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For SaleCondominium
$160K
240 Spring Drive #5, Merritt Island, FL 32953
Merritt Island neighborhood
Subdivision: Summer Place Condominium
2
Bedrooms
2
Bathrooms
1,037
Sq Ft
1988
Year Built
$154 /sqft

About This Property

Description from listing agent

Centrally located spacious condo park like setting. View of the pond. First floor unit. Breakfast bar separate dining area. Solid Surface countertops. Community pool and playground. Easy access to 1-95 and the Beach Line. Ten minutes from Cape Canaveral. A Must See.

Space Coast Context

🚀 Launch Viewing — Great Views

13.7 mi from SLC-40

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

Aerospace Commute Guide
KSC8.7 mi~19 min
Boeing/KSC8.9 mi~20 min
SpaceX10.1 mi~23 min
Lockheed10.6 mi~24 min
Blue Origin11.5 mi~26 min
Northrop19.5 mi~43 min
L3Harris21.3 mi~47 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
  • 6/9/26
    Price change
    $160K -8.6%
    $154/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

Price history and market context for this listing.

Price Reductions
1 reduction
Originally listed at $159,900 · Cut $15,000 total
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
0.08 acres (3,485 sqft)
Full Baths
2
HOA Fee
$265/mo
Days on Market
47
MLS Area
251 - Central Merritt Island

Community & HOA

HOA

  • Name: Summer Place
  • Fee: $265 / monthly

Schools

Elementary

Carroll

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Jun 1, 2026
Parcel #
24-36-14-00-00283.K-0000.00
$160K

Listing Agent (for property info)

N
Nicole D Grammer
aReal Estate Service Team
321-863-0876
Call Listing Agent

Estimated Monthly Payment

$1,417/mo
Principal & interest
$842
Property taxes
$160
Insurance & HOA
$415

Based on a 6.90% rate, 30-year loan, and $160K price — down payment shown: $31,980.

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# 1068297

Interested in this property?

Equal Housing Opportunity

MLS# 1068297 · Listing Broker: aReal Estate Service Team · 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.