NOT LISTED FOR SALE

550 S Banana River Dr Unit 201 Merritt Island, FL 32952

Estimated Value: $479,867 - $567,000

3 Beds
3 Baths
2,238 Sq Ft
$780/mo HOA Fee

Last Sold March 31, 2023

Last sale price $515,000 $230 Per Sq Ft

Current estimated payment $3,939/month

16 Days on Market

Highlights

  • Boat Dock
  • River View
  • Community Pool
  • Fitness Center
  • Sauna
  • Balcony

About This Home

As of March 2023

PROFESSIONALLY DECORATED CORNER UNIT WITH DIRECT RIVER FRONT VIEWS!! MARINA VILLAGE IS A GATED CONDOMINIUM WITH A SECURED LOBBY. THIS SPACIOUS 2,200' , 3 BEDROOMS AND 3 BATHROOMS DBL SINKS IN MST,10' CEILINGS THROUGH OUT WITH CROWN AND 6'' BASE BOARDS, BEAUTIFUL GRANITE COUNTERTOPS IN KITCHEN AND MST BATHROOM, AND NEWER STAINLESS STEEL APPLIANCES. STUNNING OVERSIZE PORCELAIN TILE THROUGH OUT. CARPET IN GUEST ROOM, COMMUNITY POOL, DRY SAUNA, EXERCISE ROOM, HOT TUB AND MORE. 2 UNDER BLDG DEEDED PARKING AND A PRIVATE STORAGE UNIT IN THE 1ST FLOOR GARAGE

Last Agent to Sell the Property

Janis Shealy

Better Homes & Gardens RE Star License #3349724 Listed on: 02/22/2023

Better Homes & Gardens RE Star

Last Buyer's Agent

Tiffany Schanck

Southern Tropics R.E. LLC License #3372460

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,655

Year Built

  • Built in 2007

Lot Details

  • River Front
  • West Facing Home

HOA Fees

  • $780 Monthly HOA Fees

Parking

  • Subterranean Parking
  • Garage Door Opener
  • Guest Parking

Home Design

  • Concrete Roof
  • Concrete Siding
  • Block Exterior

Interior Spaces

  • 2,238 Sq Ft Home
  • 4-Story Property
  • Ceiling Fan
  • Tile Flooring
  • River Views
  • Security Gate

Kitchen

  • Electric Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Split Bedroom Floorplan
  • Walk-In Closet
  • 3 Full Bathrooms
  • Separate Shower in Primary Bathroom

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Balcony
  • Wrap Around Porch

Schools

  • Tropical Elementary School
  • Jefferson Middle School
  • Merritt Island High School

Utilities

  • Central Heating and Cooling System
  • Tankless Water Heater
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 24-37-31-75-00000.0-0002.24

Community Details

Overview

  • Association fees include cable TV, insurance, internet, pest control, sewer, trash, water
  • Marina Village Condo Ph VI Association
  • Marina Village Condo Ph VI Subdivision
  • Maintained Community

Amenities

  • Sauna
  • Secure Lobby
  • Community Storage Space
  • Elevator

Recreation

  • Boat Dock
  • Fitness Center
  • Community Pool
  • Community Spa

Pet Policy

  • Pet Size Limit
  • 2 Pets Allowed
  • Cats Allowed

Security

  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,655

Year Built

Built in 2007

Lot Details

0

HOA Fees

$780 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Year Built: 2007
  • Reso Property Sub Type: Condominium
  • Reso View: River, Water
  • Water Body Name: Banana River
  • ResoSecurityFeatures: Fire Sprinkler System, Security Gate, Secured Lobby
  • Reso Association Amenities: Boat Dock, Elevator(s), Fitness Center, Maintenance Grounds, Maintenance Structure, Management - Full Time, Management - Off Site, Sauna, Spa/Hot Tub, Storage
  • Reso Association Fee Includes: Cable TV, Insurance, Internet, Pest Control, Sewer, Trash, Water
  • ResoSpecialListingConditions: Standard
  • Subdivision Name: Marina Village Condo Ph VI
  • Carport Y N: No
  • Garage Yn: Yes
  • Unit Levels: Three Or More
  • New Construction: No
  • Location Tax and Legal Parcel Number2: 24-37-31-75-00000.0-0002.24
  • Location Tax and Legal Elementary School: Tropical
  • Location Tax and Legal Middle School2: Jefferson
  • Location Tax and Legal High School: Merritt Island
  • Location Tax and Legal Tax Annual Amount: 2654.64
  • Location Tax and Legal Tax Year2: 2022
  • General Property Information Living Area2: 2238.0
  • General Property Information Lot Size Acres: 0.04
  • General Property Information Lot Size Square Feet2: 1742.0
  • General Property Information New Construction YN: No
  • General Property Information Waterfront YN: Yes
  • General Property Information Senior Community YN: No
  • General Property Information Direction Faces: West
  • Appliances Microwave: Yes
  • Appliances Refrigerators: Yes
  • Cooling Central Air: Yes
  • Flooring Tile: Yes
  • Interior Features Primary Bathroom - Tub with Shower: Yes
  • Appliances Dryer: Yes
  • Washers: Yes
  • Association Amenities Maintenance Grounds2: Yes
  • Security Features Security Gate: Yes
  • Sewer:Public Sewer: Yes
  • Utilities Cable Available: Yes
  • Water Source Public: Yes
  • Interior Features Primary Bathroom -Tub with Separate Shower: Yes
  • Pets Allowed Total Number Of Pets: 2
  • Pets Allowed Size Limit: Yes
  • General Property Information Carport YN2: No
  • Pets Allowed Cats OK: Yes
  • Pets Allowed Number Limit: Yes
  • Utilities Water Available: Yes
  • View Water3: Yes
  • General Property Information Stories Total: 4
  • Levels Three Or More: Yes
  • Roof Concrete2: Yes
  • Security Features Fire Sprinkler System: Yes
  • Security Features Secured Lobby: Yes
  • Special Features: VirtualTour
  • Property Sub Type: Condos
  • Stories: 4

Interior Features

  • Interior Amenities: Ceiling Fan(s), Elevator, Pantry, Primary Bathroom - Tub with Shower, Primary Bathroom -Tub with Separate Shower, Split Bedrooms, Walk-In Closet(s)
  • Flooring: Tile
  • Appliances: Dishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Tankless Water Heater, Washer
  • Full Bathrooms: 3
  • Total Bedrooms: 3
  • Stories: 4
  • ResoLivingAreaSource: PublicRecords
  • Appliances Dishwasher: Yes
  • Appliances:Tankless Water Heater: Yes
  • Appliances:Electric Range: Yes
  • Pool Features:Community: Yes
  • Interior Features:Ceiling Fan(s): Yes
  • Interior Features:Pantry: Yes
  • Interior Features:Split Bedrooms: Yes
  • Interior Features:Walk-In Closet(s): Yes
  • Interior Features:Elevator: Yes

Exterior Features

  • Exterior Features: Balcony
  • Pool Features: Community
  • Roof: Concrete, Other
  • Acres: 0.04
  • Waterfront Features: River Front
  • Waterfront: Yes
  • Construction Type: Block, Concrete
  • Direction Faces: West
  • Patio And Porch Features: Wrap Around
  • Construction Materials:Block2: Yes
  • Construction Materials:Concrete4: Yes
  • Exterior Features:Balcony: Yes
  • Patio And Porch Features:Wrap Around: Yes
  • View:River: Yes
  • Waterfront Features:River Front: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: Garage Door Opener, Guest, Underground, Other
  • General Property Information:Garage YN: Yes
  • General Property Information:Garage Spaces: 2.0
  • Parking Features:Garage Door Opener: Yes
  • Parking Features:Guest: Yes
  • Parking Features:Underground2: Yes
  • Parking Features:Other26: Yes

Utilities

  • Cooling: Central Air
  • Utilities: Cable Available, Water Available
  • Heating: Central
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Central: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee: 780.0
  • Association Fee Frequency: Monthly
  • Association Name: MARINA VILLAGE CONDO PH VI
  • Association: Yes

Association/Amenities

  • General Property Information:Association YN: Yes
  • General Property Information:Association Name: MARINA VILLAGE CONDO PH VI
  • General Property Information:Association Fee: 780.0
  • General Property Information:Association Fee Frequency: Monthly
  • Association Amenities:Sauna2: Yes
  • Association Amenities:SpaHot Tub: Yes
  • Association Fee Includes:Cable TV: Yes
  • Association Fee Includes:Insurance: Yes
  • Association Fee Includes:Internet: Yes
  • Association Fee Includes:Water: Yes
  • Association Amenities:Fitness Center: Yes
  • Association Amenities:Boat Dock: Yes
  • Association Amenities:Storage: Yes
  • Association Amenities:Elevator(s): Yes
  • Association Fee Includes:Sewer: Yes
  • Association Fee Includes:Trash: Yes
  • Association Fee Includes:Pest Control: Yes

Schools

  • Middle Or Junior School: Jefferson

Lot Info

  • Lot Size Sq Ft: 1742.0
  • ResoLotSizeUnits: Acres
  • Parcel #: 24-37-31-75-00000.0-0002.24
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 2654.64

MLS Schools

  • Elementary School: Tropical
  • High School: Merritt Island

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 22, 2023
Closed on
Mar 31, 2023
Sold by
Gadient Michelle L
Bought by
Pelter Lance and Pelter Maureen
Seller's Agent
Janis Shealy
Better Homes & Gardens RE Star
Buyer's Agent
Tiffany Schanck
Southern Tropics R.E. LLC
List Price
$521,000
Sold Price
$515,000
Premium/Discount to List
-$6,000
-1.15%
Views
6
Current Estimated Value
$516,217

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,217
Avg. Annual Appreciation
0.09%
Original Mortgage
$386,250
Outstanding Balance
$374,953
Interest Rate
6.32%
Mortgage Type
New Conventional
Estimated Equity
$141,264

Purchase Details

Listed on
Feb 22, 2023
Closed on
Mar 2, 2023
Sold by
Gadient James A
Bought by
Gadient Michelle L
Seller's Agent
Janis Shealy
Better Homes & Gardens RE Star
Buyer's Agent
Tiffany Schanck
Southern Tropics R.E. LLC
List Price
$521,000
Sold Price
$515,000
Premium/Discount to List
-$6,000
-1.15%
Views
6

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$386,250
Outstanding Balance
$374,953
Interest Rate
6.32%
Mortgage Type
New Conventional
Estimated Equity
$141,264

Purchase Details

Closed on
Jun 23, 2022
Sold by
Gadient James A and Liv Michelle
Bought by
Gadient Michelle L

Purchase Details

Closed on
Dec 20, 2012
Sold by
Gadient James A and Gadient Michelle L
Bought by
Gadient James A and Gadient Michelle L

Purchase Details

Closed on
Sep 27, 2011
Sold by
Tbom Merritt Island Llc
Bought by
Gadient James A and Gadient Michelle L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
4.24%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pelter Lance $515,000 Island Title & Escrow
Pelter Lance $515,000 Island Title & Escrow
Gadient Michelle L $100 Island Title
Gadient Michelle L $100 Island Title
Gadient Michelle L -- None Listed On Document
Gadient James A -- Attorney
Gadient James A -- Island Title & Escrow
Gadient James A -- Island Title & Escrow
Gadient James A $180,000 Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pelter Lance $386,250
Closed Pelter Lance $386,250
Previous Owner Gadient James A $135,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/31/2023 03/31/23 Sold $515,000 -1.2% $230 / Sq Ft
02/22/2023 02/22/23 Pending -- -- --
02/22/2023 02/22/23 For Sale $521,000 0.0% $233 / Sq Ft
02/17/2023 02/17/23 Pending -- -- --
02/06/2023 02/06/23 For Sale $521,000 -- $233 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,310 $405,140 -- --
2024 $6,331 $428,210 -- --
2023 $6,331 $465,300 $0 $465,300
2022 $2,655 $210,440 $0 $0
2021 $2,759 $204,320 $0 $0
2020 $2,689 $201,500 $0 $0
2019 $2,650 $196,970 $0 $0
2018 $2,654 $193,300 $0 $0
2017 $2,674 $189,330 $0 $0
2016 $2,718 $185,440 $0 $0
2015 $2,798 $184,160 $0 $0
2014 $2,817 $182,700 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Janis Shealy

    Seller's Agent in 2023

    Janis Shealy

    Better Homes & Gardens RE Star

    (954) 849-5951

    3 in this area

    16 Total Sales

    Janis Shealy
    Section Image
  • Tiffany Schanck

    Buyer's Agent in 2023

    Tiffany Schanck

    Southern Tropics R.E. LLC

    (321) 431-0984

    1 in this area

    20 Total Sales

    Tiffany Schanck
    Section Image

  • A

    Buyer Co-Listing Agent in 2023

    Aida Teague

    Southern Tropics R.E. LLC

See All Agents

Map

Source: Space Coast MLS (Space Coast Association of REALTORS®)

MLS Number: 956600

Space Coast MLS (Space Coast Association of REALTORS®)

APN: 24-37-31-75-00000.0-0002.24

Florida Brevard County Merritt Island 32952

550 S Banana River Dr Unit 201, Merritt Island, FL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Space Coast MLS (Space Coast Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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