The Cabana Plan · North Merritt Island, FL 32952

$49,900

2 bd · 2.0 ba · 840 sqft · SingleFamily · 370 Days on market

Fair 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled near Florida's stunning coastline, Colony in Merritt Island offers the perfect blend of friendly community living and thrilling outdoor adventures. This all-age, pet-friendly neighborhood is a haven for those seeking a welcoming atmosphere with the convenience of coastal living. At Colony Park, you're just minutes away from pristine beaches, lush nature preserves, and the shimmering waters of the Indian and Banana Rivers. Whether you're into kayaking, paddleboarding, fishing, or simply soaking up the sun, outdoor enthusiasts will feel right at home. Our community fosters connections through shared spaces, local events, and a welcoming spirit that makes everyone feel like family.

Key facts

• Pristine beaches
• Listed 369 days

Tags

• PET FRIENDLY NEIGHBORHOOD
• PRISTINE BEACHES
• LUSH NATURE PRESERVES
• INDIAN AND BANANA RIVERS

🏗️ New construction. The $49,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $89,000.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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 $615 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 370 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% 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 $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 370 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: 1.95% ✓
• Cap rate: 16.46%
• Cash-on-cash: 36.30%
• DSCR: 2.62
• GRM: 4.3

CMA / ARV

• ARV (median comp): $89,000
• List price: $49,900
• Delta: -43.93%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Baker Rd	0.18mi	2/2.0	800 (-5%)	10mo	$40,000	$50	75
6838 Whaley Rd	0.07mi	3/2.0 (+1)	924 (+10%)	0mo	$89,000	$96	75

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: 32.5%
• Equity multiple: 2.44×
• Total profit: $35,795
• Equity at exit: $13,270

10-year hold

• IRR: 41.5%
• Equity multiple: 5.65×
• Total profit: $115,931
• Equity at exit: $7,695

Cash invested: $24,920 (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: 26 active · 1 under contract
• Months of supply: 156.0 mo (1%/mo absorbed)
• Median asking: $64,900 ($89/sqft)
• Median days on market: 43 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +18.8% 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: 2.4×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $687

Break-even live

Break-even rent $863

Max offer price $89,000

Occupancy floor 55%

Sensitivity live

Price	-10% $749	-5% $718	+0% $687	+5% $657	+10% $626
Rent	-10% $550	-5% $619	+0% $687	+5% $756	+10% $824
Rate	-1.0pp $732	-0.5pp $710	base $687	+0.5pp $664	+1.0pp $641

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: $22,250
• Closing costs: $2,670
• 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 $49,900

Exterior

• Home design: New construction planSingle-story plan name: The CabanaLocated in Merritt Island, FL
• Exterior features: Living area approximately 840 (listing value)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan name: The Cabana

Listing history 47 events

1. 2026-08-11
   days on market $49,900 Active 370 DOM
2. 2026-08-10
   days on market $49,900 Active 369 DOM
3. 2026-08-09
   days on market $49,900 Active 368 DOM
4. 2026-08-08
   days on market $49,900 Active 367 DOM
5. 2026-08-07
   days on market $49,900 Active 366 DOM
6. 2026-08-06
   days on market $49,900 Active 365 DOM
7. 2026-08-05
   days on market $49,900 Active 364 DOM
8. 2026-08-03
   days on market $49,900 Active 362 DOM
9. 2026-07-31
   days on market $49,900 Active 359 DOM
10. 2026-07-29
    days on market $49,900 Active 357 DOM
11. 2026-07-25
    days on market $49,900 Active 353 DOM
12. 2026-07-23
    days on market $49,900 Active 351 DOM
13. 2026-07-22
    days on market $49,900 Active 350 DOM
14. 2026-07-21
    days on market $49,900 Active 349 DOM
15. 2026-07-18
    days on market $49,900 Active 346 DOM
16. 2026-07-16
    days on market $49,900 Active 343 DOM
17. 2026-07-14
    days on market $49,900 Active 342 DOM
18. 2026-07-12
    days on market $49,900 Active 340 DOM
19. 2026-07-11
    days on market $49,900 Active 339 DOM
20. 2026-07-10
    days on market $49,900 Active 338 DOM
21. 2026-07-09
    days on market $49,900 Active 337 DOM
22. 2026-07-07
    days on market $49,900 Active 335 DOM
23. 2026-07-05
    days on market $49,900 Active 333 DOM
24. 2026-07-04
    days on market $49,900 Active 332 DOM
25. 2026-07-03
    days on market $49,900 Active 331 DOM
26. 2026-07-02
    days on market $49,900 Active 330 DOM
27. 2026-07-01
    days on market $49,900 Active 329 DOM
28. 2026-06-30
    days on market $49,900 Active 328 DOM
29. 2026-06-29
    days on market $49,900 Active 327 DOM
30. 2026-06-28
    days on market $49,900 Active 326 DOM
31. 2026-06-28
    days on market $49,900 Active 325 DOM
32. 2026-06-27
    days on market $49,900 Active 324 DOM
33. 2026-06-25
    days on market $49,900 Active 322 DOM
34. 2026-06-22
    days on market $49,900 Active 319 DOM
35. 2026-06-18
    days on market $49,900 Active 316 DOM
36. 2026-06-17
    days on market $49,900 Active 315 DOM
37. 2026-06-16
    days on market $49,900 Active 314 DOM
38. 2026-06-15
    days on market $49,900 Active 313 DOM
39. 2026-06-14
    days on market $49,900 Active 311 DOM
40. 2026-06-10
    days on market $49,900 Active 308 DOM
41. 2026-06-08
    days on market $49,900 Active 306 DOM
42. 2026-06-07
    days on market $49,900 Active 305 DOM
43. 2026-06-05
    days on market $49,900 Active 302 DOM
44. 2026-06-03
    days on market $49,900 Active 301 DOM
45. 2026-06-02
    days on market $49,900 Active 300 DOM
46. 2026-06-01
    days on market $49,900 Active 299 DOM
47. 2026-05-31
    days on market $49,900 Active 298 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: $20,793
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$2,589
• Taxable income: $7,314
• Est. tax owed @ 24.0%: −$1,755
• After-tax cash flow: $6,493/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

Fair 45/100 Moderate rehab Est. rehab $21,000–$37,800 screening

The home requires significant repairs and maintenance, including a new roof, siding, and HVAC system, as well as painting and landscaping. These improvements will significantly enhance its value and make it more attractive to buyers and renters.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage.
• Major siding — The siding is old and shows extensive wear.
• Major flooring — The flooring is worn and may need replacement.
• Major interior walls — The walls show signs of wear and discoloration, indicating they need repainting.
• Major HVAC system — The system appears old and may need replacement or repair for proper functioning.
• Major landscaping — The landscaping is overgrown and needs trimming and maintenance to improve curb appeal.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and value. ↑
• Resale siding replacement — New siding will enhance the home's curb appeal and increase its value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Resale painting — Fresh paint will make the home look more inviting and increase its resale value. ↑
• Both landscaping — A well-maintained landscape will improve curb appeal and increase both resale and rental value. ↑
• Resale flooring replacement — New flooring will make the home more appealing and increase its resale value. ↑

ⓘ Rehab cost is a screening estimate — Moderate 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 $49,900

Exterior

• Home design: New construction planSingle-story plan name: The CabanaLocated in Merritt Island, FL
• Exterior features: Living area approximately 840 (listing value)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan name: The Cabana