Living in Florida's Space Coast
Courtyards at Waterstone
Courtyards at Waterstone is the Landsea Homes section of Waterstone, reached by Middlebury Drive and Rixford Way off Mara Loma Boulevard. It went up between 2022 and 2024 and sold out. Roughly two thirds of the houses sit on a lake. Most are single story, 1,635 to 2,751 square feet, on 50 and 60 foot lots. Dues bill once a year.
Courtyards at Waterstone In Palm Bay, Florida
Landsea Homes closed on the first 42 homesites here in October 2021 and opened the gated section the following year with designs from roughly 1,800 to 2,850 square feet on 50 and 60 foot lots. Phase 2 followed. Courtyards at Waterstone Homeowners Association Inc. was registered with the Florida Division of Corporations in 2020, and by early 2025 the builder had nothing left to sell.
Water is the defining feature. About two thirds of the houses back to a retention lake, and the plat is arranged so the lakes sit behind the rear lot lines rather than off to one side. That is a higher share of water frontage than almost anything else in south Palm Bay at this price. A rear lake lot here has consistently carried a premium over an interior homesite, and it holds that premium on resale.
The product skews single story, which separates Courtyards from the two story heavy sections around it. Plans run 1,635 to 2,751 square feet with three to five bedrooms and two to four baths, two and three car garages, block and stucco with stone accents on the front elevation, shingle roofs, storm shutters, and irrigation in the front and rear yards. Lots are compact, roughly a seventh to a fifth of an acre.
Assessments are billed annually in most of the section, generally in the $660 to $860 range, with a smaller quarterly arrangement around $215 elsewhere in the community. That funds the gate, common grounds and the shared Waterstone amenities. Management is off site. Because the section was platted in two phases, paperwork sometimes reads Phase 1 or Phase 2, and the fee arrangement has not been identical across every house.
Pricing centers near $440,000 with a range from the low $370,000s past $700,000, working out to roughly $193 a square foot. That is meaningfully above the KB Home section a half mile west, and the gap is real: smaller houses, more single story plans, and far more water. One footnote for buyers. Landsea was acquired by New Home Co. in June 2025, and the combined builder now operates as Risewell Homes, so structural warranty questions route there.
Courtyards at Waterstone At A Glance
Courtyards at Waterstone at a glance.
| Detail | What you get |
|---|---|
| Detail | Value |
| Location | Middlebury Drive and Rixford Way off Mara Loma Boulevard, Palm Bay 32909 |
| Built | 2022 to 2024, about 2023 typical |
| Builder | Landsea Homes, now operating as Risewell Homes |
| Home size | 1,635 to 2,751 square feet, about 2,266 typical |
| Bedrooms | Three to five, with two to four baths |
| Levels | Predominantly single story |
| Lot size | 0.14 to 0.20 of an acre, about 0.16 typical |
| Construction | Concrete block and stucco with stone accents, shingle roofs, storm shutters |
| Association | Mandatory. Generally $660 to $860 annually, with a quarterly arrangement near $215 in places. Courtyards at Waterstone Homeowners Association Inc., registered 2020, off site management |
| Gated | Yes, controlled entry |
| Water frontage | About two thirds of the houses back to a lake |
| Garage | Two and three car |
| Utilities | City water and public sewer |
| Price range | $370,000 to $700,000, typical $440,000 |
| Price per square foot | Around $193 |
| Streets | Middlebury Drive carries most of the section, with Rixford Way at the entrance |
Courtyards at Waterstone Details
Water Behind Most Of The Houses
Two thirds backing to a lake is not a marketing angle, it is how the plat was drawn. Lakes sit behind rear lot lines rather than tucked into corners, so the water lots are the rule and the interior lots are the exception. Price the interior ones accordingly.
Single Story Is The Default
Most of Waterstone leans two story. Courtyards does not. If you want everything on one floor with a lake behind it and a 2023 build date, this pocket is where the search narrows, and that scarcity shows up in what these houses resell for.
One Street Does The Work
Middlebury Drive carries the overwhelming majority of the homes, with Rixford Way handling the entrance. That makes the section easy to learn and easy to compare, because nearly every house you are weighing sits on the same road with the same setbacks.
Built Out And Done
The builder sold through by early 2025. There is no model row competing with resale here, no inventory house being discounted at quarter end. What you see for sale is what an owner has decided to list, which makes pricing more predictable than in an actively selling section.
Annual Dues, Not Monthly
Most owners get one bill a year in the $660 to $860 range rather than a monthly draft. Budget for it as a lump sum, and ask for the current budget and reserve position rather than relying on last year's figure.
The Builder Changed Names
Landsea Homes was acquired by New Home Co. in June 2025, and the two now trade as Risewell Homes. The houses did not change, but warranty and service requests route to the successor company. Confirm what transferable coverage is left before closing.
Homes For Sale In Courtyards at Waterstone
Current listings in Courtyards at Waterstone appear below. Since the builder finished, everything here is a resale, so pay attention to which homesite backs to water and which does not.
Courtyards at Waterstone Frequently Asked Questions
Who built Courtyards at Waterstone?
Landsea Homes. The company closed on the first 42 homesites in October 2021, opened the gated section in 2022, added a second phase, and sold through by early 2025. Landsea was acquired by New Home Co. in June 2025 and the combined builder now operates as Risewell Homes.
How is this different from Gardens at Waterstone?
Different builder, different product, different association. Gardens is the KB Home section, larger and more two story, at a lower cost per square foot. Courtyards is the Landsea section, smaller, mostly single story, with far more lake frontage and a higher price per foot.
Is it gated?
Yes. Courtyards has controlled entry, and gate maintenance is part of what the association funds. The section sits inside the larger Waterstone plan but keeps its own entrance and its own homeowners association.
What do the dues cover and how often are they billed?
Most owners pay annually, generally $660 to $860, with a quarterly arrangement around $215 in some parts of the community. The money covers the gate, common area grounds and shared Waterstone amenities, with off site management. Ask for the current budget in writing.
How many homes back to water?
Roughly two thirds. The retention lakes run behind the rear lot lines rather than along the street, so water frontage is the norm. If you are shown an interior lot at the same price as a lake lot, that is a conversation worth having before you write.
Are the homes one story or two?
Mostly one. That is unusual for new construction in this corridor and it is a large part of why the price per square foot runs above the neighboring sections. The two story plans that do exist tend to be the larger four and five bedroom layouts.
Will my property taxes change after I buy?
Probably. Houses completed in 2022 through 2024 were assessed partway through construction in some cases, so the bill on record may not reflect finished value. Get an estimate based on your purchase price, and file for homestead exemption if it applies to you.
How far is I-95?
Roughly ten minutes. Mara Loma Boulevard meets Babcock Street, and Babcock connects to the St Johns Heritage Parkway and exit 166. Melbourne, the airport and the causeways east are a straightforward drive from there.
Middlebury Drive, Palm Bay 32909
Courtyards sits on the eastern side of the Waterstone plan in southeast Palm Bay, closer to Babcock Street than the KB Home section further west. From I-95 you take exit 166 at the St Johns Heritage Parkway, run east to Babcock Street, turn south, then west on Mara Loma Boulevard. Rixford Way is the turn in, and Middlebury Drive loops from there past the lakes.
This is a highway access location rather than a walk to anything location. Everyday shopping means driving north on Babcock Street or over to Malabar Road, and the nearest large grocery anchors are several minutes out. In exchange you are close to the interstate, twenty to twenty five minutes from Melbourne Orlando International Airport, and roughly half an hour from the Atlantic across a causeway. Palm Bay itself is inland.
Near Courtyards at Waterstone In Merritt Island
Considering Courtyards at Waterstone?
Two houses on Middlebury Drive can carry the same plan and the same year and still be worth twenty thousand dollars apart, entirely because of what is behind them and which way the lanai faces. My partner Nichole and I walk Waterstone regularly and can tell you which homesites hold value here and which ones do not. Call or text (321) 212-7676.
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