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For SaleSingle Family Home
$2.7M
1295 S Banana River Drive, Merritt Island, FL 32952
Merritt Island neighborhood
Subdivision: Banana River Drive Subd
5
Bedrooms
5
Bathrooms
4,860
Sq Ft
2026
Year Built
$556 /sqft

About This Property

Description from listing agent

Experience the pinnacle of coastal luxury at Marina Bay Estates, Merritt Island's exclusive marina-front enclave. Perfectly positioned on a premier homesite, this exceptional new construction model residence offers an unparalleled blend of sophisticated design, resort-style amenities, and breathtaking views of the marina, Banana River, and iconic Space Coast rocket launches. Designed for elevated waterview living, this five-bedroom, five-bath estate with a private den showcases soaring 12-foot ceilings, expansive impact-rated windows and doors, and seamless indoor-outdoor entertaining spaces. Three private balconies capture stunning panoramic vistas, while the resort-inspired pool and outdoor kitchen create the ultimate setting for entertaining or unwinding in style. Inside, every detail reflects refined craftsmanship and luxury living, including a temperature-controlled wine cellar, dual primary suites designed for comfort and privacy, and spacious open-concept living areas

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/KSC12.8 mi~29 min
KSC13.2 mi~29 min
Northrop14.5 mi~32 min
L3Harris16.4 mi~37 min

Estimates only — verify with Google Maps.

Flood Risk

Zone AE — High Risk

Special Flood Hazard Area (1% annual chance). Flood insurance is federally required for mortgages.

Estimated flood insurance: $2,000 – $6,000+ / 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
0.35 acres (15,246 sqft)
Full Baths
5
Garage
3 car
HOA Fee
$300/mo
Pool
Yes
Days on Market
83
MLS Area
254 - Newfound Harbor

Community & HOA

HOA

Schools

Elementary

Tropical

Middle School

Jefferson

High School

Merritt Island

Financial & Listing Details

Listed
Jun 5, 2026
Parcel #
25-37-06-Cx-00000.0-0015.09
$2.7M

Listing Agent (for property info)

V
Vera L Koon
Waterman Real Estate, Inc.
321-302-9588
Call Listing Agent

Estimated Monthly Payment

$17,376/mo
Principal & interest
$14,226
Property taxes
$2,700
Insurance & HOA
$450

Based on a 6.90% rate, 30-year loan, and $2.7M price — down payment shown: $540,000.

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# 1079164

What's Nearby

schools
Thomas Jefferson Junior High School
1.6 mi away
restaurants
Bagel World and Deli
1.7 mi away
fire stations
Merritt Island Airport Fire / Rescue Station 43
1.7 mi away
grocery
Walmart Supercenter
1.8 mi away
shopping
Banana River Market
1.8 mi away
pharmacies
Walgreens
2.0 mi away
restaurants
0 Club
2.1 mi away
coffee shops
0 Club
2.1 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1079164 · Listing Broker: Waterman 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.