211 Seahorse Cir SE · Palm Bay, FL 32909

$280,000

3 bd · 2.0 ba · 1,671 sqft · SingleFamily public records · 6 Days on market

Built 1991 10,019 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 +12.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This beautiful home is in a quiet neighborhood located convenient to all the Space Coast has to offer. The property boasts an attractive landscape with a Zoysia grass yard that is great for barefoot walks. A large relaxing screened-in patio overlooks the large completely fenced in backyard with plenty of room. The split bedroom layout features a large master bedroom with his and her closets, master bathroom with double sinks and shower. The kitchen and family room lead to the large screened in patio that opens to the private backyard. Washer, dryer, and extra refrigerator in the garage are included. New water heater, new Leaf Filter gutter guard system (lifetime warranty), MB remodeled 2018, newish front entry screen enclosure, and new fascia and soffits in 2017.

Key facts

• Updated master bath
• Newer roof
• Newer a/c

Tags

• NEWER ROOF
• NEWER A/C
• NEWER WATER HEATER
• UPDATED MASTER BATH
• HUGE SCREENED-IN BACK PORCH
• 10 MINUTES TO INDIAN RIVER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-38 ($-452/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (20.8% below list).
• Recommended offer: $222k (20.8% 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); 1111 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 33% 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 $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.7% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Climate carrying-cost: 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 $221,804 (20.8% 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. 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: 0.79% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 10.5

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: 24.1%
• Equity multiple: 2.93×
• Total profit: $151,543
• Equity at exit: $252,246

10-year hold

• IRR: 21.5%
• Equity multiple: 6.75×
• Total profit: $451,187
• Equity at exit: $543,978

Cash invested: $78,400 (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: 1111
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,218 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$205 /mo · $2,459/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $-38

Break-even live

Break-even rent $2,266

Max offer price $273,339

Occupancy floor 97%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1523 Elmhurst Cir SE Palm Bay, FL	3.0	2.0	2028	$2,325	$1.15	23d	1	0.41mi
1736 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1873	$2,000	$1.07	23d	1	0.56mi
1733 La Maderia Dr SW Palm Bay, FL	3.0	2.0	1865	$2,195	$1.18	21d	1	0.57mi
1224 Buffing Cir SE Palm Bay, FL	4.0	2.0	2233	$2,395	$1.07	14d	1	0.67mi
1718 Sawgrass Dr SW Palm Bay, FL	4.0	2.5	2248	$2,400	$1.07	23d	1	0.75mi
914 Caligula Ave SE Palm Bay, FL	3.0	2.0	1371	$1,841	$1.34	14d	1	0.83mi
931 Commerce Rd SE Palm Bay, FL	3.0	2.0	1068	$2,300	$2.15	23d	1	0.85mi
1290 Sail Ct SE Palm Bay, FL	3.0	2.0	1509	$1,945	$1.29	23d	1	0.86mi
1129 Colonial Ave SE Palm Bay, FL	4.0	3.0	2008	$2,500	$1.25	19d	1	0.87mi
356 Garbelmann St SW Palm Bay, FL	4.0	3.0	1850	$2,121	$1.15	14d	1	0.94mi
857 Buchanan Ave SE Palm Bay, FL	3.0	2.0	1257	$1,950	$1.55	23d	1	1.00mi
431 Brantley St SE Palm Bay, FL	3.0	2.0	1326	$2,050	$1.55	19d	1	1.01mi
1897 Gould Ave SW Palm Bay, FL	4.0	2.0	1555	$1,850	$1.19	23d	1	1.02mi
818 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1490	$1,795	$1.20	23d	1	1.08mi
822 Seven Gables Cir SE Palm Bay, FL	3.0	2.0	1474	$1,835	$1.24	23d	1	1.08mi
710 Avalon St SE Palm Bay, FL	3.0	2.0	1378	$1,995	$1.45	23d	1	1.11mi
2910 Emerson Dr SE Palm Bay, FL	3.0	2.0	1700	$1,950	$1.15	14d	1	1.14mi
1133 Hanover Ave SW Palm Bay, FL	4.0	2.0	1804	$2,250	$1.25	21d	1	1.25mi
497 Schenley St SW Palm Bay, FL	4.0	2.0	1833	$1,995	$1.09	23d	1	1.32mi
844 Corbin Cir SW Palm Bay, FL	4.0	2.0	2118	$2,500	$1.18	23d	1	1.32mi
328 Hammonton St SW Palm Bay, FL	3.0	2.0	1942	$2,500	$1.29	23d	1	1.34mi
2008 Olympia Ave SW Palm Bay, FL	4.0	2.0	1828	$2,500	$1.37	23d	1	1.37mi
726 Scotten Ave SW Palm Bay, FL	3.0	2.0	1443	$1,970	$1.37	14d	1	1.38mi
439 Gancedo St SW Palm Bay, FL	4.0	2.0	1830	$2,200	$1.20	23d	1	1.39mi
1130 Grapefruit Rd SE Palm Bay, FL	3.0	2.0	1144	$1,900	$1.66	14d	1	1.43mi
1023 Garvey Rd SW Palm Bay, FL	4.0	2.0	1750	$2,296	$1.31	14d	1	1.46mi

Listing history 12 events

1. 2026-05-21
   soldstatus $272,000 Closed
2. 2026-04-18
   status Pending
3. 2026-04-15
   status Active
4. 2026-04-06
   status Pending
5. 2026-03-31
   listed $280,000 Active
6. 2020-12-22
   soldstatus $225,000
7. 2020-12-18
   soldstatus $225,000 Closed 773-char remark

   Show marketing remark (773 chars)

   This beautiful home is in a quiet neighborhood located convenient to all the Space Coast has to offer. The property boasts an attractive landscape with a Zoysia grass yard that is great for barefoot walks. A large relaxing screened-in patio overlooks the large completely fenced in backyard with plenty of room. The split bedroom layout features a large master bedroom with his and her closets, master bathroom with double sinks and shower. The kitchen and family room lead to the large screened in patio that opens to the private backyard. Washer, dryer, and extra refrigerator in the garage are included. New water heater, new Leaf Filter gutter guard system (lifetime warranty), MB remodeled 2018, newish front entry screen enclosure, and new fascia and soffits in 2017.

8. 2020-11-21
   historical Contingent 773-char remark

   Show marketing remark (773 chars)

   This beautiful home is in a quiet neighborhood located convenient to all the Space Coast has to offer. The property boasts an attractive landscape with a Zoysia grass yard that is great for barefoot walks. A large relaxing screened-in patio overlooks the large completely fenced in backyard with plenty of room. The split bedroom layout features a large master bedroom with his and her closets, master bathroom with double sinks and shower. The kitchen and family room lead to the large screened in patio that opens to the private backyard. Washer, dryer, and extra refrigerator in the garage are included. New water heater, new Leaf Filter gutter guard system (lifetime warranty), MB remodeled 2018, newish front entry screen enclosure, and new fascia and soffits in 2017.

9. 2020-11-19
   listed $225,000 Active 773-char remark

   Show marketing remark (773 chars)

   This beautiful home is in a quiet neighborhood located convenient to all the Space Coast has to offer. The property boasts an attractive landscape with a Zoysia grass yard that is great for barefoot walks. A large relaxing screened-in patio overlooks the large completely fenced in backyard with plenty of room. The split bedroom layout features a large master bedroom with his and her closets, master bathroom with double sinks and shower. The kitchen and family room lead to the large screened in patio that opens to the private backyard. Washer, dryer, and extra refrigerator in the garage are included. New water heater, new Leaf Filter gutter guard system (lifetime warranty), MB remodeled 2018, newish front entry screen enclosure, and new fascia and soffits in 2017.

10. 1996-04-23
    soldstatus $86,500
11. 1993-11-03
    soldstatus $82,000
12. 1988-01-01
    soldstatus $6,300

ⓘ 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: $2,459 · $205/mo
• Projected year-2 tax: $2,459 · $205/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $26,616
• − Mortgage interest: −$15,684
• − Property taxes: −$2,459
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,129
• − Management: −$2,129
• − Depreciation: −$8,145
• Taxable loss: −$5,331
• Est. tax savings @ 24.0%: +$1,280
• After-tax cash flow: $827/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

+4217.5% since first listed

12 events — show timeline

• 2026-05-21 Sold (MLS) $272,000 SCMLS
• 2026-04-18 Pending — SCMLS
• 2026-04-15 Relisted — SCMLS
• 2026-04-06 Pending — SCMLS
• 2026-03-31 Listed $280,000 SCMLS
• 2020-12-22 Sold (Public Records) $225,000 Public Records
• 2020-12-18 Sold (MLS) $225,000 SCMLS
• 2020-11-21 Contingent — SCMLS
• 2020-11-19 Listed $225,000 SCMLS
• 1996-04-23 Sold (Public Records) $86,500 Public Records
• 1993-11-03 Sold (Public Records) $82,000 Public Records
• 1988-01-01 Sold (Public Records) $6,300 Public Records

Property tax history

+11.1%/yr

Latest (2025): $2,459 · +2.9% YoY. Source: county tax records.