2525 Spence Dr Ne, Palm Bay

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:

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

AddressTypeSq FtClass 
2511 Spence Dr Ne Single Family 624 C
2539 Spence Dr Ne Single Family 790 C
2518 Victoria Dr Ne Single Family 792 C
2505 Spence Dr Ne Multi-family - less than 10 units 1,338 C
2502 Victoria Dr Ne Vacant Residential 0 L
2534 Victoria Dr Ne Single Family 1,184 C
2553 Spence Dr Ne Single Family 794 C
2524 Spence Dr Ne Single Family 1,054 C
2510 Spence Dr Ne Single Family 1,196 C
2538 Spence Dr Ne Single Family 1,142 C
2550 Victoria Dr Ne Single Family 1,488 C
2567 Spence Dr Ne Single Family 744 C
2552 Spence Dr Ne Vacant Residential 0 L
2309 Shenandoah Rd Ne Single Family 846 C
2566 Victoria Dr Ne Single Family 1,230 C
2300 Shenandoah Rd Ne Multi-family - less than 10 units 1,964 C
2566 Spence Dr Ne Single Family 1,136 C
2517 Victoria Dr Ne Single Family 1,344 C
2304 Shenandoah Rd Ne Multi-family - less than 10 units 1,612 C
2551 Clinton Dr Ne Multi-family - less than 10 units 1,864 C
2581 Spence Dr Ne Multi-family - less than 10 units 2,458 C
2541 Clinton Dr Ne Single Family 672 C
2561 Clinton Dr Ne Single Family 904 C
2535 Victoria Dr Ne Single Family 851 C
2582 Victoria Dr Ne Single Family 998 C
2571 Clinton Dr Ne Single Family 1,506 C
2531 Clinton Dr Ne Single Family 1,140 C
2551 Victoria Dr Ne Single Family 1,002 C
2308 Shenandoah Rd Ne Multi-family - less than 10 units 1,612 C
2501 Victoria Dr Ne Municipal Owned 0 L
2581 Clinton Dr Ne Single Family 1,374 C
2567 Victoria Dr Ne Single Family 1,520 C
2595 Spence Dr Ne Single Family 1,047 C
2521 Clinton Dr Ne Single Family 720 C
2580 Spence Dr Ne Office building, non-professional service building, one story 2,100 B
2598 Victoria Dr Ne Club, lodge or union hall 1,936 B
2312 Shenandoah Rd Ne Multi-family - less than 10 units 1,612 C
2583 Victoria Dr Ne Mixed use - store and office or store and residential or residential combination 1,488 C
3180 Dixie Hwy Ne Office building, non-professional service building, one story 396 C
2550 Clinton Dr Ne Single Family 1,388 C
2560 Clinton Dr Ne Single Family 1,221 C
2540 Clinton Dr Ne Single Family 686 C
3090 Dixie Hwy Ne Office building, non-professional service building, one story 1,159 C

Nearest MLS Listings

Nearest properties for sale within 3 miles of this location

AddressMilesSq FtPrice 
2502 Victoria Dr Ne .03 0 $79,000
2598 Victoria Dr Ne .08 1,936 $405,000
2814 Harbor City Blvd S .44 1,400 $629,000
2230 Monroe St Ne .49 2,496 $325,000
1780 Big Cypress St Ne 1.19 1,104 $200,000
1780 Live Oak St Ne 1.21 828 $129,900
4204 Canby Dr 1.33 2,306 $415,000
833 New Haven Ave E 1.41 8,109 $2,990,000
1005 Strawbridge Ave E 1.42 8,618 $1,995,000
308 Strawbridge Ave E 1.8 0 $539,000
4927 Pinewood Dr Ne 1.84 1,036 $175,000
1500 Main St Ne 1.86 11,200 $1,099,000
2179 Julian Ave Ne 1.98 1,870 $395,000
2061 Palm Bay Rd Ne 2.02 968 $300,000
4509 Babcock St Ne 2.04 3,676 $950,000

Local Household Income

The median household income in this part of Florida is $52,102. The bottom 10% of the population earn less than $18,452 per year. The top 10% earn more than $121,913 per year. The top 1% earn more than $336,928 per year. Most renters earn between $25,716 (20th percentile) and $40,716 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $104,204 and $130,255.

The tax assessed value of this property places it in percentile 46 of all properties in this area. This suggests it would appeal to someone earning around $48,444 per year who should qualify for a mortgage between $96,888 and $121,110.

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 $923. Most renters earn between $2,143 and $3,393 per month. They typically spend 37% of their monthly income on rent. Most rents fall in the $700 (20th percentile) to $1,197 (80th percentile) range. The residential vacancy rate is 7%.

This property falls in percentile 46 of all properties in this area. This corresponds to a rent of $896 per month and a monthly household income of $2,629 ($31,548 per year)

Nearby Companies

Steamboat Carpet Cleaning, Inc.
2583 Victoria Dr Ne
Disclaimers and Disclosures

Public Records Data

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