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Indian River 32967
5151 Formosa Circle
$489,000
● House - Off Market

5151 Formosa Circle

Vero Beach, FL 32967
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,983 Ft²
$3,378
Est. Monthly
$476
HOA / Fees
2.28%
Cap Rate

About This Property

Beautifully updated 3BR/2.5BA home in the Isles at Waterway Village with peaceful water and preserve views. Features impact windows/doors, crown molding, custom built-ins, and a stylish kitchen with quartz counters and stainless appliances. Spacious primary suite offers a walk-in closet/safe room. Enjoy serene mornings overlooking protected wetlands. Gated community with sidewalks, resort-style pool, fitness center, tennis, and pickleball. Impeccably maintained and move-in ready in a prime Vero Beach location!
Unit Size
1,983 Ft²
Days on Market
348 days
Land Size
0.16 acres
Price per sqft
$252
Property Type
House
Property Taxes
$451
HOA Dues
$476
Year Built
2011

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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: 5 months ago (Indian River #288101)

Price History

Date / Event Date Event Price
Apr 28, 2026 Sold
Premium
Sold
Mar 29, 2026 In contract -
In contract
Mar 5, 2026 Price Decreased $499,000
↓ $66K (11.7%)
Price Decreased
Jan 20, 2026 Price Decreased $565,000
↓ $14K (2.4%)
Price Decreased
Dec 31, 2025 Price Decreased $578,900
↓ $1K (0.2%)
Price Decreased
Show More

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 2011
  • Effective Year Built: 2011
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 10
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 12
  • Building Style: 25
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 8
  • Roof Cover Type: 18
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 11
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 5
  • Garage Type: 1
  • Garage Square Area: 463
  • Parking Space Count: 2
  • Patio Type: 11
  • Porch Type: 111
  • Pool Type: 8
  • Location Influence Type: 71

    Dimensions

  • Lot Size Square Feet: 6,970
  • Lot Size Depth Feet: 1,350
  • Lot Size Frontage Feet: 632
  • Total Building Area: 2,446
  • Gross Building Area: 2,644
  • Building Area: 1,983
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,983
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ISLES AT WATERWAY VILLAGE PD PLAT 1C REP
  • Land Acres: 0000000160
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: ISLES OF WATERWAY VILLAGE RE NO 1C LOT 360A PBI 25-16

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050811

Zoning

  • Zoning: PD

Geography

  • Parcel: 32-39-21-00011-0000-00360.0
  • Lot: 360A
  • Meridian: SEC 21 TWN 32S RNG 39E
  • Municipality: UNINCORPORATED
  • Latitude: 27.688
  • Longitude: -80.4391

    Address

  • Full Address: 5151 Formosa Cir
  • Address - House Number: 5151
  • Address - Street Name: Formosa
  • Address - Suffix Type: Cir
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R052
  • 4-Digit Zip Code: 7646
  • Zip Code: 32967

Valuation

    Tax

  • Total Area: 2,316
  • Tax Year: 2022
  • Tax Amount: $455,083
  • Tax Rate Code Area: 7

    Appraisal Valuation

  • Standard Deviation: 0.1883
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 75
  • Final Value: 577,038
  • High Value: 685,710
  • Low Value: 468,367

    Market Valuation

  • Market Total Value: $391,924
  • Market Land Value: $68,000
  • Market Improvement Value: $323,924

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $362,258

    Sales

  • Current Sale Contract Date: Mar 24, 2022
  • Current Sale Recording Date: May 04, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 55
  • Current Sale Input Document Number: 28727
  • Previous Sale Recording Date: Nov 17, 2011
  • Previous Sale Contract Date: Nov 10, 2011
  • Previous Sale Amount: $263,300
  • 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

1956 ft²

Average Home Age

28.6 years

Currently For Sale

1638 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 4819 51st Court, Vero Beach, FL, 32967

$2,300 /mo

  • 3 Beds
  • 2 Baths
  • 1,701 ft²
4819 51st Court, Vero Beach, FL, 32967 Listing by Rhonda L Beasley

Rentals Near You

Click here to view more rentals in the neighborhood.
RAIRC

Listed by: Peter John Marini III, Keller Williams Realty of VB
Last Updated: 5 months ago
Data Source: RAIRC, MLS# 288101
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 5151 Formosa Circle built and last sold?
The property at 5151 Formosa Circle was built in 2011 and last sold on Mar 24, 2022 for $100,000.
How much is this home worth?
The estimated value of the home located at 5151 Formosa Circle is $0.
What are some comparable homes to 5151 Formosa Circle?
There are currently no comparable homes to 5151 Formosa Circle.
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