1163 E CANVAS LN
About This Property
Situated in a desirable residential area, this property offers convenient access to G & R Pharmacy (0.4 miles), America's Angels school (1.41 miles), a local hospital (1.97 miles), and Hernando (2.82 miles). The lot is located in Flood Zone X, a low-risk area outside the 100-year and 500-year floodplains with no special elevation requirements, flood insurance mandates, or major building restrictions from flooding. No wetlands are present near the property, eliminating any permitting delays, mitigation requirements, or development restrictions related to wetland protection and allowing for full lot utilization.
General zoning in the Hernando area falls under Citrus County R-1 (or similar) Single Family Residential District, supporting low-density residential use including single-family detached homes by right. Modular/manufactured homes may be allowed with conditions; multifamily, duplexes, townhomes, and similar are typically prohibited without rezoning. Buyer should verify all zoning, setbacks, utility availability, and development requirements with Citrus County Community Development for a Zoning Verification Letter.
The property is available for a self-guided tour. Subleasing is not permitted. This lot is not available for rent or lease.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 21, 2026 | Listed by AMERICAN RESALES | $22,000 | |
| Listed by AMERICAN RESALES | |||
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Vacant residential lot located in the established Hercala Acres subdivision in Hernando, Florida. This parcel measures approximately 0.44 acres (19,080 sq ft) and is zoned MDRMH – Medium Density Residential / Mobile Home, allowing for site-built or manufactured housing. The lot is not in a flood zone. Conveniently situated near Norvell Bryant Highway with easy access to local shopping, dining, and outdoor recreation.
All information is deemed reliable but should be independently verified.
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| Nov 24, 2025 | Listed by Sunland Real Estate, LLC. | $24,900 | |
| Listed by Sunland Real Estate, LLC. | |||
| May 1, 1996 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017