What can you buy for under $470,000 in Cape Canaveral, FL?
Eight of the thirteen condominium communities in Cape Canaveral carry a median under $470,000: Royal Mansion, Solana Lake, Shorewood, Bayside, Puerto Del Rio, Bayport, Solana on the River and Canaveral Towers.
Eight of thirteen. That ratio is the argument for Cape Canaveral. Here the sub $470,000 tier is not the leftover shelf, it is the market itself. Cross the city line south into Cocoa Beach and only five of twenty one established buildings sit that low.
What the money buys is different too. The Cape Canaveral entry tier runs roughly 1,500 to 2,600 square feet built between 1996 and 2007, mostly three bedrooms, most of it on water. The Cocoa Beach entry tier is mostly 1,098 to 1,320 square feet in buildings from 1972 to 1985.
And one number decides whether any of it is affordable, which is not the price. It is the monthly fee, spanning $695 to $1,252 across these eight, so every price below carries its fee in the heading.
Divide the annual fee by the purchase price
Take the midpoint of each fee, multiply by twelve, divide by the median price. That is the share of the purchase you hand back to the association every year, and it separates these eight more cleanly than price does.
| Community | Median price | Monthly fee | Annual fee | Fee as a share of price |
|---|---|---|---|---|
| Bayport | $458,000 | $700 to $775 | About $8,850 | About 1.9 percent |
| Solana Lake | $436,250 | $695 to $750 | About $8,670 | About 2.0 percent |
| Bayside | $446,250 | $753 to $815 | About $9,408 | About 2.1 percent |
| Solana on the River | $462,500 | $845 to $875 | About $10,320 | About 2.2 percent |
| Shorewood | $445,000 | $825 to $865 | About $10,140 | About 2.3 percent |
| Puerto Del Rio | $450,000 | $860 to $945 | About $10,830 | About 2.4 percent |
| Canaveral Towers | $463,000 | $1,085 flat | About $13,020 | About 2.8 percent |
| Royal Mansion | $435,000 | $960 to $1,252 | About $13,272 | About 3.1 percent |
Bayport and Royal Mansion sit $23,000 apart on price and about $4,422 apart on the annual fee, permanently. Hold either a decade and that gap is roughly $44,000 that builds no equity, larger than anything you will negotiate off a $450,000 asking price here.
The eight, lowest median first
Royal Mansion, $435,000, fee $960 to $1,252
Royal Mansion is a 1988 oceanfront building on Ridgewood Avenue with one 1,058 square foot two bedroom plan. Lowest median in the city and highest fee in the city, which is the trade in a single line. It does carry the lightest tax bill here, about $2,773 a year. Only one unit traded in the last twelve months, so it has to be priced against the buildings around it.
Solana Lake, $436,250, fee $695 to $750
Solana Lake on Lake Drive went up between 2001 and 2003, units run 1,698 to 1,956 square feet, and ten of the twelve that traded were on water. That $695 to $750 is the lowest waterfront fee in Cape Canaveral, and at about $250 per square foot you pay roughly a third less per foot than the Ridgewood Avenue towers. With nothing currently available, you may be waiting for the next one to surface.
Shorewood, $445,000, fee $825 to $865
Shorewood on Shorewood Drive is oceanfront on eight of ten, built between 1996 and 1998, with two and three bedrooms from 1,663 to 2,104 square feet. At about $236 per square foot it is the cheapest Atlantic frontage on this coast, and the range started at $360,000. Sellers took about 93 percent of asking after a sixty day median.
Bayside, $446,250, fee $753 to $815
Bayside on Bayside Drive was built between 2002 and 2005 with three and four bedrooms from 1,507 to 2,092 square feet. Two of six were waterfront and four were not, so water is a question about the specific unit. Nothing in either beach city carries a lighter tax line, about $3,120 a year, and a mid pack fee on top of that produces the cheapest monthly in Cape Canaveral.
Puerto Del Rio, $450,000, fee $860 to $945
Puerto Del Rio on Puerto Del Rio Drive finished in phases between 2003 and 2007, and every unit is a three bedroom between 1,840 and 2,436 square feet. All thirteen that came to market were on the river side. About $216 per square foot is the lowest figure in either city and the range started at $399,000. The fee sits above the middle here, but it maintains considerably more building.
Bayport, $458,000, fee $700 to $775
Bayport on Casa Bella and Villanova is the newest construction on this page, 2005 and 2006, with units reaching 2,615 square feet, the largest floor plan in the tier. None of its ten were on water, which is precisely why it prices where it does, and five of the ten carried a private pool. A 126 day median at about 91 percent of asking gives real negotiating room.
Solana on the River, $462,500, fee $845 to $875
Solana on the River on Marbella and Sevilla is riverfront on all nine, built in 2004 and 2005, with 1,918 to 2,206 square foot two and three bedrooms at about $225 per square foot, starting at $387,000. What it will not hand you is leverage: sellers held about 97 percent of asking even after ninety one days.
Canaveral Towers, $463,000, fee $1,085
Canaveral Towers is a 1975 oceanfront tower on Ridgewood Avenue, one 1,145 square foot two bedroom plan, all four of its properties on the water. This is the only address in the tier where the monthly is genuinely heavy: a flat $1,085 fee against a $6,342 median annual tax bill. It also sat 256 days and traded near 84 percent of asking, the widest gap in either city.
Price and fee side by side
| Community | Median price | Prices from | Monthly fee | Year built | Unit size | Per sq ft | Median annual tax |
|---|---|---|---|---|---|---|---|
| Royal Mansion | $435,000 | $435,000 | $960 to $1,252 | 1988 | 1,058 sq ft | About $411 | $2,773 |
| Solana Lake | $436,250 | $420,000 | $695 to $750 | 2001 to 2003 | 1,698 to 1,956 sq ft | About $250 | $5,320 |
| Shorewood | $445,000 | $360,000 | $825 to $865 | 1996 to 1998 | 1,663 to 2,104 sq ft | About $236 | $4,696 |
| Bayside | $446,250 | $410,000 | $753 to $815 | 2002 to 2005 | 1,507 to 2,092 sq ft | About $249 | $3,120 |
| Puerto Del Rio | $450,000 | $399,000 | $860 to $945 | 2003 to 2007 | 1,840 to 2,436 sq ft | About $216 | $5,287 |
| Bayport | $458,000 | $435,000 | $700 to $775 | 2005 to 2006 | 1,507 to 2,615 sq ft | About $292 | $4,042 |
| Solana on the River | $462,500 | $387,000 | $845 to $875 | 2004 to 2005 | 1,918 to 2,206 sq ft | About $225 | $5,238 |
| Canaveral Towers | $463,000 | $405,000 | $1,085 flat | 1975 | 1,145 sq ft | About $404 | $6,342 |
What this money does not buy one city south
Compare like for like. Sandcastles in Cocoa Beach runs a $454,000 median on an identical 1,286 square foot oceanfront two bedroom from 1985, fee $830 to $1,090. Shorewood runs $445,000 on 1,663 to 2,104 square feet from 1996 to 1998, fee $825 to $865. Five dollars a month apart at the bottom of each range, about six hundred square feet and a decade apart on the product.
Cocoa Beach Club at $425,000 is the least expensive oceanfront median down there, a 1972 building of 1,098 to 1,240 square foot units carrying a $6,206 tax bill, and Sea Oats at $410,000 goes lower on a flat $700 fee. Both legitimate, both compact units in buildings past their fiftieth year.
One exception runs the other way. River Bend on Atlantic Avenue is a 2001 building where every unit is a waterfront three bedroom of 2,050 to 2,450 square feet, at a $415,000 median and about $189 per square foot. Nothing in Cape Canaveral touches that, though it is one building.
The two line items that move after you sign
Property tax resets on sale. The figures above reflect assessments as they currently stand, not what a purchase produces, so pull the parcel history at the Brevard County Property Appraiser. If this becomes your primary residence, read the homestead exemption page.
Then the paperwork. On any of the eight, request the reserve study, the most recent milestone inspection report, the last twelve months of board minutes, the current annual budget and the declaration governing your unit. The Florida Division of Condominiums, Timeshares and Mobile Homes oversees this housing type at the state level.
Frequently Asked Questions
What is the cheapest condo community in Cape Canaveral, FL?
Royal Mansion at $435,000 and Solana Lake at $436,250 are the two lowest medians, though Solana on the River started at $387,000. Measured on monthly cost instead of price, Bayside is cheapest to hold.
Can you buy waterfront in Cape Canaveral under $470,000?
Yes, and most of this tier is on water. Puerto Del Rio and Solana on the River were waterfront on every property that came to market, Solana Lake on ten of twelve, Shorewood on eight of ten. They are all sorted on the waterfront page.
Why are Cape Canaveral condos cheaper than Cocoa Beach condos?
Partly land, partly age, partly which side of the island a building sits on. The cleanest control is Avon by the Sea, one plat split by the city line, $500,000 on the Cape Canaveral side against $675,000 on the Cocoa Beach side. For the lifestyle half of that question read Cocoa Beach versus Cape Canaveral, or browse the condos page.
Let's Price the Monthly, Not the Sticker
Send me two or three of these eight and I will come back with the exact fee for the exact unit, the parcel tax history, and the combined monthly side by side. That usually removes half a list before anybody drives anywhere. Call or text (321) 212-7676, and whether this is a first purchase or a downsize from somewhere colder, my partner Nichole and I got your back. Next: the Cape Canaveral buyers guide, the snowbird and second home guide, or Merritt Island if a bridge is acceptable.
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