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For SaleSingle Family Home
$500K
581 Drexel Avenue NE, Palm Bay, FL 32907
Southeast Palm Bay neighborhood
Subdivision: Port Malabar Unit 6
4
Bedrooms
4
Bathrooms
2,858
Sq Ft
2001
Year Built
$175 /sqft

About This Property

Description from listing agent

A rare custom-built retreat surrounded by the natural beauty of Turkey Creek Sanctuary! This original-owner home offers nearly 2,900 sq ft on a .46-acre double lot with no HOA. The main level has 3 bedrooms, 2 full baths, a half bath, formal dining room, family room with gas fireplace, and an open kitchen with breakfast bar and bay-window nook. The primary suite includes porch access, a walk-in closet, dual sinks and a walk-in tile shower. Upstairs, a nearly 1,000 sq ft bonus room with another half bath offers flexibility as a 4th bedroom, guest suite, office, gym, theater or game room. Enjoy preserve views from the screened porch and expansive deck. Highlights include a 3-car garage, RV parking, tile flooring, fresh paint, accordion shutters, 2019 metal roof and gutters, 2020 HVAC, 2023 water heater and exterior paint, plus a new septic system being installed July 2026. An adjacent .34-acre lot is available, creating up to .80 acre.

Space Coast Context

🚀 Launch Viewing — Fair Views

38.1 mi from SLC-40

38.1 miles from SLC-40 — visible as a bright streak in good conditions.

Aerospace Commute Guide
L3Harris6.4 mi~14 min
Northrop8.1 mi~18 min
Blue Origin32 mi~1h 11m
SpaceX33.2 mi~1h 14m
Lockheed33.2 mi~1h 14m
Boeing/KSC35.2 mi~1h 18m
KSC35.8 mi~1h 20m

Estimates only — verify with Google Maps.

Flood Risk

Zone X — Minimal Risk

Outside the Special Flood Hazard Area. Flood insurance is optional but recommended.

Estimated flood insurance: $500 – $1,200 / yr — varies by coverage, elevation & insurer

Source: FEMA National Flood Hazard Layer. Insurance estimates are ranges only — get a quote for accurate pricing.

Price History

Date
Event
Price
  • 7/1/26
    Price change
    $500K -9.1%
    $175/sqft

Tracked by MaxxCity from the date each listing first appeared in our system — earlier history isn't available from the MLS feed.

Offer Intelligence

Price history and market context for this listing.

Price Reductions
1 reduction
Originally listed at $499,900 · Cut $50,000 total
How we match comps

Comps are pulled directly from the Space Coast MLS — sold sales only, closed within the last 180 days. We apply hyper-local matching criteria in this order:

  • Same property type, always (single family, condo, townhouse, etc.)
  • Single-story homes compared only to single-story (and multi to multi)
  • Exact bedroom count
  • Bathrooms within ±0.5
  • Garage spaces within ±1
  • Pool status must match
  • Waterfront status must match
  • HOA must match (HOA community vs. no HOA)
  • Price within ±5–20% of list price (tightest in early tiers)
  • Square footage within ±10–25% (tighter in early tiers)
  • Year built always within ±5–20 years (never dropped)

We search in tiers, expanding the radius only as needed — starting in the same subdivision within 1 mile, then 2 miles, then the same neighborhood within 3 miles, and the same zip code within 5 miles as a last resort. For luxury homes ($5M+), where nearby comps are scarce, we widen the search to 5–20 miles. Year built is always required so comps are from the same era of construction. The median is weighted toward nearer sales, and sales within the last 90 days count 2× to reflect current market conditions.

Median estimate is based on similar active listings and homes that have sold within the last 180 days in this area, as reported through Brevard MLS. This is not an appraisal or a Comparative Market Analysis (CMA). Before making an offer, work with a licensed real estate agent to obtain a CMA, or hire a certified real estate appraiser for an independent valuation.

Additional Details

Lot Size
0.46 acres (20,038 sqft)
Full Baths
2
Half Baths
2
Total Rooms
10
Garage
3 car (attached)
Days on Market
266
MLS Area
340 - NE Palm Bay

Schools

Elementary

Port Malabar

Middle School

Stone

High School

Palm Bay

Financial & Listing Details

Listed
Dec 22, 2025
Parcel #
28-37-35-Ft-00115.0-0003.00
$500K

Listing Agent (for property info)

V
Vera L Koon
Waterman Real Estate, Inc.
321-302-9588
Call Listing Agent

Estimated Monthly Payment

$3,284/mo
Principal & interest
$2,634
Property taxes
$500
Insurance
$150

Based on a 6.90% rate, 30-year loan, and $500K price — down payment shown: $99,980.

This is a quick estimate only — it does not include items like mortgage insurance, closing costs, or rate-lock terms. For an accurate payment based on your credit and finances, get pre-qualified with a certified bank or licensed mortgage brokerage.

MLS# 1064828

What's Nearby

pharmacies
Acquaviva's Pharmacy
0.5 mi away
schools
Port Malabar Elementary
1.2 mi away
government
Malabar Post Office
1.3 mi away
parks
Playground at Malabar Park
1.4 mi away
schools
Saint Joseph Catholic School
1.4 mi away
grocery
Winn-Dixie
1.4 mi away
government
VA Outpatient Clinic
1.4 mi away
shopping
Fil-Am Oriental Store
1.4 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1064828 · Listing Broker: Waterman Real Estate, Inc. · IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Listing information provided by Space Coast Association of REALTORS® and the Space Coast MLS. © 2026 Space Coast Association of REALTORS®. All rights reserved. · MaxxCity Realty LLC · Licensed in Florida.