At $775/sqft for a brand-new 200-sqft single-bedroom, you're paying premium per-square-foot pricing that's justified by the 2023 build quality but leaves little room for appreciation—this is essentially a tiny investment property or starter unit in a market where the median home is $330K. The real question is whether you're buying this as a permanent residence (tight for most people) or as a rental/investment play in Cocoa's revitalizing downtown corridor, which has genuine pedestrian appeal and proximity to aerospace jobs, but the micro-footprint limits your tenant pool and resale flexibility. No HOA and a 0.17-acre lot are positives, but scrutinize the actual location within Peacewind subdivision and walkability to Cocoa Village—that 400 feet could make the difference between a location that appreciates with the neighborhood revival or one that stays marooned in a development.

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