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Palm Bay, FL Multifamily Homes & Duplexes for Sale

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    $269,995

    • 1,488 Sq Ft

    1069 Bacon Cir NE, Palm Bay, FL 32905

    Great income generating duplex with long term tenants paying $2,140 per month rent. One lease has 9 months left and the other has 1 year left. 7% CAP rate.Offered individually OR as a package with 1336 Pace Drive NW Palm Bay, FL (MLS# F10496486).

    Adam Von Romer CCIM Axis Realty Advisors, INC

    1069 Bacon Cir NE, Palm Bay, FL 32905
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    $1,300,000

    • 3,296 Sq Ft

    826 Hunan St NE, Palm Bay, FL 32907

    Gentle Hand ALF is a fully licensed, turnkey assisted living facility that is currently operational and generating steady income. This 4 bedroom home is approved for six residents beds and has undergone several hundred thousand dollars in recent renovations, including a full fire alarm and suppression system, backup generator, and all infrastructure required for regulatory compliance. Each of the

    Cody Spaur Landshark Realty

    826 Hunan St NE, Palm Bay, FL 32907

Why Live in Palm Bay

Palm Bay's Turkey Creek Sanctuary provides a serene escape with boardwalks and trails where residents regularly spot manatees and native wildlife. The Indian River Lagoon creates abundant opportunities for fishing, boating, and kayaking, while Castaways Point Park features fishing piers and stunning waterfront views. The city maintains extensive recreational facilities including Palm Bay Regional Park, Fred Poppe Regional Park, and the Palm Bay Aquatic Center with its pools and water slides. Local dining ranges from waterfront seafood at The Shack Riverfront Restaurant to authentic Italian at Trattoria Bella, known for tableside four-cheese pasta preparations.

The housing market in Palm Bay presents diverse options across several neighborhoods. The median price for single family homes is $340,000, with variations by area: Bayside Lakes commands $365,000, while Bayfront Village homes typically list at $270,000. Condominiums start at a median price of $131,000 for one bedroom units and $154,900 for two bedrooms. Townhomes have a median price of $199,300.

Property taxes in Palm Bay remain competitive at 0.7%, matching neighboring Melbourne and West Melbourne. Florida residents benefit from no state income tax and a combined sales tax rate of 6.95%. The education system includes several highly rated private schools such as Holy Trinity Episcopal Academy and Saint Joseph Catholic School, both rated A plus by Niche. Melbourne Senior High School, rated A minus, serves the Northwest Palm Bay neighborhood. The city connects to major employment centers via I-95 and US-1, with Melbourne Orlando International Airport 20 minutes away and Orlando International Airport approximately one hour from Palm Bay.

Home Trends in Palm Bay, FL

Housing Trends

Median Sale Price
$361,985
Median Single Family Sale Price
$359,995
Median Townhouse Sale Price
$302,836
Median 2 Bedroom Sale Price
$150,000
Median 1 Bedroom Sale Price
$112,500
Average Price Per Sq Ft
$196
Number of Homes for Sale
295
Last 12 months Home Sales
2,592
Months of Supply
1.40
Median List Price
$369,995
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
4%
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