NW Palm Bay 3/2 Rehab

This NW Palm Bay home sits on a 0.23-acre Flood Zone X lot with RS2 zoning, 1,152 sq. ft., a 1986 build, and a roof that is roughly 5-7 years old. The property is currently a 2 bed / 1 bath and needs cosmetic updating, but the upside is in the layout: adding a bedroom and bath creates a much more marketable 3/2 exit in a pocket where nearby 3/2 sales are landing in the mid-$200s. At $145,000, this is a clean value-add deal for an investor who can keep the rehab tight and execute the bed/bath conversion correctly.

Repairs Needed (Estimated)

• Interior paint, flooring, trim, doors, fixtures, and cosmetic updates
• Kitchen and bath refresh
• Add bedroom and bathroom (optional)
• Exterior cleanup, pressure washing, paint/touchups, and landscaping
• Garage/utility area cleanup as needed

Comparable Sales

1. 322 Ixora Ave NW, Palm Bay, FL 32907 | 2/2 | 912 SF | Closed Mar 18, 2026 | $198,500 | $218/SF | 0.18 mi – Fully remodeled smaller comp with a 2025 roof, updated baths, modern flooring, refreshed kitchen, and new septic. Strong lower support, but smaller than the subject and not enough on its own to justify a mid-$200s ARV.
2. 1033 Baysinger St NW, Palm Bay, FL 32907 | 3/2 | 1,360 SF | Closed Apr 16, 2026 | $245,000 | $180/SF | 0.38 mi – Good same-pocket 3/2 support with more square footage. Useful mid-range comp for the converted layout, but larger than the subject.
3. 1076 Ivanhoe St NW, Palm Bay, FL 32907 | 2/1.5 | 900 SF | Closed May 6, 2026 | $232,000 | $258/SF | 0.40 mi – Smaller house on a much larger 0.69-acre lot. Supports value above $200K, but the lot size makes it less direct.
4. 370 Ixora Ave NW, Palm Bay, FL 32907 | 3/2 | 1,378 SF | Closed Dec 26, 2025 | $258,800 | $188/SF | 0.09 mi – Closest strong closed comp. Larger 3/2 with cleaner resale presentation, so it supports the upper side but should not be copied straight across.
5. 1139 Altamira St NW, Palm Bay, FL 32907 | 3/2 | 1,264 SF | Closed Apr 27, 2026 | $270,000 | $214/SF | 0.28 mi – Strong upper comp with garage and clean market-ready presentation. Superior to the subject unless the bed/bath conversion and finish are done well.

ARV & Rental Analysis

Realistic ARV range should be $245,000 to $260,000 +/- with a proper 3/2 conversion.

• • As a cleaned-up 2/1 without adding the bed and bath, value should stay closer to $205,000 to $225,000 +/-.

Estimated rent: $1,800 to $1,950/month +/- after renovation as a 3/2.