BARRIO – The price of a private island may be closer to your budget than you think.

Knewz.com has learned that the breathtakingly scenic Iguana Island in Nicaragua is now on the market and that it is selling for a humble USD $475,000.

Located 12 miles off the mainland’s Bluefields beaches, the island is cheaper than the average price of a house in Toronto, at $1.1 Million.

Iguana Island spans five acres and features coconut palm and banana tree-lined landscapes and comes with a three-bedroom house and a 28-foot observation tower offering panoramic views of the surrounding area.

For those looking to add their personal touch, there is plenty of space for a swimming pool, while the existing dock on the west side of the island is ideal for fishing enthusiasts.

Despite its remote location, the island is not completely cut off from the world as it is said to be well within WiFi, phone and TV signal range.

Another one of its selling points is its staff.

The island is being sold with a preexisting team including an on-site manager and caretakers who are willing to stay on with the new owners to ensure that the water-locked property is well-maintained.

Getting there should be easy enough too, with a flight from the Nicaraguan capital of Managua to Bluefields being a 45-minute hop, followed by a boat trip from the docks along the mainland.

The island is reportedly large enough for a helipad should the new owner – in the interest of cutting travel times – be so inclined.

The sale, listed on the website Private Islands Inc., boasts of “The sound of the Caribbean Sea lapping against the shoreline” and says “Clear blue-green water dominates sight lines in all directions.”

The site indicates that the word of Iguana’s existence is spreading, as it was already showcased on the HGTV Island Hunters TV show.

“Nicaragua’s country profile remains on the rise, thanks to a system that doesn’t tax foreign-sourced income, the low cost of living, and an increasing number of travelers drawn to its relaxed beauty,” the website reads.

Private Islands Inc. also touts the island’s potential for business noting Nicaragua’s growing appeal among tourists.

As a nod to the latter, travel guidebook publisher, Lonely Planet, notes:

“The largest country in Central America \- dubbed the land of lakes and volcanoes \- Nicaragua has retained its off-the-beaten-path feel, and much of it has been preserved rather than developed.”

“Iguana Island easily could be reimagined into a retreat for an organization or transformed into a source of rental income with more competitive rates than other island areas of Nicaragua,” the Private Islands Inc. website continues.

The estate/island agent notes that the reason for the sale, and the rather economical price tag, is a death in the family of the current owner. Additionally, the $475,000 price tag is negotiable, and “all reasonable offers will be taken into consideration.”