2485 Homestead Ln, Malabar
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 | |
|---|---|---|---|---|
| 2455 Homestead Ln | Single Family | 1,425 | B |
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| 1455 Atz Rd | Single Family | 1,746 | B |
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| 2435 Homestead Ln | Single Family | 1,592 | B |
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| 2480 Homestead Ln | Single Family | 2,194 | B |
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| 1540 Atz Rd | Single Family | 2,010 | B |
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| 2450 Homestead Ln | Single Family | 1,504 | C |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 1572 Malabar Rd | 1.01 | 0 | $295,000 | |
| 1495 Absaroka Ln | 1.26 | 0 | $220,000 | |
| 880 Malabar Rd | 1.27 | 900 | $1,500,000 |
|
| 2264 Ladner Rd Ne | 1.62 | 0 | $49,900 | |
| 3080 New Jersey Ave | 2.11 | 1,301 | $900,000 |
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| 1498 Norman St Ne | 2.46 | 0 | $99,800 | |
| 1333 Talleyrand St Se | 2.51 | 0 | $39,000 | |
| 1647 Sadigo St Se | 2.51 | 0 | $399,990 | |
| 1323 Talleyrand St Se | 2.53 | 0 | $39,000 | |
| 280 Valkaria Rd | 2.56 | 1,814 | $569,900 |
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| 1671 Palatka Rd Se | 2.67 | 1,036 | $255,000 |
|
| 1181 Daytona Dr Ne | 2.75 | 1,092 | $284,000 |
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| 1698 Colorado St Se | 2.91 | 0 | $284,900 | |
| 1139 Brickell St Se | 2.93 | 1,444 | $300,000 |
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| 1194 Ver Cir Ne | 2.94 | 0 | $415,000 | |
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 88 of all properties in this area. This suggests it would appeal to someone earning around $114,256 per year who should qualify for a mortgage between $228,512 and $285,640.
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 88 of all properties in this area. This corresponds to a rent of $1,369 per month and a monthly household income of $3,770 ($45,240 per year)
Nearby Companies
2485 Homestead Ln
2485 Homestead Ln