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    The Largest CRE Database in the US with Over 1 Million Listings

    421 NW 14Th Pl Crystal River, FL 34428

    Sponsored
    For Sale
    $798,500

    MULTI_FAMILY - Other - Crystal River, FL

    Property size:
    2,848 SF
    Lot size:
    0.20 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 24 at 8:06 pm

    Property Features for 421 NW 14Th Pl

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Window features
    Blinds
    Zoning
    RW
    APN
    1066204
    Parking
    2
    Parking features
    Driveway, Carport, Garage
    Interior features
    Fireplace, HighCeilings, SplitBedrooms, SolidSurfaceCounters, UpdatedKitchen, VaultedCeilings, WindowTreatments, FirstFloorEntry, ProgrammableThermostat, SlidingGlassDoors
    Exterior features
    Lighting, CircularDriveway, ConcreteDriveway
    Fireplace
    1
    Appliances
    Dryer, Dishwasher, ElectricOven, ElectricRange, MicrowaveHoodFan, Microwave, Refrigerator, Washer
    Size
    2,848 SF
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public
    Water front features
    Seawall, River Access, Ocean Access, Waterfront
    Water front
    1

    Building Details

    Year built
    1965
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Tile
    Building materials
    Stucco
    Roof type
    Shingle, Asphalt
    Architectural style
    Other
    Additional Structures
    Shed(s)

    We can help!

    Listing Contact
    Sharon Middleton

    Plantation Realty, Inc. (352) 795-0784

    Listing agent Sharon Middleton (352) 795-0784 License #3202907

    Listing date Jan 23, 2026

    MLS# 851603 Listing URL

    Copyright © 2026 REALTORS Association of Citrus County, Inc. 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

    Waterfront Multi-Family Home with Income Potential

    Located in Crystal River, this waterfront property at 421 NW 14th Place offers a combination of riverfront living and income-producing potential. The main living space features three bedrooms, a full kitchen equipped with new countertops, cabinets, and appliances, and tile flooring. A wood-burning fireplace adds warmth, while sliding doors provide access to the covered lanai and boat dock. The second living area has a private entrance, one bedroom, a full bath, and a complete kitchen with matching appliances, cabinets, and countertops, along with direct access to the lanai. Additionally, there's a studio guest house called the Captain's Quarters, which includes a kitchenette and full bath. The property also features a laundry room connected to the lanai with storage, a boathouse, ample parking, a circular drive, garage and carport, and an additional storage shed. Situated on freshwater with views of the main river, the property is a short boat ride to the Gulf. Downtown Crystal River, with its festivals, shops, and local dining, is within walking or golf-cart distance. The property, with a lot size of 0.2 acres and a property size of 2848 square feet, is zoned RW and offers potential for multi-generational living or income generation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.605951
    Latitude
    28.897011

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    FAQs

    What type of property is this?
    Residential income property - Riverfront property in Crystal River with multiple living spaces.
    Where is this residential income property located?
    The property is located at 421 NW 14Th Pl Crystal River, FL.
    What is the asking price?
    The asking price for this property is $798,500.
    What are key features of this property?
    This property features: - Direct riverfront access with a private boat dock offering immediate access to freshwater and the Gulf.; - Multiple living spaces: a 3-bedroom main house, a separate living area with 1 bedroom, kitchen, and a Captain's Quarters studio guest house.; - Prime location within walking or golf-cart distance to downtown Crystal River.
    (352) 795-0784
    Request Owner's contact information
    421 NW 14Th Pl Crystal River, FL 34428
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    Crystal River, FL 34428
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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
    421 NW 14Th Pl Crystal River, FL 34428
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    We can help!
    Listing Contact
    Sharon Middleton
    Real Estate License ID: 3202907
    (352) 795-0784
    Learn more
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