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For SaleCondominium
$210K
4880 Lake Waterford Way W #3-220, Melbourne, FL 32901
South Melbourne neighborhood
Subdivision: The Gables II at Lake In The Woods Ph III
3
Bedrooms
2
Bathrooms
1,155
Sq Ft
1987
Year Built
$182 /sqft

About This Property

Description from listing agent

Rare Ground-Floor Gem with Lake Views-Move in Ready. Don't miss this rare opportunity to own a first-floor, 3 bedroom, 2-bath condo. Step inside to find fresh paint throughout, stylish updated vinyl flooring, and a gorgeous granite kitchen with newer LG-Appliances. Updated plumbing in both bath and kitchen. Enjoy your morning coffee or unwind in the evening on the large screened-in-porch overlooking the lake. Perfect spot to relax and take in the view. For added convenience, this unity includes its own storage and in unit laundry, tucked neatly into the screened patio. HOA covers it all: exterior maintenance, roof replacement, high-speed internet and cable through Spectrum, plus access to community pool and clubhouse available for private events and celebration. Location does not get better than this close to beach, I-95 and plenty of shopping, dinning and major employment centers.

Space Coast Context

🚀 Launch Viewing — Fair Views

36.2 mi from SLC-40

36.2 miles from SLC-40 — visible as a bright streak in good conditions.

Aerospace Commute Guide
L3Harris4 mi~9 min
Northrop6 mi~13 min
Blue Origin30.3 mi~1h 8m
SpaceX31.4 mi~1h 10m
Lockheed31.4 mi~1h 10m
Boeing/KSC33.1 mi~1h 14m
KSC33.6 mi~1h 15m

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
  • 8/17/26
    Listed
    $210K
    $182/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
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
0.15 acres (6,534 sqft)
Full Baths
2
HOA Fee
$400/mo
Days on Market
9
MLS Area
330 - Melbourne - Central

Community & HOA

HOA

  • Name: The Gables II at Lake in Woods Phase III
  • Fee: $400 / monthly

Schools

Elementary

Rivieria

Middle School

Stone

High School

Palm Bay

Financial & Listing Details

Listed
Aug 17, 2026
Parcel #
28-37-21-00-00040.R-0000.00
$210K

Listing Agent (for property info)

P
Phyllis Collazo
Legacy Real Estate Partners
321-806-6969
Call Listing Agent

Estimated Monthly Payment

$1,866/mo
Principal & interest
$1,106
Property taxes
$210
Insurance & HOA
$550

Based on a 6.90% rate, 30-year loan, and $210K price — down payment shown: $42,000.

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# 1085195

What's Nearby

restaurants
Taco Bell
0.4 mi away
restaurants
Jersey Mike's Subs
0.5 mi away
restaurants
7 Brew Coffee
0.6 mi away
coffee shops
7 Brew Coffee
0.6 mi away
home improvement
ProBuild
0.6 mi away
shopping
BP Shop
0.6 mi away
restaurants
Marco's Pizza
0.7 mi away
fire stations
Station No. 78
0.7 mi away

Interested in this property?

Equal Housing Opportunity

MLS# 1085195 · Listing Broker: Legacy Real Estate Partners · 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.