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For SaleSingle Family Home
$490K
1072 Spanish Wells Drive, Melbourne, FL 32940
Suntree neighborhood
Subdivision: Spanish Wells at Suntree
3
Bedrooms
2
Bathrooms
2,048
Sq Ft
1988
Year Built
$239 /sqft

About This Property

Description from listing agent

Proudly owned and meticulously cared for by the same owner for 35 years, this former model home sits on a spacious .3-acre lot with serene water views. The open floor plan offers a bright and inviting layout perfect for both everyday living and entertaining. The built-in natural gas generator provides peace or mind for any outages. Updated kitchen features granite countertops, a gas stove, and ample wood cabinetry, making it a standout space for any home chef. Spacious primary suite with updated custom double sink vanity with granite countertops, and wheelchair accessible shower with dual shower heads. A professionally enclosed Florida room with natural gas fireplace adds valuable living space and allows you to enjoy the peaceful lake setting year-round. This home offers 3 bedrooms, 2 baths, and a 2-car garage. Located in a top-rated school zone and just minutes from shopping, dining, and major roadways, this golf cart friendly neighborhood combines comfort, convenience, and lifestyle.

Space Coast Context

🚀 Launch Viewing — Good Views

25.3 mi from SLC-40

25.3 miles from SLC-40 — visible on clear days, especially at night.

Aerospace Commute Guide
Northrop7.2 mi~16 min
L3Harris8.6 mi~19 min
Blue Origin20.5 mi~46 min
SpaceX20.8 mi~46 min
Lockheed20.9 mi~47 min
Boeing/KSC21.5 mi~48 min
KSC21.7 mi~48 min

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
  • 6/10/26
    Price change
    $490K -4.9%
    $239/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

Based on 10 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
12.6% above median
Median comparable close: $435,000 — premium may reflect unique features not captured in automated comps
Typical Offer Discount
98.9% of list price
At that rate, a competitive offer ≈ $484,399
Price Reductions
1 reduction
Originally listed at $489,900 · Cut $25,000 total
See & adjust the 10 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
0.3 acres (13,068 sqft)
Full Baths
2
Garage
2 car
Fireplaces
1
HOA Fee
$257.25/mo
Waterfront
Yes
Days on Market
24
MLS Area
218 - Suntree S of Wickham

Community & HOA

HOA

Schools

Elementary

Suntree

Middle School

DeLaura

High School

Viera

Financial & Listing Details

Listed
Sep 21, 2026
Parcel #
26-36-23-25-00001.0-0046.00
$490K

Listing Agent (for property info)

G
Gregory Ellingson
Ellingson Properties
321-750-7050
Call Listing Agent

Estimated Monthly Payment

$3,478/mo
Principal & interest
$2,581
Property taxes
$490
Insurance & HOA
$407

Based on a 6.90% rate, 30-year loan, and $490K price — down payment shown: $97,980.

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# 1075182

What's Nearby

grocery
Publix
1.3 mi away
government
The UPS Store
1.3 mi away
restaurants
Subway
1.3 mi away
grocery
ALDI
1.4 mi away
restaurants
Domino's
1.4 mi away
vets
Harbor City Animal Hospital
1.4 mi away
home improvement
Stone Tile Gallery
1.4 mi away
restaurants
Papa John's
1.4 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1075182 · Listing Broker: Ellingson Properties · 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.