At $225,000 for a waterfront 2/2, you're below the median condo price in Cape Canaveral ($286K–$350K), which is smart value, but the 1985 build means you'll want a thorough inspection—older oceanfront buildings here can carry significant maintenance surprises, especially post-Surfside when scrutiny on structural integrity tightened. No HOA is unusual and attractive for budget control, but verify what that actually covers: waterfront maintenance, exterior reserves, and flood insurance costs can quickly erode the savings if they're passed to individual owners instead. The location is solid for retirees or empty-nesters seeking affordable Space Coast oceanfront access, but the demographic skews older (median age 58) and inventory is deep, so you've got room to negotiate rather than rush.

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