1428 Rankin Ave SE · Palm Bay, FL 32909

$325,000

4 bd · 2.0 ba · 1,740 sqft · SingleFamily public records · 57 Days on market

Built 1983 0.46 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.4/10.0

Listing remarks MLS

Great house on almost one half acre. .. Freshly painted interior , new carpet through out, fenced Back yard , shed. .. . Plenty of room to relax and play. Split bedrooms, fantastic family room off kitchen and back porch. Priced to sell. .. ..

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1983

Property features AI

Exterior

• Parking: Garage with automatic opener; 2 garage spaces
• Utilities: Public sewer and septic tank available; Water connected; Sewer connected
• Home design: Single family residence; Faces east
• Construction: Block and concrete construction; Pets allowed
• Other exterior: Back yard fenced (chain link and wood); Cleared lot; Lot approximately 0.46 acres
• Exterior features: Impact windows; Porch; Rear screened porch; Shed(s)

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Tankless water heater
• Bedrooms: 4 bedrooms
• Flooring: Concrete
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Wall/window unit(s)
• Interior features: Ceiling fans; Kitchen island; Open floorplan
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-444 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (31.1% below list).
• Recommended offer: $224k (31.1% 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: Columbia Elementary School (math 52% / reading 47%, grade D, #1,088 of 2,144 statewide, top 53%, 506 students, 68% FRL); Southwest Middle School (math 40% / reading 39%, grade F, #373 of 571 statewide, top 66%, 920 students, 58% FRL); Bayside High School (math 27% / reading 40%, grade F, #400 of 667 statewide, top 61%, 1,854 students, 51% FRL) — zoned schools average 59% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 55% district-wide (-14 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 (+3.7%/yr); 1123 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 34% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $325k implies a 124% 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 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,977 (31.1% 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 57 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: 4.65%
• Cash-on-cash: -5.86%
• DSCR: 0.74
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $150,253
• Equity at exit: $292,786

10-year hold

• IRR: 18.7%
• Equity multiple: 6.14×
• Total profit: $467,911
• Equity at exit: $631,404

Cash invested: $91,000 (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 32909

• Home prices YoY: 6.0%
• Rents YoY: 3.7%
• Active inventory: 1123
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,240 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$374 /mo · $4,485/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-444

Break-even live

Break-even rent $2,802

Max offer price $246,550

Occupancy floor —

Sensitivity live

Price	-10% $-260	-5% $-352	+0% $-444	+5% $-536	+10% $-628
Rent	-10% $-621	-5% $-533	+0% $-444	+5% $-356	+10% $-267
Rate	-1.0pp $-280	-0.5pp $-361	base $-444	+0.5pp $-528	+1.0pp $-614

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1517 Wacker Ave SE Palm Bay, FL	4.0	2.0	1775	$2,200	$1.24	25d	1	0.21mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	16d	1	0.34mi
1150 Raoul St SE Palm Bay, FL	4.0	2.0	1787	$2,300	$1.29	25d	1	0.35mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	25d	1	0.36mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	25d	1	0.36mi
1068 Saint Johns St SE Palm Bay, FL	3.0	2.0	1332	$2,000	$1.50	25d	1	0.39mi
1150 Tiger St SE Palm Bay, FL	3.0	2.0	1690	$1,950	$1.15	16d	1	0.45mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	25d	1	0.62mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	16d	1	0.66mi
1210 Vandalia Ave SE Palm Bay, FL	4.0	2.0	1833	$2,050	$1.12	16d	1	0.76mi
1255 Wadsworth St SE Unit 1255 Palm Bay, FL	3.0	3.0	1747	$2,350	$1.35	21d	1	0.79mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	16d	1	0.83mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	21d	1	0.93mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	25d	1	0.96mi
1418 Paley Cir SE Palm Bay, FL	3.0	2.0	1260	$1,850	$1.47	25d	1	0.98mi
1530 Paley Cir SE Palm Bay, FL	4.0	2.0	1842	$2,095	$1.14	16d	1	1.01mi
896 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1263	$1,900	$1.50	16d	1	1.16mi
885 Talmadge Ave SE Palm Bay, FL	3.0	2.0	1787	$2,300	$1.29	23d	1	1.19mi
1625 Waneta St SE Palm Bay, FL	3.0	2.0	1631	$2,100	$1.29	21d	1	1.21mi
1643 Talavera St SE Palm Bay, FL	4.0	2.0	1833	$1,861	$1.02	21d	1	1.24mi
2036 Walsh Ave SE Palm Bay, FL	3.0	2.0	1331	$1,930	$1.45	25d	1	1.25mi
829 Tampa Ave SE Palm Bay, FL	3.0	2.0	1303	$1,740	$1.34	25d	1	1.30mi
1674 Waltz St SE Palm Bay, FL	3.0	2.0	1262	$1,831	$1.45	15d	1	1.35mi
721 Taluga Ave SE Palm Bay, FL	3.0	2.0	1556	$1,800	$1.16	25d	1	1.39mi
1205 Jaslo St SE Palm Bay, FL	1.0–3.0	1.0–2.0	992	$2,245	$2.26	16d	8	1.46mi
978 Remington Green Dr SE Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	25d	1	1.48mi

Listing history 22 events

1. 2026-06-22
   days on market $325,000 Active 57 DOM
2. 2026-06-18
   days on market $325,000 Active 54 DOM
3. 2026-06-17
   pricedays on market $325,000 Active 53 DOM
4. 2026-06-16
   days on market $330,000 Active 52 DOM
5. 2026-06-15
   days on market $330,000 Active 51 DOM
6. 2026-06-14
   days on market $330,000 Active 49 DOM
7. 2026-06-10
   days on market $330,000 Active 46 DOM
8. 2026-06-08
   days on market $330,000 Active 44 DOM
9. 2026-06-07
   days on market $330,000 Active 43 DOM
10. 2026-06-05
    pricedays on market $330,000 Active 40 DOM
11. 2026-06-03
    days on market $340,000 Active 39 DOM
12. 2026-06-02
    days on market $340,000 Active 38 DOM
13. 2026-06-01
    days on market $340,000 Active 37 DOM
14. 2026-05-31
    days on market $340,000 Active 36 DOM
15. 2026-05-31
    days on market $340,000 Active 35 DOM
16. 2026-05-16
    price $340,000
17. 2026-05-12
    price $355,000
18. 2026-04-25
    listed $360,000 Active
19. 2026-04-19
    historical $360,000
20. 2017-08-02
    soldstatus $145,000
21. 2017-07-28
    soldstatus $145,000 244-char remark

    Show marketing remark (244 chars)

    Great house on almost one half acre. .. Freshly painted interior , new carpet through out, fenced Back yard , shed. .. . Plenty of room to relax and play. Split bedrooms, fantastic family room off kitchen and back porch. Priced to sell. .. ..

22. 2017-03-13
    listed $149,900 244-char remark

    Show marketing remark (244 chars)

    Great house on almost one half acre. .. Freshly painted interior , new carpet through out, fenced Back yard , shed. .. . Plenty of room to relax and play. Split bedrooms, fantastic family room off kitchen and back porch. Priced to sell. .. ..

ⓘ 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: $4,485 · $374/mo
• Projected year-2 tax: $4,485 · $374/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 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 18 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: $26,877
• − Mortgage interest: −$18,205
• − Property taxes: −$4,485
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − Depreciation: −$9,455
• Taxable loss: −$11,193
• Est. tax savings @ 24.0%: +$2,686
• After-tax cash flow: $-2,643/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): 41,804
• Household income: $79,977
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 697.0

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 0.70)
• Race & ethnicity: White 46% Black 21% Hispanic / Latino 20% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Cuban 5%
• Common ancestry: Hispanic 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 4% Chinese 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: ▲ 18.81%
• Current HPI: 330.8595
• Rent YoY: ▲ 3.67%
• 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

+126.8% since first listed

7 events — show timeline

• 2026-05-16 Price Changed $340,000 SCMLS
• 2026-05-12 Price Changed $355,000 SCMLS
• 2026-04-25 Listed $360,000 SCMLS
• 2026-04-19 Coming Soon $360,000 SCMLS
• 2017-08-02 Sold (Public Records) $145,000 Public Records
• 2017-07-28 Sold (MLS) $145,000 SCMLS
• 2017-03-13 Listed $149,900 SCMLS

Property tax history

+18.9%/yr

Latest (2025): $4,485 · -1.8% YoY. Source: county tax records.