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For SaleCondominium
$395K
500 Sail Lane #203, Merritt Island, FL 32953
Merritt Island neighborhood
Subdivision: Island Pointe Condo Ph 1C
3
Bedrooms
2
Bathrooms
2,048
Sq Ft
2005
Year Built
$193 /sqft

About This Property

Description from listing agent

Drastic $100k price reduction!!!! Direct river w/ amazing sunset views from the most sought after building in Island Pointe! Open floor plan boasts 3 spacious bedrooms & 2 full baths! Wood cabinets & quartz counters accent the kitchen that offers a movable island + a nook, pantry & breakfast bar! The great rm layout captures gorgeous river views! The primary also has balcony access & provides a luxury bath w/ a jetted tub, separate shower, double sinks & two walk-in closets! The 2 guest rms also have walk-in closets & 1 has private bath access! The large balcony is perfect for your evening unwind & incl hurricane shutters! The assoc & buildings are in great condition! This complex has so many amenities incl a large clubhouse w/ a full kitchen, exercise rm, sauna, 2 pools, hot tubs, tennis courts, pickle ball court & basketball courts! Enjoy river activities too or just watch the dolphins & manatees from the boardwalk! Close to shopping & easy trip to the beach! Furnished too!

Space Coast Context

🚀 Launch Viewing — Great Views

16.2 mi from SLC-40

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

Aerospace Commute Guide
KSC11.6 mi~26 min
Boeing/KSC11.7 mi~26 min
SpaceX12.2 mi~27 min
Lockheed12.6 mi~28 min
Blue Origin13.1 mi~29 min
Northrop16.7 mi~37 min
L3Harris18.5 mi~41 min

Estimates only — verify with Google Maps.

Flood Risk

Flood zone data not yet available for this listing. Check FEMA Flood Map

Source: FEMA National Flood Hazard Layer. Insurance estimates are ranges only — get a quote for accurate pricing.

Price History

Date
Event
Price
  • 8/26/25
    Listed
    $395K
    $193/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 3 comparable sales in this area in the last 180 days.

Price vs. Comparable Sales
23.4% above median
Median comparable close: $320,000 — premium may reflect unique features not captured in automated comps
Typical Offer Discount
91.0% of list price
At that rate, a competitive offer ≈ $359,481
Price Reductions
No reductions
Listed price has not changed since hitting the market
See & adjust the 3 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
0.03 acres (1,307 sqft)
Full Baths
2
Total Rooms
7
Garage
1 car
HOA Fee
$1235/mo
Waterfront
Indian River
Days on Market
316
MLS Area
251 - Central Merritt Island

Community & HOA

HOA

Schools

Elementary

Mila

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Aug 26, 2025
Parcel #
24-36-35-34-00000.0-0001.41
$395K

Listing Agent (for property info)

M
Michelle Daignault-Ives
Daignault Realty Inc
321-591-8493
Call Listing Agent

Estimated Monthly Payment

$3,861/mo
Principal & interest
$2,081
Property taxes
$395
Insurance & HOA
$1,385

Based on a 6.90% rate, 30-year loan, and $395K price — down payment shown: $79,000.

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# 1055524

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Equal Housing Opportunity

MLS# 1055524 · Listing Broker: Daignault Realty Inc · 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.