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For SaleSingle Family Home
$580K
5160 Palomino Drive, Melbourne, FL 32934
Downtown Melbourne neighborhood
Subdivision: Lakewood Estates Sec 1
3
Bedrooms
2
Bathrooms
1,987
Sq Ft
1975
Year Built
$292 /sqft

About This Property

Description from listing agent

Beautifully updated and move-in ready, this modern farmhouse sits at the end of a quiet cul-de-sac on spacious grounds just a mile from Lake Washington. Bring your chickens, horses, or simply enjoy the wide-open spaces and Florida lifestyle. An oak-lined driveway welcomes you to a huge front courtyard. Inside, the spacious great room and dining area feature live-edge beams and modern farmhouse accents, with popcorn ceilings removed and knockdown texture added in 2024. The updated kitchen and guest bathroom complement a completely renovated 2024 primary suite, including a stunning new bathroom and custom closet. Impact windows provide added peace of mind. Enjoy a 2015 metal roof, 2021 dual Trane A/C systems, and 2018 pool enclosure with covered patio. Recent improvements include a 2025 paver driveway and front patio, fresh interior and exterior paint, 2026 water heater, upgraded pool pump and filtration system, and Wi-Fi garage door opener with camera system. Shed/Office adds flex space

Space Coast Context

🚀 Launch Viewing — Good Views

29.8 mi from SLC-40

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

Aerospace Commute Guide
Northrop5.5 mi~12 min
L3Harris5.9 mi~13 min
Blue Origin24.8 mi~55 min
SpaceX25.2 mi~56 min
Lockheed25.3 mi~56 min
Boeing/KSC25.9 mi~58 min
KSC26 mi~58 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
  • 9/4/26
    Listed
    $580K
    $292/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 3 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
4.5% above median
Median comparable close: $555,000 — premium may reflect unique features not captured in automated comps
Typical Offer Discount
98.8% of list price
At that rate, a competitive offer ≈ $573,146
Price Reductions
No reductions
Listed price has not changed since hitting the market
See & adjust the 3 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
1 acres (43,560 sqft)
Full Baths
2
Garage
2 car
Pool
Yes
Days on Market
1
MLS Area
321 - Lake Washington/S of Post

Schools

Elementary

Sabal

Middle School

Johnson

High School

Eau Gallie

Financial & Listing Details

Listed
Sep 4, 2026
Parcel #
27-36-10-51-00002.0-0013.00
$580K

Listing Agent (for property info)

K
Kelsey Nelson
RE/MAX Elite
321-987-0470
Call Listing Agent

Estimated Monthly Payment

$3,785/mo
Principal & interest
$3,055
Property taxes
$580
Insurance
$150

Based on a 6.90% rate, 30-year loan, and $580K price — down payment shown: $115,980.

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# 1086564

What's Nearby

fire stations
West Eau Gallie Fire / Rescue Station 81
0.7 mi away
restaurants
Dunkin'
2.0 mi away
shopping
Marathon
2.0 mi away
shopping
7-Eleven
2.0 mi away
restaurants
Taste Works
2.1 mi away
shopping
RaceTrac
2.1 mi away
home improvement
Tools & Dollar Up Store
2.3 mi away
restaurants
Funnel Cake Stop
2.3 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1086564 · Listing Broker: RE/MAX Elite · 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.