TL;DR: nice house in a great location. Feels like a private beach. Great views, plenty of food and shopping in the area, lots of things to do if you get bored of sitting on the beach.
We stayed in the Gull house which is the "cottage" of the three homes on the property, because I was specifically looking to have a view of the ocean.
The house is well equipped with what appear to be nearly new appliances. Simply furnished but comfortable. It is 25 yards from the beach, maybe 50 to the water at high tide.
The views are nice, the backyard is actually pretty private considering it shares the property with two other homes; the only time you'll see people is if there are other guests walking down to the beach.
There aren't any hotels right near the property, so the beach was very quiet. Only other residents and guests, and the occasional couple walking the beach. If you want to hang out by the water, it's very nice.
The building itself is showing it's age a bit, there are some unused electrical junction boxes hanging off the building in places (outside), and the inside "white wash" was done so hastily that there's literally white paint splashed on everything from the ceiling fan blades to the door hinges, to the floor.
That won't distract from your enjoyment at all, but it keeps the property from being 5-stars IMO.
The owners were both very friendly and helpful, although I didn't have an excuse to interact with either of them very much. Frederico (sp?) met us when we arrived and showed us around; unfortunately Valerie was busy and I only got to converse with her via phone.
Just personal notes:
* Avoid the Firehouse restaurant (steakhouse). Way overpriced for the quality and atmosphere. Way, way.
* Do try the Burger Inn if you want a fast (not McDonalds fast, but quick) burger, served carside, that's also delicious.
* Go to the Brevard zoo!
* Kayak tours, listed in owners binder of things to do, require 24 hour notice to set up. The owners are typically "on the water" starting in the morning, so you won't be able to reach them!