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    Homesite with Golf Course Views Title is generated by Realmo AI

    404 W Fenway Drive, Hernando, FL 34442

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    Pending
    $197,000

    LAND - Hernando, FL

    Lot size:
    1.08 Acres
    Added:
    Jan 12, 2026
    Days on Market:
    143
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 404 W Fenway Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    PDR
    Exterior features
    RoomForPool
    Standard status
    Pending
    APN
    2817682
    Lot size
    1.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    HAMPTON HILLS FIRST ADDITION PB 15 PG 121 (MSP96-03 OR BK 1124 PG 773-777): WINDWARD VLG LOT 1 TRACT B:COM AT NW COR OF TRACT B TH S 64DEG 23M 23S E AL N'LY LN OF TRACT B 481.12 FT TO P C OF A CURVE CONCAVE N'LY HAVING A CENTRAL ANGLE OF 70 DEG AND A RADIUS OF 1111.11 FT TH E'LY AL THE ARC OF SD CURVE 1357.48 FT TO P T OF SD CURVE (CHORD BEARING AND DISTANCE BETWEEN SD PTS BEING N 80DEG 36M 37S E 1274.61 FT) SD PT ALSO BEING THE P C OF A CURVE CONCAVE SE'LY HAVING A CENTRAL AGNLE OF 1 00DEG 00M AND A RADIUS OF 1960.10 FT TH NE'LY AL THE ARC OF SD CURVE 34.21 FT TO POB (CHORD BEARING AND DISTANCE BETWEEN SD PTS BEING N 46DEG 06M 37S E 36.21 FT) TH CONT NE'LY AL THE ARC OF SD CURVE 171.96 FT TO A PT (CHORD BEARING AND DISTANCE BETWEEN SD PTS
    Tax Annual Amount
    1679

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Annette Leon

    Listing agent Annette Leon License #3530979

    Listing office EXP Realty LLC 10752 Deerwood Park Blvd, Homosassa, FL

    Listing date Jan 12, 2026

    MLS# 850964 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.

    HighLights

    • Acre‑plus homesite on W Fenway Drive, the last available of its size in the area.
    • Located in Hampton Hills First Addition, considered the most elegant enclave of Terra Vista.
    • Sweeping golf course views and tranquil woodland vistas.
    • Access to Terra Vista's resort‑style amenities: multiple golf courses, pools, tennis, pickleball, fitness center.
    • Located in Terra Vista, an exclusive gated, dynamic lifestyle community with no age restrictions.
    • Elevated location with no flood risk.

    Overview

    This one-acre homesite is located on the south side of W Fenway Drive in Hampton Hills First Addition of Terra Vista. The lot offers golf course views and woodland vistas. Situated within Terra Vista, a gated community with no age restrictions, residents have access to amenities including three 18-hole golf courses, a 9-hole course, indoor and outdoor swimming pools, tennis and pickleball courts, and a fitness center with personal training. Additional amenities include dog parks, bocce ball and beach volleyball courts, on-site restaurants, a Tiki bar, and social clubs, fitness and dance classes. The location offers elevated positioning with no flood risk.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hernando
    County
    Citrus
    State
    Florida
    Longitude
    -82.441299
    Latitude
    28.889493

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    FAQs

    What type of property is this?
    Residential land & home lot - One-acre homesite in Terra Vista with resort-style amenities.
    Where is this residential land & home lot located?
    The property is located at 404 W Fenway Drive Hernando, FL.
    What is the asking price?
    The asking price for this property is $197,000.
    What are key features of this property?
    This property features: Acre‑plus homesite on W Fenway Drive, the last available of its size in the area.; Located in Hampton Hills First Addition, considered the most elegant enclave of Terra Vista.; Sweeping golf course views and tranquil woodland vistas.
    (352) 860-6120
    We can help!
    Listing Contact
    Annette Leon
    Real Estate License ID: 3530979
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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.

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