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Indian River 32968
505 Wright Circle
$650,000
● House - Off Market

505 Wright Circle

Vero Beach, FL 32968
bedrooms
5 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,537 Ft²
$3,817
Est. Monthly
$113
HOA / Fees

About This Property

Join the Indian River County growth corridor by investing in your own community private airstrip home. Your aviation dream home is a 2 story Concrete block/stucco w/2nd story frame home w/5 bedrooms 3.5 baths and a fully functioning in-law quarters offering an updated designed for modern living w/an open concept living, dining & kitchen area creating space that is both inviting & works w/natural lighting providing a vibrant atmosphere. Experience the freedom to fly w/your private 50X50 2,500sqft red iron commercial airplane hanger featuring 16ft high vaulted ceilings. Extraordinary opportunity
Unit Size
2,537 Ft²
Days on Market
124 days
Land Size
0.98 acres
Price per sqft
$276
Property Type
House
Property Taxes
$272
HOA Dues
$113
Year Built
1998

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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: 6 months ago (Beaches MLS #R10954264)

Price History

Date / Event Date Event Price
May 30, 2024 Sold
Premium
Sold
Jan 26, 2024 Listed by Coldwell Banker Paradise $699,000
Listed by Coldwell Banker Paradise
Sep 15, 2008 Sold
Premium
Sold
Jan 30, 1997 Sold
Premium
Sold

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1998
  • Effective Year Built: 1998
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 10
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 12
  • Building Style: 25
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 1
  • Roof Cover Type: 14
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 11
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 12
  • Porch Type: 111
  • Pool Type: 0
  • Location Influence Type: 82

    Dimensions

  • Lot Size Square Feet: 42,689
  • Lot Size Depth Feet: 2,511
  • Lot Size Frontage Feet: 1,872
  • Total Building Area: 2,537
  • Gross Building Area: 2,671
  • Building Area: 2,537
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,537
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: INDIAN RIVER AERODROME NO 3
  • Land Acres: 0000000980
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: INDIAN RIVER AERODROME NO 3 LOT 41 PBI 12-45

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050905

Zoning

  • Zoning: AIR-1

Geography

  • Parcel: 33-38-23-00004-0000-00041.0
  • Lot: 41
  • Meridian: SEC 23 TWN 33S RNG 38E
  • Municipality: UNINCORPORATED
  • Latitude: 27.5949
  • Longitude: -80.5029

    Address

  • Full Address: 505 Wright Cir
  • Address - House Number: 505
  • Address - Street Name: Wright
  • Address - Suffix Type: Cir
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R013
  • 4-Digit Zip Code: 9644
  • Zip Code: 32968

Valuation

    Tax

  • Total Area: 2,196
  • Tax Year: 2022
  • Tax Amount: $330,596
  • Tax Rate Code Area: 7

    Appraisal Valuation

  • Standard Deviation: 0.1862
  • Valuation Date: Jan 27, 2024
  • Confidence Score: 75
  • Final Value: 654,645
  • High Value: 776,579
  • Low Value: 532,711

    Market Valuation

  • Market Total Value: $374,790
  • Market Land Value: $83,070
  • Market Improvement Value: $291,720

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $262,978

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Sep 03, 2008
  • Current Sale Recording Date: Sep 15, 2008
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 1947070
  • Previous Sale Recording Date: Jan 30, 1997
  • Previous Sale Contract Date: Jan 24, 1997
  • Previous Sale Amount: $38,800
  • Previous Sale Document Type: 71
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 Indian River

Stats & Trends

Median Asking:

$390,000

Sale Price/ft²

$230

Below Asking

0.03%

Average Days on Market

85

Average Home Size

1957 ft²

Average Home Age

28.6 years

Currently For Sale

1642 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

Rentals Near You

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BEACHES

Listed by: J Vance Brinkerhoff
Coldwell Banker Paradise
Last Updated: 6 months ago
Data Source: Beaches MLS, MLS# R10954264
All listings featuring the BMLS logo are provided by Beaches MLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2026 Beaches Multiple Listing Service, Inc. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker's offer of compensation is made to participants of BeachesMLS, where the listing is filed, as well as participants of MLSs participating in MLSAdvantage or a data share with BeachesMLS.

Frequently Asked Questions

When was property at 505 Wright Circle built and last sold?
The property at 505 Wright Circle was built in 1998 and last sold on Sep 3, 2008 for $290,000.
How much is this home worth?
The estimated value of the home located at 505 Wright Circle is $0.
What are some comparable homes to 505 Wright Circle?
There are currently no comparable homes to 505 Wright Circle.
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