460 Riggs Ave, 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 | |
|---|---|---|---|---|
| 440 Riggs Ave | Single Family | 2,390 | B |
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| 455 Spoonbill Ln | Single Family | 3,018 | A |
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| 430 Riggs Ave | Single Family | 2,712 | A |
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| 445 Riggs Ave | Single Family | 2,030 | B |
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| 445 Spoonbill Ln | Single Family | 2,721 | A |
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| 435 Spoonbill Ln | Single Family | 2,528 | B |
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| 425 Spoonbill Ln | Single Family | 2,533 | B |
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| 410 Riggs Ave | Single Family | 1,191 | A |
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| 415 Riggs Ave | Single Family | 2,000 | B |
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| 450 Spoonbill Ln | Single Family | 2,365 | B |
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| 460 Spoonbill Ln | Single Family | 2,386 | B |
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| 463 Spoonbill Ln | Single Family | 2,513 | B |
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| 430 Spoonbill Ln | Single Family | 1,545 | B |
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| 480 Spoonbill Ln | Single Family | 3,220 | B |
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| 400 Riggs Ave | Single Family | 2,006 | B |
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| 420 Ross Ave | Single Family | 1,584 | B |
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| 405 Spoonbill Ln | Single Family | 1,744 | B |
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| 405 Riggs Ave | Vacant Residential | 0 | L | |
| 420 Spoonbill Ln | Single Family | 1,626 | B |
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| 430 Ross Ave | Single Family | 2,505 | B |
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| 490 Spoonbill Ln | Single Family | 6,856 | A |
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| 410 Ross Ave | Single Family | 2,366 | B |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 5255 Highway A1a | .72 | 3,416 | $2,950,000 |
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| 5587 Cord Grass Ln | 1.15 | 1,033 | $499,000 |
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| 5675 Highway A1a | 1.47 | 4,461 | $4,150,000 |
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| 5675 Highway A1a | 1.47 | 4,461 | $3,999,000 |
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| 5835 Riverside Dr | 1.56 | 2,089 | $425,000 |
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| 5865 Highway A1a | 1.82 | 2,763 | $2,695,000 |
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| 3080 New Jersey Ave | 2.13 | 1,301 | $900,000 |
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| 1280 Highway 1 | 2.84 | 3,209 | $1,700,000 |
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| 6465 Highway A1a | 2.93 | 4,048 | $3,397,777 |
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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 97 of all properties in this area. This suggests it would appeal to someone earning around $385,340 per year who should qualify for a mortgage between $770,680 and $963,350.
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 97 of all properties in this area. This corresponds to a rent of $2,250 per month and a monthly household income of $8,238 ($98,856 per year)
Nearby Companies
425 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
480 Spoonbill Ln
460 Riggs Ave
420 Ross Ave