$299,900
5581 197th Terrace
Dunnellon, FL 34431
Listing updated: April 28, 2026 at 12:22 PM ET
Property type
Year built
Lot size
Price / sq ft
HOA dues
Day on market
Garage spaces
Flood zone
About this home
Tucked away on a generous .95-acre parcel, this custom-built 1981 residence offers a blend of space, flexibility, and character—perfectly suited for multigenerational living or those seeking room to grow. With 1,953 square feet of living area, 3 bedrooms, 2 bathrooms, and a side-entry 2-car garage, this property delivers both comfort and functionality in a peaceful setting. The upper level serves as the main living space, featuring a full kitchen equipped with wood cabinetry, stainless steel appliances, and a convenient breakfast bar. The adjoining dining area flows seamlessly into a spacious living room anchored by an expansive stone fireplace, creating a welcoming focal point. Two bedrooms and a full bathroom complete this level, along with an inviting 11x12 screened lanai—ideal for enjoying the outdoors year-round. The lower level provides additional versatility with a private entrance, making it well-suited for extended family or guests. This space includes a flex room highlighted by a second wood-burning fireplace, an additional bedroom, and a full bathroom. Laundry hookups are conveniently located on both levels, enhancing everyday ease. A spiral staircase connects the two floors, adding architectural interest. Outdoors, the property presents a new rood in 2025, a rear fenced yard, a detached workshop with an attached pole barn, and a chicken coop for those seeking a touch of country living. With ample room for gardening, recreation, or the addition of a pool, the possibilities are endless. This unique property combines privacy, practicality, and rustic charm—ready to accommodate a variety of lifestyles.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history1 days on market
- Status: ActiveApr 27, 2026
- Listed$299,900Apr 27, 2026
- Price increased$299,900
Facts & features
- Property type
- Residential
- Sub type
- Single Family Residence
- Status
- Active
- Days on market
- 1
- Subdivision
- Rainbow Acres 01
- County
- Marion
- Year built
- 1981
- Living area
- 1,953 sq ft
- Price/sq ft
- $154
- Building area
- 2,816 sq ft (Public Records)
- Lot size
- 41,382 sq ft
- Lot category
- 1/2 to less than 1
- Flood zone
- X (12083C0465D)
- Garage
- 2 spaces
- Annual taxes
- $4,285 (2025)
- Parcel #
- 1751-009-007
- Zoning
- R1
- MLS #
- OM723407
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Interior Details
- Bedrooms
- 3
- Full bathrooms
- 2
- Flooring
- Laminate, Wood
- Appliances
- Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
- Interior features
- Ceiling Fans(s), Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Wood Cabinets, Split Bedroom
- Laundry
- Laundry Room
- Stories / Levels
- Two
- Direction faces
- West
- Fireplace
- Yes
Heating & Cooling
- Heating
- Heat Pump
- Cooling
- Central Air
Parking
- Garage spaces
- 2
- Attached garage
- Yes
- Parking features
- Garage Faces Side
- Carport
- Yes
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Homestead exemption
- Yes
- Min lease term
- No Minimum
- Listing terms
- Cash, Conventional
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- No
Exterior & Construction
- Exterior features
- Lighting, Rain Gutters
- Construction materials
- Block, Brick, Concrete, Stucco
- Roof
- Shingle
- Foundation
- Slab
- Road surface
- Paved
Utilities
- Sewer
- Septic Tank
- Water source
- Well
- Utilities
- BB/HS Internet Available, Electricity Connected, Public
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Room Details
| Room | Level | Dimensions |
|---|---|---|
| Family Room | First | 20.5x20.1 |
| Primary Bedroom | First | 11.11x12.2 |
| Primary Bathroom | First | 5.7x8.1 |
| Living Room | Second | 26.5x13.6 |
| Dining Room | Second | 13.8x10.6 |
| Kitchen | Second | 13.1x18.1 |
| Bedroom 2 | Second | 14.6x13.4 |
| Bedroom 3 | Second | 12.4x10.1 |
Listing Details
- Listing date
- 2026-04-23
- On market date
- 2026-04-27
- Original list price
- $299,900
- Occupant type
- Owner
- MLS area
- 34431 - Dunnellon
- Listing AOR
- Lake and Sumter
- Status changed
- 2026-04-27
- Tax legal description
- SEC 36 TWP 15 RGE 18 PLAT BOOK G PAGE 095 RAINBOW ACRES UNIT 1 BLK 9 LOT 7
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
Starting on N Florida Ave (US-41 N), Keep right onto N Carl G Rose Hwy (SR-200 N) toward Ocala. Turn left onto E Apex Ln. Turn right onto N Florida Ave (US-41).Turn left onto SW 56th Ln. Turn left onto SW 196th Ave. Turn right onto SW 57th Pl. Turn right onto SW 197th Ter. End at 5581 SW 197th Ter
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of April 28, 2026 at 12:22 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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