3 private islands in Belize just hit the market - and at less than $530,000 a piece, they each cost less than the typical home in NYC and Honolulu. Here's what the money will buy you.

1 Acre Island for Sale Off the Coast of Southern Belize 17th Heaven Properties

For those outside-of-the-box homebuyers looking to invest in an affordable private island, you're in luck.

Three private islands in Belize are currently on the market for less than $530,000 each. It's a price point that's cheaper than the median home value in some of America's major markets, including New York City, Los Angeles, and Honolulu.

The three islands vary in prices ranging from $350,000 to $525,000, according to the listing website, 7th Heaven Properties.

They are located off the Caribbean coast of Southern Belize and are either undeveloped or contain a few structures that need repairs, according to Robert Cooper, the director of 7th Heaven Properties.

Read more: The Martha's Vineyard estate that Jackie Kennedy bought for $1 million in 1979 just hit the market for $65 million - here's a look inside the property

Cooper also told Business Insider that the attractive price points are due to three main factors: the islands are small in comparison to other private islands and have minimal to no developments on them; there are around 200 private islands or cayes off the Carribean coast of Belize, so there are quite a few private islands for sale; and Belize's real-estate market is less developed, especially in comparison to other countries that also have large pools of tropical islands, like the Bahamas.

Keep reading for a closer look at the three private islands.

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Belize is located in Central America and hugs the western edge of the Caribbean Sea. It sits under the US and Mexico and is around just two hours from Houston, Texas by plane.

Belize is located in Central America and hugs the western edge of the Caribbean Sea. It sits under the US and Mexico and is around just two hours from Houston, Texas by plane.

Source: Google Maps

The largest and most expensive of the three available islands spans 1.5 acres and is located off the coast of Dangriga Town in southern Belize.

The largest and most expensive of the three available islands spans 1.5 acres and is located off the coast of Dangriga Town in southern Belize.

Source: 7th Heaven Properties

The 65,340-square-foot island is currently on the market for $525,000 ...

The 65,340-square-foot island is currently on the market for $525,000 ...

Source: 7th Heaven Properties

... and is only four miles from the Belize Barrier Reef.

... and is only four miles from the Belize Barrier Reef.

Source: 7th Heaven Properties

The second-most expensive island of the three spans just over 0.65 acres and sits on Belize's Tobacco Caye Range. It's listed for $500,000.

The second-most expensive island of the three spans just over 0.65 acres and sits on Belize's Tobacco Caye Range. It's listed for $500,000.

Source: 7th Heaven Properties

There are five structures and three piers already on the island. They were built in 2009.

There are five structures and three piers already on the island. They were built in 2009.

Source: 7th Heaven Properties

Together, the existing structures include nine bedrooms and 2.5 bathrooms. However, according to the listing website, they are in need of repairs.

Together, the existing structures include nine bedrooms and 2.5 bathrooms. However, according to the listing website, they are in need of repairs.

Source: 7th Heaven Properties

The least expensive of the three islands spans one acre and is located seven miles off the coast of southern Belize.

The least expensive of the three islands spans one acre and is located seven miles off the coast of southern Belize.

Source: 7th Heaven Properties

The island is undeveloped and, as described by the listing website, is essentially a "blank canvas" for the future buyer.

The island is undeveloped and, as described by the listing website, is essentially a "blank canvas" for the future buyer.

Source: 7th Heaven Properties

It is on the market for $350,000.

It is on the market for $350,000.

Source: 7th Heaven Properties

However, not all of the islands for sale in southern Belize are as affordable. Just consider one 60-acre private island off the coast of Maya Beach.

However, not all of the islands for sale in southern Belize are as affordable. Just consider one 60-acre private island off the coast of Maya Beach.

Source: 7th Heaven Properties

It's the largest island in the area — and it's on the market for $12 million.

It's the largest island in the area — and it's on the market for $12 million.

Source: 7th Heaven Properties

As for the three, smaller private islands, the affordability of their price tags comes down to three key factors. The islands' small size is working in their favor, price-wise, as is the large number of private islands for sale in Belize.

As for the three, smaller private islands, the affordability of their price tags comes down to three key factors. The islands' small size is working in their favor, price-wise, as is the large number of private islands for sale in Belize.

Source: 7th Heaven Properties

Thirdly, Belize's real-estate market is less developed, especially in comparison to other countries that also have large pools of tropical islands, like the Bahamas.

Thirdly, Belize's real-estate market is less developed, especially in comparison to other countries that also have large pools of tropical islands, like the Bahamas.

Source: 7th Heaven Properties

To put the three price tags into perspective, they are all more affordable than the typical home in New York City, which has a median value of $674,100 ...

To put the three price tags into perspective, they are all more affordable than the typical home in New York City, which has a median value of $674,100 ...

Source: Zillow

... the typical home in Los Angeles, which has a median value of $688,700 ...

... the typical home in Los Angeles, which has a median value of $688,700 ...

Source: Zillow

... and the typical home in Honolulu, which has a median value of $655,100.

... and the typical home in Honolulu, which has a median value of $655,100.

Source: Zillow

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