941 Indian Oaks Dr, 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 | |
|---|---|---|---|---|
| 931 Indian Oaks Dr | Single Family | 1,992 | B |
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| 951 Indian Oaks Dr | Single Family | 1,545 | B |
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| 921 Indian Oaks Dr | Single Family | 1,545 | B |
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| 961 Indian Oaks Dr | Single Family | 1,781 | B |
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| 971 Indian Oaks Dr | Single Family | 1,992 | B |
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| 911 Indian Oaks Dr | Single Family | 1,792 | B |
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| 981 Indian Oaks Dr | Single Family | 1,545 | B |
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| 3513 Osceola Dr | Single Family | 2,043 | B |
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| 901 Indian Oaks Dr | Single Family | 1,992 | B |
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| 3560 Egret Dr | Single Family | 1,732 | B |
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| 3562 Egret Dr | Single Family | 1,217 | B |
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| 3558 Egret Dr | Single Family | 1,770 | B |
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| 860 Indian Oaks Dr | Single Family | 1,545 | B |
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| 980 Indian Oaks Dr | Single Family | 1,545 | B |
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| 3564 Egret Dr | Single Family | 1,185 | B |
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| 991 Indian Oaks Dr | Single Family | 1,790 | B |
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| 3523 Osceola Dr | Single Family | 1,545 | B |
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| 891 Indian Oaks Dr | Single Family | 2,034 | B |
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| 3556 Egret Dr | Single Family | 1,443 | B |
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| 990 Indian Oaks Dr | Single Family | 2,034 | B |
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| 850 Indian Oaks Dr | Single Family | 1,772 | B |
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| 3566 Egret Dr | Single Family | 2,236 | B |
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| 1001 Indian Oaks Dr | Single Family | 1,781 | B |
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| 3522 Osceola Dr | Single Family | 1,992 | B |
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| 3533 Osceola Dr | Single Family | 2,034 | B |
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| 881 Indian Oaks Dr | Single Family | 1,545 | B |
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| 1000 Indian Oaks Dr | Single Family | 1,781 | B |
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| 840 Indian Oaks Dr | Single Family | 1,545 | B |
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| 3554 Egret Dr | Single Family | 1,235 | B |
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| 3568 Egret Dr | Single Family | 1,233 | B |
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| 3532 Osceola Dr | Single Family | 2,025 | B |
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| 871 Indian Oaks Dr | Single Family | 2,034 | B |
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| 1011 Indian Oaks Dr | Single Family | 1,992 | B |
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| 3543 Osceola Dr | Single Family | 1,781 | B |
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| 861 Indian Oaks Dr | Single Family | 1,992 | B |
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| 1010 Indian Oaks Dr | Single Family | 1,992 | B |
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| 830 Indian Oaks Dr | Single Family | 2,019 | B |
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| 3559 Egret Dr | Single Family | 2,158 | B |
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| 3557 Egret Dr | Single Family | 2,236 | B |
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| 3561 Egret Dr | Single Family | 1,827 | B |
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| 3542 Osceola Dr | Single Family | 2,010 | B |
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| 3552 Egret Dr | Single Family | 2,006 | B |
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| 3553 Osceola Dr | Single Family | 1,545 | B |
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| 3555 Egret Dr | Single Family | 1,684 | B |
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| 851 Indian Oaks Dr | Single Family | 1,781 | B |
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| 1021 Indian Oaks Dr | Single Family | 1,777 | B |
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| 3565 Egret Dr | Single Family | 2,236 | B |
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| 3570 Egret Dr | Single Family | 1,885 | B |
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| 1020 Indian Oaks Dr | Single Family | 1,777 | B |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 3848 Town Square Blvd | .19 | 1,216 | $295,000 |
|
| 603 Heming Way | .64 | 0 | $414,700 | |
| 4927 Pinewood Dr Ne | 1.34 | 1,036 | $175,000 |
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| 615 Sedgewood Cir | 1.7 | 1,378 | $325,000 |
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| 111 New Haven Ave W | 1.79 | 3,150 | $865,000 |
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| 900 New Haven Ave W | 1.82 | 3,126 | $880,000 |
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| 1932 Abington Dr | 1.82 | 1,440 | $379,000 |
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| 2230 Monroe St Ne | 1.83 | 2,496 | $325,000 |
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| 1294 Cimarron Cir Ne | 1.91 | 1,950 | $424,900 |
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| 1780 Live Oak St Ne | 1.94 | 828 | $129,900 |
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| 1780 Big Cypress St Ne | 1.98 | 1,104 | $200,000 |
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| 115 Irwin Ave Nw | 2.02 | 1,440 | $360,413 |
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| 308 Strawbridge Ave E | 2.08 | 0 | $539,000 | |
| 1664 Sunny Brook Ln Ne | 2.11 | 914 | $225,000 |
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| 2814 Harbor City Blvd S | 2.14 | 1,400 | $629,000 |
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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 80 of all properties in this area. This suggests it would appeal to someone earning around $117,883 per year who should qualify for a mortgage between $235,766 and $294,708.
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 80 of all properties in this area. This corresponds to a rent of $1,140 per month and a monthly household income of $4,189 ($50,268 per year)
Nearby Companies
991 Indian Oaks Dr
3560 Egret Dr
3560 Egret Dr