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For SaleSingle Family Home
$350K
1261 Rainbow Road SE, Palm Bay, FL 32909
Palm Bay - Bayside Lakes neighborhood
Subdivision: None
4
Bedrooms
2
Bathrooms
1,830
Sq Ft
2021
Year Built
$191 /sqft

About This Property

Description from listing agent

VA Assumable Loan with an incredible 2.7% interest rate for qualified buyers! This is your opportunity to own a beautifully maintained, only a few years young 4-bedroom, 2-bath home while enjoying substantial monthly savings. The low assumable interest rate paired with owned solar panels means lower mortgage payments and reduced electric bills, making this home an incredible long-term investment. Inside, you'll find an open-concept floor plan, spacious living areas, and a split-bedroom layout. The oversized primary suite features a large walk-in closet that won't disappoint. Step outside to a fully fenced backyard backing to a peaceful preserve with no rear neighbors, offering privacy and beautiful natural views. Conveniently located near shopping, dining, schools, parks, and major roadways. This move-in-ready home truly is the gift that keeps on giving. Schedule your private showing today before this rare opportunity is gone!

Space Coast Context

🚀 Launch Viewing — Fair Views

42 mi from SLC-40

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

Aerospace Commute Guide
L3Harris9.8 mi~22 min
Northrop11.8 mi~26 min
Blue Origin36 mi~1h 20m
Lockheed37.1 mi~1h 23m
SpaceX37.2 mi~1h 23m
Boeing/KSC38.9 mi~1h 27m
KSC39.3 mi~1h 28m

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
  • 7/24/26
    Listed
    $350K
    $191/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 31 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
At market value
Median comparable close price: $349,500
Typical Offer Discount
98.8% of list price
At that rate, a competitive offer ≈ $345,737
Price Reductions
No reductions
Listed price has not changed since hitting the market
See & adjust the 31 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
0.24 acres (10,454 sqft)
Full Baths
2
Total Rooms
1
Garage
2 car
Days on Market
34
MLS Area
343 - SE Palm Bay

Schools

Elementary

Columbia

Middle School

Southwest

High School

Bayside

Financial & Listing Details

Listed
Jul 24, 2026
Parcel #
29-37-16-Gp-00756.0-0002.00
$350K

Listing Agent (for property info)

S
Sabrena Anne Killmon
Real Broker, LLC
407-799-0629
Call Listing Agent

Estimated Monthly Payment

$2,343/mo
Principal & interest
$1,844
Property taxes
$350
Insurance
$150

Based on a 6.90% rate, 30-year loan, and $350K price — down payment shown: $69,980.

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# 1083299

What's Nearby

schools
Odyssey Prep Academy
0.6 mi away
shopping
Chevron
0.6 mi away
schools
Odyssey Junior/Senior High
0.6 mi away
fire stations
Palm Bay Fire Department Station 4
0.6 mi away
schools
Columbia Elementary School
0.7 mi away
schools
Royal Palm Charter School
1.2 mi away
schools
Odyssey Charter School
1.3 mi away
restaurants
McDonald's
1.4 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1083299 · Listing Broker: Real Broker, 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.