	0.86mi
2375 Ricky Rd Melbourne, FL	4.0	2.0	1372	$2,150	$1.57	24d	1	0.91mi
1795 Kole Pl #109 Melbourne, FL	3.0	2.5	1472	$1,950	$1.32	24d	1	0.96mi
512 Dijon Dr Melbourne, FL	3.0	2.0	1800	$2,450	$1.36	24d	1	0.99mi
1455 Isabella Dr #101 Melbourne, FL	3.0	2.5	1606	$2,275	$1.42	24d	1	1.06mi
2659 Burns Ave Melbourne, FL	3.0	1.0	1044	$1,850	$1.77	24d	1	1.07mi
1513 Hendren Dr Melbourne, FL	4.0	2.0	1513	$2,335	$1.54	15d	1	1.08mi
1430 Isabella Dr #102 Melbourne, FL	3.0	2.5	1510	$2,250	$1.49	24d	1	1.09mi
1583 White Cap Way Melbourne, FL	4.0	2.0	1374	$2,350	$1.71	24d	1	1.24mi
833 Paddleboard Ct Melbourne, FL	2.0	2.5	1250	$2,700	$2.16	24d	1	1.26mi
915 Twisting Branch Ct Melbourne, FL	3.0	2.5	1625	$2,000	$1.23	24d	1	1.27mi
973 N Harbor City Blvd Unit A Melbourne, FL	2.0	2.0	1700	$4,000	$2.35	24d	1	1.27mi
2794 Rhonda Ln Melbourne, FL	2.0	2.0	996	$1,900	$1.91	24d	1	1.28mi
2806 Tropic Rd Unit 1 Melbourne, FL	3.0	2.0	1705	$1,600	$0.94	22d	1	1.42mi
196 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	24d	1	1.43mi
109 San Juan Cir Melbourne, FL	2.0	1.0	955	$1,400	$1.47	22d	1	1.46mi
500 N Wickham Rd Melbourne, FL	2.0	2.0	1000	$1,449	$1.45	15d	8	1.48mi

Listing history 2 events

1. 2026-06-18
   remarks 654-char remark
2. 2026-06-18
   listed $199,900 Active 1 DOM

ⓘ 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: $3,951 · $329/mo
• Projected year-2 tax: $3,951 · $329/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 ≥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: $25,711
• − Mortgage interest: −$11,198
• − Property taxes: −$3,951
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − Depreciation: −$5,815
• Taxable loss: −$366
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $2,870/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

+1241.6% since first listed

5 events — show timeline

• 2026-06-18 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 1998-03-04 Sold (Public Records) $64,000 Public Records
• 1982-06-01 Sold (Public Records) $56,900 Public Records
• 1981-06-01 Sold (Public Records) $54,900 Public Records
• 1968-08-01 Sold (Public Records) $14,900 Public Records

Property tax history

+9.4%/yr

Latest (2025): $3,951 · +2.8% YoY. Source: county tax records.