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Wabasso Beach 32963
1509 Orchid Drive
$775,000
● House - Off Market

1509 Orchid Drive

Vero Beach, FL 32963
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,833 Ft²
$5,893
Est. Monthly
$1,202
HOA / Fees
0.23%
Cap Rate

About This Property

Rarely available , southern exposure one level River Home. Light, bright open floor plan with volume ceilings and  fireplace, Beautiful enclosed sunroom and professionally landscaped charming backyard with retractable canvas awning. Tremendous master suite with large walk in closet, furnishings negotiable.  Range oven "as is".  Sizes are approx/subj to error.
Unit Size
1,833 Ft²
Days on Market
61 days
Land Size
-
Price per sqft
$450
Property Type
House
Property Taxes
$639
HOA Dues
$1,202
Year Built
1988

Payment Calculator

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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 #283307)

Price History

Date / Event Date Event Price
Jan 31, 2025 Sold
Premium
Sold
Dec 7, 2024 In contract -
In contract
Dec 1, 2024 Listed by Dale Sorensen Real Estate Inc. $825,000
Listed by Dale Sorensen Real Estate Inc.
Dec 29, 2016 Sold
Premium
Sold

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1988
  • Effective Year Built: 1988
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 10
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 23
  • Interior Walls Type: 3
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 1
  • Garage Square Area: 510
  • Parking Space Count: 2
  • Patio Type: 11
  • Porch Type: 36
  • Pool Type: 0
  • Location Influence Type: 131

    Dimensions

  • Lot Size Square Feet: 6,098
  • Lot Size Depth Feet: 1,416
  • Lot Size Frontage Feet: 446
  • Total Building Area: 2,343
  • Gross Building Area: 2,343
  • Building Area: 1,833
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,833
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SEA OAKS RIVER HOMES II
  • Land Acres: 0000000140
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: SEA OAKS RIVER HOMES II LOT 20 PBI 12-65 & 65A

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050506

Zoning

  • Zoning: RM-6

Geography

  • Parcel: 31-39-26-00020-0000-00020.0
  • Lot: 20
  • Meridian: SEC 26 TWN 31S RNG 39E
  • Municipality: UNINCORPORATED
  • Latitude: 27.7526
  • Longitude: -80.3989

    Address

  • Full Address: 1509 Orchid Dr
  • Address - House Number: 1509
  • Address - Street Name: Orchid
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R027
  • 4-Digit Zip Code: 4002
  • Zip Code: 32963

Valuation

    Tax

  • Total Area: 2,220
  • Tax Year: 2022
  • Tax Amount: $559,611
  • Tax Rate Code Area: 1

    Appraisal Valuation

  • Standard Deviation: 0.1883
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 75
  • Final Value: 761,254
  • High Value: 904,619
  • Low Value: 617,890

    Market Valuation

  • Market Total Value: $436,120
  • Market Land Value: $170,000
  • Market Improvement Value: $266,120

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $436,120
  • Assessed Land Value: $170,000
  • Assessed Improvements Value: $266,120

    Sales

  • Current Sale Contract Date: Nov 29, 2016
  • Current Sale Recording Date: Dec 29, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 55
  • Current Sale Input Document Number: 3120160073520
  • Previous Sale Recording Date: Dec 29, 2016
  • Previous Sale Contract Date: Apr 13, 2016
  • Previous Sale Document Type: 27
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 Wabasso Beach

Stats & Trends

Median Asking:

$879,000

Sale Price/ft²

$450

Below Asking

0.02%

Average Days on Market

104

Average Home Size

2300 ft²

Average Home Age

25.4 years

Currently For Sale

40 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 8012 Us Highway 1, Vero Beach, FL, 32967

$2,150 /mo

  • 2 Beds
  • 2 Baths
  • 1,026 ft²
8012 Us Highway 1, Vero Beach, FL, 32967 Listing by Jaime Aguilar

Rentals Near You

Click here to view more rentals in the neighborhood.
RAIRC

Listed by: Stacey Lynn Morabito, Dale Sorensen Real Estate Inc.
Last Updated: 2 years ago
Data Source: RAIRC, MLS# 283307
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 1509 Orchid Drive built and last sold?
The property at 1509 Orchid Drive was built in 1988 and last sold on Nov 29, 2016 for $310,000.
How much is this home worth?
The estimated value of the home located at 1509 Orchid Drive is $0.
What are some comparable homes to 1509 Orchid Drive?
There are currently no comparable homes to 1509 Orchid Drive.
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