NOT LISTED FOR SALE

1128 Packer St Key West, FL 33040

Old Town Neighborhood

Estimated Value: $1,957,000 - $2,459,000

8 Beds
4 Baths
3,144 Sq Ft
$710/Sq Ft Est. Value

Last Sold July 07, 2021

Last sale price $1,650,000 $525 Per Sq Ft

Est. 35% increase in value since last sale

Current estimated payment $12,969/month

50 Days on Market

Highlights

  • Fruit Trees
  • Balcony
  • Tile Flooring
  • No HOA
  • Storage
  • Ceiling Fan

About This Home

As of July 2021

Investor Alert! Great opportunity to own a well maintained 4 unit building in Old Town with Off Street Parking, plenty of backyard for a pool or entertaining friends and family. Property is also located in the X Flood Zone providing low flood insurance costs! All 4 units are 2 Bedrooms/1 Baths, have open floor plans with lots of windows allowing for plenty of natural light. Current rental income is below market, available upon request and can likely be increased.The 2-story building sits on a 5,000 sq. ft. lot in the heart of Old Town and has 3,100 sq. ft. of total living space. Located only a few blocks to Duval Street, the beaches, wonderful restaurants and many more of Key West attractions! Seller is motivated and says bring offers! 24 Hour notice required to show.

Last Listed By

Team Spottswood/Vazquez

Truman & Co. (KW) Brokerage Phone: 305-395-2360 Listed on: 03/08/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,203

Year Built

  • Built in 1933

Lot Details

  • 5,000 Sq Ft Lot
  • Privacy Fence
  • Fenced
  • Fruit Trees

Home Design

  • Frame Construction
  • Metal Roof

Interior Spaces

  • 3,144 Sq Ft Home
  • Ceiling Fan
  • Single Hung Windows
  • Storage
  • Tile Flooring

Kitchen

  • Range
  • Built-In or Custom Kitchen Cabinets

Bedrooms and Bathrooms

  • 8 Bedrooms
  • Split Bedroom Floorplan
  • 4 Full Bathrooms

Parking

  • 2 Parking Spaces
  • Off-Street Parking

Outdoor Features

  • Balcony

Utilities

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

Listing and Financial Details

  • Minimum Rental Period: 28
  • Assessor Parcel Number 00031470-000000

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Gg Watson Sub Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,203

Year Built

Built in 1933

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Multi-Units
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Financial Status Bank Owned: No
  • 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: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Median
  • State Province: FL
  • Taxes: 9203.00
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Vehicle Storage Cars: 2
  • Year Built: 1933
  • Alternate Key Number: 1032255
  • Cooling Heating: Ceiling Fans(s), Wall/Window Unit(s)
  • Lot Sq Ft: 5000.00
  • Porch Balcony: Open Porch/Balcony
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 3144.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Attribution Contact: 305-395-2360
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Built-in Cabinets, Split Bedroom, Storage
  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Appliances: Range, Refrigerator
  • Floor: Tile
  • Windows/Doors: Single Hung Windows
  • Total Bedrooms: 8
  • Sq Ft Remarks: Buyer To Verify Square Footage

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Fencing, Storage, Privacy Wall/Fence, Fruit Tree(s)
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Utilities: Buyer to Verify, Municipal Sewer, FKAA, Elect Separate Meter

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: 0.2 PCT ANNUAL CHANC
  • Parcel Number: 00031470-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.11

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2019

Multi Family

  • Total Units: 4.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 8, 2021
Closed on
Jul 7, 2021
Sold by
Sheldon Frank Lee
Bought by
Kw Plumbago
Seller's Agent
Team Spottswood/Vazquez
Truman & Co. (KW)
Buyer's Agent
Bobby Coe
RE/MAX Keys Connection (KW)
List Price
$1,999,900
Sold Price
$1,650,000
Premium/Discount to List
-$349,900
-17.5%
Total Days on Market
50
Current Estimated Value
$2,230,883

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$580,883
Avg. Annual Appreciation
8.17%
Original Mortgage
$1,320,000
Outstanding Balance
$1,211,925
Interest Rate
2.98%
Estimated Equity
$1,018,958

Purchase Details

Closed on
Oct 21, 1998
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Feb 1, 1993
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Dec 1, 1989
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Dec 1, 1987
Bought by
Sheldon Frank Lee

Purchase Details

Closed on
Oct 1, 1977
Bought by
Sheldon Frank Lee

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Similar Homes in Key West, FL

  • 905 Grinnell St, Key West, FL 33040

    $2,300,000

    • 8 Beds
    • 4 Baths
    • 3,383 Sq Ft
    • 905 Grinnell St
    • Key West, FL

    BIG TIME INVESTMENT OPPORTUNITY in the heart of the Historic District of Key West. Originally built as a former church, this 4 unit active rental property offers 3,383 square feet of living space, featuring 8 bedrooms and 4 bathrooms, and currently generates $10,908.50 in monthly rental income. (See below for a breakdown of beds and baths per unit) With versatile possibilities, it has the

    Team Kaufelt Truman & Co. (KW)

    Section Image
  • 912 Pohalski St, Key West, FL 33040

    $2,788,000

    • 6 Beds
    • 6 Baths
    • 3,876 Sq Ft
    • 912 Pohalski St
    • Key West, FL

    Unlock the potential of this exceptional multifamily complex nestled in the heart of Old Town Key West. With a total of six units offering a diverse mix of layouts, including three 1-bedroom/1-bathroom units, two 2-bedroom/1-bathroom units, and one 3-bedroom/1-bathroom unit, this property presents an unparalleled investment opportunity in one of the most coveted destinations in the Florida Keys.

    Richard Haskins Buy The Keys

    Section Image
  • 506 Frances St, Key West, FL 33040

    $2,300,000

    • 6 Beds
    • 4 Baths
    • 2,671 Sq Ft
    • 506 Frances St
    • Key West, FL

    Nestled on one of the most coveted blocks in Key West, this exceptional property in the Historic District is brimming with character and untapped potential. Currently configured as four distinct apartments - (A) 2BR/1BA, (B) 2BR/2BA, (C) Studio/1BA, and (D) 1BR/1BA - totaling 2,671 sq. ft., each unit features its own private outdoor space, a well-appointed kitchen, ample storage, and high

    Team Kaufelt Truman & Co. (KW)

    Section Image
  • 1609 United St, Key West, FL 33040

    $2,399,000

    • 6 Beds
    • 5 Baths
    • 2,570 Sq Ft
    • 1609 United St
    • Key West, FL

    This mid-town multi-family home offers a remarkable living experience. Designed for comfort and privacy, it features 2 distinct apartments, each w/its own charm & functionality & it can become a 30 day vacation rental w/appropriate licensing. Downstairs: 2 spacious bedrooms & 2 well-appointed bathrooms. The Master has a walk-in closet system, a built-in office; the large Master bath a spacious

    Andrea Weitz Island Life Realty Experts

    Section Image
  • 1821 Harris Ave, Key West, FL 33040

    $1,995,000

    • 9 Beds
    • 7 Baths
    • 3,687 Sq Ft
    • 1821 Harris Ave
    • Key West, FL

    Triplex with Stunning Rent Roll ($187,200/year)- This income-producing triplex features three well-maintained units, each offering 3 bedrooms and 2 bathrooms. The front unit, originally larger than the rear units and spans one level--ideal for tenants seeking single-story living. The rear units are two-story layouts, with bedrooms and baths upstairs and kitchen/living areas on the main level.

    Kayley Arn Coldwell Banker Realty - Aventura

    Section Image
  • 1621 Josephine St, Key West, FL 33040

    $1,701,000

    • 8 Beds
    • 4 Baths
    • 3,200 Sq Ft
    • 1621 Josephine St
    • Key West, FL

    Prime 2 duplexes, each a 2/1 up & 2/1 down for a total of 8 bedrooms, 4 baths. Each unit has a generous covered porch extending the living area to the outdoors. Behind and between the 2 buildings is vacant land, room for a pool or outdoor storage, etc. Off-street parking for 4 cars. There's a lovely specimen Buttonwood tree at the entry to the property. A good investment for owner occupancy and

    Jeffrey Dunaway Key West Realty, LLC (KW)

    Section Image
See All Homes in Key West

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
Kw Plumbago $1,650,000 None Available
Sheldon Frank Lee -- --
Sheldon Frank Lee $100,000 --
Sheldon Frank Lee $145,000 --
Sheldon Frank Lee $100,000 --
Sheldon Frank Lee $52,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kw Plumbago $1,320,000
Previous Owner Sheldon Frank L $975,000
Previous Owner Sheldon Frank Lee $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/07/2021 07/07/21 Sold $1,650,000 -8.3% $525 / Sq Ft
04/27/2021 04/27/21 Pending -- -- --
04/14/2021 04/14/21 Price Changed $1,799,000 -1.4% $572 / Sq Ft
03/18/2021 03/18/21 Price Changed $1,825,000 -8.7% $580 / Sq Ft
03/08/2021 03/08/21 For Sale $1,999,900 -- $636 / 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
2024 $13,561 $1,628,814 $749,063 $879,751
2023 $13,561 $1,398,507 $530,625 $867,882
2022 $12,825 $1,337,409 $457,500 $879,909
2021 $9,062 $839,477 $379,688 $459,789
2020 $9,204 $860,684 $395,625 $465,059
2019 $9,366 $872,684 $397,100 $475,584
2018 $9,163 $834,859 $348,750 $486,109
2017 $8,921 $793,664 $0 $0
2016 $10,348 $930,860 $0 $0
2015 $9,894 $868,360 $0 $0
2014 $9,241 $732,196 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Team Spottswood/Vazquez

    Seller's Agent in 2021

    Team Spottswood/Vazquez

    Truman & Co. (KW)

    (305) 395-1777

    121 in this area

    355 Total Sales

    Team Spottswood/Vazquez
    Section Image
  • Terri Spottswood

    Seller Co-Listing Agent in 2021

    Terri Spottswood

    Truman & Co. (KW)

    (305) 395-2360

    122 in this area

    353 Total Sales

    Terri Spottswood
    Section Image
  • Bobby Coe

    Buyer's Agent in 2021

    Bobby Coe

    RE/MAX

    (305) 363-9665

    39 in this area

    134 Total Sales

    Bobby Coe
    Section Image

  • B

    Buyer's Agent in 2021

    Bobby Coe IV

    Coastal Collection Real Estate Inc.

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 595069

Florida Keys Board of REALTORS®

APN: 00031470-000000

Florida Monroe County Key West 33040 Old Town

1128 Packer St, Key West, FL

Homes for Sale in Key West, FL

This home is located at 1128 Packer St, Key West, FL 33040 since 08 March 2021 and is currently estimated at $2,230,883, approximately $709 per square foot. This property was built in 1933. 1128 Packer 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.

Florida Keys Board 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.

Nearby Homes