942 Coral Springs St, Melbourne
Brevard County Real Estate - Merritt Island
Merritt Island is a census-designated place located on the East Coast of Brevard County, Florida. Although technically a peninsula, Merritt Island is considered a barrier island and is located between the Indian River and the Banana River. The area was visited by Spanish explorers in the early 17th century and the town's roots lie in the mid-19th century agriculture of the area. The majority of the land that makes up the town was covered in citrus groves and cattle ranches until the population began to grow rapidly in the 1950s and 60s with the expansion of NASA.
Merritt Island is located within two zip codes. North of SR520 is 32953 and south of the road is 32952. There are also two separate peninsulas that make the island. The main peninsula is located between the Indian River and Sykes Creek. The southern part of this peninsula is known for high end riverfront properties. Honeymoon Hill is regarded as the most expensive neighborhood on south tropical trail. Courtenay Parkway runs north/south through the center of this part of the island and is primarily business north of SR520 and south of SR528. The northern part of the island is rural and less developed, especially north of the barge canal; where quite a few of the cattle ranches that established the area still exist. The islands other peninsula is known as Newfound Harbor. Newfound Harbor is a strange mix of high-end houses and low-end houses; it is not unusual to see million dollar homes neighbored by trailer parks. Newfound Harbor is bordered by Sykes Creek to the west and the Banana River to the east.
Merritt Island is in East Central Florida. It's population as recorded in the 2010 Census was 34,743. Merritt Island is approximately 46 miles from Orlando (population 238,300) and around 20 miles from Palm Bay (population 103,190).
The median age for residents of Merritt Island is 47.6. Around 26.1% of Merritt Island households include school aged children and 34.2% of households include individuals aged 65 years or over. Census records indicate 88.7% of the Merritt Island population are White, 4.8% are Black or African American, .4% American Indian, 2.2% Asian and 2.5% are Two or more Races.
There are 17,036 housing units in Merritt Island. 2,282 (13.3%) of these were reported as vacant in the 2010 Census. There are 4,298 residential rental units in Merritt Island. 3,687 of them were occupied in 2010 providing a residential rental vacancy rate of 13.8%.
Merritt Island links:
Links
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 | |
|---|---|---|---|---|
| 932 Coral Springs St | Single Family | 2,006 | B |
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| 952 Coral Springs St | Single Family | 2,570 | B |
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| 1022 Jan'S Pl | Single Family | 2,384 | B |
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| 922 Coral Springs St | Single Family | 2,530 | B |
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| 943 Coral Springs St | Single Family | 2,472 | B |
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| 933 Coral Springs St | Single Family | 2,822 | B |
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| 953 Coral Springs St | Single Family | 2,006 | B |
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| 923 Coral Springs St | Single Family | 2,592 | B |
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| 1043 Jan'S Pl | Single Family | 2,910 | B |
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| 912 Coral Springs St | Single Family | 2,592 | B |
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| 1032 Jan'S Pl | Single Family | 2,720 | B |
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| 1006 Acappella Dr | Single Family | 2,827 | B |
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| 913 Coral Springs St | Single Family | 2,006 | B |
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| 1027 Acappella Dr | Single Family | 2,572 | B |
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| 1046 Acappella Dr | Single Family | 2,414 | B |
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| 902 Coral Springs St | Single Family | 2,833 | B |
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| 1042 Jan'S Pl | Single Family | 3,658 | B |
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| 950 Shaw Cir | Single Family | 2,413 | B |
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| 952 Shaw Cir | Single Family | 2,050 | B |
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| 903 Coral Springs St | Single Family | 3,498 | B |
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| 1056 Acappella Dr | Single Family | 2,236 | B |
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| 1037 Acappella Dr | Single Family | 2,422 | B |
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| 892 Coral Springs St | Single Family | 2,434 | B |
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| 948 Shaw Cir | Single Family | 1,913 | B |
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| 1052 Jan'S Pl | Single Family | 2,720 | B |
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| 1063 Jan'S Pl | Single Family | 2,539 | B |
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| 954 Shaw Cir | Single Family | 1,912 | B |
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| 893 Coral Springs St | Single Family | 2,592 | B |
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| 1047 Acappella Dr | Single Family | 2,625 | B |
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| 1066 Acappella Dr | Single Family | 2,444 | B |
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| 946 Shaw Cir | Single Family | 1,870 | B |
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| 956 Shaw Cir | Single Family | 2,489 | B |
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| 882 Coral Springs St | Single Family | 2,498 | B |
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| 1062 Jan'S Pl | Single Family | 2,696 | B |
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| 1073 Jan'S Pl | Single Family | 2,572 | B |
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| 1057 Acappella Dr | Single Family | 2,407 | B |
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| 944 Shaw Cir | Single Family | 2,070 | B |
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| 1791 Wekiva Dr | Single Family | 2,090 | B |
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| 883 Coral Springs St | Single Family | 2,628 | B |
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| 1076 Acappella Dr | Single Family | 2,592 | B |
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| 1800 Wekiva Dr | Single Family | 1,877 | B |
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| 951 Shaw Cir | Single Family | 1,789 | B |
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| 958 Shaw Cir | Single Family | 2,070 | B |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 1394 Alto Vista Dr | .49 | 0 | $895,000 | |
| 6005 Highway 1 S | .77 | 2,138 | $701,000 |
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| 7285 Waelti Dr | 1.07 | 5,600 | $18,250,000 |
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| 513 Topsail Dr | 1.17 | 0 | $994,900 | |
| 523 Bosun Ct | 1.18 | 0 | $249,000 | |
| 7777 Wickham Rd N | 1.18 | 86,327 | $90,000 |
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| 1208 Continental Ave | 1.31 | 2,058 | $369,900 |
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| 1790 Independence Ave | 1.46 | 0 | $85,000 | |
| 743 Pine Island Dr | 2.2 | 1,170 | $335,000 |
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| 727 Spring Lake Dr | 2.22 | 2,373 | $590,000 |
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| 6335 Tropical Trl S | 2.24 | 1,940 | $3,700,000 |
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| 110 River Woods Dr | 2.28 | 2,941 | $785,000 |
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| 798 Spanish Cove Dr | 2.4 | 2,196 | $624,900 |
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| 816 Spanish Cove Dr | 2.43 | 2,185 | $699,900 |
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| 940 Wimbledon Dr | 2.83 | 1,628 | $519,900 |
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Local Household Income
The median household income in this part of Florida is $62,468. The bottom 10% of the population earn less than $20,497 per year. The top 10% earn more than $145,332 per year. The top 1% earn more than $390,929 per year. Most renters earn between $28,824 (20th percentile) and $50,820 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $124,936 and $156,170.
The tax assessed value of this property places it in percentile 94 of all properties in this area. This suggests it would appeal to someone earning around $176,120 per year who should qualify for a mortgage between $352,240 and $440,300.
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 $871. Most renters earn between $2,402 and $4,235 per month. They typically spend 32% of their monthly income on rent. Most rents fall in the $635 (20th percentile) to $1,227 (80th percentile) range. The residential vacancy rate is 10%.
This property falls in percentile 94 of all properties in this area. This corresponds to a rent of $1,615 per month and a monthly household income of $5,503 ($66,036 per year)
Nearby Companies
1006 Acappella Dr
1006 Acappella Dr
1006 Acappella Dr
1032 Jans Pl
1073 Jan'S Pl
1042 Jans Pl
958 Shaw Cir
958 Shaw Cir