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599 Port Malabar Boulevard NE
About This Property
From the curb, you'll notice its classic ranch-style design and lush, established landscaping complete with Florida palms and flowering shrubs that make it feel like home before you even step inside. The home spans over 2,000 square feet, thoughtfully laid out to offer multiple living and dining areas, a bonus flex room, and three generously sized bedrooms, including a private primary suite.
Natural light pours in through oversized windows, giving the interior a bright and airy feel throughout the day. Whether you're hosting family, working from home, or simply relaxing, there's plenty of space for everything life brings your way. The bonus flex space adds even more options ideal for hobbies, a creative workspace, or a cozy den.
Step outside and you'll find the real treasure an expansive backyard that feels peaceful, shaded, and private. Mature magnolia trees provide natural beauty and a canopy of shade, while fruit-bearing mango trees add a tropical charm. With enough room for a pool, fire pit, garden, or outdoor kitchen, the yard is ready for whatever vision you bring.
One of the home's standout features is its freedom from HOA restrictions. That means RVs, boats, workshops, and personalized additions are all welcome here your property, your way.
Located in the heart of NE Palm Bay, you're just minutes from downtown Melbourne, major highways, excellent schools, shopping, dining, and of course the Space Coast's stunning beaches. This home sits in a thriving community that blends established charm with future growth.
Key Features:
3 Bedrooms | 2 Bathrooms
Over 2,000 sq ft of living space
Multiple living & dining areas + bonus flex space
.39-acre lot with magnolia & mango trees
No HOA - total lifestyle flexibility
Minutes from beaches, shopping, dining & downtown Melbourne
Ideal for both end-users and investors
Whether you're looking to move right in and personalize as you go or take on a stylish refresh to maximize value, 599 Port Malabar Blvd NE offers a rare blend of function, space, and long-term opportunity.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 25, 2025 | Sold | ||
| Sold | |||
| Jul 26, 2025 | In contract | - | |
| In contract | |||
| Jun 3, 2025 | Price Decreased |
$319,000
↓ $30K
(8.6%) | |
| Price Decreased | |||
| May 11, 2025 | Relisted | $349,000 | |
| Relisted | |||
| Apr 21, 2025 | Listed by BHHS Florida Realty | $349,000 | |
| Listed by BHHS Florida Realty | |||
Property Highlights
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About Port Malabar
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017