508 Magnolia Ave Melbourne Beach, FL 32951
Estimated payment $8,180/month
Highlights
- Under Construction
- In Ground Pool
- Contemporary Architecture
- Gemini Elementary School Rated A-
- Deck
- Outdoor Kitchen
About This Home
A rare and unique opportunity awaits! This stunning, custom home is currently under construction, giving you the chance to personalize your dream residence. Built to exceed Miami-Dade standards, this home offers enhanced durability and potentially better insurance rates than typical homes in the area. At over 3,400 square feet, this 5 bedroom, 4 bath, 3 car garage home is a two-story masterpiece. With the home at the drywall stage, you can still select all of your final finishes—think flooring, paint color, cabinetry and granite making it truly yours. The interior has 20-foot ceilings in the main living area and 10-foot ceilings throughout the rest. The gourmet kitchen is a chef's delight, with a massive walk-in pantry and a 4x8-foot center island featuring a prep sink. The main level features a private retreat in the sumptuous master suite, offering a 5 piece ensuite bath, two large walk-in closets. Upstairs, are 2 bedrooms, a bath and a bonus game room. Call for a private showing.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $2,261
Year Built
- Built in 2025 | Under Construction
Lot Details
- 0.3 Acre Lot
- South Facing Home
- Privacy Fence
Parking
- 3 Car Attached Garage
- Garage Door Opener
Home Design
- Home is estimated to be completed on 12/31/25
- Contemporary Architecture
- Metal Roof
- Concrete Siding
- Asphalt
Interior Spaces
- 3,450 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Electric Fireplace
- High Impact Windows
- Laundry in unit
- Property Views
Kitchen
- Eat-In Kitchen
- Breakfast Bar
- Walk-In Pantry
- Electric Range
- Dishwasher
- Kitchen Island
- Disposal
Bedrooms and Bathrooms
- 5 Bedrooms
- Split Bedroom Floorplan
- Dual Closets
- Walk-In Closet
- Separate Shower in Primary Bathroom
Outdoor Features
- In Ground Pool
- Balcony
- Deck
- Covered Patio or Porch
- Outdoor Kitchen
Schools
- Gemini Elementary School
- Hoover Middle School
- Melbourne High School
Utilities
- Central Heating and Cooling System
- 200+ Amp Service
- Cable TV Available
Community Details
- No Home Owners Association
- Island Shores Of Melbourne Beach Subdivision
Listing and Financial Details
- Assessor Parcel Number 28-38-06-75-00003.0-0012.00
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2024 | $2,261 | $344,620 | -- | -- |
| 2023 | $2,261 | $186,200 | $0 | $0 |
| 2022 | $3,750 | $276,470 | $0 | $0 |
| 2021 | $3,868 | $268,420 | $0 | $0 |
| 2020 | $3,833 | $264,720 | $0 | $0 |
| 2019 | $3,820 | $258,770 | $0 | $0 |
| 2018 | $3,794 | $253,950 | $0 | $0 |
| 2017 | $3,744 | $248,730 | $0 | $0 |
| 2016 | $3,832 | $243,620 | $150,000 | $93,620 |
| 2015 | $3,892 | $241,930 | $135,000 | $106,930 |
| 2014 | $3,973 | $202,700 | $125,000 | $77,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/09/2025 09/09/25 | For Sale | $1,500,000 | +439.6% | $435 / Sq Ft |
| 09/12/2014 09/12/14 | Sold | $278,000 | -8.9% | $148 / Sq Ft |
| 07/03/2013 07/03/13 | Pending | -- | -- | -- |
| 04/17/2013 04/17/13 | For Sale | $305,000 | -- | $162 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | $100 | Tier 1 Title Llc | |
| Quit Claim Deed | $100 | Tier 1 Title Llc | |
| Warranty Deed | $100 | None Listed On Document | |
| Warranty Deed | $100 | None Listed On Document | |
| Warranty Deed | $278,000 | First International Title In | |
| Warranty Deed | $137,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $888,650 | Construction | |
| Closed | $888,650 | Construction | |
| Previous Owner | $60,924 | FHA | |
| Previous Owner | $10,502 | FHA | |
| Previous Owner | $265,109 | FHA | |
| Previous Owner | $53,129 | New Conventional | |
| Previous Owner | $100,000 | Credit Line Revolving | |
| Previous Owner | $106,625 | New Conventional | |
| Previous Owner | $40,000 | Credit Line Revolving | |
| Previous Owner | $110,000 | No Value Available |
Source: Space Coast MLS (Space Coast Association of REALTORS®)
MLS Number: 1056685
APN: 28-38-06-75-00003.0-0012.00
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