East Coast Florida Real Estate

[Paul B.]

Looking to purchase single family for investment/rental income. Prices have become pretty inflated. Would like suggestions on what area offers the best upside potential. Are there any areas growing and a bit under the radar? This would be a long term investment. Hoping to get quality, long term tenants.

So far I have just started looking in Brevard County. Specifically Merritt Island. The shore towns like Melbourne Beach and Indiatlantic are getting out of reach. 

Hopefully we have some Florida investors who can point me in the right direction.

Thanks

[Kerry Baird]

Yes, the beachside prices are inflated. But there are also a number of houses that are outdated and that come on the market at quite reasonable prices.  There is older housing stock directly S of Patrick AFB, and will soon be a new build development where the old base housing area was, in Satellite Beach.  Do watch the flood zones in any of these areas, and ensure you aren’t buying in a very low lying area.  

Move back to the mainland, and you’ll find better pricing in Palm Bay, as a whole.  @Priscilla Z. can chime in, if she’d like, as that area is her specialty.

My initial thought in buying in Brevard from a distance, was that the area is close to the N-S highway, as well as the E-W “beach-line express” connecting to Orlando and Tampa, both highways enable easy transport.  SpaceX has announced an expansion, as well as a number of military industrial companies (Northrop, Harris, and the like), but the medical industry is a huge employer in the county, as well.  I liked Rockledge for its proximity to I-95, when we purchased our first Brevard property.  I also like the area around Wickham Park, where there aren’t HOAs.  My tenants like using the Park facilities.

@Scott Schuetz is a Realtor who is familiar with the beach side communities, and might also have some input.