NOT LISTED FOR SALE

1011 Varela St Unit 4 Key West, FL 33040

Old Town Neighborhood

Estimated Value: $645,428 - $761,000

2 Beds
1 Bath
846 Sq Ft
$588/mo HOA Fee

Last Sold March 26, 2021

Last sale price $442,000 $522 Per Sq Ft

Est. 65% increase in value since last sale

Current estimated payment $4,832/month

2 Days on Market

Highlights

  • Deck
  • Balcony
  • Laundry Room
  • Stainless Steel Appliances
  • Impact Glass
  • 1-minute walk to Higgs Beach Dog Park

About This Home

As of March 2021

A must see! Condo but lives like a house, totally detached 2 story property in the heart of Old Town Key West. This low maintenance condo offers privacy, outdoor space, and is just a quick walk to Duval Street. The home boasts new roof (2019), impact windows, new paint, and more! The main level offers living space, kitchen/dining, spacious den, and laundry room. The upper level has two bedrooms, generous closets, and full bath. Property offers plenty of storage with sheds and private fenced deck space. This condominium offers a tranquil common area garden/grill space and is in an X Flood Zone. Ideal for owner occupier, monthly vacation rental, or your home away from home. Gated entry. Tented in 2019.

Last Agent to Sell the Property

Bascom Grooms

Bascom Grooms Real Estate (KW) License #647099 Listed on: 02/01/2021

Last Buyer's Agent

Emily Lombard

Buy The Keys (KW)

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,396

Year Built

  • Built in 1968

Lot Details

  • Privacy Fence

HOA Fees

  • $588 Monthly HOA Fees

Home Design

  • Metal Roof

Interior Spaces

  • 846 Sq Ft Home
  • Ceiling Fan
  • Storage
  • Tile Flooring

Kitchen

  • Oven
  • Range
  • Microwave
  • Stainless Steel Appliances
  • Built-In or Custom Kitchen Cabinets

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

Outdoor Features

  • Balcony
  • Deck
  • Shed

Utilities

  • Cooling System Mounted To A Wall/Window
  • Public Hookup Available For Sewer

Listing and Financial Details

  • Homestead Exemption
  • Assessor Parcel Number 00032560-000104

Community Details

Overview

  • Association fees include building insurance, common area mnt
  • Gwynn Sub Subdivision
  • Rental Restrictions

Pet Policy

  • Pets Allowed with Restrictions

Security

  • Impact Glass

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,396

Year Built

Built in 1968

Lot Details

0

HOA Fees

$588 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Approval Required: Yes
  • Association Fee: 588.34
  • Mandatory HOA: Yes
  • Fee Includes: Building Insurance, Common Area Mnt
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Handicap Access: No
  • Key Island: Key West
  • K W Neighborhood: Old Town-S of Truman
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 1.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Ocean
  • State Province: FL
  • Taxes: 3396.02
  • Title: Negotiable
  • Year Built: 1968
  • Alternate Key Number: 9072922
  • Cooling Heating: Ceiling Fans(s), Wall/Window Unit(s)
  • Porch Balcony: Deck, Open Porch/Balcony
  • Association Maintenance Fee Per: Monthly
  • Association Info Condo Docs: Yes
  • Species List: No
  • Tax Exemptions: Homestead
  • Building Style Above Flood: Yes
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 846.00
  • Financial Status Auction: No
  • Financial Status Standard Sale: Yes
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 2

Interior Features

  • Interior Amenities: Built-in Cabinets, Storage
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Appliances: Dryer, Washer, Stainless Steel Appliance(s), Range, Refrigerator, Oven, Microwave
  • Floor: Tile
  • Specialty Rooms: Laundry Room
  • Windows/Doors: Impact Rstnce Window
  • Total Bedrooms: 2
  • Accessibility Features: None

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: CBS
  • Exterior Features: Privacy Wall/Fence, Storage, Shed
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Security: No Security
  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: 0.2 PCT ANNUAL CHANC
  • Parcel Number: 00032560-000104
  • Land Size: Less Than 1/4 Acre

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2020

Matterport 3D Tour

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 1, 2021
Closed on
Mar 26, 2021
Sold by
Borrego Don R and Borrego Gina M
Bought by
Tabb Lyle C and Tabb Kiya E
Seller's Agent
Bascom Grooms
Bascom Grooms Real Estate (KW)
Buyer's Agent
Emily Lombard
Buy The Keys (KW)
List Price
$449,000
Sold Price
$442,000
Premium/Discount to List
-$7,000
-1.56%
Current Estimated Value
$730,607

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$288,607
Avg. Annual Appreciation
11.26%
Original Mortgage
$331,500
Outstanding Balance
$296,331
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$434,276

Purchase Details

Closed on
Jun 21, 2004
Sold by
Borrego Don R and Borrego Gina M
Bought by
Borrego Don R and Borrego Gina M
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Tabb Lyle C $442,000 Attorney
Borrego Don R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tabb Lyle C $331,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/26/2021 03/26/21 Sold $442,000 -1.6% $522 / Sq Ft
02/01/2021 02/01/21 For Sale $449,000 -- $531 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,815 $613,041 -- $613,041
2024 $4,118 $613,041 -- $613,041
2023 $4,118 $436,689 $0 $436,689
2022 $3,808 $407,297 $0 $407,297
2021 $3,518 $415,122 $0 $415,122
2020 $3,396 $412,350 $0 $412,350
2019 $3,227 $387,168 $0 $387,168
2018 $3,138 $357,850 $357,850 $0
2017 $3,039 $357,850 $0 $0
2016 $3,045 $357,850 $0 $0
2015 $2,633 $256,148 $0 $0
2014 $2,595 $256,148 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Bascom Grooms

    Seller's Agent in 2021

    Bascom Grooms

    Bascom Grooms Real Estate (KW)

    (305) 304-7444

    67 in this area

    305 Total Sales

    Bascom Grooms
    Section Image

  • E

    Buyer's Agent in 2021

    Emily Lombard

    Buy The Keys (KW)

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 594469

Florida Keys Board of REALTORS®

APN: 00032560-000104

Florida Monroe County Key West 33040 Old Town

1011 Varela St Unit 4, Key West, FL

Not Listed for Sale

Condos

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