A Date of Death appraisal in Cocoa Beach asks what the subject was worth on the day the owner died, not what a similar property might bring today. Because banana river and canal homes are a different water market and condominium projects should be analyzed internally first can place homes in different buyer markets, the historical comparable set should be built around the subject's actual competitive position at death.
The effective date is the date the owner died, not the current inspection date. In Cocoa Beach, banana river and canal homes are a different water market can change which sales represent the subject, so the appraisal should establish whether that condition or location feature actually existed at death before relying on it.
Canal frontage, river access, dock utility, water depth, lot orientation, privacy, and shoreline condition create a buyer decision distinct from oceanfront condominium living. Its contribution belongs in the historical value only if it was present and recognized by buyers on the date of death.
HOA obligations, assessments when relevant, reserves, elevators, amenities, rental restrictions, unit position, and building condition can make a nearby project a poor substitute. The date-of-death analysis should reflect the buyer reaction to that feature when the owner died.
Permits and improvement history can help show which improvements, defects, site features, or community conditions were present on the date of death. That distinction matters when the Cocoa Beach property observed today is not physically the same property that buyers evaluated then.
A later Cocoa Beach sale may reflect remodeling, a different neighborhood setting, or market movement. It can be considered as history, but the date-of-death conclusion should be independently supported by sales and property evidence from the decedent's market period.
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