303 Island Dr, 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:
Links
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 | |
|---|---|---|---|---|
| 301 Island Dr | Single Family | 2,476 | A |
 |
| 305 Island Dr | Single Family | 2,826 | A |
|
| 280 Spoonbill Ln | Single Family | 1,818 | B |
|
| 270 Spoonbill Ln | Single Family | 2,059 | B |
|
| 290 Spoonbill Ln | Single Family | 1,968 | B |
|
| 260 Spoonbill Ln | Vacant Residential | 0 | L | |
| 302 Island Dr | Single Family | 2,306 | A |
|
| 307 Island Dr | Vacant Residential | 0 | L | |
| 300 Spoonbill Ln | Single Family | 2,061 | B |
|
| 306 Island Dr | Single Family | 2,206 | A |
|
| 250 Spoonbill Ln | Single Family | 1,728 | B |
|
| 310 Spoonbill Ln | Single Family | 1,617 | B |
|
| 309 Island Dr | Single Family | 2,295 | A |
|
| 4944 Idle Hour Ct | Single Family | 2,211 | B |
|
| 308 Island Dr | Single Family | 2,051 | B |
|
| 240 Spoonbill Ln | Single Family | 1,936 | B |
|
| 209 Ivory Dr | Single Family | 2,141 | A |
|
| 207 Ivory Dr | Single Family | 2,231 | A |
|
| 285 Spoonbill Ln | Single Family | 1,798 | B |
|
| 4942 Idle Hour Ct | Single Family | 2,316 | A |
|
| 211 Ivory Dr | Single Family | 2,505 | A |
|
| 275 Spoonbill Ln | Single Family | 2,036 | B |
|
| 320 Spoonbill Ln | Single Family | 1,536 | B |
|
| 205 Ivory Dr | Single Family | 2,492 | A |
|
| 305 Spoonbill Ln | Single Family | 2,232 | B |
|
| 265 Spoonbill Ln | Single Family | 1,453 | B |
|
| 311 Island Dr | Single Family | 2,532 | A |
|
| 4946 Idle Hour Ct | Single Family | 2,658 | A |
|
| 213 Ivory Dr | Single Family | 1,968 | A |
|
| 230 Spoonbill Ln | Vacant Residential | 0 | L | |
| 310 Island Dr | Single Family | 1,913 | A |
|
| 4940 Idle Hour Ct | Single Family | 2,153 | A |
|
| 255 Spoonbill Ln | Single Family | 2,148 | B |
|
| 330 Spoonbill Ln | Single Family | 1,181 | B |
|
| 215 Ivory Dr | Single Family | 2,766 | A |
|
| 245 Spoonbill Ln | Single Family | 1,470 | B |
|
| 325 Spoonbill Ln | Single Family | 2,222 | A |
|
| 220 Spoonbill Ln | Vacant Residential | 0 | L | |
| 313 Island Dr | Single Family | 2,218 | A |
|
| 312 Island Dr | Single Family | 2,471 | A |
|
| 340 Spoonbill Ln | Single Family | 2,221 | A |
|
Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 5255 Highway A1a | .6 | 3,416 | $2,950,000 |
|
| 5587 Cord Grass Ln | 1.14 | 1,033 | $499,000 |
|
| 5675 Highway A1a | 1.41 | 4,461 | $4,150,000 |
|
| 5675 Highway A1a | 1.41 | 4,461 | $3,999,000 |
|
| 5835 Riverside Dr | 1.57 | 2,089 | $425,000 |
|
| 5865 Highway A1a | 1.77 | 2,763 | $2,695,000 |
|
| 3080 New Jersey Ave | 2.36 | 1,301 | $900,000 |
|
| 6465 Highway A1a | 2.89 | 4,048 | $3,397,777 |
|
| 1280 Highway 1 | 3.01 | 3,209 | $1,700,000 |
|
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 88 of all properties in this area. This suggests it would appeal to someone earning around $172,290 per year who should qualify for a mortgage between $344,580 and $430,725.
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 88 of all properties in this area. This corresponds to a rent of $1,628 per month and a monthly household income of $5,987 ($71,844 per year)
Nearby Companies
306 Island Dr
290 Spoonbill Ln