$1,025,000
$110K PRICE DROP

1227 20th Terrace Key West, FL 33040

New Town Neighborhood

Estimated payment $5,993/month

Total Views 12,508
4 Beds
2 Baths
1,510 Sq Ft
$679 Price per Sq Ft

About This Home

BIG PRICE IMPROVEMENT!*Seller Motivated, told us to bring all Offers. 3/1 with a guest cottage/office space at rear of property with private full bath and kitchenette. 4/2 with cottage.Huge lot with incredible area for big a beautiful pool!This is a perfect family 3/1 home in one of the best New Town neighborhoods. This fully gated home sits on a massive 7000 sf oversized lot and is completely move-in ready. The home boasts three bedrooms and one bath. The floor plan in the kitchen and living area flows perfectly for open living. Glass French doors open to the back patio (that could be enclosed for Florida room) and look out at the massive green lawn and native trees. The large back yard is perfect for expansion or creating your very own tropical oasis. Set back in complete privacy is a beautiful guest suite/office space with bath. The side yard with an additional privacy fence is perfect boat parking. This property is a must see!Occupied so must allow 24 hour notice.

Listing Agent

Wade Meyer

Real Estate Management of Key West, LLC License #3275505 Listed on: 03/24/2025

Map

Home Details

Home Type

Single Family

Est. Annual Taxes

$6,963

Year Built

1963

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Key Island: Key West
  • K W Neighborhood: New Town
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 4.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Side: Median
  • State Province: FL
  • Taxes: 7253.21
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Year Built: 1963
  • Alternate Key Number: 1055883
  • Building Style: Ground Level
  • Cooling Heating: Central Air, Ductless, Ceiling Fans(s)
  • Lot Sq Ft: 7183.00
  • Porch Balcony: Open Porch/Balcony, Patio
  • Shutters: Bahama
  • Tax Exemptions: None
  • Building Style Above Flood: No
  • Estimated Living Sq Ft: 1510.00
  • Pre Wired: Cable
  • Financial Status Standard Sale: Yes
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Smoke Alarms
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Washer, Stainless Steel Appliance(s), Ice Machine, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Tile
  • Specialty Rooms: Other
  • Windows/Doors: French Doors, Awning Windows
  • Total Bedrooms: 4

Exterior Features

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

Utilities

  • Utilities: FKAA, Cable Available, Buyer to Verify
  • Heating: Central, Ductless

Lot Info

  • Deed Restrictions: No
  • Flood Zone: AE
  • Parcel Number: 00055300-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.16

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2024

Multi Family

  • Total Units: 1.00

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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 $6,963 $822,644 $581,751 $240,893
2023 $6,963 $811,908 $581,751 $230,157
2022 $6,136 $689,406 $453,894 $235,512
2021 $3,671 $411,014 $0 $0
2020 $3,609 $405,340 $0 $0
2019 $3,554 $396,227 $0 $0
2018 $3,547 $388,840 $0 $0
2017 $3,529 $380,843 $0 $0
2016 $3,757 $391,180 $0 $0
2015 $3,564 $361,385 $0 $0
2014 $3,308 $305,259 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/02/2025 08/02/25 Price Changed $1,025,000 -4.2% $679 / Sq Ft
07/07/2025 07/07/25 Price Changed $1,070,000 -2.6% $709 / Sq Ft
05/20/2025 05/20/25 Price Changed $1,099,000 -3.2% $728 / Sq Ft
03/24/2025 03/24/25 For Sale $1,135,000 +49.3% $752 / Sq Ft
10/26/2021 10/26/21 Sold $760,000 +1.5% $788 / Sq Ft
09/10/2021 09/10/21 Pending -- -- --
09/04/2021 09/04/21 For Sale $749,000 +70.7% $777 / Sq Ft
06/30/2016 06/30/16 Sold $438,750 -4.4% $455 / Sq Ft
05/04/2016 05/04/16 Pending -- -- --
05/03/2016 05/03/16 For Sale $459,000 -- $476 / Sq Ft
Source: Key West Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $760,000 Attorney
Warranty Deed $438,750 First International Title In
Interfamily Deed Transfer -- Attorney
Warranty Deed $99,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $787,360 VA
Previous Owner $413,000 Balloon
Source: Public Records

Source: Key West Association of REALTORS®

MLS Number: 614352

Key West Association of REALTORS®

APN: 00055300-000000

Florida Monroe County Key West 33040 New Town

1227 20th Terrace, Key West, FL

This home is located at 1227 20th Terrace, Key West, FL 33040 and is currently priced at $1,025,000, approximately $678 per square foot. This property was built in 1963. 1227 20th Terrace is a home located in Monroe County with nearby schools including Poinciana Elementary School, Key West High School, and Sigsbee Charter 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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Wade Meyer
Listing Agent
Wade Meyer
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Real Estate Management of Key West, LLC
(305) 432-6373