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$425,000

2886 C 470

Lake Panasoffkee, FL 33538

Listing updated: July 28, 2026 at 6:48 AM ET

Active

Listing courtesy of Flamingo Real Estate & Mngmt · Kody Ondriezek · MLS #G5115539 · Active · 352-689-1000

Beds

Bath

1,086

Sq Ft

2.16

Acres

1978

Built

◆Waterfront◆Water access◆2.16 acres◆$391/sqft◆360° tour

Single Family Residence

Property type

1978

Year built

94,090 sqft

Lot size

$391

Price / sq ft

No HOA

HOA dues

Day on market

Flood zone

About this home

Located in the heart of Lake Panasoffkee at the intersection of C-470 and County Road 414, this property offers a unique opportunity for waterfront residential development. With the approved plots for up to 13 single-family manufactured homes along the canal front and outlet river, or 8 "cottages" 600-800 sq ft in size, already plotted by the county. All approved site plans are recorded with the county, and available to interested buyers upon request to the listing agent. This site is perfect for transforming into a picturesque waterfront, river access, income producing community. Currently, the property includes one home and five mobile home, Three of the mobile homes are in disrepair and will require removal, one is a lot lease and one is rented. The site build home has a new roof replaced in 2025, and new flooring throughout. The redevelopment possibilities are immense, allowing for the creation of a modern, inviting neighborhood that takes full advantage of the stunning waterfront views. County Road 414 provides direct access to a scenic walking bridge that overlooks the outlet and leads to Marsh Bend “Outlet” Park. This park is a local favorite, featuring a public boat ramp, walking trails, a beach volleyball court, picnic areas, fishing spots, grill stations, and a pet area, enhancing the appeal of this location for future residents. Discover the potential of this exceptional property and imagine the waterfront lifestyle it can offer. Call or email us today to explore all the development possibilities.

Estimated monthly payment

Principal & interest$2,149

Property taxes$303

Home insurance (est.)$195

Down payment

20%

$85,000 downRate

6.5%

Term

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: Active
Jul 27, 2026
Listed$425,000
Jul 27, 2026
Price increased$425,000

Facts & features

Property type: Residential
Sub type: Single Family Residence
Status: Active
Days on market: 1
Subdivision: Panasoffkee Forest
County: Sumter
Year built: 1978
Living area: 1,086 sq ft
Price/sq ft: $391
Building area: 1,264 sq ft (Public Records)
Lot size: 94,090 sq ft
Lot category: 2 to less than 5
Flood zone: AE
Annual taxes: $3,631 (2025)
Parcel #: F31-023
Zoning: RPUD
MLS #: G5115539

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Interior Details

Bedrooms: 2
Full bathrooms: 1
Flooring: Luxury Vinyl
Appliances: Range, Refrigerator
Interior features: Ceiling Fans(s)
Laundry: Other
Stories / Levels: One
Direction faces: Southeast

Heating & Cooling

Heating: Central
Cooling: Central Air

Parking

Carport: Yes

HOA & Financial

Total monthly fees: $0/mo
Total annual fees: $0
CDD: No
Homestead exemption: Yes
Min lease term: No Minimum
Ownership: Fee Simple
Available for lease: Yes
Lease restrictions: No

Exterior & Construction

Exterior features: Other
Construction materials: Other
Roof: Shingle
Foundation: Slab
Waterfront: Yes
Water access: Yes
Water view: Yes
Road surface: Asphalt

Utilities

Sewer: Septic Tank
Water source: Public
Utilities: Electricity Connected

Schools

ElementaryLake Panasoffkee ElementaryGreatSchools ↗

MiddleSouth Sumter MiddleGreatSchools ↗

High SchoolSouth Sumter HighGreatSchools ↗

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
Kitchen	First	10x10
Primary Bedroom	First	11x11
Primary Bathroom	First	5x7
Living Room	First	10x10

Listing Details

Listing date: 2026-07-27
On market date: 2026-07-27
Original list price: $425,000
Occupant type: Tenant
MLS area: 33538 - Lake Panasoffkee
Listing AOR: Lake and Sumter
Status changed: 2026-07-27
Tax legal description: BEG 1285.69 FT S 89 DEG 55 MIN 42 SEC W OF 1/4 SEC COR BETWEEN SEC 30 & 31 POINT BEIN G ON THE S R/W ST RD 470 SAID POINT ALSO BEING ON A CURVE CO NCAVE TO THE NE HAVING A RADIUS OF 956.87 FT THENCE WIT H A CHORD BEARING N 63 DEG 46 MIN 55SEC W 241.2 9 FT TO THE P.C. OF SAID CURVE S 31 DEG 17 MIN 41 SEC W 125.16 FT TO SEC LINE 277.50 FT FROM POB S 38 DEG 38MIN 45 SEC W 17.78 FT T O C/L OF A CANAL AT N/LY END THENCE ALONG C/L S 38 DEG 38 M IN 45 SEC W 155.61 FT S 59 DEG 54 MIN W 126.52 FT N 85 DE G 47 MIN W 117.47 FT N 55 DEG 40 MIN W 235.48 FT TO THE E/LY BA NK OF PANASOFFKEE RIVER S 48 DEG 28MIN 22 SEC W 105.89 FT ALONG THE MEANDERS OF RIVER TO R/W OF OLD ROAD ALONG R/W S 55 DEG 40 MIN E 230.41 FT S 72 DEG 42SEC E 120.84 FT N 85 DE G

Flood risk

High riskFEMA Zone AE

FEMA Special Flood Hazard Area (1% annual-chance / “100-year” floodplain). Flood insurance is generally required by mortgage lenders.

Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.

Location

Directions

From the intersection of CR 470 and SR 44, head south on CR 470 to Lake Panasoffkee. As soon as you cross the outlet bridge the property is located on the right. Look for sign!

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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 July 28, 2026 at 6:48 AM 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.

All or a portion of the multiple listing information is provided by Stellar MLS, from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 Stellar MLS. All rights reserved.

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