NOT LISTED FOR SALE

1012 Varela St Unit 2 Key West, FL 33040

Old Town Neighborhood

Estimated Value: $492,000 - $553,000

1 Bed
1 Bath
241 Sq Ft
7,492 Sq Ft Lot

Last Sold December 10, 2024

Last sale price $513,000 $2,129 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $3,110/month

126 Days on Market

About This Home

As of December 2024

Just the perfect little Key West Cottage that packs a big punch!Great outdoor indoor living is alive and well in this cottage, with two very private outdoor sitting areas, also an above ground pool! This cottage has extreme flow from one side of the property to the end, you never feel as if you are inside or outside, just on a little resort.Open floor plan will greet you inside, all stainless steel appliances in the kitchen area. Nice bathroom with a walk in shower. This cottage has both a washer and dryer.Extremely low HOA in this X-Flood zone location.You can walk or ride your bike to all that Key West has to offer, now we just need you!Call today for your private showing.

Last Agent to Sell the Property

Bobby Coe

RE/MAX Keys Connection (KW) License #3428120 Listed on: 07/01/2024

RE/MAX Keys Connection (KW)

Last Buyer's Agent

Juan Benitez

Compass Realty (KW)

Property Details

Home Type

Condominium

Year Built

1908

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Condo
  • First Right of Refusal: Yes
  • Association Fee: 80.50
  • Mandatory HOA: Yes
  • Fee Includes: Sewer, Common Area Mnt, Building Insurance, Water
  • Key Island: Key West
  • K W Neighborhood: Old Town-S of Truman
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 1.00
  • Min Rental Days: 365.00
  • M L S Identifier: 20060123165453488875000000
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Median
  • State Province: FL
  • Taxes: 3815.57
  • Title: Negotiable
  • Year Built: 1908
  • Alternate Key Number: 9104523
  • Building Style: Cigar Maker
  • Cooling Heating: Ceiling Fans(s), Ductless
  • Pool Info: Above Ground
  • Association Maintenance Fee Per: Monthly
  • Tax Exemptions: Homestead
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 241.00
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Appliances: Washer, Water Purification, Stainless Steel Appliance(s), Ice Machine, Microwave, Oven, Refrigerator, Dishwasher, Dryer

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Other
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: Yes

Utilities

  • Utilities: Buyer to Verify

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: 0.2 PCT ANNUAL CHANC
  • Parcel Number: 00032600-000200
  • Land Size: Less Than 1/4 Acre

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Negotiable

Tax Info

  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 1, 2024
Closed on
Dec 10, 2024
Sold by
Fernandez Miguel
Bought by
Finkelstein Mandy J
Seller's Agent
Bobby Coe
RE/MAX Keys Connection (KW)
Buyer's Agent
Juan Benitez
Compass Realty (KW)
List Price
$540,000
Sold Price
$513,000
Premium/Discount to List
-$27,000
-5%
Views
895
Current Estimated Value
$523,765

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$10,765
Avg. Annual Appreciation
2.10%
Original Mortgage
$353,500
Outstanding Balance
$349,888
Interest Rate
6.5%
Mortgage Type
New Conventional
Estimated Equity
$173,877

Purchase Details

Listed on
May 26, 2022
Closed on
Jul 8, 2022
Sold by
Joel Skidmore Steven
Bought by
Fernandez Miguel
Seller's Agent
Sara Hallett
eXp Realty LLC
Buyer's Agent
Scott Forman
ICAMCO Real Estate Inc. (KW)
List Price
$559,000
Sold Price
$492,000
Premium/Discount to List
-$67,000
-11.99%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.73%
Original Mortgage
$170,000
Interest Rate
8%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Finkelstein Mandy J $513,000 None Listed On Document
Fernandez Miguel $492,000 Oropeza Stones Cardenas Pllc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Finkelstein Mandy J $353,500
Previous Owner Fernandez Miguel $170,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/10/2024 12/10/24 Sold $513,000 -3.2% $2,129 / Sq Ft
07/24/2024 07/24/24 Price Changed $530,000 -1.9% $2,199 / Sq Ft
07/01/2024 07/01/24 For Sale $540,000 +9.8% $2,241 / Sq Ft
07/08/2022 07/08/22 Sold $492,000 -1.0% $2,041 / Sq Ft View Prior Sale
06/11/2022 06/11/22 Pending -- -- --
06/08/2022 06/08/22 Price Changed $497,000 -11.1% $2,062 / Sq Ft
05/26/2022 05/26/22 For Sale $559,000 +126.3% $2,320 / Sq Ft
07/07/2020 07/07/20 Sold $247,000 -0.8% $1,025 / Sq Ft View Prior Sale
06/22/2020 06/22/20 Pending -- -- --
06/02/2020 06/02/20 For Sale $249,000 -- $1,033 / Sq Ft
Source: Key West Association 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 $4,256 $430,679 -- $430,679
2024 $3,816 $492,793 -- $492,793
2023 $3,816 $400,500 $0 $400,500
2022 $2,648 $348,451 $0 $348,451
2021 $2,187 $200,845 $0 $200,845
2020 $1,754 $200,845 $0 $200,845
Source: Public Records

Agents Affiliated with this Home

  • Bobby Coe

    Seller's Agent in 2024

    Bobby Coe

    RE/MAX

    (305) 363-9665

    40 in this area

    132 Total Sales

    Bobby Coe
    Section Image

  • J

    Buyer's Agent in 2024

    Juan Benitez

    Compass Realty (KW)

  • Juan Benitez Benitez

    Buyer's Agent in 2024

    Juan Benitez Benitez

    Keller Williams Key West Compass Realty

    (305) 587-9230

    18 in this area

    48 Total Sales

    Juan Benitez Benitez
    Section Image

  • S

    Seller's Agent in 2022

    Sara Hallett

    eXp Realty LLC

    Section Image

  • S

    Buyer's Agent in 2022

    Scott Forman

    ICAMCO Real Estate Inc. (KW)

  • Allison Findlay

    Seller's Agent in 2020

    Allison Findlay

    Brenda Donnelly Real Estate LLC

    (305) 395-0615

    14 in this area

    26 Total Sales

    Allison Findlay
    Section Image
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Map

Source: Key West Association of REALTORS®

MLS Number: 610629

Key West Association of REALTORS®

APN: 00032600-000200

Florida Monroe County Key West 33040 Old Town

1012 Varela St Unit 2, Key West, FL

Not Listed for Sale

Condos

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