See Home Value
$1,095,000
● House - Off Market

506 Banyan Way

Melbourne Beach, FL 32951
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,463 Ft²
$6,117
Est. Monthly

About This Property

Experience elevated coastal living where timeless design meets exceptional craftsmanship. Completely renovated from the studs up, every inch of this home has been thoughtfully transformed with premium materials, designer finishes, and impeccable attention to detail. From the custom hardware and statement lighting to the luxury vinyl plank flooring and beautifully appointed tilework, every space reflects quality and sophistication. At the center of the home is a stunning open-concept kitchen designed to impress, featuring upgraded natural quartz countertops, a full-height tile backsplash, premium Z-Line appliances, and a show stopping island. The seamless flow into the main living and dining areas creates an inviting setting for both everyday living and effortless entertaining. The newly created primary suite offers a peaceful retreat with designer walk-in closets with custom shelving and a spa-inspired bath highlighted by a zero-entry shower. A second private primary suite on the opposite side of the home provides ideal accommodations for guests or multigenerational living. Two additional bedrooms are connected by a Jack-and-Jill bath, and the thoughtfully designed split-bedroom layout enhances comfort and privacy for everyone. Outdoor living is just as impressive, featuring a beautifully resurfaced pool with designer tile, an elegant outdoor shower, lush new sod, and vibrant landscaping. The newly constructed pergola and welcoming front porch are accented with rich cedar tongue-and-groove ceilings, while the expanded paver patio and driveway, new fencing, brand new metal and shingle roofs, and spacious .31-acre homesite provide the perfect setting for a relaxing beach vibe.  Beyond its beautiful finishes, this home offers the confidence of virtually all-new infrastructure, including the shingle roof in 2019 and metal roofs in 2026, main HVAC system (2020) and new primary bedroom HVAC system (2026), 50-gallon water heater (2026), impact-rated windows, doors, and sliders, updated water lines and plumbing (no cast iron), modern electrical, and a dedicated indoor laundry room complete with washer and dryer.  Perfectly positioned in one of Melbourne Beach's most desirable neighborhoods, this exceptional property is completely move-in ready. For buyers seeking a turnkey experience, the brand-new designer furnishings are also available for purchase. This is a rare opportunity to own a meticulously reimagined coastal retreat where luxury, comfort, and modern convenience come together.
Unit Size
2,463 Ft²
Days on Market
49 days
Land Size
0.31 acres
Price per sqft
$447
Property Type
House
Property Taxes
$715
HOA Dues
-
Year Built
1962

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Last updated: 2 days ago (Space Coast MLS #1083910)

Price History

Date / Event Date Event Price
Oct 23, 2026 Sold
Sold
Sep 21, 2026 In contract -
In contract
Sep 4, 2026 Relisted $1,100,000
Relisted
Jul 31, 2026 Listed by ITG Realty $1,100,000
Listed by ITG Realty

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1962
  • Effective Year Built: 1992
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 8
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 885
  • Parking Space Count: 4
  • Patio Type: 69
  • Porch Type: 126
  • Pool Type: 8
  • Location Influence Type: 179

    Dimensions

  • Lot Size Square Feet: 13,504
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 1,130
  • Total Building Area: 3,220
  • Gross Building Area: 3,220
  • Building Area: 2,079
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,079
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ISLAND SHORES OF MELBOURNE BEACH
  • Land Acres: 0000000310
  • Standard Land Use Code: 1001
  • County Land Use Code: 0110
  • State Land Use Code: 001
  • Legal Description 1: ISLAND SHORES OF MELBOURNE BEACH LOT 13 BLK 2

Neighborhood

  • School District Name: Brevard County School District
  • Census Tract: 066101

Zoning

  • Zoning: 2RS

Geography

  • Assessors Map Reference: 327
  • Account Number: 2847012
  • Parcel: 28-38-06-75-00002.0-0013.00
  • Block: 2
  • Lot: 13
  • Meridian: SEC 06 TWN 28S RNG 38E
  • Municipality: MELBOURNE BEACH
  • Latitude: 28.0772
  • Longitude: -80.5665

    Address

  • Full Address: 506 Banyan Way
  • Address - House Number: 506
  • Address - Street Name: Banyan
  • Address - Suffix Type: Way
  • State: FL
  • City Name: Melbourne Beach
  • Carrier Code: C001
  • 4-Digit Zip Code: 2102
  • Zip Code: 32951

Valuation

    Tax

  • Total Area: 2,389
  • Tax Year: 2022
  • Tax Amount: $187,871
  • Initial Tax Delinquent Year: 2022
  • Tax Rate Code Area: 34X0

    Appraisal Valuation

  • Standard Deviation: 0.1809
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 76
  • Final Value: 766,376
  • High Value: 905,043
  • Low Value: 627,709

    Market Valuation

  • Market Total Value: $539,810

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $155,650

    Exemptions

  • Homeowner Exemption: Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Melbourne Beach


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Frequently Asked Questions

When was property at 506 Banyan Way built and last sold?
The property at 506 Banyan Way was built in 1962 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 506 Banyan Way is $1,135,011.
What are some comparable homes to 506 Banyan Way?
There are currently no comparable homes to 506 Banyan Way.