500 Fifth Ave, Melbourne Bch
Brevard County Real Estate - Melbourne Beach
Melbourne Beach is a town in Brevard County, Florida, and is Brevard's oldest beach community. Juan Ponce de Leon, the first European to land in Florida, is said to have landed near Melbourne Beach in 1513. The town is located on the same barrier island as Indialantic which borders it to the north. Among the town's points of interest is the the Melbourne Beach Pier, a historic pier expending onto the Indian River.
Melbourne Beach is in East Central Florida. It's population as recorded in the 2010 Census was 3,101. Melbourne Beach is approximately 59 miles from Orlando (population 238,300) and around 56 miles from Port Saint Lucie (population 164,603).
The median age for residents of Melbourne Beach is 49.5. Around 24.7% of Melbourne Beach households include school aged children and 35.6% of households include individuals aged 65 years or over. Census records indicate 96.8% of the Melbourne Beach population are White, .4% are Black or African American, .2% American Indian, 1% Asian and 1.1% are Two or more Races.
There are 1,574 housing units in Melbourne Beach. 230 (14.6%) of these were reported as vacant in the 2010 Census. Melbourne Beach is a tourist destination, 63.4% (146) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 245 residential rental units in Melbourne Beach. 218 of them were occupied in 2010 providing a residential rental vacancy rate of 8.2%.
Melbourne Beach links:
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Brevard County
Brevard County is located in the East Central Florida region, along with Orange, Volusia, Sumter, Seminole, Lake, and Osceola counties. There are many incorporated municipalities in Brevard. Cities include Cape Canaveral, Cocoa, Cocoa Beach, Indian Harbour Beach, Melbourne, Palm Bay, Rockledge, Satellite Beach, Titusville, and West Melbourne. The towns in Brevard are Grant-Valkaria, Indiatlantic, Malabar, Melbourne Beach, Melbourne Village, and Palm Shores. Brevard?s population is well over half a million.
Top industries for Brevard County include technology, tourism, agriculture, and other service businesses. Top public sector employers for Brevard County are the Brevard County School Board, Brevard County Board of County Commissioners, NASA, and US Department of Defense. Private sector employers include Harris Corporation, Health First, Inc., United Space Alliance, Wuesthoff Health System, and Northrop Grumman Corporation.
Kennedy Space Center is located on Merritt Island in Brevard County and provides many jobs for the area, as well as acting as a popular tourist destination. It is from this activity that Brevard takes its nickname, the Space Coast. Nicknamed "Space City USA", the city of Titusville is across the water from KSC. The city?s population is highly-educated. The city is a popular destination for visitors wishing to see spacecraft launches.
Other tourist attractions in Brevard County include Port Canaveral, one of the busiest cruise ports in the world, the Merritt Island National Wildlife Refuge, and Cocoa Beach. Port Canaveral is serviced by Disney Cruise Lines, Carnival, and Royal Caribbean. Not just a tourist destination, the port is within a foreign trade zone.
In 2010 and 2011, the Brookings Institution reported that Brevard ranked in the bottom fifth of the nation's top metro areas, based on unemployment, gross metropolitan product, housing prices and foreclosed properties. In 2011, the county was rated the 6th worst in the nation for foreclosures. RealtyTrac rated Brevard as the best county in the United States for buyers in 2013 because of the low prices.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 503 Fourth Ave | Single Family | 7,215 | A |
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| 1500 Pine St | Single Family | 3,740 | A |
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| 1405 Pine St | Single Family | 5,044 | B |
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| 1403 Pine St | Single Family | 1,548 | B |
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| 1401 Pine St | Single Family | 1,994 | B |
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| 1501 Pine St | Single Family | 936 | C |
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| 418 Fifth Ave | Single Family | 1,365 | C |
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| 1505 Pine St | Single Family | 3,319 | B |
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| 1304 Pine St | Single Family | 1,840 | B |
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| 1508 Pine St | Single Family | 4,598 | A |
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| 419 Fourth Ave | Single Family | 1,611 | B |
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| 416 Fifth Ave | Single Family | 1,050 | C |
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| 504 Fourth Ave | Single Family | 2,585 | B |
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| 419 Fifth Ave | Single Family | 1,476 | B |
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| 422 Fourth Ave | Single Family | 1,065 | B |
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| 420 Fourth Ave | Single Family | 1,275 | C |
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| 1507 Pine St | Single Family | 1,236 | C |
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| 417 Fifth Ave | Single Family | 1,105 | C |
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| 414 Fifth Ave | Single Family | 1,236 | C |
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| 415 Fourth Ave | Single Family | 1,050 | B |
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| 1509 Pine St | Single Family | 2,091 | C |
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| 418 Fourth Ave | Single Family | 1,996 | C |
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| 412 Fifth Ave | Single Family | 1,410 | C |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 502 Colony St | .65 | 2,355 | $799,000 |
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| 340 Fourth Ave | 1.94 | 1,948 | $599,999 |
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| 2502 Victoria Dr Ne | 1.99 | 0 | $79,000 | |
| 2990 Highway A1a | 2.04 | 3,072 | $1,299,000 |
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| 2814 Harbor City Blvd S | 2.17 | 1,400 | $629,000 |
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| 1500 Main St Ne | 2.36 | 11,200 | $1,099,000 |
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| 2230 Monroe St Ne | 2.37 | 2,496 | $325,000 |
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| 877 Highway A1a N | 2.46 | 1,200 | $525,000 |
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| 117 Franklyn Ave | 2.47 | 936 | $700,000 |
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| 3140 Highway A1a | 2.53 | 1,515 | $899,000 |
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| 2971 Indian River Dr Ne | 2.57 | 672 | $158,000 |
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| 3079 Indian River Dr Ne | 2.58 | 672 | $129,500 |
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| 1780 Live Oak St Ne | 2.69 | 828 | $129,900 |
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| 1005 Strawbridge Ave E | 2.72 | 8,618 | $1,995,000 |
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| 833 New Haven Ave E | 2.81 | 8,109 | $2,990,000 |
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Local Household Income
The median household income in this part of Florida is $72,768. The bottom 10% of the population earn less than $23,880 per year. The top 10% earn more than $187,088 per year. The top 1% earn more than $641,838 per year. Most renters earn between $33,936 (20th percentile) and $61,692 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $145,536 and $181,920.
The tax assessed value of this property places it in percentile 99 of all properties in this area. This suggests it would appeal to someone earning around $641,838 per year who should qualify for a mortgage between $1,283,676 and $1,604,595.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,015. Most renters earn between $2,828 and $5,141 per month. They typically spend 31% of their monthly income on rent. Most rents fall in the $738 (20th percentile) to $1,432 (80th percentile) range. The residential vacancy rate is 9%.
This property falls in percentile 99 of all properties in this area. This corresponds to a rent of $3,300 per month and a monthly household income of $11,981 ($143,772 per year)
Nearby Companies
1508 Pine St
500 5th Ave