2901 Fordham Rd NE, Palm Bay, FL 32905

Your Affordable Home in Palm Bay: Classic Charm with Potential!

Asking Price: $155,000

Here’s an incredible opportunity to own a 3-bedroom, 2-bathroom single-family home at 2901 Fordham Rd NE, Palm Bay, FL 32905. Built in 1963, this 1,530 sqft residence offers a fantastic entry point into homeownership with an estimated refinance payment of just $1,417/mo. This property, situated on a spacious 0.37-acre lot, provides ample outdoor space and incredible potential for customization.

Key Features:

• Exceptional Affordability: At an asking price of $155,000, this home is significantly below the current median home sold price in Palm Bay ($329,996 in May 2025) and offers an incredibly accessible entry into the Florida real estate market. The estimated refinance payment further highlights its affordability.
• Generous Space & Lot: With 1,530 sqft of interior space and a substantial 0.37-acre lot, this property offers plenty of room for comfortable living, outdoor activities, gardening, or even future expansion.
• Established Construction: Built in 1963, this home provides a solid foundation from its era. Public tax history shows consistent, albeit low, property taxes, with 2024 taxes at $382 on an assessment of $42,140. It’s important to note that a change in ownership can reset the assessed value, potentially increasing future property taxes.
• Palm Bay Market Dynamics: The 32905 zip code is currently a Buyer’s Housing Market, meaning prices tend to be lower and homes may stay on the market longer. The median home sold price in 32905 was $269,933 in March 2025, an 8% increase from last year. Specifically for 3-bedroom homes, the median sold price in 32905 saw a slight increase of +0.9% year-over-year. A significant 90% of homes in this zip code sold below asking price last month, indicating strong negotiation opportunities for buyers.
• Palm Bay Lifestyle: Palm Bay is located on Florida’s east-central coast and offers a variety of amenities:
  • Outdoor Recreation: Enjoy 29 city parks, an aquatic center, a 200-acre regional park, two public/private golf courses, Turkey Creek Sanctuary, and nearby beaches.
  • Education: Home to Eastern Florida State College’s Palm Bay Campus, which offers diverse academic programs and hands-on training. The city also has 18 public and private K-12 schools.
  • Connectivity: Midway between Jacksonville and Miami, with easy access to I-95, Melbourne and Orlando International Airports, and Port Canaveral.
• Cost of Living: Palm Bay generally offers a lower cost of living compared to the national and Florida averages. Housing costs are notably more affordable.
• Crime Rate: While the crime rate in Palm Bay is higher than some other cities in Brevard County, it is less than 60% of cities in Florida. Palm Bay is considered safer than 46.9% of cities nationwide. The most common crimes are thefts, burglaries, and assault/battery.

Important Considerations:

• Condition: Given its 1963 construction and attractive price point, this property likely requires updates and renovations to modernize it and maximize its potential. Buyers should anticipate this and conduct thorough inspections.
• Negotiation: The market data suggests that buyers have significant leverage in this area, with a high percentage of homes selling below asking price.

This property at 2901 Fordham Rd NE is an exceptional opportunity for a buyer seeking an affordable home with a large lot and the chance to add significant value through renovation, all within a growing and amenity-rich community in Palm Bay.

Priced at $155,000 – don’t miss out on this fantastic potential! Schedule your private showing today.