Urgent! I am looking for someone with knowledge of central Florida, specifically in the Cocoa, Merrit Island, Titusville, Melbourne, Cape Canaveral, Brevard County area (trying to trigger as many keywords as I can...)
I am looking for information about the area of Titusville. While reminiscing with my mother about the past, we decided to look up our old home. Turns out the house we lived in for 12 years was put up for sale yesterday! I am trying to find out what market rents are for the area and hoe the area is holding up. With NASA being shut down (essentially) I am wondering how the area is holding up.
I would love to be able to buy and rent out my childhood home. Would be even more awesome to be my first rental! So any advice and assistance would be awesome!!!
Thank you everyone!
Actually, just this week there was news that a company that will be bringing in 1800 high paying jobs to the space coast soon. SpaceX maybe? It could be a step in the right direction at that point in time. I think the cape area is a ghost town at this moment however.
That is great news about the new jobs! But a bummer about the ghost town part. Was hoping for a good reason to visit my old stomping grounds... Haha
It's Northrop Grumman that's supposed to be creating 1800 jobs, but that's in Melbourne. SpaceX has also created a lot of jobs and there's a company called North American Surveillance Systems which announced recently they are going to be renting space at the Titusville-Cocoa regional airport while building a new facility. Keep in mind, the majority of jobs that were lost at the space center were lost many years ago. I live in Port St John, which you probably know is 5 minutes south of Titusville and I can tell you there's a lot going on in this area. Residential and commercial development is picking up and Titusville specifically is going through a bit or a revitalization. There's a big shopping center that's going in where Miracle City mall was. It's a done deal. It's past the planning stages. There's a developer signed on, tenets have agreed to come in, and they are supposed to demolish the existing property anytime.
I can also tell you based on first hand knowledge there is a lot of residential investment activity in this area. The inventory is very low and prices are increasing.
As for the Cape Canaveral area, it's not a ghost town. In fact, there's currently a $35 million project to widen and deepen the Canaveral Harbor.
The project, scheduled for completion in November, will allow larger cruise ships and cargo vessels into the port.
The port said the cargo expansion will create 5,000 jobs within the next five to seven years, with the potential for 10,000 to 15,000 jobs in the next decade or so.
One last thing. My parents own a rental in Port St John and it's right on Fay Blvd which is the main drag and not the best location to own a rental. They've never had a problem keeping it rented in 15+ years they've been renting it.
@Josh Randall that is great news! Do your parents use a property manager or do they do it themselves?
It has been 15 years since I have been down there really, so I was unaware of the condition of the area. I didn't know the Miracle City Mall shut down. Thank you for the info!
In the past they've always managed it themselves, but now they've moved out of the area now so I sort of co-manage it for them.
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