At $449k for a 900-sqft waterfront unit, you're paying a premium ($499/sqft) that sits notably above the current median condo sale in Cocoa Beach ($375k–$412k), so the waterfront location and 1963-built status need to justify that spread—especially given the median condo market has actually declined 7.4% year-over-year as buyers increasingly factor in aging building inspections and reserve fund assessments. This is a cash-heavy market (60% of condo buys), and with a median resident age of 59.8, you should scrutinize reserve studies, structural condition, and any pending special assessments before moving forward, since older oceanfront buildings in Florida often surprise buyers with significant capital improvement costs. The property's real appeal hinges on whether direct water access and the Diplomat's specific amenities outweigh the age risk and the price premium relative to comparable non-waterfront units nearby.

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