NOT LISTED FOR SALE

505 Banyan Way Melbourne Beach, FL 32951

Estimated Value: $552,000 - $606,000

4 Beds
3 Baths
1,640 Sq Ft
$352/Sq Ft Est. Value

Last Sold July 12, 2023

Last sale price $565,000 $345 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $3,657/month

322 Days on Market

Highlights

  • Property has ocean access
  • Open Floorplan
  • No HOA
  • Gemini Elementary School Rated A-
  • Sun or Florida Room
  • Tennis Courts

About This Home

As of July 2023

Spectacular 4/3 ranch style home nestled in the heart of Melbourne Beach. This desirable property features open living spaces, large 2 car garage, gigantic fenced in backyard with old growth trees, perfect to create your own tropical landscaped oasis. Within walking distance to the local beach access. Imagine hoping into your golf cart and being minutes away from local amenities. A+ public school district Two year old roof and A/C. Tiled and Terrazzo flooring throughout the home. Ready for your own personal touches to create your paradise lifestyle on this Barrier Island.

Last Agent to Sell the Property

Victoria Stacy

One Sotheby's International License #3509237 Listed on: 05/10/2023

One Sotheby's International

Last Buyer's Agent

Christopher Colagiacomo

Creegan Group License #3237947

Creegan Group

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $5,464

Year Built

  • Built in 1957

Lot Details

  • 0.3 Acre Lot
  • East Facing Home
  • Wood Fence

Parking

  • 2 Car Attached Garage

Home Design

  • Shingle Roof
  • Concrete Siding
  • Stucco

Interior Spaces

  • 1,640 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Living Room
  • Sun or Florida Room

Kitchen

  • Electric Range
  • Dishwasher
  • Disposal

Flooring

  • Tile
  • Terrazzo

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Split Bedroom Floorplan
  • Dual Closets
  • 3 Full Bathrooms
  • Bathtub and Shower Combination in Primary Bathroom

Laundry

  • Laundry in Garage
  • Washer and Gas Dryer Hookup

Outdoor Features

  • Property has ocean access

Schools

  • Gemini Elementary School
  • Hoover Middle School
  • Melbourne High School

Utilities

  • Central Heating and Cooling System
  • Well
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 28-38-06-75-00003.0-0004.00

Community Details

Overview

  • No Home Owners Association
  • Island Shores Of Melbourne Beach Association

Recreation

  • Tennis Courts
  • Community Playground
  • Park

Home Details

Home Type

Single Family

Est. Annual Taxes

$5,464

Year Built

Built in 1957

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential
  • Year Built: 1957
  • Reso Property Sub Type: Single Family Residence
  • ResoLaundryFeatures: Electric Dryer Hookup, Gas Dryer Hookup, In Garage, Washer Hookup
  • ResoLotFeatures: Other
  • Reso Association Amenities: Park, Playground, Tennis Court(s)
  • ResoSpecialListingConditions: Standard
  • Subdivision Name: None
  • Carport Y N: No
  • Garage Yn: Yes
  • Unit Levels: One
  • New Construction: No
  • Location Tax and Legal Parcel Number2: 28-38-06-75-00003.0-0004.00
  • Location Tax and Legal Elementary School: Gemini
  • Location Tax and Legal Middle School2: Hoover
  • Location Tax and Legal High School: Melbourne
  • Location Tax and Legal Tax Annual Amount: 5464.01
  • Location Tax and Legal Tax Year2: 2021
  • General Property Information Living Area2: 1640.0
  • General Property Information Building Area Total3: 2476.0
  • General Property Information Lot Size Acres: 0.3
  • General Property Information Lot Size Square Feet2: 13068.0
  • 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: East
  • Appliances Refrigerators: Yes
  • Cooling Central Air: Yes
  • Fencing Fenced2: Yes
  • Fencing Wood2: Yes
  • Flooring Tile: Yes
  • Interior Features Primary Bathroom - Tub with Shower: Yes
  • Laundry Features Electric Dryer Hookup: Yes
  • Laundry Features Gas Dryer Hookup: Yes
  • Laundry Features Washer Hookup: Yes
  • Levels One: Yes
  • Pets Allowed Yes: Yes
  • Roof:Shingle: Yes
  • Sewer:Public Sewer: Yes
  • Utilities Cable Available: Yes
  • Utilities Electricity Connected: Yes
  • Water Source Well: Yes
  • Flooring Terrazzo: Yes
  • Water Source Public: Yes
  • General Property Information Carport YN2: No
  • Utilities Water Available: Yes
  • Room Types Living Room: Yes
  • Room Types Florida Room: Yes
  • General Property Information:Pool Private YN: No
  • Special Features: VirtualTour
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: His and Hers Closets, Open Floorplan, Pantry, Primary Bathroom - Tub with Shower, Primary Downstairs, Split Bedrooms
  • Flooring: Terrazzo, Tile
  • Appliances: Dishwasher, Disposal, Electric Range, Electric Water Heater, Refrigerator
  • Full Bathrooms: 3
  • Total Bedrooms: 4
  • Appliances Dishwasher: Yes
  • Appliances:Electric Water Heater: Yes
  • Interior Features:Primary Downstairs: Yes
  • Appliances:Electric Range: Yes
  • Interior Features:Open Floorplan: Yes
  • Interior Features:Pantry: Yes
  • Interior Features:Split Bedrooms: Yes
  • Interior Features:His and Hers Closets: Yes

Exterior Features

  • Pool Features: None
  • Roof: Shingle
  • Fencing: Fenced, Wood
  • Acres: 0.3
  • Pool Private: No
  • Waterfront: No
  • Construction Type: Concrete, Stucco
  • Direction Faces: East
  • Construction Materials:Concrete4: Yes
  • Construction Materials:Stucco: Yes
  • Waterfront Features:Ocean Access: Yes
  • Lot Features:Other21: Yes

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 2.0
  • Parking Features: Attached
  • General Property Information:Garage YN: Yes
  • General Property Information:Garage Spaces: 2.0
  • Laundry Features:In Garage: Yes
  • Parking Features:Attached: Yes

Utilities

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

Condo/Co-op/Association

  • Senior Community: No
  • Association Name: ISLAND SHORES OF MELBOURNE BEACH
  • Association: No

Association/Amenities

  • General Property Information:Association YN: No
  • General Property Information:Association Name: ISLAND SHORES OF MELBOURNE BEACH
  • Association Amenities:Tennis Court(s)2: Yes
  • Association Amenities:Park: Yes
  • Association Amenities:Playground: Yes

Schools

  • Middle Or Junior School: Hoover

Lot Info

  • Lot Size Sq Ft: 13068.0
  • ResoLotSizeUnits: Acres
  • Additional Parcels Description: 2847019
  • Parcel #: 28-38-06-75-00003.0-0004.00
  • ResoLotSizeUnits: Acres

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 5464.01

MLS Schools

  • Elementary School: Gemini
  • High School: Melbourne

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2023
Closed on
Jul 12, 2023
Sold by
Apple Lu Ann K and Apple Jeffrey R
Bought by
Dayala Marcus
Seller's Agent
Victoria Stacy
One Sotheby's International
Buyer's Agent
Christopher Colagiacomo
Creegan Group
List Price
$599,999
Sold Price
$565,000
Premium/Discount to List
-$34,999
-5.83%
Views
421
Current Estimated Value
$577,740

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$12,740
Avg. Annual Appreciation
0.99%
Source: Public Records

Range of Values:

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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
Dayala Marcus $565,000 Mangrove Title & Legal
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/12/2023 07/12/23 Sold $565,000 -5.8% $345 / Sq Ft
06/23/2023 06/23/23 Pending -- -- --
05/10/2023 05/10/23 For Sale $599,999 0.0% $366 / Sq Ft
04/28/2023 04/28/23 Pending -- -- --
04/17/2023 04/17/23 Price Changed $599,999 0.0% $366 / Sq Ft
04/17/2023 04/17/23 For Sale $599,999 -4.0% $366 / Sq Ft
04/05/2023 04/05/23 Pending -- -- --
02/09/2023 02/09/23 Price Changed $625,000 -0.8% $381 / Sq Ft
12/14/2022 12/14/22 Price Changed $630,000 -7.4% $384 / Sq Ft
10/13/2022 10/13/22 Price Changed $680,000 -8.0% $415 / Sq Ft
09/26/2022 09/26/22 Price Changed $739,500 -2.7% $451 / Sq Ft
08/04/2022 08/04/22 For Sale $760,000 -- $463 / 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 $7,529 $501,480 -- --
2024 $6,814 $492,040 -- --
2023 $6,814 $510,220 $0 $0
2022 $6,296 $478,420 $0 $0
2021 $5,464 $322,580 $240,000 $82,580
2020 $5,285 $309,710 $240,000 $69,710
2019 $5,066 $289,690 $200,000 $89,690
2018 $4,867 $278,750 $200,000 $78,750
2017 $4,632 $277,070 $200,000 $77,070
2016 $4,314 $235,650 $150,000 $85,650
2015 $4,008 $203,940 $135,000 $68,940
2014 $3,721 $185,400 $125,000 $60,400
Source: Public Records

Agents Affiliated with this Home

  • Victoria Stacy

    Seller's Agent in 2023

    Victoria Stacy

    One Sotheby's International

    (321) 750-5233

    5 in this area

    22 Total Sales

    Victoria Stacy
    Section Image
  • Christopher Colagiacomo

    Buyer's Agent in 2023

    Christopher Colagiacomo

    Creegan Group

    (407) 402-0263

    1 in this area

    111 Total Sales

    Christopher Colagiacomo
    Section Image
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Map

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

MLS Number: 940962

Space Coast MLS (Space Coast Association of REALTORS®)

APN: 28-38-06-75-00003.0-0004.00

Florida Brevard County Melbourne Beach 32951

505 Banyan Way, Melbourne Beach, FL

This home is located at 505 Banyan Way, Melbourne Beach, FL 32951 since 10 May 2023 and is currently estimated at $577,740, approximately $352 per square foot. This property was built in 1957. 505 Banyan Way is a home located in Brevard County with nearby schools including Gemini Elementary School, Herbert C. Hoover Middle School, and Melbourne Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Space Coast MLS (Space Coast Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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