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For SaleCondominium
$490K
540 S Banana River Drive #105, Merritt Island, FL 32952
Merritt Island neighborhood
Subdivision: Marina Village Condo Ph I
3
Bedrooms
3
Bathrooms
1,743
Sq Ft
2005
Year Built
$281 /sqft

About This Property

Description from listing agent

Boat slips available to rent by owners in this community. Direct waterfront community on the Banana River with miles of stunning views, breathtaking sunrises, and abundant wildlife. Enjoy watching rocket launches and cruise ships from the comfort of home. This spacious 3BR/3BA unit overlooks the river and community pool/spa. Private bath in master as well as bedroom 3. Open Great Room with triple sliders brings in natural light and river breezes. 10 foot ceilings and 8 foot doors. Primary bedroom features private balcony access with water views. Updates include new appliances and a tankless water heater, and AC is only 3 years old. Private marina with boat slips available (unit does not include slip). Conveniently located near the beach, Kennedy Space Center, Orlando International Airport, shopping, dining, and local attractions. No condo approval or right of first refusal. Two pets allowed (35 lb max). 3-month minimum rental.

Space Coast Context

🚀 Launch Viewing — Great Views

15.7 mi from SLC-40

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

Aerospace Commute Guide
SpaceX11.2 mi~25 min
Blue Origin11.4 mi~25 min
Lockheed11.5 mi~26 min
Boeing/KSC11.9 mi~27 min
KSC12.3 mi~27 min
Northrop15.4 mi~34 min
L3Harris17.2 mi~38 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.

Offer Intelligence

Price history and market context for this listing.

Price Reductions
No reductions
Listed price has not changed since hitting the market
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
0.02 acres (871 sqft)
Full Baths
3
Total Rooms
14
Garage
2 car
HOA Fee
$912/mo
Waterfront
Banana River
Days on Market
101
MLS Area
254 - Newfound Harbor

Community & HOA

HOA

Schools

Elementary

Tropical

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Apr 15, 2026
Parcel #
24-37-31-75-00000.0-0003.06
$490K

Listing Agent (for property info)

D
Darlene E Quivey
EXP Realty, LLC
561-676-3697
Call Listing Agent

Estimated Monthly Payment

$4,134/mo
Principal & interest
$2,582
Property taxes
$490
Insurance & HOA
$1,062

Based on a 6.90% rate, 30-year loan, and $490K price — down payment shown: $98,000.

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# 1074681

Interested in this property?

Equal Housing Opportunity

MLS# 1074681 · Listing Broker: EXP Realty, LLC · 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.