Assuming all characters in that region use the same font size, then you could do a simple calculation based on the index of the line where the static text is found.
Let's say for instance that you issue a statement similar to
&myRegion = region(1.8542,3.4063,3.6042,4.7396)
and that returns 9 lines.
Let's then imagine your static text is found in
&myRegion[3] (which is the fourth line in the region). So if your text size is 1/6th of an inch (.167 inch), then your static text is located at :
3.4063 + (4 * .167) ==> 4.0743