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For SaleSingle Family Home
$370K
1240 Colby Lane, Merritt Island, FL 32952
Merritt Island neighborhood
Subdivision: Harborview Cove
4
Bedrooms
2
Bathrooms
1,562
Sq Ft
1967
Year Built
$237 /sqft

About This Property

Description from listing agent

Come see this beautifully updated home in Merritt Island featuring a spacious backyard overlooking a peaceful non-navigable canal filled with wildlife. Inside, you'll find an updated kitchen with stainless steel appliances, tile flooring throughout, and major system updates including a 2022 roof, 2022 Trane A/C, and 2022 hot water heater. The home is absolutely turn key, with all furniture included if buyer would like. Located in a great neighborhood, this centrally located home is just minutes from shopping, dining, and everyday conveniences. Would make a great Airbnb, vacation home, or forever home!

Space Coast Context

🚀 Launch Viewing — Great Views

16.5 mi from SLC-40

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

Aerospace Commute Guide
SpaceX12 mi~27 min
Blue Origin12.1 mi~27 min
Lockheed12.2 mi~27 min
Boeing/KSC12.7 mi~28 min
KSC13.1 mi~29 min
Northrop14.5 mi~32 min
L3Harris16.4 mi~37 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
  • 6/27/26
    Price change
    $370K -1.3%
    $237/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 4 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
12.2% above median
Median comparable close: $329,900 — premium may reflect unique features not captured in automated comps
Typical Offer Discount
99.6% of list price
At that rate, a competitive offer ≈ $368,431
Price Reductions
1 reduction
Originally listed at $370,000 · Cut $5,000 total
See & adjust the 4 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
0.2 acres (8,712 sqft)
Full Baths
2
Days on Market
62
MLS Area
254 - Newfound Harbor

Schools

Elementary

Tropical

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
May 15, 2026
Parcel #
25-37-06-50-00004.0-0019.00
$370K

Listing Agent (for property info)

B
Brandon Phillips
Blue Marlin Real Estate
321-543-1374
Call Listing Agent

Estimated Monthly Payment

$2,469/mo
Principal & interest
$1,949
Property taxes
$370
Insurance
$150

Based on a 6.90% rate, 30-year loan, and $370K price — down payment shown: $74,000.

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# 1077460

Interested in this property?

Equal Housing Opportunity

MLS# 1077460 · Listing Broker: Blue Marlin 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.