← Alpha board
canal · Merritt Island, Brevard County, FL
520 E Merrimac Dr (Newfound Harbor), Merritt Island, FL
discoveredevidence: medium
screen
model pb-score-v1
Lowest-cost boatable-water entry on Merritt Island in this scan; renovate-and-rent to Space Coast workforce or reposition as launch-week STR at minimal basis.
Asking price
$364,500
Suggested offer
$321,000
Do-not-exceed
$346,000
Renovation range
—
Visible scores — no black box
Asset — quality & scarcity65
Alpha — why the market is wrong78
Operating — durable use / income75
Risk — threats to capital (low is good)50
RealtyFund fit80
Composite70
Thesis
Named catalyst
Canal-front home in Newfound Harbor with a $10K price drop, priced at the Brevard non-waterfront median — waterfront at landlocked pricing
Revenue strategy
LTR / launch-week STR
Primary risks
- likely dated condition at this price
- Newfound Harbor canal depth/access limits
- small-home resale ceiling
Evidence room
| Source | Kind | Retrieved | Link |
|---|---|---|---|
| Homes.com Merritt Island water-view | listing | 2026-08-01 | open → |
Next action
Qualified opportunities advance to RealtyFund diligence. Rehab routes to HomeManager / Handyman / ServiceEscrow; stabilized operations route to PropertyManagement.