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South Beach 32963
650 Reef Road
$2,808,334
● House - Off Market

650 Reef Road

Vero Beach, FL 32963
bedrooms
4 Beds
bathrooms
4 Baths, 1 Half Bath
$6,237,962
RealtyHop Estimate
94.94%
Since Jan 1, 2014
National-US
Primary Model

About This Property

OCEANFRONT - This beautiful oceanfront property is over 1 acre with approximately 195 feet of oceanfrontage. This is the first time this property has been on the market! Property does have sea wall. Breath taking views from every room and Beautiful wide beaches. This estate is priced at lot value only!
Unit Size
-
Days on Market
265 days
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$2,495
HOA Dues
-
Year Built
2021

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 #135790)

Price History

Date / Event Date Event Price
Aug 31, 2017 Sold
Premium
Sold
Apr 28, 2014 Sold
Premium
Sold
Dec 2, 2013 Sold
Premium
Sold
Mar 12, 2013 Listed by Dale Sorensen Real Estate Inc. $3,200,000
Listed by Dale Sorensen Real Estate Inc.

Property Highlights

Air Conditioning
Garage

Building Info

Overview

    General

  • Year Built: 2021
  • Effective Year Built: 2021
  • Building Count: 1
  • Total Rooms: 12
  • Bedroom Count: 6
  • Bathroom Count: 6
  • Full Bathrooms: 6
  • Partial Bathrooms: 6
  • Bathroom Plumbing Fixtures: 25
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 7
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 4
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 1,397
  • Parking Space Count: 3
  • Patio Type: 12
  • Porch Type: 111
  • Pool Type: 8
  • Location Influence Type: 132

    Dimensions

  • Lot Size Square Feet: 45,302
  • Lot Size Depth Feet: 3,504
  • Lot Size Frontage Feet: 999
  • Total Building Area: 9,943
  • Gross Building Area: 10,323
  • Building Area: 8,546
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 8,546
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: NULL
  • Land Acres: 0000001040
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 07
  • Legal Description 1: THE N 98.00 OF THE S 508.00 FT OF GOVT LOT 1, LYING E OF REEF RD

Neighborhood

  • School District Name: Indian River County School District
  • Census Tract: 050509

Zoning

  • Zoning: RS-3

Geography

  • Parcel: 33-40-22-00000-0010-00009.0
  • Lot: 1
  • Meridian: SEC 22 TWN 33S RNG 40E
  • Municipality: UNINCORPORATED
  • Latitude: 27.5911
  • Longitude: -80.3302

    Address

  • Full Address: 650 Reef Rd
  • Address - House Number: 650
  • Address - Street Name: Reef
  • Address - Suffix Type: Rd
  • State: FL
  • City Name: Vero Beach
  • Carrier Code: R002
  • 4-Digit Zip Code: 2803
  • Zip Code: 32963

Valuation

    Tax

  • Total Area: 3,119
  • Tax Year: 2022
  • Tax Amount: $10,383,001
  • Tax Rate Code Area: 7

    Market Valuation

  • Market Total Value: $7,431,182
  • Market Land Value: $2,132,225
  • Market Improvement Value: $5,298,957

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $7,431,182
  • Assessed Land Value: $2,132,225
  • Assessed Improvements Value: $5,298,957

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Aug 31, 2017
  • Current Sale Recording Date: Aug 31, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3120170051168
  • Previous Sale Recording Date: Apr 28, 2014
  • Previous Sale Contract Date: Apr 25, 2014
  • Previous Sale Amount: $1,700,000
  • 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 South Beach

Stats & Trends

Median Asking:

$985,000

Sale Price/ft²

$471

Below Asking

0.03%

Average Days on Market

100

Average Home Size

2704 ft²

Average Home Age

40 years

Currently For Sale

62 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 300 Harbour Drive, Vero Beach, FL, 32963

$10,000 /mo

  • 2 Beds
  • 2 Baths
  • 2,100 ft²
300 Harbour Drive #106B, Vero Beach, FL, 32963 Listing by Marsha M Sherry
Unit for rent at 1815 Mooringline Drive, Vero Beach, FL, 32963

$3,200 /mo

  • 2 Beds
  • 2 Baths
  • 1,880 ft²
1815 Mooringline Drive #2E, Vero Beach, FL, 32963 Listing by Abigail Vollmann

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# 135790
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 650 Reef Road built and last sold?
The property at 650 Reef Road was built in 2021 and last sold on Aug 31, 2017 for $1,925,000.
How much is this home worth?
The estimated value of the home located at 650 Reef Road is $0.
What are some comparable homes to 650 Reef Road?
There are currently no comparable homes to 650 Reef Road.
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