3207 River Villa Way, Melbourne Beach
Brevard County Real Estate - Malabar
Malabar is a small town located south of Palm Bay in Brevard County, Florida. Established in 1883 and incorporated in 1962, Malabar is known for its old-Florida atmosphere and semi-rural environment.
Malabar is in East Central Florida. It's population as recorded in the 2010 Census was 2,757. Malabar is approximately 52 miles from Port Saint Lucie (population 164,603) and around 3 miles from Palm Bay (population 103,190).
The median age for residents of Malabar is 50. Around 25.1% of Malabar households include school aged children and 32.4% of households include individuals aged 65 years or over. Census records indicate 91.6% of the Malabar population are White, 3.8% are Black or African American, .4% American Indian, .9% Asian and 2.4% are Two or more Races.
There are 1,239 housing units in Malabar. 115 (9.2%) of these were reported as vacant in the 2010 Census. Malabar is a tourist destination, 36.5% (42) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 128 residential rental units in Malabar. 111 of them were occupied in 2010 providing a residential rental vacancy rate of 12.5%.
Malabar 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 | |
|---|---|---|---|---|
| 3205 River Villa Way | Single Family | 1,404 | B |
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| 3209 River Villa Way | Single Family | 923 | B |
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| 3203 River Villa Way | Single Family | 1,404 | B |
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| 3211 River Villa Way | Single Family | 1,404 | B |
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| 3201 River Villa Way | Single Family | 1,437 | B |
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| 3213 River Villa Way | Single Family | 1,404 | B |
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| 3215 River Villa Way | Single Family | 1,437 | B |
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| 3210 Sea Shore Way | Single Family | 1,421 | B |
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| 3212 Sea Shore Way | Single Family | 1,421 | B |
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| 3136 River Villa Way | Single Family | 2,240 | B |
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| 3134 River Villa Way | Single Family | 2,240 | B |
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| 3138 River Villa Way | Single Family | 2,263 | B |
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| 3132 River Villa Way | Single Family | 2,194 | B |
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| 3140 River Villa Way | Single Family | 2,194 | B |
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| 3214 Sea Shore Way | Single Family | 927 | B |
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| 3130 River Villa Way | Single Family | 2,194 | B |
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| 3216 Sea Shore Way | Single Family | 1,421 | B |
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| 235 Sea Coral Way | Single Family | 1,122 | B |
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| 225 Sea Coral Way | Single Family | 1,487 | B |
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| 3124 River Villa Way | Single Family | 2,214 | B |
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| 215 Sea Coral Way | Single Family | 1,487 | B |
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| 245 Sea Coral Way | Single Family | 1,122 | B |
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| 3122 River Villa Way | Single Family | 2,448 | B |
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| 3190 River Gardens Ct | Single Family | 1,158 | B |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 2,040 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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| 3220 River Villa Way | Condominium | 1,375 | A |
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| 3220 River Villa Way | Condominium | 1,875 | A |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 3140 Highway A1a | .26 | 1,515 | $899,000 |
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| 2990 Highway A1a | .61 | 3,072 | $1,299,000 |
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| 4845 Dixie Hwy Ne | 1.75 | 4,188 | $5,999,982 |
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| 4720 Dixie Hwy Ne | 1.8 | 2,672 | $1,399,000 |
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| 3112 Tangelo Dr Ne | 2.08 | 1,008 | $159,900 |
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| 1280 Highway 1 | 2.1 | 3,209 | $1,700,000 |
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| 925 Abeto St Ne | 2.13 | 1,092 | $299,900 |
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| 2971 Indian River Dr Ne | 2.16 | 672 | $158,000 |
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| 3079 Indian River Dr Ne | 2.16 | 672 | $129,500 |
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| 915 Bianca Dr Ne | 2.19 | 801 | $275,000 |
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| 1181 Daytona Dr Ne | 2.36 | 1,092 | $284,000 |
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| 1500 Main St Ne | 2.45 | 11,200 | $1,099,000 |
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| 1194 Ver Cir Ne | 2.48 | 0 | $415,000 | |
| 3080 New Jersey Ave | 2.81 | 1,301 | $900,000 |
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| 502 Colony St | 3.09 | 2,355 | $799,000 |
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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 37 of all properties in this area. This suggests it would appeal to someone earning around $56,010 per year who should qualify for a mortgage between $112,020 and $140,025.
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 37 of all properties in this area. This corresponds to a rent of $881 per month and a monthly household income of $3,351 ($40,212 per year)
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