6725 S Rainbow Pt, photo 1
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Overview

0 baLand
TypeLand
HOANone listed
Lot840,708 sqft

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About this home

6725 S Rainbow Pt is a home in Rovan Farms Unrec Sub, Homosassa. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.

From the listing

This 19.3± acre development tract is strategically positioned within the Cardinal Mixed-Use Interchange Management Area (IMA), just east of the recently expanded $135 million Suncoast Parkway (SR 589) interchange in Citrus County, Florida. Situated along one of the primary northward growth corridors extending from the Tampa–St. Petersburg MSA, the property benefits from interchange-level access and sustained public infrastructure investment that continues to fuel residential and commercial expansion throughout the region. The site falls within the designated Mixed-Use Development area, allowing residential densities ranging from 6 to 20 dwelling units per acre subject to Master Planned Development (MPD) approval. Based on approximately 18± acres within the mixed-use designation, the property presents a theoretical development yield ranging from approximately 119 units at 6 dwelling units per acre to as many as 386 units at 20 dwelling units per acre. This density flexibility supports a variety of development concepts including multifamily, build-to-rent communities, townhomes, or integrated mixed-use residential projects, providing scale and adaptability in a supply-constrained corridor. Infrastructure accessibility materially enhances the feasibility profile of the site. A jurisdictional pressure sewer system is located within approximately 2,000 feet of the property boundary, and a 12-inch water main is available for direct connection, providing the necessary capacity to support MPD-level development intensity. The combination of density allowances, utility proximity, and interchange positioning establishes this parcel as one of the more compelling large-scale residential opportunities within the expanding Suncoast Parkway corridor. Citrus County remains one of Florida’s strongest emerging growth markets, with a current population of approximately 153,600 residents projected to exceed 350,000 by 2030 according to County planning estimates. The region continues its transition into a major residential, healthcare, and service hub within the Tampa Bay sphere of influence. The completed parkway expansion and planned northern Phase 3 extension—located just north of the subject property—will provide direct one-hour connectivity to Tampa International Airport and surrounding employment centers, significantly increasing regional mobility, tourism flow, and housing demand. Within a 15-minute trade area, the site serves approximately 46,361 residents with stable demographics, including an average age of 58 and a median household income of approximately $65,000. The convergence of sustained population growth, expanding infrastructure, and interchange-controlled density positions this property as a high-visibility, scalable, and future-proof development opportunity in one of Florida’s advancing growth corridors.

The essentials

On market
241 days
Annual tax
$4,503
Flood zone
X · Low risk
Lot
840,708 sqft
Type
Land

At a glance

Payment

Est. monthly payment
$5,447/mo
Down payment (20%)
$177,475
Property taxes
$375/mo
Rate assumed
6.8% · 30 yr
View full breakdown

Details

Type
Land
Year Built
-
Lot
840,708 sqft
Cooling
-
Heating
-
Parking
-
Days on Market
241
Flood Zone X
Annual Tax (2025)
$4,503
Parcel #
18E-20S-10-0000-1A0H0-0010

Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.

Subdivision
Rovan Farms Unrec Sub
County
Citrus
MLS Area
34446 - Homosassa
Lot Size
840,708 sqft

Price history

Date
Event
Price
7/22/2026
Price change
Source: Stellar MLS #OM718653
$887,375-3.0%
-
Price change
Source: Stellar MLS #OM718653
$914,820-16.8%
2/13/2026
Listed for sale
Source: Stellar MLS #OM718653
$1,100,000

Neighborhood

6725 S Rainbow Pt
Homosassa, FL, 34446 · 34446 - Homosassa

Calculator

Est. monthly payment
$5,447/mo
Principal & interest$4,628
Property taxes$375
Insurance$444
Down payment20% · $177,475
Interest rate6.80%
Loan term

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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.

Quick answers.

Price

$887,375

Time on market

241 days

Monthly payment

About $5,447/mo

That is 20% down on a 30-year fixed at 6.8%, plus the home's $4,503 annual tax bill, insurance.

Flood zone

Zone X

That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.

Have another question?

Brokered byCENTURY 21 J.W.MORTON R.E.Listing agent: Elias KirallahListing data from Stellar MLS, MLS# OM718653.

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