NOT LISTED FOR SALE

501 E Melbourne Ave Melbourne, FL 32901

Estimated Value: $408,747 - $883,000

3 Beds
3 Baths
2,072 Sq Ft
$262/Sq Ft Est. Value

Last Sold April 29, 2024

Last sale price $450,000 $217 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $3,060/month

56 Days on Market

Highlights

  • The property is located in a historic district
  • Wooded Lot
  • No HOA
  • 0.38 Acre Lot
  • Wood Flooring
  • Screened Porch

About This Home

As of April 2024

Step back through time to a bygone era of opulence and attention to detail in this circa 1925 Melbourne Ave historic home. With a little elbow grease and ambition, this property could be an absolute showplace within walking distance to all things Downtown Melbourne. Versatile floor plan currently configured as a 3 Bedroom with one full bath and two half baths. HVAC was replaced in 2018. Upgraded Electrical Panel. Gorgeous period woodworking, hardwood floors, door knobs, windows and touches throughout. Full stand up attic with dormer windows offers additional possibilities. Sun room, rear screened porch and multiple outdoor patios for enjoying the year round sunshine. Five minute drive to the Intracoastal Waterway and beaches of the Atlantic. If you have always dreamt of owning a charming, story-telling historic home, this is the one. Light in breakfast nook does not convey. Some furnishings negotiable.

Last Agent to Sell the Property

Stacey Buchanan

Melbourne Realty, Inc. License #589128 Listed on: 01/25/2024

Last Buyer's Agent

Melissa Parlette

YHSGR-Pioneer License #3477476

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $413

Year Built

  • Built in 1925

Lot Details

  • 0.38 Acre Lot
  • North Facing Home
  • Vinyl Fence
  • Wooded Lot
  • Many Trees

Parking

  • Off-Street Parking

Home Design

  • Fixer Upper
  • Frame Construction
  • Shingle Roof
  • Asphalt

Interior Spaces

  • 2,072 Sq Ft Home
  • 2-Story Property
  • Furniture Can Be Negotiated
  • Wood Burning Fireplace
  • Screened Porch
  • Wood Flooring

Kitchen

  • Breakfast Area or Nook
  • Gas Range
  • Microwave

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Walk-In Closet
  • Bathtub and Shower Combination in Primary Bathroom

Laundry

  • Laundry in unit
  • Washer Hookup

Schools

  • University Park Elementary School
  • Hoover Middle School
  • Melbourne High School

Additional Features

  • Shed
  • The property is located in a historic district
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association
  • Fees Unrec Subd Subdivision

Listing and Financial Details

  • Assessor Parcel Number 28-37-03-75-00000.0-0002.06

Home Details

Home Type

Single Family

Est. Annual Taxes

$413

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential
  • Year Built: 1925
  • Reso Property Sub Type: Single Family Residence
  • ResoLaundryFeatures: In Unit, Washer Hookup
  • ResoLotFeatures: Historic Area, Many Trees, Wooded
  • Road Frontage Type: City Street
  • Road Surface Type: Asphalt
  • Subdivision Name: Fees Unrec Subd
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Two
  • New Construction: No
  • Reso Other Structures: Shed(s)
  • Reso Property Condition: Fixer
  • Location Tax and Legal Parcel Number2: 28-37-03-75-00000.0-0002.06
  • Location Tax and Legal Elementary School: University Park
  • Location Tax and Legal Middle School2: Hoover
  • Location Tax and Legal High School: Melbourne
  • Location Tax and Legal Tax Annual Amount: 413.0
  • Location Tax and Legal Tax Year2: 2023
  • General Property Information Living Area2: 2072.0
  • General Property Information Building Area Total3: 2488.0
  • General Property Information Lot Size Acres: 0.38
  • General Property Information Lot Size Square Feet2: 16552.8
  • General Property Information New Construction YN: No
  • General Property Information Waterfront YN: No
  • General Property Information Senior Community YN: No
  • General Property Information Direction Faces: North
  • Appliances Microwave: Yes
  • Appliances Refrigerators: Yes
  • Cooling Central Air: Yes
  • Interior Features Primary Bathroom - Tub with Shower: Yes
  • General Property Information Community Fee(s) YN: No
  • Flooring Wood: Yes
  • Laundry Features Washer Hookup: Yes
  • Road Surface Type Asphalt: Yes
  • Roof:Shingle: Yes
  • Sewer:Public Sewer: Yes
  • Utilities Electricity Connected: Yes
  • Levels Two: Yes
  • Water Source Public: Yes
  • General Property Information Carport YN2: No
  • Other Structures Shed(s): Yes
  • Interior Features Breakfast Nook: Yes
  • Lot Features Historic Area: Yes
  • Fencing Vinyl2: Yes
  • Property Condition Fixer: Yes
  • Utilities Sewer Connected: Yes
  • General Property Information Land Lease YN2: No
  • General Property Information CDD Fee YN: No
  • Utilities Water Connected: Yes
  • General Property Information Stories2: 2
  • Marketing Remarks:Marketing Remarks: be an absolute showplace within walking distance to all things Downtown Melbourne. Versatile floor plan currently configured as a 3 Bedroom with one full bath and two half baths. HVAC was replaced in 2018. Upgraded Electrical Panel. Gorgeous period woodworking, hardwood floors, door knobs, windows and touches throughout. Full stand up attic with dormer windows offers additional possibilities. Sun room, rear screened porch and multiple outdoor patios for enjoying the year round sunshine. Five minute drive to the Intracoastal Waterway and beaches of the Atlantic. If you have always dreamt of owning a charming, story-telling historic home, this is the one. Light in breakfast nook does not convey. Some furnishings negotiable. Contact Stacey Buchanan, 2nd Generation Broker-Owner, Melbourne Realty, Inc. at 321-508-5224 for more info.
  • Special Features: VirtualTour
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Interior Amenities: Breakfast Nook, Pantry, Primary Bathroom - Tub with Shower, Walk-In Closet(s)
  • Flooring: Wood
  • Appliances: Gas Range, Microwave, Refrigerator
  • Full Bathrooms: 1
  • Half Bathrooms: 2
  • Total Bedrooms: 3
  • Fireplace Features: Wood Burning
  • Stories: 2
  • ResoLivingAreaSource: Appraiser
  • General Property Information Bathrooms Half: 2
  • Appliances:Gas Range: Yes
  • Interior Features:Pantry: Yes
  • Interior Features:Walk-In Closet(s): Yes
  • Fireplace Features:Wood Burning: Yes
  • Laundry Features:In Unit: Yes

Exterior Features

  • Pool Features: None
  • Roof: Shingle
  • Fencing: Vinyl, Other
  • Acres: 0.38
  • Waterfront: No
  • Construction Type: Frame
  • Direction Faces: North
  • Patio And Porch Features: Rear Porch, Screened, Side Porch
  • Patio And Porch Features:Screened: Yes
  • Construction Materials:Frame: Yes
  • Lot Features:Wooded: Yes
  • Patio and Porch Features:Side Porch: Yes
  • Lot Features:Many Trees: Yes
  • Patio And Porch Features:Rear Porch: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Off Street
  • General Property Information:Garage YN: No
  • Parking Features:Off Street: Yes

Utilities

  • Cooling: Central Air
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Heating: Central
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Central: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Middle Or Junior School: Hoover

Lot Info

  • Current Use: Residential, Single Family
  • Land Lease: No
  • Lot Size Sq Ft: 16552.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 28-37-03-75-00000.0-0002.06
  • ResoLotSizeUnits: Acres

Rental Info

  • Furnished: Negotiable

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 413.0

MLS Schools

  • Elementary School: University Park
  • High School: Melbourne

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 25, 2024
Closed on
Apr 18, 2024
Sold by
Marlow Dianne C and Marlow Cathy
Bought by
Studly Robert and Studly Ann
Seller's Agent
Stacey Buchanan
Melbourne Realty, Inc.
Buyer's Agent
Melissa Parlette
YHSGR-Pioneer
List Price
$519,900
Sold Price
$450,000
Premium/Discount to List
-$69,900
-13.44%
Views
129
Current Estimated Value
$529,063

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$79,063
Avg. Annual Appreciation
12.14%
Original Mortgage
$441,849
Outstanding Balance
$435,235
Interest Rate
6.87%
Mortgage Type
FHA
Estimated Equity
$108,452

Purchase Details

Closed on
Jun 13, 1995
Sold by
Clerk Circuit Court
Bought by
Evans Carol
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Studly Robert $450,000 State Title Partners
Studly Robert $450,000 State Title Partners
Evans Carol -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Studly Robert $441,849
Closed Studly Robert $441,849
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/29/2024 04/29/24 Sold $450,000 +5.9% $217 / Sq Ft
03/22/2024 03/22/24 Pending -- -- --
03/15/2024 03/15/24 Price Changed $425,000 -14.8% $205 / Sq Ft
02/21/2024 02/21/24 Price Changed $499,000 -4.0% $241 / Sq Ft
01/25/2024 01/25/24 For Sale $519,900 -- $251 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,454 $278,570 -- --
2024 $421 $193,770 -- --
2023 $421 $46,570 $0 $0
2022 $386 $45,220 $0 $0
2021 $374 $43,910 $0 $0
2020 $365 $43,310 $0 $0
2019 $361 $42,340 $0 $0
2018 $354 $41,560 $0 $0
2017 $346 $40,710 $0 $0
2016 $347 $39,880 $30,290 $9,590
2015 $348 $39,610 $30,290 $9,320
2014 $339 $39,300 $24,560 $14,740
Source: Public Records

Agents Affiliated with this Home

  • Stacey Buchanan

    Seller's Agent in 2024

    Stacey Buchanan

    Melbourne Realty, Inc.

    (321) 508-5224

    35 in this area

    100 Total Sales

    Stacey Buchanan
    Section Image
  • Melissa Parlette

    Buyer's Agent in 2024

    Melissa Parlette

    YHSGR-Pioneer

    (352) 342-0418

    3 in this area

    15 Total Sales

    Melissa Parlette
    Section Image
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Map

Source: Space Coast MLS (Space Coast Association of REALTORS®)

MLS Number: 1002999

Space Coast MLS (Space Coast Association of REALTORS®)

APN: 28-37-03-75-00000.0-0002.06

Florida Brevard County Melbourne 32901

501 E Melbourne Ave, Melbourne, FL

Not Listed for Sale

Detached

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