1045 Nova Ter · Titusville, FL 32796

$189,900

3 bd · 2.0 ba · 1,171 sqft · SingleFamily public records · 62 Days on market

Built 1980 7,405 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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.4/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Accepting Back Up Offers. Brightly painted 3 bedroom 2 bath home with many upgrades on the inside. Very well maintained with a private backyard and wood fence. Tile throughout entire home. Was owner occupied until Jan 5, 2011. Home has large closets and clean garage. School district is Madison elementary, Oak Park, and Astronaut High.

Key facts

• Newer ac
• 7,405 sq ft lot
• Garage

Tags

• NEWER AC
• HOT WATER HEATER REPLACED
• NEW FLOORING INSTALLED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

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 $190k).
• Recommended offer: $179k (6.0% 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: 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.
• Zoned schools: Oak Park Elementary School (math 36% / reading 37%, grade F, #1,656 of 2,144 statewide, top 78%, 501 students, 74% FRL); James Madison Middle School (math 39% / reading 39%, grade F, #381 of 571 statewide, top 67%, 446 students, 65% FRL); Astronaut High School (math 25% / reading 43%, grade F, #394 of 667 statewide, top 60%, 1,112 students, 51% FRL) — zoned schools average 63% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 55% district-wide (-18 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; 256 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% of the median local income ($67k/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

• It's been on market 62 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $40k; list at $190k implies a 375% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.04% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-20,638
• Equity at exit: $28,315

10-year hold

• IRR: -5.6%
• Equity multiple: 0.68×
• Total profit: $-17,074
• Equity at exit: $16,419

Cash invested: $53,172 (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 32796

• Rents YoY: 0.6%
• Active inventory: 256
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$996
• Tax from tax record: −$253 /mo · $3,035/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $232

Break-even live

Break-even rent $1,681

Max offer price $189,900

Occupancy floor 83%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2745 Starlight Dr Titusville, FL	3.0	2.0	1232	$1,800	$1.46	23d	1	0.06mi
1105 Morse Ave Titusville, FL	3.0	2.0	1218	$1,995	$1.64	23d	1	0.09mi
965 N Singleton Ave Titusville, FL	3.0	2.0	1493	$2,250	$1.51	19d	1	0.23mi
583 Gardenia Cir Titusville, FL	3.0	2.0	1120	$1,800	$1.61	23d	1	0.62mi
2008 Vaughn St Titusville, FL	3.0	1.5	1198	$1,850	$1.54	23d	1	0.86mi
609 Ward Ave Titusville, FL	3.0	2.0	1200	$1,950	$1.62	23d	1	0.93mi
292 W Towne Pl Titusville, FL	2.0	2.5	1242	$1,450	$1.17	14d	1	0.95mi
265 W Towne Pl Titusville, FL	2.0	1.0	1128	$1,650	$1.46	23d	1	0.97mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,200	$1.69	23d	1	1.08mi
102 S Christmas Hill Rd Titusville, FL	3.0	2.0	1304	$2,300	$1.76	14d	1	1.08mi
1580 Liberty Tree Rd Titusville, FL	3.0	2.0	1458	$2,145	$1.47	14d	1	1.23mi
1539 Lafayette Ave Titusville, FL	3.0	2.0	1457	$2,260	$1.55	14d	1	1.31mi
230 N Robbins Ave Titusville, FL	2.0	1.0	880	$1,100	$1.25	23d	1	1.42mi
955 N Carpenter Rd Titusville, FL	3.0	1.0	816	$1,550	$1.90	21d	1	1.47mi

Listing history 10 events

1. 2026-04-12
   status Pending
2. 2026-02-04
   listed $189,900 Active
3. 2011-05-13
   soldstatus $40,000 336-char remark

   Show marketing remark (336 chars)

   Accepting Back Up Offers. Brightly painted 3 bedroom 2 bath home with many upgrades on the inside. Very well maintained with a private backyard and wood fence. Tile throughout entire home. Was owner occupied until Jan 5, 2011. Home has large closets and clean garage. School district is Madison elementary, Oak Park, and Astronaut High.

4. 2010-12-15
   listed $45,900 336-char remark

   Show marketing remark (336 chars)

   Accepting Back Up Offers. Brightly painted 3 bedroom 2 bath home with many upgrades on the inside. Very well maintained with a private backyard and wood fence. Tile throughout entire home. Was owner occupied until Jan 5, 2011. Home has large closets and clean garage. School district is Madison elementary, Oak Park, and Astronaut High.

5. 2004-12-04
   soldstatus $129,900
6. 2004-11-30
   soldstatus $129,900 196-char remark

   Show marketing remark (196 chars)

   Freshly remodeled, new tile, carpet, paint, refrigerator, dishwasher, garage door opener, fenced back yard, screened porch - move right in!! Bedrooms 2 3 are larger than stated, size rounded down.

7. 2004-08-09
   listed $129,900 196-char remark

   Show marketing remark (196 chars)

   Freshly remodeled, new tile, carpet, paint, refrigerator, dishwasher, garage door opener, fenced back yard, screened porch - move right in!! Bedrooms 2 3 are larger than stated, size rounded down.

8. 2004-07-07
   soldstatus $77,500
9. 1982-03-01
   soldstatus $47,000
10. 1981-03-01
    soldstatus $42,000

ⓘ 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: $3,035 · $253/mo
• Projected year-2 tax: $3,035 · $253/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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 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: $23,693
• − Mortgage interest: −$10,637
• − Property taxes: −$3,035
• − Insurance: −$950
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$5,524
• Taxable loss: −$244
• Est. tax savings @ 24.0%: +$59
• After-tax cash flow: $2,841/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): 20,222
• Household income: $67,491
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 403.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -172.25%
• Current HPI: 303.5534
• Rent YoY: ▲ 0.59%
• 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

+352.1% since first listed

10 events — show timeline

• 2026-04-12 Pending — SCMLS
• 2026-02-04 Listed $189,900 SCMLS
• 2011-05-13 Sold (MLS) $40,000 SCMLS
• 2010-12-15 Listed $45,900 SCMLS
• 2004-12-04 Sold (Public Records) $129,900 Public Records
• 2004-11-30 Sold (MLS) $129,900 SCMLS
• 2004-08-09 Listed $129,900 SCMLS
• 2004-07-07 Sold (Public Records) $77,500 Public Records
• 1982-03-01 Sold (Public Records) $47,000 Public Records
• 1981-03-01 Sold (Public Records) $42,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $3,035 · +4.6% YoY. Source: county tax records.