It would depend on whether or not you would like to hold this for a long term rental and are not overly concerned with great appreciation, or if you are more interested in getting a property that is very undervalued due to distressed circumstances or many foreclosures in the community, and hope to hold for a shorter term and resell at a good profit. It also depends on whether or not you would like to have fewer potential repairs/maintenance issues to worry about, such as with a condo or townhome, or if that doesn't matter. If you go the condo/townhome route, I would look Beachside or Suntree/Viera where there are great bargains, it's fairly easy to rent out, and rent prices arew pretty good. If you rather go the house route, I would ideally look to be in one of the top school districts because many renters looking at houses have children and are concerned about schools.
Beachside and Suntree/Viera rentals seem to move pretty quickly.
There are numerous homes for sale in Palm Bay in your price range, ut there is also a huge inventory of rental homes there too.
Please contact me if I can be of any assistance.
Paradise Properties of Brevard
Multi-Million Dollar Producer
Designated Relocation Specialist
Licensed Realtor since 1994
Cornell University, B.S. in Statistics and Biometry
University of Michigan, M.S. in Biostatistics