Merritt Island Homes under $500,000

Merritt Island Homes under $500,000

Welcome to Merritt Island, Florida—a hidden gem nestled in the heart of Brevard County, where the lush landscapes meet the sparkling waters of the Indian River Lagoon. Known for its vibrant community and rich natural beauty, Merritt Island offers a unique blend of suburban charm and coastal living. With its close proximity to the renowned Kennedy Space Center and the stunning beaches of Cocoa Beach, residents enjoy a lifestyle filled with adventure, culture, and recreation.

For those seeking a home in this idyllic locale, Merritt Island boasts a variety of options under $500,000, making it an attractive choice for first-time homebuyers, families, and retirees alike. From cozy single-family homes to spacious townhouses, the real estate market here is diverse, catering to various tastes and lifestyles. Many properties feature modern amenities, lush backyards, and are ideally situated near parks, schools, and shopping centers.

Imagine sipping your morning coffee on a sun-drenched patio, or taking a leisurely stroll along the scenic waterfront. With year-round warm weather and a strong sense of community, Merritt Island invites you to create lasting memories in a place you’ll be proud to call home. Whether you’re looking to invest in a starter home or find your forever residence, Merritt Island’s real estate opportunities under $500,000 are waiting for you. Discover the perfect blend of comfort, convenience, and coastal charm in this enchanting Floridian paradise!

Newest Merritt Island Homes under $500,000

1485 Holly Avenue, Merritt Island
$465,000
4 Beds ⋅ 3 Baths ⋅ 1089216 MLS
Welcome to this exceptional Merritt Island home featuring a private in-law suite, ideally located just minutes from Cocoa Beach, Port Canaveral, and Kennedy Space Center. This 4-bedroom, 3-bath concrete block home blends modern style with warmth and character, featuring thoughtful lighting, distinctive accent details, and a stunning kitchen that truly takes center stage. The separate guest suite offers its own kitchenette, bathroom, living area, and private outdoor space perfect for multigenerational living, extended-stay guests or potential rental income. Step outside and discover a backyard designed for enjoying the best of Florida living. Lush landscaping creates a private oasis complete with a fire pit, hammocks, and a charming gazebo made for entertaining, relaxing, and gathering with family and friends, while still providing plenty of space and privacy for everyone. Furniture is negotiable

1485 Holly Avenue, Merritt Island
120 Mutiny Lane, Merritt Island
$74,500
1 Beds ⋅ 1 Baths ⋅ 1089200 MLS
Hidden Gem Nestled Perfectly In The Heart Of The Banana River, Cocoa Beach and Port Canaveral. Tucked away nicely in a peaceful, serene living with the amenities of the city and beaches at your doorstep. Coveted first floor unit. A Truly Maintenance Free Living with several full time maintenance men on staff daily in a beautifully cared for community. Resort style pool is heated year round and serviced daily. Matching tile throughout main living areas, super spacious walk in closet, windows galore with beautiful green space and mature tree views, deeded carport. Community gazebo for gatherings, covered playground, barbecue, pickle and basketball court. 5 convenient laundries are secured and equipped with smart washer/ dryers. Boat parking available first come for a low fee. Easy access to Orlando via 528 Beachline. Fishing, dining, shopping, golf, music, bus line. No Rental or AirBnB. Cash Only. Buyer must submit Co-op application, credit check & board approval. Hallways are being remodeled.

120 Mutiny Lane, Merritt Island
440 Pine Boulevard, Merritt Island
$325,000
4 Beds ⋅ 2 Baths ⋅ 1089181 MLS
South Merritt Island four bedroom pool home on a oversized .35 acre lot with tons of potential. Newer roof and air conditioner with an oversized two car garage. Spanish tile and wood flooring throughout. Eat in kitchen with gas range for the chef and spacious family room with fireplace. Layout has two bedrooms on first floor, primary and addiitional bedroom with loft on the send floor. Enclosed patio that leads to the private fenced in backyard with pool that needs some TLC. Close to schools, shopping, dining and beaches.

440 Pine Boulevard, Merritt Island
4381 Timothy Drive, Merritt Island
$298,000
3 Beds ⋅ 2 Baths ⋅ 1089116 MLS
Located in Osprey Village, a gated 55+ community in North Merritt Island, this 3-bed, 2-bath home offers serene wetland and Sykes Creek views from its private screened lanai. The lanai is the centerpiece of the outdoor space, featuring stone flooring and a full outdoor kitchen. Inside, tall ceilings and wide sliding doors provide abundant natural light, with tile flooring flowing through the main living areas. The kitchen has solid wood cabinets, a breakfast bar, and a spacious pantry. The primary has sliders to the lanai, two walk-in closets, and an en suite with a double vanity, walk-in shower, and a soaking tub. All bedrooms are carpeted for comfort. The attached 2-car garage and laundry with included washer/dryer add convenience. Residents enjoy a pool, bocce ball court, and being minutes to the beaches with a great view of rocket launches. The HOA covers cable, internet, lawn care, exterior maintenance and roof replacement -- completed in 2020. Low-maintenance living awaits!

4381 Timothy Drive, Merritt Island
380 Hunt Drive, Merritt Island
$299,000
3 Beds ⋅ 2 Baths ⋅ 1089012 MLS
Welcome home to this beautifully remodeled 3-bedroom, 2-bath concrete block home in the heart of Merritt Island with NO HOA! Featuring a 2022 roof, original terrazzo floors throughout, an updated kitchen with newer appliances and cabinetry, and a screened patio perfect for enjoying Florida living. The front yard even features a fruit-bearing starfruit tree! Conveniently located less than 10 minutes from Cocoa Beach and the Pier, with easy access to Kennedy Space Center, Merritt Island National Wildlife Refuge, shopping, dining, and more. Approximately 45 minutes to Orlando's world-famous attractions. Whether you're looking for a primary residence, downsizing, a first home, or an investment opportunity, this stylish and inviting home offers comfort, location, and versatility.

380 Hunt Drive, Merritt Island
240 Spring Drive Unit 2, Merritt Island
$168,900
2 Beds ⋅ 2 Baths ⋅ 1088933 MLS
Welcome to this newly updated 2-bedroom, 2-bath first-floor condo offering comfort, style, and a peaceful pond view right outside your back door. Step inside to find luxury vinyl plank (LVP) flooring throughout, fresh interior paint, newly updated ceilings with the popcorn texture removed, and a brand-new HVAC system. The fully remodeled kitchen features brand-new cabinetry, sleek countertops, all new stainless-steel appliances, and convenient in-kitchen laundry, perfect for both everyday living and entertaining. Both bathrooms have also been refreshed with updated vanities, adding to the home's clean, modern feel. Enjoy the convenience of 1st floor living with no stairs and a layout that flows effortlessly from the kitchen into the living space. Relax with your morning coffee or unwind in the evening while taking in the tranquil pond views. Ideally located on Florida's Space Coast, you're just minutes from Kennedy Space Center, Blue Origin, SpaceX, Port Canaveral, & the beaches

240 Spring Drive Unit 2, Merritt Island
820 Del Rio Way Unit 301, Merritt Island
$339,000
3 Beds ⋅ 2 Baths ⋅ 1088670 MLS
Welcome to effortless Florida living in the heart of Merritt Island! This spacious 3-bedroom, 2-bathroom condo features an open floor plan and impressive wraparound balcony with beautiful views!! The perfect place to relax and enjoy spectacular Space Coast rocket launches right from your home. Built-in storm shutters on all sliding doors provide added protection. The primary suite offers balcony access, his and her closets, a relaxing soaking tub and separate walk-in shower. Enjoy the true maintenance free living with a one car garage space, heated pool and hot tub, fitness center, club house and gazebo to relax by the water. Centrally located near shopping, dining, the future hospital, with the Orlando International Airport only 45 minutes away and Central Florida's world-famous theme parks about an hour away. Experience the best of the Space Coast-comfortable condo living, resort style amenities, and a front row view of the Rocket Launches from your own balcony

820 Del Rio Way Unit 301, Merritt Island
285 Hickory Avenue, Merritt Island
$334,000
3 Beds ⋅ 2 Baths ⋅ 1088805 MLS
Discover the charm of this inviting house located at 285 Hickory Ave, Merritt Island, FL. This spacious home accords 1730 square feet of living space, providing ample room for comfortable living. With three well-proportioned bedrooms, the property ensures privacy and relaxation for all residents. This house has a new Kitchen an impact windows an new hot water tank an 5 camera security on a DVR. The home's layout promotes a seamless flow between rooms, enhancing both functionality and style. The property's prime location in Merritt Island accords the convenience of nearby amenities and attractions while providing a peaceful setting.

285 Hickory Avenue, Merritt Island
1320 Johns Circle, Merritt Island
$468,700
3 Beds ⋅ 2 Baths ⋅ 1088613 MLS
Welcome to your fully renovated paradise! This gorgeous 3/2 pool home is the epitome of Florida living! Relax and entertain in the large breezy outdoor living area that includes an outdoor kitchen with stainless countertops with hot and cold water, and a refrigerator. Take a dip in the heated pool. Enjoy watching rocket launches and the outdoor TV directly from your hot tub! Recent updates include a METAL ROOF, updated HVAC, ducts & insulation, ALL IMPACT RATED WINDOWS AND DOORS, stainless appliances, and a whole-house water filtration system. COMPLETE RE-PIPE, NO CAST IRON! The fully fenced yard offers total vinyl privacy. No HOA means plenty of room for your boat or RV. Just minutes to Kelly Park boat launch, pristine beaches, NASA, SpaceX, dining, cruise terminals, and an easy commute to Orlando Airport. Move right in and start living the Florida dream!

1320 Johns Circle, Merritt Island
200 Bounty Street, Merritt Island
$175,000
3 Beds ⋅ 2 Baths ⋅ 1088509 MLS
TURNKEY LUXURY...Fully Furnished To A High Standard. A much coveted 3 Bed, 2 Bath First Floor End Unit. Bring Your Boat...ONLY 4 MILES TO THE BEACH SURROUNDED BY RIVERS! Near SpaceX, the Port, Beaches, Dining with easy access to Orlando. Primary with walk in closet and private bathroom remodeled with designer quartz tops. The immaculately kept terrazzo is a beautiful light color, runs throughout and is in pristine condition=No Grout Joints To Scrub! Upgraded 6 panel doors and baseboards. Endless windows for natural lighting galore. Deeded carport close to entrance with room for a shed. A Truly Maintenance Free Living in a beautifully kept community with full time maintenance. Monthly fee covers maintaining/replacing co-op issued A/C unit & water heater, water/sewer, trash and property taxes. Cash only, Owner Occupants Only. No Rentals, No Air BnB. Buyer must submit Co-op application, credit check & board approval.

200 Bounty Street, Merritt Island
360 Fisher Lane, Merritt Island
$245,000
3 Beds ⋅ 2 Baths ⋅ 1088504 MLS
This completely remodeled 3-bedroom, 1.5-bathroom home offers a fresh, move-in-ready interior with thoughtful updates throughout. Major improvements include a new roof in 2026, HVAC system installed in 2022, and water heater replaced in 2023. Step inside to a bright and inviting floor plan featuring updated flooring, fresh finishes, modern fixtures, and a clean, contemporary design. The beautifully renovated kitchen features updated cabinetry, countertops, appliances, and plenty of space for everyday living and entertaining. Both bathrooms have been refreshed with modern finishes and fixtures, while all three bedrooms provide comfortable and flexible living space. With the remodeling already completed and major systems recently updated, this home is ready for its next owner to move in and enjoy. Outside, the property offers additional space for relaxing, entertaining, gardening, or creating your own backyard retreat.

360 Fisher Lane, Merritt Island
915 Waikiki Drive, Merritt Island
$445,000
4 Beds ⋅ 2 Baths ⋅ 1088498 MLS
POOL HOME IN THE HEART OF MERRITT ISLAND! Welcome to this beautifully updated 4-bedroom, 2-bath home with approximately 1,600 square feet of living space, and a 2-car garage, located in the established Catalina Isle community.The updated kitchen features granite countertops, stainless steel appliances, 42-inch upper cabinets, and soft-close drawers, providing plenty of storage and workspace. Outside, enjoy your own Florida retreat with a fully fenced backyard and in-ground deep swimming pool.Major improvements include a 2023 roof, new A/C installed in December 2025, and an upgraded electrical panel, offering added peace of mind for the next owner. The home also features a 2-car garage with additional room for storage.The central Merritt Island location puts you close to shopping, dining, schools, and everything the Space Coast has to offer.Spend the day at the beach, approximately 10 minutes away, enjoy easy access to Kennedy Space Center, or Orlando airport is just 45 minute drive.

915 Waikiki Drive, Merritt Island
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