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Indian River 32968
585 Gull Wing Drive
$695,000
● House - Off Market

585 Gull Wing Drive

Vero Beach, FL 32968
bedrooms
5 Beds
bathrooms
3 Baths
square feet
2,456 Ft²
$3,823
Est. Monthly
$125
HOA / Fees
5.42%
Cap Rate

About This Property

LIVE YOUR DREAM LIFE IN VERO'S PREMIERE FLY-IN COMMUNITY. THIS 1.17 ACRE CUL-DE-SAC EMBRACES THIS BEAUTIFULLY MAINTAINED 5/3 ESTATE HOME SITUATED ON THE TAXIWAY. OPEN CONCEPT W/VAULTED CEILINGS, TILE ON DIAGONAL, FIREPLACE ALL W/ MASTER BEDROOM ON FIRST FLOOR. ENJOY YOUR RV, BOAT & AIRPLANE ALL IN YOUR OWN BACKYARD 1584 SQ. FT. HANGAR. OUTDOOR ENTERTAINMENT AT ITS' BEST IN YOUR 2024 UPGRADED RESURFACED AND TILED POOL WITH EXPANSIVE LAKEVIEW. HIGHLY SOUGHT-AFTER COMMUNITY W/ 2600 FT. LONG X 150 FT. WIDE GRASS STRIP WITH OVERRUN.
Unit Size
2,456 Ft²
Days on Market
51 days
Land Size
1.17 acres
Price per sqft
$283
Property Type
House
Property Taxes
$285
HOA Dues
$125
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 #281025)

Price History

Date / Event Date Event Price
Oct 24, 2024 Sold
Premium
Sold
Sep 3, 2024 Listed by RE/MAX Crown Realty VB $695,000
Listed by RE/MAX Crown Realty VB
May 16, 2002 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: 5
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 6
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 17
  • Building Style: 25
  • Exterior Walls Type: 17
  • 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: 5
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 11
  • Porch Type: 102
  • Pool Type: 8
  • Location Influence Type: 131

    Dimensions

  • Lot Size Square Feet: 50,965
  • Lot Size Depth Feet: 2,522
  • Lot Size Frontage Feet: 1,715
  • Total Building Area: 2,456
  • Gross Building Area: 2,456
  • Building Area: 2,456
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,456
  • 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: 0000001170
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: INDIAN RIVER AERODROME NO 3 LOT 51 PBI 12-45

Neighborhood

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

Zoning

  • Zoning: AIR-1

Geography

  • Parcel: 33-38-23-00004-0000-00051.0
  • Lot: 51
  • Meridian: SEC 23 TWN 33S RNG 38E
  • Municipality: UNINCORPORATED
  • Latitude: 27.5939
  • Longitude: -80.4979

    Address

  • Full Address: 585 Gull Wing Dr
  • Address - House Number: 585
  • Address - Street Name: Gull Wing
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R013
  • 4-Digit Zip Code: 9643
  • Zip Code: 32968

Valuation

    Tax

  • Total Area: 2,589
  • Tax Year: 2022
  • Tax Amount: $332,463
  • Tax Rate Code Area: 7

    Appraisal Valuation

  • Standard Deviation: 0.2061
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 72
  • Final Value: 702,700
  • High Value: 847,582
  • Low Value: 557,819

    Market Valuation

  • Market Total Value: $387,343
  • Market Land Value: $76,086
  • Market Improvement Value: $311,257

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $262,775

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 15, 2002
  • Current Sale Recording Date: May 16, 2002
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: FIX
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:

$389,900

Sale Price/ft²

$230

Below Asking

0.03%

Average Days on Market

86

Average Home Size

1972 ft²

Average Home Age

28.2 years

Currently For Sale

1502 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

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RAIRC

Listed by: Sherri Lynn Sproch, RE/MAX Crown Realty VB
Last Updated: 2 years ago
Data Source: RAIRC, MLS# 281025
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 585 Gull Wing Drive built and last sold?
The property at 585 Gull Wing Drive was built in 1988 and last sold on May 15, 2002 for $299,000.
How much is this home worth?
The estimated value of the home located at 585 Gull Wing Drive is $701,950.
What are some comparable homes to 585 Gull Wing Drive?
There are currently no comparable homes to 585 Gull Wing Drive.
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