RS-3 zoned residential parcel in a high-growth corridor of unincorporated Indian River County. No rezoning required — 10–12 single-family lots by right. Flat topography, minimal environmental constraints, and proximity to the $95M Oslo Road/I-95 interchange project (~2028).
Recommended list price of ~$200,000/acre is anchored by the development residual approach. Meaningfully below the owner's current FSBO ask of $1,100,000 and above what income capitalization alone supports — positioned to attract developers at market while generating maximum net proceeds.
Existing duplex generates $3,600/month in immediate rental income to offset holding costs during entitlement and planning. Upside via full site redevelopment or addition of 2–3 more duplex structures under RS-3 by right — enhancing appeal to value-add investors as well as builders.
| Property Specifications | |
|---|---|
| Address | 6310 41st Street, Vero Beach, FL 32967 |
| Parcel ID | 32392900001022000003.1 |
| Zoning | RS-3 · Single-Family Residential · 3 units/gross acre |
| Total Site Area | 4.75 acres (206,910 SF) |
| Theoretical Max | 14 lots (4.75 × 3 = 14.25) |
| Practical Lot Yield | 10–12 lots (after 25–30% infra deduction) |
| Min Lot Size | 12,000 SF · Min Lot Width: 80 feet |
| Assessed Value (2025) | $496,982 (Land: $302,813) |
| Annual Taxes | $7,362.20 |
| Last Sale | July 2, 2021 · $325,000 |
| Current FSBO Ask | $1,100,000 (above market support) |
| Rental Income | $3,600/month (existing duplex) |
The property is improved with a 1983-vintage, 1,408 SF CBS/stucco farmhouse (new roof, impact windows), an income-producing duplex, and a 6-stall horse barn with equestrian facilities. All improvements provide interim holding income during development planning and may be retained or redeveloped.
1,408 SF CBS/stucco, 1983 vintage. New roof and impact windows installed — turnkey condition.
Generating $3,600/month in current rental income — immediate cash flow to offset carry costs.
6-stall barn with equestrian facilities. Broadens buyer appeal to rural lifestyle and equestrian buyers.
Minimal grading or site prep required — reduces subdivision cost and accelerates development timeline.
$95M FDOT interchange upgrade (~2028) enhances long-term access and drives surrounding development.
DiVosta, GHO, Lennar, and Maronda all active within 2–5 miles — proven demand corridor for raw land.
| RS-3 Development Standards | |
|---|---|
| Max Density | 3 units/gross acre |
| Min Lot Size | 12,000 SF (0.275 ac) |
| Min Lot Width | 80 feet |
| Max Height | 35 feet |
| Front Setback | 25 feet |
| Side Setback | 15 feet each |
| Rear Setback | 25 feet |
| Max Lot Coverage | 30% |
| Min Open Space | 40% |
| Lot Yield Analysis | |
|---|---|
| Gross Site Area | 4.75 acres |
| Theoretical Maximum | 14 lots (4.75 × 3) |
| Infrastructure Deduction | ~25–30% (roads, stormwater, open space) |
| Net Developable | 3.3–3.6 acres |
| Practical Lot Yield | 10–12 lots |
| Average Lot Size | 12,000–15,000 SF |
| Average Lot Width | 80+ feet |
| Typical Home Size | 1,800–2,500 SF |
| Rezoning Required? | No — RS-3 by right |
A rezoning or PD application could increase density but requires county approval and is not guaranteed. This analysis is based on current RS-3 by-right entitlements only.
| Fee Category | Under 1,500 SF | 1,501–2,499 SF | 2,500+ SF |
|---|---|---|---|
| Transportation | $5,942 | $6,632 | $7,553 |
| Educational Facilities | $1,310 | $1,310 | $1,310 |
| Parks & Recreation | $679 | $819 | $918 |
| Public Buildings | $345 | $415 | $465 |
| Fire/Emergency Services | $231 | $278 | $312 |
| Law Enforcement | $162 | $196 | $219 |
| Admin Fee (2%) | $173 | $193 | $216 |
| Total Per Unit | $8,842 | $9,843 | $10,993 |
| Total (10 Lots @ 1,501–2,499 SF) | $98,430 | ||
| Metric | Value |
|---|---|
| Median Sale Price | $399,000–$424,000 |
| Average Home Value | $402,745–$418,134 |
| Price Per SF | $225 (median) |
| YOY Trend | Down 2.9%–5.6% |
| Days on Market | 98–101 days |
| New Home Avg (32967) | $407,187 |
| New Home Range | $292,990–$1,000,000+ |
| Market Conditions | Balanced to buyer-favorable |
"We are optimistic for a strong 2025 in the Indian River market due to low supply, favorable demographic trends, and the great quality of life that the Vero Beach area offers." — PulteGroup Division President
| Cost Category | Estimated Range |
|---|---|
| Demolition of Existing Improvements | $25,000–$40,000 |
| Civil Engineering & Survey | $50,000–$75,000 |
| Site Clearing & Grading | $30,000–$50,000 |
| Road Construction (Internal) | $200,000–$325,000 |
| Stormwater Management | $100,000–$175,000 |
| Water & Sewer Infrastructure | $135,000–$225,000 |
| Electric / Utility Extensions | $45,000–$65,000 |
| Impact Fees (10 × $9,843) | $98,430 |
| Permits & Entitlements | $30,000–$60,000 |
| Soft Costs (Legal, Financing, Contingency) | $90,000–$150,000 |
| Total Development Costs | $775,000–$1,165,000 |
| Per-Lot Development Cost | $77,500–$116,500 |
| Line Item | Amount |
|---|---|
| New Home Sale Price (avg) | $475,000 |
| Less: Construction (2,000 SF × $175) | ($350,000) |
| Less: Impact Fees & Permits | ($15,000) |
| Less: Builder Profit (18%) | ($85,500) |
| Less: Marketing & Closing (5%) | ($23,750) |
| Residual for Finished Lot | $750 (stress test) |
| Finished Lot Market Value (comps) | $100,000–$150,000 |
| Less: Per-Lot Development Cost | $77,500–$116,500 |
| Raw Land Value Per Lot | $22,300–$72,500 |
| Raw Land Value (10 Lots) | $222,500–$725,000 |
The residual analysis confirms that $950,000 requires finished lot values of $120,000+ to pencil at 10 lots — supported by Emerson Oaks comparables and the IRC finished lot average of $151,000. At 12 lots, economics improve meaningfully and support the recommended list price.
Verified residential land transactions in Indian River County (2024), sourced from the Saunders Real Estate 2024 Florida Lay of the Land Market Report. All represent arm's-length sales of parcels with residential development potential.
| Sale Date | Location | Acres | Sale Price | $/Upland Acre |
|---|---|---|---|---|
| Mar 2024 | Fellsmere | 33 | $3,400,000 | $106,250 |
| May 2024 | Vero Beach | 72 | $2,000,000 | $27,701 |
| Oct 2024 | Vero Beach | 19 | $2,250,000 | $117,986 |
| Mar 2024 | Vero Beach | 47 | $4,250,000 | $90,754 |
| Mar 2024 | Vero Beach | 48 | $4,300,000 | $130,303 |
| Dec 2024 | Vero Beach | 39 | $1,365,000 | $34,946 |
| Dec 2024 | Vero Beach | 39 | $4,270,000 | $108,211 |
| Mar 2024 | Vero Beach | 15 | $650,000 | $43,218 |
DiVosta (PulteGroup) purchased 83 acres on 43rd Avenue — approximately 2 miles south of the subject — for $7,000,000 ($84,337/acre). DiVosta plans 171 single-family homes priced from the high $400s to $800,000. This transaction establishes a strong benchmark for large-scale residential development land in the immediate area. The subject's smaller scale (4.75 vs. 83 acres) supports a meaningful per-acre premium — consistent with the recommended $200,000/acre list price.
Benchmarked against verified 2024 IRC residential land transactions. IRC avg ($175,794/ac × 4.75) = $835K. DiVosta benchmark ($184,337/ac × 4.75) = $875K. 6145 45th St nearby asking = $879K. 15% small-parcel premium: $862K. Indicated range: $760,000–$962,000.
Based on existing duplex generating $3,600/month ($43,200/yr). NOI after vacancy & expenses: ~$26,700. Capitalized at 6.0% = $445,000; at 8.0% = $334,000. This approach understates value — it ignores development potential and is used as a floor/sanity check.
Works backward from finished home sale prices and estimated subdivision development costs. Conservative 10-lot midpoint: ~$850,000. Full range at 10-lot scenario: $622,500–$925,000. Best reflects highest-and-best-use as a residential subdivision site.
Recommended List Price
~$200,000/acre · Expected contract range: $850,000–$950,000 · Timeline to contract: 60–120 days. Anchored by the development residual approach, supported by comparable sales, and positioned with negotiating room while generating a net outcome well above the 2021 purchase price of $325,000.
Urgency price. Attracts immediate developer interest. Fastest path to contract — ideal if timing is the priority.
Best balance of price and timeline. Supported by all three valuation approaches. Positioned to attract developer buyers at a defensible price.
Tests the upper range. May limit buyer pool. Provides negotiating room but risks longer carry — viable if timeline flexibility exists.
| Sale Price | Commission (8%) | Net to Seller | vs. 2021 Purchase ($325K) |
|---|---|---|---|
| $800,000 | $64,000 | $736,000 | +$411,000 (+126%) |
| $850,000 | $68,000 | $782,000 | +$457,000 (+141%) |
| $900,000 | $72,000 | $828,000 | +$503,000 (+155%) |
| $950,000 ★ Rec. | $76,000 | $874,000 | +$549,000 (+169%) |
| $1,000,000 | $80,000 | $920,000 | +$595,000 (+183%) |
GoCommercial covers the full cost of all marketing and deliverables. There are no upfront fees, retainers, or reimbursements of any kind. Our commission is earned only upon a successful closing.
| Professional photography (aerial drone + site views) |
| Boundary/topographic survey overlay + conceptual site plan |
| Development feasibility package with zoning + lot yield analysis |
| Investor-grade underwriting model with development cost pro forma |
| Offering Memorandum + one-page land teaser |
| Pricing justification package for buyers and co-brokers |
| LoopNet premium + CoStar marketing placement |
| Crexi featured placement + key land marketplace syndication |
| GoCommercial.com featured listing with full development narrative |
| Direct outreach to DiVosta, Lennar, GHO, Maronda & active IRC builders |
| Land investor database + 1031 exchange buyer targeting |
| Compass National Network: 30,000+ agents across all 50 states |
Listing agreement, professional photos, drone aerials, development package & OM preparation.
All platforms live, targeted outreach begins to builders, developers & land investors. Paid advertising activated.
Tours, follow-up, weekly reporting on inquiries, feedback & pricing sentiment. Direct builder outreach.
Offer review, terms negotiation, contract execution, due diligence & closing coordination.
GoCommercial is ready to execute immediately. Let's position 6310 41st Street for a successful sale at maximum value.
GoCommercial Group at Compass · www.GoCommercial.com