At $229K, you're well below the current median condo price of $375K–$412K in Cocoa Beach, which signals either genuine value or red flags worth investigating—likely the 1973 construction and potential reserve-fund demands that are depressing comparable sales down 7.4% year-over-year. The $287/sqft price is reasonable for the market, but verify the building's structural condition and reserve study carefully, since older waterfront condos in this area are facing mounting inspection and maintenance costs that buyers are increasingly pricing in. This would work as a cash investment or for a buyer willing to take on renovation risk, but financing and insurance may be trickier on a 50-year-old building, especially given the 60% cash-purchase share locally.

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