1001 Colonial Ave Se, Palm Bay
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 | |
|---|---|---|---|---|
| 1011 Colonial Ave Se | Single Family | 888 | C |
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| 695 Airoso Rd Se | Single Family | 1,512 | C |
|
| 999 Colonial Ave Se | Vacant Residential | 0 | L | |
| 687 Airoso Rd Se | Single Family | 1,092 | C |
|
| 1000 Colonial Ave Se | Vacant Residential | 0 | L | |
| 1021 Colonial Ave Se | Single Family | 904 | C |
|
| 701 Airoso Rd Se | Single Family | 1,008 | C |
|
| 1010 Colonial Ave Se | Single Family | 1,111 | C |
|
| 679 Airoso Rd Se | Single Family | 0 | L | |
| 991 Colonial Ave Se | Single Family | 1,625 | B |
|
| 1020 Cherokee Rd Se | Single Family | 800 | C |
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| 1031 Colonial Ave Se | Single Family | 2,035 | B |
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| 711 Airoso Rd Se | Single Family | 837 | C |
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| 1020 Colonial Ave Se | Single Family | 904 | C |
|
| 671 Airoso Rd Se | Vacant Residential | 0 | L | |
| 1011 Cherokee Rd Se | Single Family | 1,025 | C |
|
| 688 Airoso Rd Se | Single Family | 1,274 | C |
|
| 983 Colonial Ave Se | Single Family | 1,005 | C |
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| 694 Airoso Rd Se | Vacant Residential | 0 | L | |
| 1030 Colonial Ave Se | Single Family | 2,020 | B |
|
| 721 Airoso Rd Se | Vacant Residential | 0 | L | |
| 982 Colonial Ave Se | Single Family | 1,520 | B |
|
| 680 Airoso Rd Se | Vacant Residential | 0 | L | |
| 1041 Colonial Ave Se | Single Family | 1,858 | B |
|
| 1001 Braddock Ave Se | Single Family | 1,948 | B |
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| 663 Airoso Rd Se | Vacant Residential | 0 | L | |
| 995 Braddock Ave Se | Single Family | 1,056 | C |
|
| 710 Airoso Rd Se | Single Family | 1,006 | C |
|
| 672 Airoso Rd Se | Vacant Residential | 0 | L | |
| 1021 Braddock Ave Se | Single Family | 1,883 | B |
|
| 700 Avalon St Se | Vacant Residential | 0 | L | |
| 1040 Colonial Ave Se | Vacant Residential | 0 | L | |
| 1051 Cherokee Rd Se | Single Family | 1,250 | C |
|
| 731 Airoso Rd Se | Vacant Residential | 0 | L | |
| 1051 Colonial Ave Se | Single Family | 1,000 | C |
|
| 974 Colonial Ave Se | Vacant Residential | 0 | L | |
| 987 Braddock Ave Se | Single Family | 1,036 | C |
|
| 1090 Cherokee Rd Se | Vacant Residential | 0 | L | |
| 1031 Braddock Ave Se | Vacant Residential | 0 | L | |
| 710 Avalon St Se | Single Family | 1,378 | B |
|
| 664 Airoso Rd Se | Vacant Residential | 0 | L | |
| 730 Airoso Rd Se | Vacant Residential | 0 | L | |
| 655 Airoso Rd Se | Single Family | 900 | C |
|
| 1102 Cherokee Rd Se | Vacant Residential | 0 | L | |
| 1050 Colonial Ave Se | Single Family | 888 | C |
|
| 1041 Braddock Ave Se | Single Family | 1,442 | B |
|
Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 660 Merrimac St Se | .2 | 0 | $399,900 | |
| 771 Everglade Ave Se | .5 | 0 | $59,900 | |
| 581 Andrew St Se | .74 | 0 | $35,000 | |
| 961 Armstrong Rd Se | .82 | 0 | $59,900 | |
| 967 Armstrong Rd Se | .83 | 0 | $59,900 | |
| 1001 Sablon St Se | .84 | 0 | $334,750 | |
| 729 Seven Gables Cir Se | .87 | 1,352 | $350,000 |
|
| 789 Duncan Rd Se | .92 | 0 | $50,000 | |
| 2970 Emerson Dr Se | 1.04 | 0 | $47,900 | |
| 143 Inez St Se | 1.18 | 0 | $69,900 | |
| 930 Hammacher Ave Sw | 1.21 | 0 | $434,800 | |
| 160 Hanley Rd Sw | 1.32 | 0 | $37,000 | |
| 1323 Talleyrand St Se | 1.32 | 0 | $39,000 | |
| 1333 Talleyrand St Se | 1.34 | 0 | $39,000 | |
| 1374 Saxony Rd Sw | 1.43 | 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 13 of all properties in this area. This suggests it would appeal to someone earning around $25,912 per year who should qualify for a mortgage between $51,824 and $64,780.
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 13 of all properties in this area. This corresponds to a rent of $527 per month and a monthly household income of $2,171 ($26,052 per year)