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Vero Beach 32963
638 Banyan Road
$2,100,000
● House - Off Market

638 Banyan Road

Vero Beach, FL 32963
bedrooms
5 Beds
bathrooms
5 Baths, 1 Half Bath
square feet
3,979 Ft²
$13,385
Est. Monthly
1.05%
Cap Rate

About This Property

This stunning 2013 Custom Built residence in prime central beach boasts 5 bedrooms and 4.5 luxurious bathrooms. Open concept living w/ island kitchen + breakfast nook. Downstairs primary bedroom + guest suite w/ front and back stairs to second level. Step outside to your private oasis w/ extra large saltwater heated pool surrounded by lush landscaping & oak trees. Freshly painted, 2024 HVAC/HWH & hardwood flooring. Located a short walk to the beach, restaurants & all things Ocean Drive! Sizes are approx./subject to change
Unit Size
3,979 Ft²
Days on Market
40 days
Land Size
-
Price per sqft
$616
Property Type
House
Property Taxes
$1,355
HOA Dues
-
Year Built
2013

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 #281862)

Price History

Date / Event Date Event Price
Nov 12, 2024 Sold
Premium
Sold
Oct 25, 2024 In contract -
In contract
Oct 3, 2024 Listed by Dale Sorensen Real Estate Inc. $2,450,000
Listed by Dale Sorensen Real Estate Inc.
Oct 6, 2021 No longer available -
No longer available
Jul 2, 2020 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2013
  • Effective Year Built: 2013
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Bathroom Plumbing Fixtures: 16
  • 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: 14
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 11
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 1
  • Garage Square Area: 600
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 102
  • Pool Type: 8
  • Location Influence Type: 131

    Dimensions

  • Lot Size Square Feet: 13,939
  • Lot Size Depth Feet: 1,400
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 4,579
  • Gross Building Area: 4,579
  • Building Area: 3,979
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 3,979
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VERO BEACH ESTATES
  • Land Acres: 0000000320
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: VERO BEACH ESTATES BLK 12 LOTS 18 & 19 PBS 5-8

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050505

Zoning

  • Zoning: R-1A

Geography

  • Parcel: 32-40-32-00006-0120-00018.0
  • Block: 12
  • Lot: 18,19
  • Meridian: SEC 32 TWN 32S RNG 40E
  • Municipality: CITY OF VERO BEACH
  • Latitude: 27.6549
  • Longitude: -80.3616

    Address

  • Full Address: 638 Banyan Rd
  • Address - House Number: 638
  • Address - Street Name: Banyan
  • Address - Suffix Type: Rd
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: C005
  • 4-Digit Zip Code: 1729
  • Zip Code: 32963

Valuation

    Tax

  • Total Area: 4,069
  • Tax Year: 2022
  • Tax Amount: $1,580,552
  • Tax Rate Code Area: 8

    Appraisal Valuation

  • Standard Deviation: 0.2129
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 71
  • Final Value: 2,125,975
  • High Value: 2,578,617
  • Low Value: 1,673,334

    Market Valuation

  • Market Total Value: $1,178,341
  • Market Land Value: $433,500
  • Market Improvement Value: $744,841

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $1,045,441

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jun 29, 2020
  • Current Sale Recording Date: Jul 02, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3120200037469
  • Previous Sale Recording Date: Jul 29, 2016
  • Previous Sale Contract Date: Jul 29, 2016
  • Previous Sale Amount: $1,000,000
  • 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 Vero Beach

Stats & Trends

Median Asking:

$499,700

Sale Price/ft²

$334

Below Asking

0.04%

Average Days on Market

94

Average Home Size

1955 ft²

Average Home Age

47.2 years

Currently For Sale

209 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 1461 5th Avenue, Vero Beach, FL, 32960

$3,375 /mo

  • 2 Beds
  • 1 Bath
  • 1,050 ft²
1461 5th Avenue, Vero Beach, FL, 32960 Listing by Mark Roberto

Rentals Near You

Click here to view more rentals in the neighborhood.
RAIRC

Listed by: Marni E Howder, Dale Sorensen Real Estate Inc.
Last Updated: 2 years ago
Data Source: RAIRC, MLS# 281862
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 638 Banyan Road built and last sold?
The property at 638 Banyan Road was built in 2013 and last sold on Jun 29, 2020 for $1,250,000.
How much is this home worth?
The estimated value of the home located at 638 Banyan Road is $0.
What are some comparable homes to 638 Banyan Road?
There are currently no comparable homes to 638 Banyan Road.
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