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752 Gelaso St SW
752 Gelaso St SW
Palm Bay, FL 32908
About
Single Family Home with a Long-term Tenant (7 Years) in Palm Bay, Florida
Offering Details
- Calixte Duffaut transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
- Tokens represent direct ownership in the LLC that owns the property. Calixte will maintain at least 10% ownership in the LLC indefinitely.
- View proof of Calixte's ownership prior to the title transfer here. View proof of the title transfer to the LLC here. View the LLC documents here.
Property Details
- The tenants are a family who have been living in the property for the past seven years.
- Located minutes from I-95 and St. Johns Heritage Parkway, offering easy access to major roadways.
- Surrounded by newer homes and Florida’s natural vegetation, providing both privacy and scenic beauty.
- Close to shopping centers, schools, parks, and local amenities.
- Situated in one of Brevard County’s fastest-growing areas, offering long-term value and potential.
- The items in the Inspection Report have been repaired. Click here to view the repair photos.
Property Management and Insurance
- Managed by the seller, Yhome Nursing LLC
- Property Management Agreement
- Insurance Policy
Property Leverage
- This property has a loan of $142,094.08. View the loan documents here.
- As Calixte pays down the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors are not responsible for the loan payments and have the ability to change this structure via a governance vote.
Occupancy Status (Delinquent)
- 1 year lease
- $1,650/month
- 1 year lease renewal (12/01/2024 to 11/30/2025) at $1,750/month
- The tenant is a family and they have been living in the property for the past 7 years
- The co-owner, Cal, is providing a rent credit of $343/month for the first 2 years or until the rent increases to $1,993/month.
- Lease Agreement
Location Data
- "B" Rating for Zip Code on Niche
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Palm Bay, FL
Palm Bay, FL offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Owner-Proposed Governance Vote for 752 Gelaso St SW:
The property manager, Yhome Nursing LLC with the following wallet address is proposing a governance vote.
The owner's reasoning is below, word-for-word:
*Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
Dear 752 Gelaso Investors,
Thank you for your continued support of Yhome. I understand there have been circulating accusations alleging misconduct. I want to present the record of this - property to provide clarity and transparency.
Since the property was first launched, it has consistently paid rent and has remained financially stable. You can review your individual payment histories for confirmation.
May 6, 2024 update: One owner holding 1 token voted to distribute the property’s reserve and to exclude Yhome from distribution payments, even though I was actively trading on the platform. As a result, 75% of the property reserve was distributed.
May 26, 2024 update: An allegation was raised that I misappropriated funds in an attempt to take over Gelaso and assume the PM role. The records show that I acted to keep the property stable and in compliance with approved plans.
Following that, I provided updates detailing expenditures needed to maintain the property and requested release of reserve funds to address maintenance, which Lofty did not process.
Given these developments, I proposed that the property be taken off the market. The tenant’s financial situation is challenging; the tenant is aging and may not currently be able to sustain the lease.
Based on current projections, accounting for repair costs already incurred and ongoing irregular payments, this property is not projecting near-term positive cash flow. I am therefore proposing to buy all tokens for $36; $40; or maintain operation as is, which is a NO vote on the proposal.
If you’d like, I can provide exhibits (payment histories, governance votes, invoices, and communications) to accompany these points. I’m committed to transparency and open dialogue to address any concerns you may have.
Best regards,
Cal
Yhome Nursing LLC
The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Friday, October 24th, once the voting period ends.
Investor Reviews
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Share price
752 Gelaso St SW
Palm Bay, FL 32908
About
Single Family Home with a Long-term Tenant (7 Years) in Palm Bay, Florida
Offering Details
- Calixte Duffaut transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
- Tokens represent direct ownership in the LLC that owns the property. Calixte will maintain at least 10% ownership in the LLC indefinitely.
- View proof of Calixte's ownership prior to the title transfer here. View proof of the title transfer to the LLC here. View the LLC documents here.
Property Details
- The tenants are a family who have been living in the property for the past seven years.
- Located minutes from I-95 and St. Johns Heritage Parkway, offering easy access to major roadways.
- Surrounded by newer homes and Florida’s natural vegetation, providing both privacy and scenic beauty.
- Close to shopping centers, schools, parks, and local amenities.
- Situated in one of Brevard County’s fastest-growing areas, offering long-term value and potential.
- The items in the Inspection Report have been repaired. Click here to view the repair photos.
Property Management and Insurance
- Managed by the seller, Yhome Nursing LLC
- Property Management Agreement
- Insurance Policy
Property Leverage
- This property has a loan of $142,094.08. View the loan documents here.
- As Calixte pays down the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors are not responsible for the loan payments and have the ability to change this structure via a governance vote.
Occupancy Status (Delinquent)
- 1 year lease
- $1,650/month
- 1 year lease renewal (12/01/2024 to 11/30/2025) at $1,750/month
- The tenant is a family and they have been living in the property for the past 7 years
- The co-owner, Cal, is providing a rent credit of $343/month for the first 2 years or until the rent increases to $1,993/month.
- Lease Agreement
Location Data
- "B" Rating for Zip Code on Niche
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Palm Bay, FL
Palm Bay, FL offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Owner-Proposed Governance Vote for 752 Gelaso St SW:
The property manager, Yhome Nursing LLC with the following wallet address is proposing a governance vote.
The owner's reasoning is below, word-for-word:
*Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
Dear 752 Gelaso Investors,
Thank you for your continued support of Yhome. I understand there have been circulating accusations alleging misconduct. I want to present the record of this - property to provide clarity and transparency.
Since the property was first launched, it has consistently paid rent and has remained financially stable. You can review your individual payment histories for confirmation.
May 6, 2024 update: One owner holding 1 token voted to distribute the property’s reserve and to exclude Yhome from distribution payments, even though I was actively trading on the platform. As a result, 75% of the property reserve was distributed.
May 26, 2024 update: An allegation was raised that I misappropriated funds in an attempt to take over Gelaso and assume the PM role. The records show that I acted to keep the property stable and in compliance with approved plans.
Following that, I provided updates detailing expenditures needed to maintain the property and requested release of reserve funds to address maintenance, which Lofty did not process.
Given these developments, I proposed that the property be taken off the market. The tenant’s financial situation is challenging; the tenant is aging and may not currently be able to sustain the lease.
Based on current projections, accounting for repair costs already incurred and ongoing irregular payments, this property is not projecting near-term positive cash flow. I am therefore proposing to buy all tokens for $36; $40; or maintain operation as is, which is a NO vote on the proposal.
If you’d like, I can provide exhibits (payment histories, governance votes, invoices, and communications) to accompany these points. I’m committed to transparency and open dialogue to address any concerns you may have.
Best regards,
Cal
Yhome Nursing LLC
The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Friday, October 24th, once the voting period ends.
Investor Reviews
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Not paying rent right now
Right now this home's rent goes toward costs such as repairs, refilling the operating reserve, or covering a vacancy.
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,993.00
Monthly Rent
$1,993.00
Monthly Expenses
$0.00
Paid to investors
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.