The Cypress Trail Plan · North Merritt Island, FL 32952

$79,900

3 bd · 2.0 ba · 896 sqft · SingleFamily · 236 Days on market

Poor condition

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

COMING SOON - Brand New Home in Merritt Island, FL! Currently under construction, this 3-bedroom, 2-bath, 896 sq. ft. home features an open floor plan where the living room flows seamlessly into the kitchen, creating a bright and functional living space. The primary bedroom includes a private ensuite, spacious closet, and full bathroom. The additional bedrooms offer flexibility for an office, gym, guest room, kids' room, or extra storage. Located in desirable Merritt Island, close to beaches, shopping, and dining. Buy before delivery and receive 5% off! Call today, talk to our sales agent, and buy this home before it's gone!

Key facts

• Listed 236 days

🏗️ New construction. The $79,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $153,157.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.4% in North Merritt Island — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — 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: Lewis Carroll Elementary School (math 72% / reading 70%, grade A-, #320 of 2,144 statewide, top 15%, 626 students, 38% FRL); Thomas Jefferson Middle School (math 63% / reading 55%, grade B, #144 of 571 statewide, top 26%, 608 students, 43% FRL); Merritt Island High School (math 32% / reading 55%, grade F, #248 of 667 statewide, top 38%, 1,546 students, 35% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 317 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 + 6.5% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.35%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $153,157
• List price: $79,900
• Delta: -47.83%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6838 Whaley Rd	0.07mi	3/2.0	924 (+3%)	0mo	$89,000	$96	91
375 Baker Rd	0.18mi	2/2.0 (-1)	800 (-11%)	10mo	$40,000	$50	60
335 Saint Charles Ave	0.12mi	3/2.0	1,152 (+29%)	48mo	$214,000	$186	49
330 Creole Dr	0.10mi	2/2.0 (-1)	1,152 (+29%)	33mo	$145,000	$126	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.31×
• Total profit: $13,432
• Equity at exit: $22,836

10-year hold

• IRR: 19.9%
• Equity multiple: 2.97×
• Total profit: $84,525
• Equity at exit: $13,242

Cash invested: $42,884 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 25 active · 1 under contract
• Months of supply: 150.0 mo (1%/mo absorbed)
• Median asking: $54,900 ($59/sqft)
• Median days on market: 43 d
• This list price: 56% of active listings are priced below it
• ARV vs active asking: +187.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32952

• Rents YoY: 6.5%
• Active inventory: 317
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$803
• Tax est. 1.5%: −$191 /mo · $2,297/yr
• Insurance: −$64
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $482

Break-even live

Break-even rent $1,424

Max offer price $153,157

Occupancy floor 71%

Sensitivity live

Price	-10% $588	-5% $535	+0% $482	+5% $429	+10% $376
Rent	-10% $321	-5% $402	+0% $482	+5% $562	+10% $643
Rate	-1.0pp $559	-0.5pp $521	base $482	+0.5pp $442	+1.0pp $402

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: $38,289
• Closing costs: $4,595
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6876 Marilane Merritt Island, FL	2.0	2.0	840	$1,300	$1.55	6d	3	0.03mi
1401 Dalbora Rd Unit B Merritt Island, FL	2.0	2.0	1011	$1,700	$1.68	6d	1	1.26mi

Property features AI

Finance

• Financial info: List price $79,900

Exterior

• Utilities: Electric heating and central air
• Home design: Plan: The Cypress TrailNew construction plan
• Exterior features: Living area of 896

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heatingCentral air conditioning
• Interior features: 2 total bathrooms

Listing history 50 events

1. 2026-09-22
   days on market $79,900 Active 236 DOM
2. 2026-09-21
   days on market $79,900 Active 235 DOM
3. 2026-09-20
   days on market $79,900 Active 234 DOM
4. 2026-09-19
   days on market $79,900 Active 233 DOM
5. 2026-09-18
   days on market $79,900 Active 232 DOM
6. 2026-09-17
   days on market $79,900 Active 231 DOM
7. 2026-09-16
   days on market $79,900 Active 230 DOM
8. 2026-09-15
   days on market $79,900 Active 229 DOM
9. 2026-09-15
   days on market $79,900 Active 228 DOM
10. 2026-09-13
    days on market $79,900 Active 227 DOM
11. 2026-09-12
    days on market $79,900 Active 226 DOM
12. 2026-09-11
    days on market $79,900 Active 225 DOM
13. 2026-09-05
    days on market $79,900 Active 219 DOM
14. 2026-09-04
    days on market $79,900 Active 218 DOM
15. 2026-09-03
    days on market $79,900 Active 217 DOM
16. 2026-08-30
    days on market $79,900 Active 213 DOM
17. 2026-08-29
    days on market $79,900 Active 212 DOM
18. 2026-08-28
    days on market $79,900 Active 211 DOM
19. 2026-08-27
    days on market $79,900 Active 210 DOM
20. 2026-08-26
    days on market $79,900 Active 209 DOM
21. 2026-08-25
    days on market $79,900 Active 208 DOM
22. 2026-08-24
    days on market $79,900 Active 207 DOM
23. 2026-08-23
    days on market $79,900 Active 206 DOM
24. 2026-08-22
    days on market $79,900 Active 205 DOM
25. 2026-08-21
    days on market $79,900 Active 204 DOM
26. 2026-08-20
    days on market $79,900 Active 203 DOM
27. 2026-08-19
    days on market $79,900 Active 202 DOM
28. 2026-08-18
    days on market $79,900 Active 201 DOM
29. 2026-08-17
    days on market $79,900 Active 200 DOM
30. 2026-08-16
    days on market $79,900 Active 199 DOM
31. 2026-08-15
    days on market $79,900 Active 198 DOM
32. 2026-08-15
    days on market $79,900 Active 197 DOM
33. 2026-08-13
    days on market $79,900 Active 196 DOM
34. 2026-08-12
    days on market $79,900 Active 195 DOM
35. 2026-08-11
    days on market $79,900 Active 194 DOM
36. 2026-08-10
    days on market $79,900 Active 193 DOM
37. 2026-08-09
    days on market $79,900 Active 192 DOM
38. 2026-08-08
    days on market $79,900 Active 191 DOM
39. 2026-08-07
    days on market $79,900 Active 190 DOM
40. 2026-08-06
    days on market $79,900 Active 189 DOM
41. 2026-08-05
    days on market $79,900 Active 188 DOM
42. 2026-08-03
    days on market $79,900 Active 186 DOM
43. 2026-07-31
    days on market $79,900 Active 183 DOM
44. 2026-07-29
    days on market $79,900 Active 181 DOM
45. 2026-07-25
    days on market $79,900 Active 177 DOM
46. 2026-07-23
    days on market $79,900 Active 175 DOM
47. 2026-07-22
    days on market $79,900 Active 174 DOM
48. 2026-07-21
    days on market $79,900 Active 173 DOM
49. 2026-07-18
    days on market $79,900 Active 170 DOM
50. 2026-07-16
    days on market $79,900 Active 167 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,408
• − Mortgage interest: −$8,579
• − Property taxes: −$2,297
• − Insurance: −$1,563
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$4,455
• Taxable income: $3,608
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $4,918/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $44,800–$80,640 screening

This home is currently under construction and requires extensive repairs and updates to reach a livable condition. Significant improvements in roofing, exterior, flooring, interior walls, windows, HVAC, and landscaping are necessary to increase its resale and rental value.

Repairs flagged

• Major roof — No visible roof in the satellite image.
• Major exterior — No visible exterior in the satellite image.
• Major flooring — No visible flooring in the satellite image.
• Major interior walls/paint — No visible interior walls/paint in the satellite image.
• Major windows — No visible windows in the satellite image.
• Major foundation/structure — No visible foundation/structure in the satellite image.
• Major HVAC/mechanicals — No visible HVAC/mechanicals in the satellite image.
• Major landscaping/curb appeal — No visible landscaping/curb appeal in the satellite image.

Value-add opportunities

• Resale roof replacement — A new roof would significantly improve the home's appearance and value. ↑
• Resale exterior painting — A fresh coat of paint would enhance curb appeal and value. ↑
• Resale flooring installation — New flooring would improve the home's aesthetic and value. ↑
• Resale interior painting — Fresh paint would brighten the interior and improve the home's value. ↑
• Resale window replacement — New windows would improve energy efficiency and enhance the home's curb appeal. ↑
• Both HVAC system upgrade — A new HVAC system would improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Resale landscaping and curb appeal — A well-maintained landscape would significantly enhance the home's curb appeal and value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Lewis Carroll Elementary School A- FL #320/2,144 Nat'l #3,228/41,679 Middle Thomas Jefferson Middle School B FL #144/571 Nat'l #1,951/14,009 High Merritt Island High School F FL #248/667 Nat'l #7,376/17,239

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 — North Merritt Island

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: North Merritt Island, FL
• County: Brevard County · 623,254 people
• City population: 24,834
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 21,613
• Household income: $102,726
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1%

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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: ▼ -177.56%
• Current HPI: 323.6021
• Rent YoY: ▲ 6.53%
• Metro: Palm Bay-Melbourne-Titusville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: List price $79,900

Exterior

• Utilities: Electric heating and central air
• Home design: Plan: The Cypress TrailNew construction plan
• Exterior features: Living area of 896

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heatingCentral air conditioning
• Interior features: 2 total bathrooms