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For SaleSingle Family Home
$275K
514 Palm Avenue, Merritt Island, FL 32952
Merritt Island neighborhood
Subdivision: Merritt Ridge Sheet 3
4
Bedrooms
2
Bathrooms
1,156
Sq Ft
1959
Year Built
$238 /sqft

About This Property

Description from listing agent

Fantastic opportunity to own a remodeled concrete block home in South Merritt Island. Open floor plan and tile floors throughout. Enter though screen enclosed front porch. Large living room opens to remodeled kitchen with wood cabinetry, granite counters and stainless appliances Refrigerator 2024. Room for a café table or butcherblock island. Home can function as a 4 bed/2 bath or 3 bed with extra-large family room (used to have a pool table!). Both bathrooms remodeled. Indoor laundry, washer and dryer included. 2024 HWH. Sliders exit to screen enclosed porch overlooking fully fenced yard. Storage shed on concrete slab. Double gate on west side with large side yard for boat storage. BRAND NEW Interior Electrical panel and Exterior 150 amp Service Panel. AC 2020 on an FPL lease and maintenance program. Excellent Roof 2017. 1 car carport. Peaceful neighborhood close to shops, restaurants, A rated Tropical Elementary, and Jefferson Middle Schools.

Space Coast Context

🚀 Launch Viewing — Great Views

16.4 mi from SLC-40

16.4 miles from SLC-40 — clear launch views from your yard or roof on most days.

Aerospace Commute Guide
Boeing/KSC12.1 mi~27 min
KSC12.2 mi~27 min
SpaceX12.2 mi~27 min
Lockheed12.6 mi~28 min
Blue Origin12.9 mi~29 min
Northrop15.8 mi~35 min
L3Harris17.6 mi~39 min

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
  • 7/1/26
    Price change
    $275K -1.8%
    $238/sqft
  • 6/27/26
    Price change
    $280K -1.8%
    $242/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 1 comparable sale in this area in the last 180 days.(limited data — interpret with caution)

Price vs. Comparable Sales
5.2% below market
Median comparable close price: $290,000
Typical Offer Discount
98.3% of list price
At that rate, a competitive offer ≈ $270,339
Price Reductions
2 reductions
Originally listed at $279,900 · Cut $10,000 total
See & adjust the 1 comparable sale 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
0.17 acres (7,405 sqft)
Full Baths
2
Days on Market
125
MLS Area
253 - S Merritt Island

Schools

Elementary

Tropical

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Mar 14, 2026
Parcel #
24-36-35-78-0000f.0-0019.00
$275K

Listing Agent (for property info)

B
Becky Schryer
Pastermack Real Estate
321-591-8070
Call Listing Agent

Estimated Monthly Payment

$1,874/mo
Principal & interest
$1,449
Property taxes
$275
Insurance
$150

Based on a 6.90% rate, 30-year loan, and $275K price — down payment shown: $55,000.

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# 1071906

Interested in this property?

Equal Housing Opportunity

MLS# 1071906 · Listing Broker: Pastermack Real Estate · 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.