5137 Royal Paddock Way, Merritt Island, FL, 32953
About This Home
An extraordinary opportunity to own a custom-built estate crafted by one of the region's most respected luxury builders, originally constructed as a personal residence and perfectly situated on a full acre of beautifully landscaped grounds. Ideally located just minutes from Cocoa Beach, the world-famous shoreline, Port Canaveral, premier shopping, and renowned restaurants--yet privately tucked away within its own peaceful sanctuary. From the elegant old-world textured exterior to the travertine flooring throughout, every detail reflects timeless craftsmanship and refined design. Recent upgrades include a brand-new roof, Viking refrigerator with premium Viking appliances, new water heater, custom front entry door, and new washer. At the heart of the home is a chef's island kitchen featuring rich cherry cabinetry with chocolate glaze, granite countertops, and high-end finishes. The luxurious primary suite offers a spa-inspired bath with soaking tub, wrap-around dual-entry shower, private vanities, and a spacious walk-in closet. Outdoors, a private resort setting awaits with a heated lagoon-style pool, screened lanai with summer kitchen, lush tropical landscaping, and mature fruit trees creating the ultimate Florida retreat. The versatile floor plan includes a refined front office, a private two-bedroom guest wing with full bath, a separate rear guest suite, and an upstairs sixth-bedroom retreat with media/playroom and private balcony, all complemented by a renovated four-car garage complete with EV charging. Thoughtfully designed and impeccably executed, this is more than a residence--it is a legacy estate crafted for luxury living, entertaining, and enduring value.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 2005
Materials
- Roof: Shingle
- Construction materials: Block,Concrete,Frame,Stucco
Type & Style
- Home type: SingleFamily
- Architectural style: Craftsman,Traditional
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dishwasher,Dryer,Electric Water Heater,Gas Oven,Gas Range,Ice Maker,Washer
- Laundry features: Lower Level
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 4
Features
- Breakfast Nook,Built-in Features,Ceiling Fan(s),Eat-in Kitchen,Entrance Foyer,Guest Suite,His and Hers Closets,Kitchen Island,Open Floorplan,Pantry,Primary Downstairs,Split Bedrooms,Vaulted Ceiling(s),Walk-In Closet(s)
- Flooring: Tile,Wood
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total structure area: 5,956
- Total interior livable area: 4,327 sqft
Property
Details
- Parcel number: 23362525E18
- Special condition: Standard
Features
- Stories: 2
- Private pool: Yes
- Pool features: In Ground,Waterfall
- Exterior features: Courtyard,Outdoor Kitchen
- Has view: Yes
- View description: Pond,Trees/Woods,Water
- Has water view: Yes
- Water view: Pond,Water
- On waterfront: Yes
- Waterfront features: Pond
- Waterbody name: Canal Non-Navigation
Lot
- Lot size: 1 Acres
- Features: Other
- Lot size dimensions: 131 x 366
Parking
- Total spaces: 4
- Parking features: Garage,Gated,Secured
- Has garage: Yes
- Attached garage spaces: 4
- Covered spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Hurricane
- Lightning
- Wildfire
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Brevard County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,331 | $87,972 |
| Home Insurance * | $1,175 | $14,100 |
| Property Taxes | $1,473 | $17,676 |
| Electricity | $435 | $5,225 |
| Total | $10,414 | $124,968 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-13 | Price change | $1,500,000 |
| 2026-03-07 | Listed for sale | $1,600,000 |
| 2025-09-22 | Listing removed | $1,700,000 |
| 2025-07-09 | Price change | $1,700,000 |
| 2025-03-20 | Listed for sale | $1,799,999 |
| 2008-05-29 | Sold | $620,000 |
| 2008-01-18 | Listed for sale | $849,900 |
| 2005-09-21 | Sold | $536,000 |
| 2004-06-11 | Sold | $170,000 |
View on Zillow