At $3,000 for a 1,600-sqft waterfront unit, you're looking at $2/sqft—significantly below the median condo price of $375K–$412K in Cocoa Beach, which should raise immediate questions about condition, reserve requirements, or structural issues given the 1975 build date. The no-HOA structure is rare and valuable, but without HOA you're on the hook personally for any major building repairs, and at nearly 50 years old, waterfront concrete buildings in Florida face predictable seawall, HVAC, and envelope costs that inspections and engineers will likely uncover. This price point only makes sense as a cash deal or heavy renovation play—not as a move-in-ready primary residence.

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