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South Beach 32963
1475 Pelican Lane
$725,000
● House - Off Market

1475 Pelican Lane

Vero Beach, FL 32963
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,234 Ft²
$4,159
Est. Monthly
2.82%
Cap Rate

About This Property

This wonderful home is located on quiet, dirt road with a full oak canopy making for a relaxing setting. 3 bd/2 ba split floor plan on a large lot with deeded beach access. Sizes are approx/subj to error.
Unit Size
1,234 Ft²
Days on Market
28 days
Land Size
-
Price per sqft
$588
Property Type
House
Property Taxes
$599
HOA Dues
-
Year Built
1957

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (Indian River #283800)

Price History

Date / Event Date Event Price
Jan 17, 2025 Sold
Premium
Sold
Dec 20, 2024 Listed by Dale Sorensen Real Estate Inc. $725,000
Listed by Dale Sorensen Real Estate Inc.

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1957
  • Effective Year Built: 1957
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 12
  • Building Style: 25
  • Exterior Walls Type: 7
  • Interior Walls Type: 6
  • Roof Shape Type: 8
  • Roof Cover Type: 14
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 17
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Garage Square Area: 195
  • Parking Space Count: 0
  • Patio Type: 94
  • Porch Type: 36
  • Pool Type: 0
  • Location Influence Type: 131

    Dimensions

  • Lot Size Square Feet: 13,504
  • Lot Size Depth Feet: 1,350
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 1,234
  • Gross Building Area: 1,234
  • Building Area: 1,234
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,234
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: NULL
  • Land Acres: 0000000310
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: SEC 16 TWN 33 RNG 40 GOV LOT 3 COM AT THE NE COR OF GOV LOT 3 SEC 16 RUN S ON THE E BNDY LINE OF SAID GOV LOT 3 FOR A DIS OF 405 FT TO A PIPE TH RUN W ON A LINE PARA TO THE N BNDY LINE OF SAID GOV LOT 3 FOR A DIS OF 300 FT TO A POB TH RUN W ON A LINE

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050508

Zoning

  • Zoning: RS-3

Geography

  • Parcel: 33-40-16-00000-0030-00010.0
  • Lot: 3
  • Meridian: SEC 16 TWN 33S RNG 40E
  • Municipality: UNINCORPORATED
  • Latitude: 27.611
  • Longitude: -80.3452

    Address

  • Full Address: 1475 Pelican Ln
  • Address - House Number: 1475
  • Address - Street Name: Pelican
  • Address - Suffix Type: Ln
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R008
  • 4-Digit Zip Code: 2671
  • Zip Code: 32963

Valuation

    Tax

  • Total Area: 1,591
  • Tax Year: 2022
  • Tax Amount: $366,049
  • Tax Rate Code Area: 7

    Appraisal Valuation

  • Standard Deviation: 0.1469
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 82
  • Final Value: 778,541
  • High Value: 892,913
  • Low Value: 664,168

    Market Valuation

  • Market Total Value: $450,468
  • Market Land Value: $340,000
  • Market Improvement Value: $110,468

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $290,286

    Exemptions

  • Disabled Exemption: Yes
  • Homeowner Exemption: Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Beach

Stats & Trends

Median Asking:

$995,000

Sale Price/ft²

$468

Below Asking

0.03%

Average Days on Market

98

Average Home Size

2711 ft²

Average Home Age

38.5 years

Currently For Sale

60 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1140 Cheval Drive, Vero Beach, FL, 32960

$2,200 /mo

  • 2 Beds
  • 2 Baths
  • 1,723 ft²
1140 Cheval Drive, Vero Beach, FL, 32960 Listing by Claudia Marie Hart

Rentals Near You

Click here to view more rentals in the neighborhood.
RAIRC

Listed by: Elizabeth M Sorensen, Dale Sorensen Real Estate Inc.
Last Updated: 2 years ago
Data Source: RAIRC, MLS# 283800
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Frequently Asked Questions

When was property at 1475 Pelican Lane built and last sold?
The property at 1475 Pelican Lane was built in 1957 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 1475 Pelican Lane is $728,344.
What are some comparable homes to 1475 Pelican Lane?
There are currently no comparable homes to 1475 Pelican Lane.
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