NOT LISTED FOR SALE

1116 Varela St Key West, FL 33040

Old Town Neighborhood

Estimated Value: $1,442,000 - $2,328,000

3 Beds
3 Baths
1,438 Sq Ft
$1,311/Sq Ft Est. Value

Last Sold April 14, 2023

Last sale price $2,060,000 $1,433 Per Sq Ft

Est. 8% decrease in value since last sale

Current estimated payment $10,738/month

3 Days on Market

About This Home

As of April 2023

Stunning Old Town home with guest cottage, large pool and two off street parking spots. Completely redone from top to bottom in 2017, this gorgeous home has soaring vaulted ceilings, chef style kitchen with pass through to BBQ and outdoor dining. Impact windows and doors throughout this X flood zone home keep your insurances low with minimum maintenance and central a/c in main home and ductless in the cottage both with remote a/c system controls. Cottage has loft sleeping space as well as a custom murphy bed for additional guests. Every detail has been addressed in this beautiful turnkey home.

Last Agent to Sell the Property

Jennifer Newman

Truman & Co. (KW) License #3283327 Listed on: 02/15/2023

Co-Listed By

Bobby Ciulla

Truman & Co. (KW) License #3243500

Home Details

Home Type

Single Family

Est. Annual Taxes

$9,380

Year Built

1943

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • 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
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Median
  • State Province: FL
  • Taxes: 7607.81
  • Vehicle Storage: Off Street Parking
  • Vehicle Storage Cars: 2
  • Year Built: 1943
  • Alternate Key Number: 1033707
  • Cooling Heating: Central Air, Ceiling Fans(s)
  • Lot Sq Ft: 3807.00
  • Pool Info: In Ground
  • Pool Info Heated: Yes
  • Porch Balcony: Open Porch/Balcony, Deck, Patio
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • Estimated Living Sq Ft: 1438.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Drapes/Blinds Incl, Quartz Countertops, Storage, Smoke Alarms, Sky Light(s), Cathedral Ceilings
  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • Appliances: Washer, Stainless Steel Appliance(s), Ice Machine, Gas Appliances, Freezer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Wood
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 3

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Lighting, Storage, Sprinkler System, Shed
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: Yes

Utilities

  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: X Zone
  • Parcel Number: 00032940-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.09

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Furnished

Tax Info

  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 15, 2023
Closed on
Apr 12, 2023
Sold by
Harman K Shawn K and Harman Donna L
Bought by
Wade Vanhouse and Wade Michelle Trombetta
Seller's Agent
Jennifer Newman
Truman & Co. (KW)
List Price
$2,195,000
Sold Price
$2,060,000
Premium/Discount to List
-$135,000
-6.15%
Views
58
Current Estimated Value
$1,885,313

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$174,687
Avg. Annual Appreciation
-2.88%
Original Mortgage
$1,545,000
Outstanding Balance
$1,505,246
Interest Rate
6.6%
Mortgage Type
New Conventional
Estimated Equity
$413,685

Purchase Details

Listed on
Sep 15, 2015
Closed on
Jun 8, 2016
Sold by
Renwick Tobin
Bought by
Harman K Shawn and Harman Donna L
Seller's Agent
Roger Gillis
Coldwell Banker Schmitt Real Estate Co. (KW)
Buyer's Agent
Jennifer Newman
Doug Mayberry Real Estate (KW)
List Price
$575,000
Sold Price
$475,000
Premium/Discount to List
-$100,000
-17.39%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.88%

Purchase Details

Listed on
Sep 15, 2015
Closed on
Jun 7, 2016
Sold by
Lowe Maynard V and Lowe Marcie
Bought by
Harman K Shawn and Harman Donna L
Seller's Agent
Roger Gillis
Coldwell Banker Schmitt Real Estate Co. (KW)
Buyer's Agent
Jennifer Newman
Doug Mayberry Real Estate (KW)
List Price
$575,000
Sold Price
$475,000
Premium/Discount to List
-$100,000
-17.39%

Purchase Details

Closed on
Jan 6, 1997
Sold by
Lowe Maynard V and Lowe Agnes P
Bought by
Lowe Maynard V and Lowe Maynard V
Source: Public Records

Range of Values:

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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
Wade Vanhouse $2,060,000 None Listed On Document
Harman K Shawn -- None Available
Harman K Shawn $475,000 None Available
Lowe Maynard V $100 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wade Vanhouse $1,545,000
Previous Owner Harman K Shawn K $510,400
Previous Owner Harman K S K $529,000
Previous Owner Harman Harman K $529,000
Previous Owner Lowe Marcie $100,000
Previous Owner Lowe Maynard $275,000
Previous Owner Lowe Maynard V $175,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/14/2023 04/14/23 Sold $2,060,000 -1.9% $1,433 / Sq Ft
02/21/2023 02/21/23 Price Changed $2,099,000 -4.4% $1,460 / Sq Ft
02/15/2023 02/15/23 For Sale $2,195,000 +362.1% $1,526 / Sq Ft
06/08/2016 06/08/16 Sold $475,000 -17.4% $610 / Sq Ft
06/07/2016 06/07/16 Pending -- -- --
09/15/2015 09/15/15 For Sale $575,000 -- $738 / 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
2024 $9,380 $1,593,474 $810,824 $782,650
2023 $9,380 $1,367,194 $705,283 $661,911
2022 $7,608 $945,930 $606,443 $339,487
2021 $6,987 $749,019 $452,319 $296,700
2020 $7,375 $796,154 $495,876 $300,278
2019 $7,428 $795,203 $491,345 $303,858
2018 $7,480 $784,622 $479,961 $304,661
2017 $5,051 $505,951 $0 $0
2016 $5,047 $541,593 $0 $0
2015 $4,786 $503,163 $0 $0
2014 $4,212 $365,021 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jennifer Newman

    Seller's Agent in 2023

    Jennifer Newman

    Truman & Co. (KW)

    (305) 902-7090

    44 in this area

    99 Total Sales

    Jennifer Newman
    Section Image
  • Bobby Ciulla

    Seller Co-Listing Agent in 2023

    Bobby Ciulla

    Truman & Co. (KW)

    (561) 306-2397

    1 in this area

    5 Total Sales

    Bobby Ciulla
    Section Image

  • R

    Seller's Agent in 2016

    Roger Gillis

    Coldwell Banker Schmitt Real Estate Co. (KW)

  • C

    Seller Co-Listing Agent in 2016

    Curtis Skomp

    Coldwell Banker Schmitt R.E.

    Section Image
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Map

Source: Key West Association of REALTORS®

MLS Number: 604200

Key West Association of REALTORS®

APN: 00032940-000000

Florida Monroe County Key West 33040 Old Town

1116 Varela St, Key West, FL

This home is located at 1116 Varela St, Key West, FL 33040 since 15 February 2023 and is currently estimated at $1,885,313, approximately $1,311 per square foot. This property was built in 1943. 1116 Varela St is a home located in Monroe County with nearby schools including Horace O'Bryant School, Key West High School, and May Sands Montessori School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Key West Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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