8745 51st Ter, Sebastian
Indian River County Real Estate - Wabasso
Wabasso is in South East Florida. It's population as recorded in the 2010 Census was 609. Wabasso is approximately 33 miles from Port Saint Lucie (population 164,603) and around 22 miles from Palm Bay (population 103,190).
The median age for residents of Wabasso is 52. Around 16.9% of Wabasso households include school aged children and 35.6% of households include individuals aged 65 years or over. Census records indicate 91.1% of the Wabasso population are White, 5.7% are Black or African American, .1% American Indian, .1% Asian and .6% are Two or more Races.
There are 379 housing units in Wabasso. 90 (23.7%) of these were reported as vacant in the 2010 Census. There are 123 residential rental units in Wabasso. 106 of them were occupied in 2010 providing a residential rental vacancy rate of 13.8%.
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Indian River County
Indian River County is part of the southeast region of Florida, along with St. Lucie, Miami-Dade, Palm Beach, Broward, Martin, and Monroe counties. Cities in Indian River County are Vero Beach (county seat), Sebastian, Fellsmere, Indian River Shores, and Orchid. The county?s population is over 135,000 people. Indian River is one of the wealthiest counties in the state and in the nation.
Indian River County has targeted clean energy, information technology, aviation/aerospace, and financial/professional services as its industries for expansion. Major private sector employers are Indian River Medical Center, Publix Supermarkets, Piper Aircraft Inc., Sebastian River Medical Center, and John's Island. Public sector employers are School District of Indian River County, Indian River County, City of Vero Beach, and City of Sebastian.
As with most counties along the treasure coast, tourism is a major industry. Agriculture also plays a large part in Indian River County's economy. Resources produced here include citrus, beef, and honey. Because so much of the economy revolves around agriculture, unemployment is often high in summer months.
The most populous city is Sebastian, home to 22,000. Sebastian Airport is headquarters for Velocity Aircraft. The city is also home to an Indian River State College campus.
Over 15,000 people live in Vero Beach, the seat of Indian River County. One of the largest employers in the county is Piper Aircraft, which maintains their general aviation production facility and headquarters in the city. Vero Beach is a tourist destination, known for golfing, fishing, and surfing. It also hosts a Disney resort.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 8735 51st Ter | Single Family | 958 | C |
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| 8755 51st Ter | Single Family | 1,679 | B |
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| 5384 87th St | Single Family | 1,228 | C |
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| 8765 51st Ter | Single Family | 2,530 | B |
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| 5250 87th St | Single Family | 1,560 | C |
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| 8759 51st Ter | Single Family | 609 | C |
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| 5130 87th St | Warehousing, distribution terminal, trucking terminal, or van and storage warehousing | 2,496 | C |
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| 8775 51st Ter | Single Family | 930 | C |
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| 5398 87th St | Auto sales, auto repair and storage or auto service shop | 2,124 | B |
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| 8746 51st Ter | Vacant Commercial | 0 | L | |
| 8736 51st Ter | Single Family | 668 | C |
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| 8706 51st Ter | Single Family | 1,303 | C |
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| 8766 51st Ter | Single Family | 1,476 | B |
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| 51st Ter | Vacant Residential | 0 | L | |
| 5118 87th St | Single Family | 921 | C |
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| 8795 50th Av | Single Family | 2,953 | B |
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| 87th St | Vacant Commercial | 0 | L | |
| 8775 50th Av | Vacant Commercial | 0 | L | |
| 8735 50th Av | Single Family | 486 | C |
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| 8725 50th Av | Vacant Commercial | 0 | L | |
| 8796 51st Ter | Single Family | 2,162 | B |
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| 8797 50th Av | Single Family | 1,530 | C |
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| 5080 87th St | Single Family | 1,022 | C |
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| 8799 50th Av | Church | 9,557 | B |
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| 5125 87th St | Vacant Commercial | 0 | L |
Local Household Income
The median household income in this part of Florida is $56,422. The bottom 10% of the population earn less than $18,447 per year. The top 10% earn more than $165,349 per year. The top 1% earn more than $623,975 per year. Most renters earn between $24,468 (20th percentile) and $43,200 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $112,844 and $141,055.
The tax assessed value of this property places it in percentile 3 of all properties in this area. This suggests it would appeal to someone earning around $8,564 per year who should qualify for a mortgage between $17,128 and $21,410.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $848. Most renters earn between $2,039 and $3,600 per month. They typically spend 35% of their monthly income on rent. Most rents fall in the $625 (20th percentile) to $1,191 (80th percentile) range. The residential vacancy rate is 9%.
This property falls in percentile 3 of all properties in this area. This corresponds to a rent of $306 per month and a monthly household income of $1,168 ($14,016 per year)