NOT LISTED FOR SALE

116 Madeira Rd Islamorada, FL 33036

Estimated Value: $1,602,637 - $2,881,000

6 Beds
4 Baths
3,120 Sq Ft
$726/Sq Ft Est. Value

Last Sold May 01, 2020

Last sale price $1,062,500 $341 Per Sq Ft

Est. 113% increase in value since last sale

Current estimated payment $13,125/month

32 Days on Market

Highlights

  • Gulf View
  • Home fronts a canal
  • Screened Balcony
  • Plantation Key School Rated A-
  • No HOA
  • Guest Parking

About This Home

As of May 2020

Rare waterfront multi-unit apartment building in the heart of Islamorada, walking distance to numerous businesses and restaurants. There are 2 2-bedroom apartments, 2 1-bedroom apartments, and 2 garages. Plenty of parking in the front and huge backyard overlooking a large boat basin.

Last Agent to Sell the Property

AJ Vetter

Palm House Real Estate License #3296730 Listed on: 01/16/2020

Last Buyer's Agent

AJ Vetter

Berkshire Hathaway HomeServices Keys Real Estate - Islamorada

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,853

Year Built

  • Built in 1982

Lot Details

  • 0.32 Acre Lot
  • Home fronts a canal

Property Views

  • Gulf
  • Canal

Home Design

  • 3,120 Sq Ft Home
  • Frame Construction

Kitchen

  • Oven
  • Range

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Full Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • Garage
  • Guest Parking
  • Open Parking
  • Off-Street Parking

Additional Features

  • Screened Balcony
  • Public Hookup Available For Sewer

Listing and Financial Details

  • Homestead Exemption
  • Assessor Parcel Number 00399460-000000

Community Details

Overview

  • No Home Owners Association
  • Strattons Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,853

Year Built

Built in 1982

Lot Details

0.32 Acres

Listing Details

  • Property Type: Residential
  • Style: Multi-Units
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Key Island: Upper Matecumbe Key Islamorada
  • K W Neighborhood: Outside of Key West
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 82.50
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Bay/Gulf
  • State Province: FL
  • Taxes: 10852.51
  • Vehicle Storage: Garage, Off Street Parking, Guest Parking, Open Parking, Attached
  • Year Built: 1982
  • Alternate Key Number: 1491845
  • Lot Sq Ft: 14000.00
  • Porch Balcony: Screened P/B
  • Tax Exemptions: Homestead
  • Building Style Above Flood: Unknown
  • Building Style Stories: 2 Stories
  • Estimated Living Sq Ft: 3120.00
  • Sewer Hook Up: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Appliances: Washer, Oven, Range, Refrigerator, Dryer
  • Total Bedrooms: 6

Exterior Features

  • Waterfront: Canal Front
  • Waterfront: Yes
  • Construction: Frame
  • Waterview: Bay/Gulf View, Canal View

Utilities

  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE,AE
  • Parcel Number: 00399460-000000
  • Lot Size: 100'x140'
  • Land Size: 1/4 - 1/2 Acre

Rental Info

  • Rentals Allowed: Yes

Tax Info

  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 16, 2020
Closed on
May 6, 2020
Sold by
James Berry Dennis and James Maria V
Bought by
Berg Malcolm P and Berg Chausey Dickinson
Seller's Agent
AJ Vetter
Palm House Real Estate
Buyer's Agent
AJ Vetter
Berkshire Hathaway HomeServices Keys Real Estate - Islamorada
List Price
$1,350,000
Sold Price
$1,062,500
Premium/Discount to List
-$287,500
-21.3%
Current Estimated Value
$2,265,159

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,202,659
Avg. Annual Appreciation
13.74%
Original Mortgage
$727,500
Outstanding Balance
$642,918
Interest Rate
3.5%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,622,242

Purchase Details

Listed on
Apr 1, 2017
Closed on
Oct 12, 2017
Sold by
2017 By Zing Inc
Bought by
Berry Dennis James
Seller's Agent
Leslie Leopold
Ocean Sotheby's International Realty
Buyer's Agent
AJ Vetter
Berkshire Hathaway HomeServices Keys Real Estate - Islamorada
List Price
$955,000
Sold Price
$850,000
Premium/Discount to List
-$105,000
-10.99%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.15%
Original Mortgage
$743,525
Interest Rate
3.82%
Mortgage Type
VA

Purchase Details

Closed on
Apr 20, 2017
Sold by
Demoss Thomas W and Demoss Marlo W
Bought by
Sena Phillip

Purchase Details

Closed on
Feb 29, 2016
Sold by
Bradman Solomon L and Bradman Alina
Bought by
Lange Properties Llc

Purchase Details

Closed on
Jan 6, 2010
Sold by
Sena Phillip
Bought by
1940 Ocean Ave Llc

Purchase Details

Closed on
Mar 15, 2004
Sold by
Frank Lawrence G and Pickles Richard L
Bought by
Sunset Bay Partners

Purchase Details

Closed on
Feb 13, 2003
Sold by
Ayers C Donald
Bought by
Sunset Bay Partners

Purchase Details

Closed on
Jan 23, 2003
Sold by
Alsterda R Scott and Widmer William A
Bought by
Ayers C Donald

Purchase Details

Closed on
Jun 12, 1994
Sold by
Werner Mia
Bought by
Shafer James E and Shafer Evelyn T

Purchase Details

Closed on
Jul 1, 1993
Sold by
Willingham W Joseph
Bought by
Zing Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$245,000
Interest Rate
7.52%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 25, 1993
Sold by
Pickles Mary Ellen
Bought by
Pickles Richard L
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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

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
Berg Malcolm P $1,062,500 None Listed On Document
Berry Dennis James $850,000 Coral Reef Title Co
Sena Phillip $195,000 Coral Reef Title Co
Lange Properties Llc $225,000 Florida Title Of The Keys
1940 Ocean Ave Llc $835,000 Coral Reef Title Company
Sunset Bay Partners $43,900 --
Sunset Bay Partners -- --
Ayers C Donald $45,000 --
Shafer James E $69,000 --
Zing Inc $345,000 --
Pickles Richard L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Berg Malcolm P $727,500
Previous Owner Berry Dennis James $743,525
Previous Owner Zing Inc $245,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/01/2020 05/01/20 Sold $1,062,500 -21.3% $341 / Sq Ft
02/17/2020 02/17/20 Pending -- -- --
01/16/2020 01/16/20 For Sale $1,350,000 +58.8% $433 / Sq Ft
10/12/2017 10/12/17 Sold $850,000 -11.0% $272 / Sq Ft View Prior Sale
07/12/2017 07/12/17 Pending -- -- --
04/01/2017 04/01/17 For Sale $955,000 -- $306 / Sq Ft
Source: Florida Keys Board of REALTORS®

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 $16,072 $1,843,467 $1,348,529 $494,938
2024 $15,502 $1,841,551 $1,348,529 $493,022
2023 $15,502 $1,774,570 $1,285,193 $489,377
2022 $14,451 $1,566,555 $1,071,434 $495,121
2021 $11,691 $810,331 $443,352 $366,979
2020 $10,915 $726,471 $443,352 $283,119
2019 $10,853 $705,539 $418,600 $286,939
2018 $10,270 $660,824 $367,080 $293,744
2017 $10,175 $710,499 $0 $0
2016 $9,763 $592,242 $0 $0
2015 $9,184 $547,494 $0 $0
2014 $8,962 $529,834 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • AJ Vetter

    Seller's Agent in 2020

    AJ Vetter

    Palm House Real Estate

    (305) 304-8841

    72 in this area

    120 Total Sales

    AJ Vetter
    Section Image
  • Leslie Leopold

    Seller's Agent in 2017

    Leslie Leopold

    Ocean Sotheby's International Realty

    (305) 942-0215

    56 in this area

    68 Total Sales

    Leslie Leopold
    Section Image
  • Cheri Tindall

    Seller Co-Listing Agent in 2017

    Cheri Tindall

    Ocean Sotheby's International Realty

    (305) 664-7661

    38 in this area

    41 Total Sales

    Cheri Tindall
    Section Image
See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 589206

Florida Keys Board of REALTORS®

APN: 00399460-000000

Florida Monroe County Islamorada 33036

116 Madeira Rd, Islamorada, FL

Not Listed for Sale

MultiFamily

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
Your Personal Tour Guide

Ask me questions while you tour the home.