909 Vireo Drive
About This Property
2BR/2BA manufactured home, 828 SF, on an OWNED 5,227 SF lot -- no lot rent (just $62/mo HOA). Built 1977, metal roof, central HVAC, carport, screened patio. Established Barefoot Bay community near the Sebastian/Micco line, minutes from the Indian River Lagoon and a short drive to Vero/Melbourne beaches.
Light-rehab project priced for investors. Home is dated and needs a full cosmetic + systems reno. Recent inspection available: roof at end of life, Federal Pacific (Stab-Lok) panel, polybutylene plumbing, HVAC at end of life, water heater corrosion, flooring/interior, and siding/skirting. Utilities were off at inspection -- budget mechanicals as replacements.
The numbers: low entry basis. Renovated comps $120K-$167K; market rent ~$1,500/mo. Strong fit for buy-and-hold rental or value-add resale in a community with steady demand.
Full inspection in docs.
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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%.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 26, 2026 | Sold | ||
| Sold | |||
| Aug 25, 2026 | In contract | - | |
| In contract | |||
| Aug 13, 2026 | Price Decreased |
$69,900
↓ $5K
(6.7%) | |
| Price Decreased | |||
| Jul 26, 2026 | Relisted | $74,900 | |
| Relisted | |||
| Jul 13, 2026 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017