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Sebastian 32958
537 Ray Street
$430,000
● House - Off Market

537 Ray Street

Sebastian, FL 32958
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,938 Ft²
$2,623
Est. Monthly
4.32%
Cap Rate

About This Property

BACK ON MARKET. SALE FELL THROUGH & PRICE REDUCED. Dive into comfort with this stunning 3-bedroom, 2-bath pool home! Enjoy an open floor plan filled with natural light, a modern kitchen with S/S appliances, & a spacious living area perfect for entertaining. Step outside to your private backyard oasis featuring a sparkling pool, screened lanai & lush landscaping. The primary suite offers a walk-in-closet and a relaxing en-suite bath. Located near top schools, parks. and shopping. Don't miss this slice of paradise. Schedule your showing today.
Unit Size
1,938 Ft²
Days on Market
61 days
Land Size
0.23 acres
Price per sqft
$227
Property Type
House
Property Taxes
$462
HOA Dues
-
Year Built
2004

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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 (Space Coast MLS #1040447)

Price History

Date / Event Date Event Price
Aug 18, 2025 Sold
Premium
Sold
Jul 14, 2025 In contract -
In contract
Jul 9, 2025 Relisted $440,000
Relisted
Jul 2, 2025 Price Decreased $440,000
↓ $15K (3.3%)
Price Decreased
May 30, 2025 In contract -
In contract
Show More

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2004
  • Effective Year Built: 2004
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 8
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 12
  • Building Style: 25
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 8
  • Roof Cover Type: 14
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 11
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 1
  • Garage Square Area: 441
  • Parking Space Count: 2
  • Patio Type: 55
  • Porch Type: 111
  • Pool Type: 8
  • Location Influence Type: 131

    Dimensions

  • Lot Size Square Feet: 10,019
  • Lot Size Depth Feet: 1,250
  • Lot Size Frontage Feet: 800
  • Total Building Area: 2,379
  • Gross Building Area: 2,415
  • Building Area: 1,938
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,938
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SEBASTIAN HIGHLANDS UNIT 2
  • Land Acres: 0000000230
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: SEBASTIAN HIGHLANDS UNIT 02 BLK 94 LOT 10 PBI 5-35

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050807

Zoning

  • Zoning: RS-10

Geography

  • Parcel: 31-38-01-00003-0940-00010.0
  • Block: 94
  • Lot: 10
  • Meridian: SEC 01 TWN 31S RNG 38E
  • Municipality: CITY OF SEBASTIAN
  • Latitude: 27.7987
  • Longitude: -80.4919

    Address

  • Full Address: 537 Ray St
  • Legal Unit: 2
  • Address - House Number: 537
  • Address - Street Name: Ray
  • Address - Suffix Type: St
  • State: FL
  • City Name: Sebastian
  • Carrier Code: R028
  • 4-Digit Zip Code: 4245
  • Zip Code: 32958

Valuation

    Tax

  • Total Area: 2,290
  • Tax Year: 2022
  • Tax Amount: $493,174
  • Tax Rate Code Area: 2

    Appraisal Valuation

  • Standard Deviation: 0.1883
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 75
  • Final Value: 428,822
  • High Value: 509,581
  • Low Value: 348,063

    Market Valuation

  • Market Total Value: $294,120
  • Market Land Value: $28,220
  • Market Improvement Value: $265,900

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $294,120
  • Assessed Land Value: $28,220
  • Assessed Improvements Value: $265,900

    Sales

  • Current Sale Contract Date: Aug 19, 2021
  • Current Sale Recording Date: Aug 24, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3120210060142
  • Previous Sale Recording Date: Aug 10, 2015
  • Previous Sale Contract Date: Aug 07, 2015
  • Previous Sale Amount: $255,000
  • 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 Sebastian

Stats & Trends

Median Asking:

$375,000

Sale Price/ft²

$220

Below Asking

0.02%

Average Days on Market

72

Average Home Size

1755 ft²

Average Home Age

27.8 years

Currently For Sale

161 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 511 Biscayne Lane, Sebastian, FL, 32958

$2,150 /mo

  • 3 Beds
  • 2 Baths
  • 1,200 ft²
511 Biscayne Lane, Sebastian, FL, 32958 Listing by Jennifer M Penna

Rentals Near You

Click here to view more rentals in the neighborhood.
SpaceCoast

Listed by: Charlotte Kaye Bolton, RE/MAX Crown Realty
Last Updated: 2 years ago
Data Source: Space Coast MLS, MLS# 1040447
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 537 Ray Street built and last sold?
The property at 537 Ray Street was built in 2004 and last sold on Aug 19, 2021 for $370,000.
How much is this home worth?
The estimated value of the home located at 537 Ray Street is $443,932.
What are some comparable homes to 537 Ray Street?
There are currently no comparable homes to 537 Ray Street.
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