Upgraded Residential Income
For Sale
$299,000
1208 TURTLE ISLAND Road, Lady Lake, FL 32159
Residential, LADY LAKE, FL
Property Size1,509 SF
Lot Size0.09 Acres
Price / SF$198.14
Days on Market165
Property Features for 1208 TURTLE ISLAND Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
Open, Driveway
Window features
Blinds, Shutters
Patio and Porch features
Patio
Pets allowed
Cats OK, Dogs OK
Interior features
Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Stone Counters, Window Treatments
Appliances
Cooktop, Dishwasher, Disposal, Dryer, Microwave, Tankless Water Heater, Washer
Subdivision
HAMMOCK OAKS PH 1C
Lot features
Conservation Area
Elementary school
Villages Elem of Lady Lake
Middle school
Carver Middle
High school
Leesburg High
Directions
Make your way toward US-441 / US-27. Travel toward Lady Lake / The Villages. Once on US-441/US-27, continue driving until you reach the Lady Lake area. Look for Lake Griffin Road (also labeled CR 25 in some areas). Turn east onto Lake Griffin Road. Drive along Lake Griffin Road until you see Turtle Island Road. Turn right onto Turtle Island Road. Continue straight.1208 Turtle Island Road will be on your left as you proceed.
Standard status
Active
APN
19-18-24-0012-000-21700
Size
1,509 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HAMMOCK OAKS PHASE 1C PB 83 PG 12 LOT 217
Tax Annual Amount
2514
Legal Description
HAMMOCK OAKS PHASE 1C PB 83 PG 12 LOT 217
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Flooring type
Vinyl, Tile - Ceramic, Carpet
Building materials
Block
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
COLLADO REAL ESTATE
(386) 427-0002
Listed By:
Michelle Alban · License #3394567
(954) 554-7182
Added: Apr 7
Changed: Sep 18
Last Checked: Sep 18 at 6:06AM
MLS# NS1087894
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.
Investment Insights
Based on property information with market context.
This 1,509-square-foot ranch-style villa in Lady Lake includes three bedrooms, two bathrooms, an open floor plan, and a primary bedroom on the main level. Interior features include solid-surface and stone counters, ceramic tile and vinyl flooring, designer window treatments, ceiling fans, and an eat-in kitchen. The home also includes a washer, dryer, laundry cabinetry, dishwasher, microwave, disposal, cooktop, and tankless water heater.
The 0.09-acre property backs to wooded land and a retaining pond, with no rear neighbors. Outdoor features include a patio, lanai, driveway, and open parking. Public water and public sewer serve the property, while central air and electric heating provide climate control. The all-ages community is located at 1208 Turtle Island Road, Lady Lake, Florida 32159.
The 0.09-acre property backs to wooded land and a retaining pond, with no rear neighbors. Outdoor features include a patio, lanai, driveway, and open parking. Public water and public sewer serve the property, while central air and electric heating provide climate control. The all-ages community is located at 1208 Turtle Island Road, Lady Lake, Florida 32159.
Key Highlights
- 1,509‑square‑foot ranch‑style villa with 3 bedrooms and 2 bathrooms
- 0.09‑acre lot backing to wooded land and a retaining pond
- Open floor plan with primary bedroom on the main level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,059
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,180
$301.2K
Cap Rate 7%
$215,129
$215.1K
Cap Rate 9%
$167,322
$167.3K
Market Conditions
NOI Build-Up for 1,509 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $19.20/SF
− Vacancy
−$1.6K −$1.06/SF
EGI
$27.4K $18.14/SF
− OpEx
−$12.3K −$8.16/SF
NOI
$15.1K $9.98/SF
Area
Sumter County, FL
Vacancy
5.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,180
Cap Rate 7%
$215,129
Cap Rate 9%
$167,322
Alternative Uses
Best Use
Apartment 5plus
$215.1K
$188.2K – $251.0K
NOI $15,059 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ranch-style villa with three bedrooms, two bathrooms, modern finishes, and a wooded rear setting in an all-ages community.
Where is this residential income property located?
The property is located at 1208 TURTLE ISLAND Road Lady Lake, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,509‑square‑foot ranch‑style villa with 3 bedrooms and 2 bathrooms; 0.09‑acre lot backing to wooded land and a retaining pond; Open floor plan with primary bedroom on the main level
