This 5-acre Tropical Island Is for Sale — and It's More Affordable Than a House in the U.S.

It features a three-bedroom house with a wraparound porch and beautiful ocean views.

Owning a private island in the Caribbean epitomizes luxe living, a privilege often reserved for billionaires. However, a recent real estate listing might prove otherwise.

Iguana Island, a lush five-acre swath of land just 12 miles off Nicaragua's coast, is looking for its new owner — and the price may surprise you. Listed for only $475,000, which is way less than the median sale price for a single-family home in Florida, the island features a move-in-ready main house and staff accommodations.

According to the listing, "clear blue-green water dominates sight lines in all directions, and the region's spectacular sunrises and sunsets make the views all the more dramatic at daybreak and nightfall." The island is reachable by boat from Bluefields, a major urban hub in eastern Nicaragua, which is a 45-minute flight from Managua, which is Nicaragua's capital. (There are daily direct flights from Miami; Fort Lauderdale, Florida; and Houston to Managua.)

The three-bedroom home, built in classic colonial style, has two bathrooms and a wraparound porch overlooking the ocean. Inside, a dining room, a bar, and a living room transform it into the ultimate vacation residence. The house is surrounded by coconut and banana palms for more privacy and much-needed shade. The island's infrastructure includes a boardwalk and a 28-foot observation tower that allows owners to enjoy even more stunning views that reach as far as the rain forests on mainland Nicaragua.

While there is no pool — although the new owner could certainly add one — the listing notes residents can enter the sea through the island's western side, where the waters are calm, and there is a dock. The area is popular with divers and snorkelers, thanks to a vibrant tropical reef.

Fishing enthusiasts also have a lot to be excited about. "This part of Nicaragua earns raves for its fishing, and anglers can cast off the dock for snapper, mackerel, and barracuda, venture offshore for tuna, billfish, and wahoo, or delve into the virgin jungle rivers of the mainland to pursue trophy-size tarpon and snook," the listing reads.

There is also electricity (a backup generator is available as well), internet, and cell service on-site.

Nicaragua, home to many lakes and volcanoes, is also popular with surfers and tourists for its unspoiled Pacific and Caribbean coastlines, where lush resorts have started to pop up, so this could also be a good opportunity to own an investment property in the Central American country.

You can read the full listing at privateislandsonline.com.

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