5581 SW 197TH TERRACE, Dunnellon, FL, 34431 | $299,900

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.

Features

  • Rooms: 8
  • Bedrooms: 3
  • Baths: 2 full
  • Lot Size: 100 x 415
  • Laundry: Laundry Room
  • Style: Ranch
  • Year Built: 1981
  • Garage: 2-car Garage Faces Side
  • Heating: Heat Pump
  • Cooling: Central Air
  • Approx Sq. Feet: 1,953
  • Acreage: 0.95
  • Lot Size: 100 x 415
  • Est. Taxes: $4,285
  • Lot Desc: In County, Landscaped
  • Elem. School: Romeo Elementary School
  • Middle School: Dunnellon Middle School
  • High School: Dunnellon High School
  • Appliances: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
  • MLS#: OM723407
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/OM723407/5581sw197thterrace_dunnellon_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is 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. (last updated 5/15/2026 11:17:10 PM)
Listing courtesy of KELLER WILLIAMS ELITE PARTNERS II   Phone: 352-419-0200

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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

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5581 SW 197TH TERRACE, Dunnellon, FL, 34431

$299,900

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Conforming*
30 Year
Fixed-Rate Conforming
15 Year
Fixed-Rate Conforming
Loan Amount $239,920 $239,920 $239,920
Term 360 months 360 months 180 months
Initial Interest Rate** 5.625% 6.625% 5.750%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.133% 6.739% 5.952%
Monthly Tax Payment $357 $357 $357
H/O Insurance Payment $75 $75 $75
Initial Principal & Interest Pmt $1,381 $1,536 $1,992
Total Monthly Payment $1,813 $1,968 $2,424

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.