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For SaleSingle Family Home
$315K
5124 Madras Drive NW, Palm Bay, FL 32907
Northwest Palm Bay neighborhood
Subdivision: Malabar Springs Phase I
3
Bedrooms
2
Bathrooms
1,680
Sq Ft
2026
Year Built
$187 /sqft

About This Property

Description from listing agent

Pre-Construction. To Be Built. Set within Malabar Springs, Palm Bay's newest gated community, this thoughtfully planned neighborhood brings together recreation and relaxation with a resort-style pool, cabana, playground, open green spaces, scenic ponds, and walking areas woven throughout. Just minutes away, Fred Poppe Regional Park invites outdoor activity while the nature trails of Three Forks Conservation Area showcase Florida's natural beauty. Shopping and dining along Malabar Road place everyday conveniences close at hand. Inside this vibrant setting sits the Vista model, a beautifully designed residence that blends style, comfort, and everyday functionality. A paver driveway and entry walk create inviting curb appeal before stepping into a bright open floor plan highlighted by a spacious great room with impressive 9'4'' volume ceilings. Natural light fills the living areas, where extensive ceramic tile flooring adds durability and style, while soft carpeting

Space Coast Context

🚀 Launch Viewing — Fair Views

40 mi from SLC-40

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

Aerospace Commute Guide
L3Harris9.6 mi~21 min
Northrop11.3 mi~25 min
Blue Origin34.8 mi~1h 18m
SpaceX35.4 mi~1h 19m
Lockheed35.5 mi~1h 19m
Boeing/KSC36.2 mi~1h 21m
KSC36.3 mi~1h 21m

Estimates only — verify with Google Maps.

Flood Risk

Zone AE — High Risk

Special Flood Hazard Area (1% annual chance). Flood insurance is federally required for mortgages.

Estimated flood insurance: $2,000 – $6,000+ / yr — varies by coverage, elevation & insurer

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

Offer Intelligence

Based on 13 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
3.1% below market
Median comparable close price: $325,000
Typical Offer Discount
99.3% of list price
At that rate, a competitive offer ≈ $312,729
Price Reductions
No reductions
Listed price has not changed since hitting the market
See & adjust the 13 comparable sales used

Uncheck any home you don't consider comparable — the median updates instantly.

The median is weighted: nearer sales count more than distant ones, and comps marked recent (sold in the last 90 days) count 2×. Comps farther than 3 miles are flagged — a longer distance usually means few nearby sales were available.

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
0.11 acres (4,792 sqft)
Full Baths
2
Total Rooms
8
Garage
2 car (attached)
HOA Fee
$240/mo
Days on Market
109
MLS Area
344 - NW Palm Bay

Community & HOA

HOA

Schools

Elementary

Jupiter

Middle School

Central

High School

Heritage

Financial & Listing Details

Listed
Apr 8, 2026
Parcel #
28-36-32-25-0000c.0-0013.00
$315K

Listing Agent (for property info)

B
Brian Acri
New Home Star Florida LLC
321-234-3715
Call Listing Agent

Estimated Monthly Payment

$2,364/mo
Principal & interest
$1,659
Property taxes
$315
Insurance & HOA
$390

Based on a 6.90% rate, 30-year loan, and $315K price — down payment shown: $62,980.

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# 1074123

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Equal Housing Opportunity

MLS# 1074123 · Listing Broker: New Home Star Florida LLC · 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.