501 Sherman St Se, Palm Bay
Brevard County Real Estate - Palm Bay
Palm Bay is in East Central Florida. It's population as recorded in the 2010 Census was 103,190.
The median age for residents of Palm Bay is 39.8. Around 33.8% of Palm Bay households include school aged children and 28.7% of households include individuals aged 65 years or over. Census records indicate 72.9% of the Palm Bay population are White, 17.9% are Black or African American, .4% American Indian, 1.7% Asian and 3.5% are Two or more Races.
There are 45,220 housing units in Palm Bay. 5,738 (12.6%) of these were reported as vacant in the 2010 Census. There are 11,507 residential rental units in Palm Bay. 10,117 of them were occupied in 2010 providing a residential rental vacancy rate of 11.7%.
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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 | |
|---|---|---|---|---|
| 511 Sherman St Se | Single Family | 1,574 | C |
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| 510 Coconut St Se | Vacant Residential | 0 | L | |
| 521 Sherman St Se | Vacant Residential | 0 | L | |
| 742 Trinidad Ave Se | Vacant Residential | 0 | L | |
| 510 Sherman St Se | Vacant Residential | 0 | L | |
| 520 Coconut St Se | Vacant Residential | 0 | L | |
| 756 Trinidad Ave Se | Vacant Residential | 0 | L | |
| 728 Trinidad Ave Se | Vacant Residential | 0 | L | |
| 770 Trinidad Ave Se | Single Family | 1,524 | C |
|
| 520 Sherman St Se | Single Family | 864 | C |
|
| 531 Sherman St Se | Vacant Residential | 0 | L | |
| 530 Coconut St Se | Vacant Residential | 0 | L | |
| 714 Trinidad Ave Se | Single Family | 1,032 | C |
|
| 743 Eldron Blvd Se | Vacant Residential | 0 | L | |
| 501 Seville St Se | Single Family | 1,621 | B |
|
| 501 Coconut St Se | Single Family | 1,569 | C |
|
| 530 Sherman St Se | Single Family | 1,000 | C |
|
| 784 Trinidad Ave Se | Single Family | 884 | C |
|
| 729 Eldron Blvd Se | Vacant Residential | 0 | L | |
| 541 Sherman St Se | Single Family | 1,402 | B |
|
| 521 Seville St Se | Single Family | 1,246 | B |
|
| 521 Coconut St Se | Vacant Residential | 0 | L | |
| 700 Trinidad Ave Se | Single Family | 1,112 | C |
|
| 715 Eldron Blvd Se | Vacant Residential | 0 | L | |
| 785 Eldron Blvd Se | Vacant Residential | 0 | L | |
| 550 Coconut St Se | Single Family | 2,141 | B |
|
| 531 Coconut St Se | Single Family | 1,464 | B |
|
| 531 Seville St Se | Single Family | 1,205 | B |
|
| 691 Trinidad Ave Se | Vacant Residential | 0 | L | |
| 551 Sherman St Se | Vacant Residential | 0 | L | |
| 540 Sherman St Se | Single Family | 1,068 | B |
|
| 798 Trinidad Ave Se | Vacant Residential | 0 | L | |
| 701 Eldron Blvd Se | Vacant Residential | 0 | L | |
| 692 Trinidad Ave Se | Single Family | 1,144 | C |
|
| 541 Coconut St Se | Single Family | 1,164 | C |
|
| 541 Seville St Se | Vacant Residential | 0 | L | |
| 799 Eldron Blvd Se | Single Family | 2,284 | B |
|
| 500 Andrew St Se | Single Family | 1,016 | C |
|
| 561 Sherman St Se | Single Family | 1,373 | B |
|
| 675 Trinidad Ave Se | Single Family | 2,027 | B |
|
| 693 Eldron Blvd Se | Vacant Residential | 0 | L |
Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 581 Andrew St Se | .24 | 0 | $35,000 | |
| 771 Everglade Ave Se | .4 | 0 | $59,900 | |
| 930 Hammacher Ave Sw | .85 | 0 | $434,800 | |
| 660 Merrimac St Se | .88 | 0 | $399,900 | |
| 961 Armstrong Rd Se | .94 | 0 | $59,900 | |
| 967 Armstrong Rd Se | .94 | 0 | $59,900 | |
| 789 Duncan Rd Se | 1.15 | 0 | $50,000 | |
| 328 Danis Rd Sw | 1.21 | 0 | $59,000 | |
| 126 Deauville Ave Se | 1.25 | 0 | $55,000 | |
| 236 Santo Domingo Ave Sw | 1.31 | 0 | $49,900 | |
| 160 Hanley Rd Sw | 1.32 | 0 | $37,000 | |
| 433 Harrington St Sw | 1.34 | 0 | $349,900 | |
| 143 Inez St Se | 1.37 | 0 | $69,900 | |
| 203 Eldron Blvd Ne | 1.4 | 0 | $67,000 | |
| 1085 Harlingen Rd Sw | 1.4 | 0 | $35,000 | |
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 11 of all properties in this area. This suggests it would appeal to someone earning around $23,982 per year who should qualify for a mortgage between $47,964 and $59,955.
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 11 of all properties in this area. This corresponds to a rent of $504 per month and a monthly household income of $2,155 ($25,860 per year)
Nearby Companies
770 Trinidad Ave Se
501 Coconut Street Se
521 Seville Street South East