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For SaleSingle Family Home
$400K
5115 Madras Drive NW, Palm Bay, FL 32907
Northwest Palm Bay neighborhood
Subdivision: Malabar Springs Phase I
4
Bedrooms
3
Bathrooms
2,802
Sq Ft
2026
Year Built
$143 /sqft

About This Property

Description from listing agent

Under Construction. Welcome to The Carlisle, where space, style, water views, and modern functionality meet in the heart of Malabar Springs, Palm Bay's premier gated community. From the moment you arrive, the curb appeal draws you in with a stunning stone-accented exterior, elegant window shutters, and a professional paver driveway leading to a spacious 2-car garage with extra storage. Step through the covered front porch and into a thoughtfully designed interior featuring sleek ceramic tile flooring, upgraded door hardware, and brushed nickel accents throughout. The first floor is built for both productivity and relaxation, centered around a versatile den with double French glass doors that serves as the perfect home office. A convenient half bath with a pedestal sink is tucked away nearby, while the heart of the home features a spacious Great Room brightened by additional LED flush mount lighting. This open-concept space flows seamlessly into a chef-inspired kitchen

Space Coast Context

🚀 Launch Viewing — Fair Views

40 mi from SLC-40

40 miles from SLC-40 — visible as a bright streak in good conditions.

Aerospace Commute Guide
L3Harris9.6 mi~21 min
Northrop11.3 mi~25 min
Blue Origin34.8 mi~1h 18m
SpaceX35.4 mi~1h 19m
Lockheed35.5 mi~1h 19m
KSC36.2 mi~1h 21m
Boeing/KSC36.2 mi~1h 21m

Estimates only — verify with Google Maps.

Flood Risk

Zone AE — High Risk

Special Flood Hazard Area (1% annual chance). Flood insurance is federally required for mortgages.

Estimated flood insurance: $2,000 – $6,000+ / 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
  • 7/3/26
    Price change
    $400K -2.4%
    $143/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 6 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
3.5% below market
Median comparable close price: $414,390
Typical Offer Discount
98.8% of list price
At that rate, a competitive offer ≈ $395,075
Price Reductions
1 reduction
Originally listed at $399,900 · Cut $10,000 total
See & adjust the 6 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
0.14 acres (6,098 sqft)
Full Baths
2
Half Baths
1
Total Rooms
5
Garage
2 car (attached)
HOA Fee
$240/mo
Days on Market
130
MLS Area
344 - NW Palm Bay

Community & HOA

HOA

Schools

Elementary

Jupiter

Middle School

Central

High School

Heritage

Financial & Listing Details

Listed
Mar 12, 2026
Parcel #
28-36-32-25-0000i.0-0011.00
$400K

Listing Agent (for property info)

B
Brian Acri
New Home Star Florida LLC
321-234-3715
Call Listing Agent

Estimated Monthly Payment

$2,897/mo
Principal & interest
$2,107
Property taxes
$400
Insurance & HOA
$390

Based on a 6.90% rate, 30-year loan, and $400K price — down payment shown: $79,980.

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# 1071738

Interested in this property?

Equal Housing Opportunity

MLS# 1071738 · Listing Broker: New Home Star Florida LLC · 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.