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    Waterfront Land in Rainbow Lakes Title is generated by Realmo AI

    SW Shorewood Drive lot 444 445, Dunnellon, FL 34431

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    Claim this Listing
    For Sale
    $58,995

    LAND - Dunnellon, FL

    Lot size:
    0.35 Acres
    Added:
    Oct 31, 2025
    Days on Market:
    220
    Last Refresh:
    Jun 7 at 2:06 am

    Property Features for SW Shorewood Drive lot 444 445

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    APN
    0442810000
    Lot size
    0.35 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SEC 31 TWP 15 RGE 18 PLAT BOOK G PAGE 007 RAINBOW LAKES ESTATES SEC L BLK 2 LOTS 444.445
    Tax Annual Amount
    447

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed
    Water front features
    Lake, Waterfront, Lake Front
    Water front
    1

    Building Details

    Additional Structures
    Gazebo

    We can help!

    Listing Contact
    Daniel Esemplare

    Listing agent Daniel Esemplare License #652944

    Listing office Ashlar Realty LLC 217 SE 1st Ave, OCALA, FL

    Listing date Oct 31, 2025

    MLS# 849580 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

    • Lakefront property on Bonable Lake, ideal for boating, fishing, and kayaking.
    • No HOA and no time limit to build, allowing flexibility for building a dream home, vacation home, or Airbnb.
    • Located in Rainbow Lakes Estates with community amenities including parks, playgrounds, exercise room, community center, tennis and basketball courts, boat ramp and fishing pier.
    • Nicely wooded and treed 0.35‑acre lot offering a peaceful and serene setting.
    • Conveniently located near downtown Dunnellon, Ocala, Crystal River, and the Gulf Coast.
    • Close proximity to Rainbow Springs State Park for swimming, snorkeling, kayaking, canoeing, tubing, and picnicking.

    Overview

    This property is a waterfront lot spanning 0.35 acres, situated in Rainbow Lakes Estates. The land is wooded and treed, offering a peaceful and serene environment. Located on Bonable Lake, the lot is suitable for boating, fishing, and kayaking. Rainbow Lakes Estates provides amenities such as two parks, two playgrounds, an exercise room, a community center, tennis and basketball courts, a community boat ramp, and a fishing pier. The location is convenient to downtown Dunnellon, Ocala, Crystal River, the Gulf Coast, and the World Equestrian Center. Rainbow Springs State Park is also nearby, offering opportunities for swimming, snorkeling, kayaking, canoeing, tubing, and picnicking. There is no HOA or time limit to build, and mobile homes are not permitted. The property is zoned R1, allowing for potential uses such as a vacation home or Airbnb.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Dunnellon
    County
    Citrus
    State
    Florida
    Longitude
    -82.5109
    Latitude
    29.1431

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    FAQs

    What type of property is this?
    Residential land & home lot - Lakefront property perfect for building a dream or vacation home.
    Where is this residential land & home lot located?
    The property is located at SW Shorewood Drive lot 444 445 Dunnellon, FL.
    What is the asking price?
    The asking price for this property is $58,995.
    What are key features of this property?
    This property features: Lakefront property on Bonable Lake, ideal for boating, fishing, and kayaking.; No HOA and no time limit to build, allowing flexibility for building a dream home, vacation home, or Airbnb.; Located in Rainbow Lakes Estates with community amenities including parks, playgrounds, exercise room, community center, tennis and basketball courts, boat ramp and fishing pier.
    (352) 208-5658
    We can help!
    Listing Contact
    Daniel Esemplare
    Real Estate License ID: 652944
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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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