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    1351 SE 196Th Ct Morriston, FL 32668

    Sponsored
    For Sale
    $779,000

    Farm - MORRISTON, FL

    Type:Farm
    Property size:
    4,394 SF
    Lot size:
    5.85 Acres
    Days on Market:
    15
    Last Refresh:
    Feb 21 at 5:06 am

    Property Features for 1351 SE 196Th Ct

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    A-1
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Den, Dining Room, Great Room, Kitchen, Laundry
    Bedrooms
    5
    Bathrooms
    5
    APN
    21047-000-00
    Parking features
    Carport, Covered, Driveway
    Pool private
    1
    Interior features
    Built-in Features, Ceiling Fans(s), Crown Molding, Eat-in Kitchen, Primary Bedroom Main Floor, Split Bedroom, Thermostat, Walk-in Closet(s), Window Treatments
    Exterior features
    Corner Lot, Level, Paved, Fencing, Fire Pit, French Doors, Garden, Lighting, Rain Gutters, Storage, Pool
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    4,394 SF
    Lot size
    5.85 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Brick, Cement Siding, HardiPlank Type
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Peggy Pittas
    Peggy Pittas

    RE/MAX AllStars Realty (352) 484-0168

    Listing agent Peggy Pittas (352) 484-0155 License #0695605

    Listing date Feb 7, 2026

    MLS# OM717991 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Equestrian Farm with Pool

    This turnkey equestrian farm is situated on 5.85 gated and fully fenced acres in Winding Oaks Estates. Designed for horse owners and animal lovers, the property includes a 5-bedroom, 4.5-bath pool home with over 4300 square feet of living space. The equestrian facilities feature a 6-stall center-aisle barn with a wash rack and air-conditioned tack room, an additional 2-stall barn, a maintained natural-sand dressage-size arena, four fenced paddocks with water to two, field shelters, and a hay shed. A separate workshop/shed with 220V electric is also present. The home, built in 2001, includes dual primary suites with en-suite baths and walk-in closets, three additional en-suite bedrooms, a dedicated office/den with built-ins, and a living room with a gas fireplace. The kitchen offers abundant counter and cabinet space, a breakfast bar, and a breakfast nook. A utility/laundry room provides built-in cabinetry, a sink, a storage closet, and a washer and dryer. The land features apple, peach, and orange trees, along with a designated wildlife sanctuary area. Located in the equestrian community of Winding Oaks, the property is 15 minutes from riding trails and close to the World Equestrian Center and HITS. The property offers space for gardens, raising animals, or homesteading. It is zoned A-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Auto Repair Shop Accounting Firm Garden Center Grocery & Convenience Store Clothing & Fashion Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.44367068
    Latitude
    29.31018385

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    FAQs

    What type of property is this?
    Horse & equestrian property - Equestrian farm with pool home on 5.85 acres.
    Where is this horse & equestrian property located?
    The property is located at 1351 SE 196Th Ct Morriston, FL.
    What is the asking price?
    The asking price for this property is $779,000.
    What are key features of this property?
    This property features: - Turnkey equestrian farm on 5.85 gated and fully fenced acres in Winding Oaks Estates.; - Equipped with a 6-stall center-aisle barn, 2-stall barn, dressage arena, 4 paddocks, field shelters, and hay shed.; - **Gorgeous 5 bedroom, 4.5 bath pool home with over 4300 sq ft of living space, including two primary suites.**
    (352) 732-0591
    Request Owner's contact information
    1351 SE 196Th Ct Morriston, FL 32668
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    Morriston, FL 32668
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1351 SE 196Th Ct Morriston, FL 32668
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    We can help!
    Listing Contact
    Peggy Pittas
    Peggy Pittas
    Real Estate License ID: 0695605
    (352) 732-0591 (352) 484-0155 (352) 427-5508
    Learn more
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