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For SaleCondominium
$460K
540 S Banana River Drive #103, Merritt Island, FL 32952
Merritt Island neighborhood
Subdivision: Marina Village Condo Ph I
3
Bedrooms
3
Bathrooms
1,743
Sq Ft
2005
Year Built
$264 /sqft

About This Property

Description from listing agent

Just listed a direct Banana River front condo. Bring your boat, boat lift included in this sale. This luxury condo is in a gated community with 3 bedrooms, 3 baths. Features 2 car parking places under the building including a private storage closet. Large marina dock along side the community pool. This unit has crown molding, maple kitchen cabinets tile floors and large covered balcony along with Corian tops in great shape, washer and dryer utility closet, 2 master suites, with walk-in closets and so much more. A must see.

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 Origin11.5 mi~26 min
Lockheed11.5 mi~26 min
Boeing/KSC11.9 mi~27 min
KSC12.3 mi~27 min
Northrop15.3 mi~34 min
L3Harris17.2 mi~38 min

Estimates only — verify with Google Maps.

Flood Risk

Zone X (500-yr) — Moderate Risk

Moderate flood risk (0.2% annual chance). Flood insurance is optional but advisable.

Estimated flood insurance: $800 – $2,500 / 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
Stories
4
Garage
2 car
HOA Fee
$934/mo
Waterfront
Banana River
Days on Market
142
MLS Area
254 - Newfound Harbor

Community & HOA

HOA

Schools

Elementary

Tropical

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Apr 11, 2026
Parcel #
24-37-31-75-00000.0-0003.04
$460K

Listing Agent (for property info)

T
Teresa DeMark
All Real Estate, Inc.
321-799-4141
Call Listing Agent

Estimated Monthly Payment

$3,967/mo
Principal & interest
$2,423
Property taxes
$460
Insurance & HOA
$1,084

Based on a 6.90% rate, 30-year loan, and $460K price — down payment shown: $91,980.

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# 1074404

What's Nearby

restaurants
Bagel World and Deli
0.8 mi away
grocery
Walmart Supercenter
0.9 mi away
shopping
Banana River Market
0.9 mi away
pharmacies
Walgreens
1.4 mi away
restaurants
Steak 'n Shake
1.5 mi away
restaurants
0 Club
1.6 mi away
coffee shops
0 Club
1.6 mi away
shopping
Merritt Square Mall
1.6 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1074404 · Listing Broker: All Real Estate, 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.