480 Tortuga Way, West Melbourne
Brevard County Real Estate - Melbourne
The City of Melbourne is located on east central Florida's Space Coast. Melbourne is about an hour's drive south of the Kennedy Space center, and 1-1/2 hours due east of Disney World. The City is in the southern portion of Brevard County. Interstate-95 runs through the county from north-to-south. Access roads from the west include the Beach line Expressway (formerly the Beeline) and US. 192, which runs through Melbourne to the beaches.
While most of Melbourne is located on the Florida mainland, a small portion is located on a barrier island. The Indian River Lagoon separates the mainland from the island. The island is a narrow strip of land that separates the Lagoon from the Atlantic Ocean. Spanning the Indian River Lagoon to connect the mainland to the barrier island are a pair of four-lane, high-rise bridges -- the Melbourne Causeway and the Eau Gallie Causeway.
The City is approximately 41 square miles in size, with about 75% of that land in use. The City of Melbourne population was 78,427 as of April 1, 2010, according to the University of Florida Bureau of Economic and Business Research. The population of Melbourne continues to grow at a modest rate. Melbourne is located at the center of a much larger urban area, the Palm Bay-Melbourne-Titusville, Florida Metropolitan Statistical Area.
Melbourne International Airport serves Florida's Space and Treasure Coasts with domestic and international passenger and air freight service. Melbourne International Airport is served by carriers including Delta Airlines and US Airways. The Airport also provides services including charter passenger flights, private aviation, and air freight flights. International services include U.S. Customs, I.N.S., and U.S.D.A.
The city was named Melbourne in honor of its first postmaster, Cornthwaite John Hector, an Englishman who had spent much of his life in Melbourne, Australia.
Melbourne contains defense and technology companies with a high concentration of high-tech workers. The following corporations have operations in Melbourne:
- DRS Technologies
- General Electric Transportation Systems and GE Energy Automation
- HarrisCorporation (including corporate headquarters)
- Northrop Grumman employed 1,640 workers in 2009
- Rockwell Collins employed 1,430 in 2009
- Embraer completed a 89,000 square feet hanger and administrative office at the Melbourne Airport in February 2011.
- Live TV has its headquarters in Melbourne
Melbourne has two downtown business districts, a result of the merger of Eau Gallie into Melbourne:
- Downtown Eau Gallie Arts District
- Historic Downtown Melbourne. Among other retail outlets, this has 26 eating and drinking establishments within a four block extent.
Melbourne is in East Central Florida. It's population as recorded in the 2010 Census was 76,068.
The median age for residents of Melbourne is 43.3. Around 23.5% of Melbourne households include school aged children and 32.4% of households include individuals aged 65 years or over. Census records indicate 80.9% of the Melbourne population are White, 10.3% are Black or African American, .3% American Indian, 3.1% Asian and 3.1% are Two or more Races.
There are 38,955 housing units in Melbourne. 4,915 (12.6%) of these were reported as vacant in the 2010 Census. There are 15,728 residential rental units in Melbourne. 13,725 of them were occupied in 2010 providing a residential rental vacancy rate of 12.5%.
Melbourne 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 | |
|---|---|---|---|---|
| 490 Tortuga Way | Single Family | 2,252 | B |
 |
| 470 Tortuga Way | Single Family | 3,055 | B |
|
| 460 Tortuga Way | Single Family | 1,865 | B |
|
| 500 Tortuga Way | Single Family | 1,865 | B |
|
| 450 Tortuga Way | Single Family | 3,055 | B |
|
| 510 Tortuga Way | Single Family | 2,862 | B |
|
| 471 Tortuga Way | Single Family | 2,862 | B |
|
| 481 Tortuga Way | Single Family | 3,055 | B |
|
| 461 Tortuga Way | Single Family | 1,865 | B |
|
| 491 Tortuga Way | Single Family | 2,252 | B |
|
| 440 Tortuga Way | Single Family | 2,862 | B |
|
| 520 Tortuga Way | Single Family | 1,620 | B |
|
| 501 Tortuga Way | Single Family | 3,055 | B |
|
| 451 Tortuga Way | Single Family | 3,055 | B |
|
| 3405 Vera St | Vacant Residential | 0 | L | |
| 511 Tortuga Way | Single Family | 2,862 | B |
|
| 430 Tortuga Way | Single Family | 2,252 | B |
|
| 530 Tortuga Way | Single Family | 2,252 | B |
|
| 3415 Vera St | Single Family | 584 | C |
|
| 2992 Chica Cir | Single Family | 3,055 | B |
|
| 3002 Chica Cir | Single Family | 2,862 | B |
|
| 521 Tortuga Way | Single Family | 2,252 | B |
|
| 2982 Chica Cir | Single Family | 1,865 | B |
|
| 3012 Chica Cir | Single Family | 1,865 | B |
|
| 3355 Nancy St | Vacant Residential | 0 | L | |
| 540 Tortuga Way | Single Family | 2,862 | B |
|
| 420 Tortuga Way | Single Family | 2,862 | B |
|
| 3022 Chica Cir | Single Family | 2,252 | B |
|
| 2972 Chica Cir | Single Family | 2,252 | B |
|
| 2903 Chica Cir | Single Family | 1,865 | B |
|
| 3385 Nancy St | Single Family | 520 | C |
|
| 531 Tortuga Way | Single Family | 3,055 | B |
|
| 3425 Vera St | Single Family | 1,270 | C |
|
| 3032 Chica Cir | Single Family | 3,055 | B |
|
| 2913 Chica Cir | Single Family | 2,252 | B |
|
| 3389 Nancy St | Single Family | 1,040 | C |
|
| 550 Tortuga Way | Single Family | 3,055 | B |
|
| 3042 Chica Cir | Single Family | 2,862 | B |
|
| 541 Tortuga Way | Single Family | 2,862 | B |
|
| 2923 Chica Cir | Single Family | 3,055 | B |
|
| 3052 Chica Cir | Single Family | 2,252 | B |
|
| 400 Tortuga Way | Single Family | 1,865 | B |
|
| 3417 Nancy St | Single Family | 1,236 | C |
|
| 2933 Chica Cir | Single Family | 3,055 | B |
|
| 551 Tortuga Way | Single Family | 1,865 | B |
|
| 3062 Chica Cir | Single Family | 1,865 | B |
|
| 401 Tortuga Way | Single Family | 2,006 | B |
|
| 3275 Vera St | Single Family | 864 | C |
|
Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 3083 Chica Cir | .12 | 2,862 | $425,000 |
|
| 900 New Haven Ave W | .97 | 3,126 | $880,000 |
|
| 115 Irwin Ave Nw | 1.03 | 1,440 | $360,413 |
|
| 1932 Abington Dr | 1.04 | 1,440 | $379,000 |
|
| 3848 Town Square Blvd | 1.25 | 1,216 | $295,000 |
|
| 615 Sedgewood Cir | 1.3 | 1,378 | $325,000 |
|
| 111 New Haven Ave W | 1.35 | 3,150 | $865,000 |
|
| 2261 New Haven Ave W | 1.4 | 82,896 | $275,000 |
|
| 2261 New Haven Ave W | 1.4 | 82,896 | $540,000 |
|
| 603 Heming Way | 1.62 | 0 | $414,700 | |
| 308 Strawbridge Ave E | 1.85 | 0 | $539,000 | |
| 1600 Wickham Rd S | 2.21 | 1,699 | $235,000 |
|
| 833 New Haven Ave E | 2.27 | 8,109 | $2,990,000 |
|
| 4927 Pinewood Dr Ne | 2.4 | 1,036 | $175,000 |
|
| 1005 Strawbridge Ave E | 2.42 | 8,618 | $1,995,000 |
|
Local Household Income
The median household income in this part of Florida is $65,996. The bottom 10% of the population earn less than $23,217 per year. The top 10% earn more than $150,879 per year. The top 1% earn more than $414,648 per year. Most renters earn between $28,332 (20th percentile) and $50,268 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $131,992 and $164,990.
The tax assessed value of this property places it in percentile 85 of all properties in this area. This suggests it would appeal to someone earning around $132,426 per year who should qualify for a mortgage between $264,852 and $331,065.
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 $847. Most renters earn between $2,361 and $4,189 per month. They typically spend 33% of their monthly income on rent. Most rents fall in the $608 (20th percentile) to $1,140 (80th percentile) range. The residential vacancy rate is 8%.
This property falls in percentile 85 of all properties in this area. This corresponds to a rent of $1,238 per month and a monthly household income of $4,456 ($53,472 per year)
Nearby Companies
451 Tortuga Way
520 Tortuga Way