Income Producing Property near Downtown Melbourne. Welcome to 2581 Spence Dr, a rare and versatile multi unit property offering immediate income and long term upside. This unique compound style residence is occupied and currently generating rental income, making it an ideal opportunity for investors seeking a stabilized asset in a growing market. The property features a main home with 2 bedrooms, 1 bathroom, and a garage, complemented by five additional rental units that allow for diversified income streams. These include: Unit A: Studio, Unit B: Studio, Unit C: 1-bedroom unit, Unit D: Efficiency unit with a loft, Unit E: Efficiency. Tenants enjoy shared amenities including a central courtyard that creates a welcoming community feel, as well as a dedicated laundry area for added convenience. Major improvements have already been completed, offering peace of mind to the next owner. The property has a newer roof and fencing.
Pending
Price increase: $20K (6/11)
$565,000
2581 Spence Dr NE, Palm Bay, FL 32905
7beds
2,458sqft
Multi Family
Built in 1958
-- sqft lot
$-- Zestimate®
$230/sqft
$-- HOA
What's special
Newer roof
- 239 days
- 38
- 1
Zillow last checked:
Listing updated:
Listed by:
Caleb Jose Gomez 321-294-8873,
Blue Marlin Real Estate,
Alba Gomez 321-361-7757,
Blue Marlin Real Estate
Source: Space Coast AOR,MLS#: 1065407
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 6
- Full bathrooms: 6
Heating
- Central
Cooling
- Central Air, Wall/Window Unit(s)
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
Interior area
- Total interior livable area: 2,458 sqft
Property
Parking
- Total spaces: 1
- Parking features: Additional Parking, Garage, Off Street
- Garage spaces: 1
Features
- Levels: One
- Stories: 1
- Fencing: Chain Link,Fenced,Wood
Lot
- Size: 9,583 Square Feet
Details
- Additional parcels included: 2825766
- Parcel number: 283711760000f.00002.00
- Zoning description: Multi Family
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Block, Concrete, Frame, Stucco
Condition
- New construction: No
- Year built: 1958
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Sewer Connected, Water Connected
Community & HOA
HOA
- Has HOA: No
Location
- Region: Palm Bay
Financial & listing details
- Price per square foot: $230/sqft
- Tax assessed value: $162,680
- Annual tax amount: $3,229
- Date on market: 6/7/2026
- Listing terms: Cash,Conventional
- Income includes: Rent Only
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/11/2026 | Pending sale | $565,000+3.7%$230/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 6/7/2026 | Listed for sale | $545,000$222/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 5/24/2026 | Pending sale | $545,000$222/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 5/1/2026 | Price change | $545,000-0.9%$222/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 3/23/2026 | Price change | $550,000-4.3%$224/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 3/7/2026 | Price change | $574,990-4.2%$234/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 1/3/2026 | Listed for sale | $599,999+50%$244/sqft |
Source: Space Coast AOR #1065407 Report a problem | ||
| 4/12/2025 | Listing removed | $1,300$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/19/2025 | Price change | $1,300-3.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/4/2025 | Price change | $1,350-3.6%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 1/15/2025 | Price change | $1,400-6.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 12/12/2024 | Listed for rent | $1,500$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 12/11/2024 | Listing removed | $1,500-3.2%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 12/5/2024 | Listed for rent | $1,550$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/19/2024 | Listing removed | $1,550$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/30/2024 | Price change | $1,550-3.1%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/3/2024 | Listed for rent | $1,600$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 12/30/2021 | Sold | $400,000-42.8%$163/sqft |
Source: Space Coast AOR #901734 Report a problem | ||
| 12/1/2021 | Pending sale | $699,000$284/sqft |
Source:  RE/MAX International #901734 Report a problem | ||
| 12/1/2021 | Contingent | $699,000$284/sqft |
Source: Space Coast AOR #901734 Report a problem | ||
| 6/9/2021 | Price change | $699,000-12.5%$284/sqft |
Source: Space Coast AOR #901734 Report a problem | ||
| 4/9/2021 | Listed for sale | $799,000+219.6%$325/sqft |
Source: RE/MAX International #901734 Report a problem | ||
| 3/14/2017 | Listing removed | $250,000$102/sqft |
Source: airRErealty #743782 Report a problem | ||
| 1/13/2016 | Listed for sale | $250,000$102/sqft |
Source: Fontaine Property Group #743782 Report a problem | ||
| 1/1/2015 | Listing removed | $250,000+495.2%$102/sqft |
Source: Fontaine Property Group, Inc. #707531 Report a problem | ||
| 6/27/2012 | Sold | $42,000$17/sqft |
Source: Space Coast AOR #638966 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,230 -3% | $162,680 -2.7% |
| 2024 | $3,329 +6.1% | $167,280 +7.7% |
| 2023 | $3,137 +1.6% | $155,260 +2.1% |
| 2022 | $3,087 +16.9% | $152,090 +19.8% |
| 2021 | $2,642 +11.4% | $126,960 +17.5% |
| 2020 | $2,372 -12.6% | $108,080 -2.5% |
| 2019 | $2,714 | $110,890 +0.8% |
| 2018 | $2,714 +0.9% | $110,000 +4.8% |
| 2017 | $2,689 +0.5% | $105,000 +7.1% |
| 2016 | $2,676 +13.9% | $98,000 +4.3% |
| 2015 | $2,349 +7.9% | $94,000 +9.3% |
| 2014 | $2,177 | $86,000 +11.7% |
| 2013 | -- | $77,000 +0.5% |
| 2012 | $1,783 -5.2% | $76,590 -0.9% |
| 2011 | $1,881 -12.7% | $77,320 -20.1% |
| 2010 | $2,154 -22.5% | $96,740 -34.5% |
| 2008 | $2,780 -12% | $147,800 -15.4% |
| 2007 | $3,160 +81.1% | $174,800 +22.9% |
| 2005 | $1,745 +3.3% | $142,240 +39.8% |
| 2004 | $1,689 -25.4% | $101,740 +4.3% |
| 2003 | $2,265 +8.2% | $97,530 +8.6% |
| 2002 | $2,094 +35.5% | $89,770 +32.1% |
| 2000 | $1,545 | $67,950 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 32905
Nearby schools
Schools provided by the listing agent
- Elementary: Palm Bay Elem
- Middle: Stone
- High: Palm Bay
Source: Space Coast AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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