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Vero Beach 32963
641 Lake Drive
$1,650,000
● House - Off Market

641 Lake Drive

Vero Beach, FL 32963
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
$3,584,364
RealtyHop Estimate
88.65%
Since May 1, 2014
National-US
Primary Model

About This Property

Amazing unobstructed river views! Beautiful 3BR/3.5BA riverfront home w/dock in gated Riomar Bay. High ceilings, architectural details & custom built-ins. Spacious living room w/fireplace overlooking pool & river. Kitchen w/granite, center island, & breakfast nook opens to huge family room w/wood ceiling. Master w/double walk-in closets. Size/dim. approx./subj. to error.
Unit Size
-
Days on Market
564 days
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$2,078
HOA Dues
$3,076
Year Built
1993

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: 11 months ago (Indian River #131289)

Price History

Date / Event Date Event Price
Apr 14, 2014 Sold
Premium
Sold
Sep 27, 2012 Listed by Dale Sorensen Real Estate Inc. $1,900,000
Listed by Dale Sorensen Real Estate Inc.

Property Highlights

Air Conditioning
Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1993
  • Effective Year Built: 1993
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Bathroom Plumbing Fixtures: 14
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 8
  • Roof Cover Type: 5
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 5
  • Garage Type: 1
  • Garage Square Area: 827
  • Parking Space Count: 3
  • Patio Type: 79
  • Porch Type: 102
  • Pool Type: 8
  • Location Influence Type: 198

    Dimensions

  • Lot Size Square Feet: 24,394
  • Lot Size Depth Feet: 1,742
  • Lot Size Frontage Feet: 1,548
  • Total Building Area: 4,611
  • Gross Building Area: 4,611
  • Building Area: 3,784
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 3,784
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RIOMAR BAY UNIT TWO
  • Land Acres: 0000000560
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 01
  • Legal Description 1: RIOMAR BAY UNIT TWO LOT 11 & 11 A PBI 11-65

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050504

Zoning

  • Zoning: R-1AA

Geography

  • Parcel: 33-40-05-00027-0000-00011.0
  • Lot: 11
  • Meridian: SEC 05 TWN 33S RNG 40E
  • Municipality: CITY OF VERO BEACH
  • Latitude: 27.6378
  • Longitude: -80.3623

    Address

  • Full Address: 641 Lake Dr
  • Legal Unit: TW
  • Address - House Number: 641
  • Address - Street Name: Lake
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: C016
  • 4-Digit Zip Code: 2166
  • Zip Code: 32963

Valuation

    Tax

  • Total Area: 4,332
  • Tax Year: 2022
  • Tax Amount: $2,722,255
  • Tax Rate Code Area: 8

    Appraisal Valuation

  • Standard Deviation: 0.1883
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 75
  • Final Value: 3,379,821
  • High Value: 4,016,331
  • Low Value: 2,743,312

    Market Valuation

  • Market Total Value: $2,403,078
  • Market Land Value: $1,487,500
  • Market Improvement Value: $915,578

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $1,778,240

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 14, 2014
  • Current Sale Recording Date: Apr 14, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3120140021222
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

1935 ft²

Average Home Age

47.6 years

Currently For Sale

207 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 476 19th Place, Vero Beach, FL, 32960

$2,900 /mo

  • 3 Beds
  • 3 Baths
  • 1,614 ft²
476 19th Place, Vero Beach, FL, 32960 Listing by Katelyn M O'Neal
Unit for rent at 677 Royal Palm Boulevard, Vero Beach, FL, 32960

$1,550 /mo

  • 2 Beds
  • 2 Baths
  • 1,200 ft²
677 Royal Palm Boulevard #12, Vero Beach, FL, 32960 Listing by Roberto E Berlingieri
Unit for rent at 2800 Indian River Boulevard, FL, 32960

$2,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,000 ft²
2800 Indian River Boulevard #1, FL, 32960 Listing by Peter G Robinson

Rentals Near You

Click here to view more rentals in the neighborhood.
RAIRC

Listed by: Matilde Sorensen, Dale Sorensen Real Estate Inc.
Last Updated: 11 months ago
Data Source: RAIRC, MLS# 131289
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 641 Lake Drive built and last sold?
The property at 641 Lake Drive was built in 1993 and last sold on Apr 14, 2014 for $1,650,000.
How much is this home worth?
The estimated value of the home located at 641 Lake Drive is $0.
What are some comparable homes to 641 Lake Drive?
There are currently no comparable homes to 641 Lake Drive.
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