$2,625,000
SOLD JUL 21, 2025

124 Palermo Dr Islamorada, FL 33036

4 Beds
3 Baths
2,229 Sq Ft
7,000 Sq Ft Lot

Recently Sold

$1,178 Per Sq Ft

11% Below List Price

49 Days on Market

Highlights

  • In Ground Pool
  • Home fronts a canal
  • Balcony
  • Plantation Key School Rated A-
  • Furnished
  • 1-minute walk to Founders Park

About This Home

As of July 2025

OPEN TODAY JUNE 16, 4-5:30PM!! Welcome to your turn-key waterfront oasis in the heart of the Florida Keys! This beautifully updated 4-bedroom, 3-bath concrete home captures the essence of island living, offering direct access to both the bayside and oceanside--truly a boater's paradise. The expansive freshly painted concrete dock provides plenty of room for all your watercraft, whether you're heading out for a day of fishing or cruising the turquoise waters. Completely updated and tastefully furnished in 2024, this residence blends modern coastal design with solid construction. A brand-new stucco finish and full exterior paint give the home a fresh, crisp look. Most windows and doors are impact rated and all are paired with new roll-down and accordion shutters, delivering peace of mind year-round. Inside, you'll find a gorgeous, fully renovated kitchen and bathrooms with high-end finishes that reflect the relaxed elegance of Keys living. The open layout flows easily to the outdoors, where a brand-new heated and chilled pool with spa invites you to unwind canal-side. The shaded summer kitchen and BBQ area are ideal for entertaining, and the low-maintenance artificial turf adds a lush, polished look without the upkeep. A large air-conditioned tackle shed offers plenty of space for fishing gear, tools, or hobbies. Upstairs, the main living area includes three bedrooms and two baths, while the lower level features a permitted bath and bedroom plus a kitchenette and flexible office space -- perfect for hosting extended family or weekend visitors. Must see! Meticulously maintained, move-in ready, and thoughtfully designed for both relaxation and recreation--this is island living done right. Don't miss the chance to own a slice of paradise!

Last Agent to Sell the Property

Christy Hughes

Coldwell Banker Schmitt Islamorada License #3265558 Listed on: 05/07/2025

Coldwell Banker Schmitt Islamorada

Last Buyer's Agent

outside of mls

Outside Of MLS

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $15,173

Year Built

  • Built in 1973 | Remodeled

Lot Details

  • 7,000 Sq Ft Lot
  • Home fronts a canal
  • Property is zoned R1 - Residential Single Family

HOA Fees

  • $13 Monthly HOA Fees

Home Design

  • Concrete Roof
  • Pre-Cast Concrete Construction

Interior Spaces

  • 2,229 Sq Ft Home
  • Furnished
  • Canal Views

Kitchen

  • Oven
  • Microwave
  • Freezer
  • Ice Maker
  • Dishwasher

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Laundry

  • Dryer
  • Washer

Home Security

  • Complete Accordion Shutters
  • Impact Glass

Outdoor Features

  • In Ground Pool
  • Balcony
  • Screened Patio

Utilities

  • Central Air
  • Public Hookup Available For Sewer

Community Details

  • Association fees include common area mnt
  • Venetian Shores Subdivision
  • Rental Restrictions

Listing and Financial Details

  • Minimum Rental Period: 28
  • Assessor Parcel Number 00406050-000000

Home Details

Home Type

Single Family

Est. Annual Taxes

$15,173

Year Built

Built in 1973 | Remodeled

Lot Details

0

HOA Fees

$13 per month

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • First Right of Refusal: No
  • Association Fee: 150.00
  • Mandatory HOA: No
  • Voluntary HOA: Yes
  • Fee Includes: Common Area Mnt
  • Key Island: Plantation Key
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 86.00
  • Min Rental Days: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Bay/Gulf
  • State Province: FL
  • Taxes: 15173.19
  • Year Built: 1973
  • Alternate Key Number: 1498271
  • Cooling Heating: Central Air
  • Lot Sq Ft: 7000.00
  • Pool Info: In Ground
  • Porch Balcony: Open Porch/Balcony, Screened Patio
  • Association Maintenance Fee Per: Yearly
  • Shutters: Accordion, Roll Down Manual
  • Tax Exemptions: None
  • Building Style Above Flood: No
  • Estimated Living Sq Ft: 2229.00
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • Appliances: Washer, Ice Machine, Gas Appliances, Freezer, Microwave, Oven, Refrigerator, Dishwasher, Dryer
  • Floor: Tile, Laminate
  • Windows/Doors: Other Windows/Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 4
  • Sq Ft Remarks: buyer to verify

Exterior Features

  • Waterfront: Canal Front
  • Waterfront: Yes
  • Construction: Concrete
  • Roof: Concrete Roof
  • Waterview: Canal View
  • Pool: Yes

Utilities

  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: No
  • Flood Zone: AE
  • Parcel Number: 00406050-000000
  • Lot Size: 70 x 100
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.16

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Furnished

Tax Info

  • Tax Year: 2024

Multi Family

  • Total Units: 1.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 7, 2025
Closed on
Jul 21, 2025
Sold by
R & D Real Estate Ventures Llc
Bought by
124 Palermo Holdings Llc
Seller's Agent
Christy Hughes
Coldwell Banker Schmitt Islamorada
Buyer's Agent
outside of mls
Outside Of MLS
List Price
$2,950,000
Sold Price
$2,625,000
Premium/Discount to List
-$325,000
-11.02%
Views
199
Current Estimated Value
$2,602,216

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$22,784
Avg. Annual Appreciation
-1.84%

Purchase Details

Closed on
Nov 3, 2023
Sold by
Moore Richard
Bought by
R & D Real Estate Ventures Llc

Purchase Details

Listed on
Jan 26, 2023
Closed on
Apr 18, 2023
Sold by
Lowell Anne-Marie
Bought by
Moore Richard and Doyon Diana
Seller's Agent
Christy Hughes
Coldwell Banker Schmitt Islamorada
Buyer's Agent
Terri Bodker
Ocean Bay Realty of the Keys
List Price
$2,400,000
Sold Price
$2,050,000
Premium/Discount to List
-$350,000
-14.58%
Views
53

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.13%

Purchase Details

Closed on
Aug 23, 1999
Sold by
Traeger Howard B and Traeger Laura L
Bought by
Lowell Richard and Lowell Anne-Marie

Purchase Details

Closed on
May 1, 1993
Bought by
Lowell Richard and Lowell Anne-Marie
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Type Sale Price Title Company
Warranty Deed $2,625,000 None Listed On Document
Warranty Deed $2,625,000 None Listed On Document
Warranty Deed -- None Listed On Document
Warranty Deed $2,050,000 None Listed On Document
Warranty Deed $285,000 --
Warranty Deed $150,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $85,000 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/21/2025 07/21/25 Sold $2,625,000 -5.9% $1,178 / Sq Ft
06/25/2025 06/25/25 Pending -- -- --
06/07/2025 06/07/25 Price Changed $2,790,000 -5.4% $1,252 / Sq Ft
05/07/2025 05/07/25 For Sale $2,950,000 +43.9% $1,323 / Sq Ft
04/18/2023 04/18/23 Sold $2,050,000 -4.7% $920 / Sq Ft View Prior Sale
03/17/2023 03/17/23 Price Changed $2,150,000 -4.4% $965 / Sq Ft
03/01/2023 03/01/23 Price Changed $2,250,000 -6.3% $1,009 / Sq Ft
01/26/2023 01/26/23 For Sale $2,400,000 -- $1,077 / 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
2025 $15,173 $1,891,290 $1,330,000 $561,290
2024 $7,124 $1,651,509 $1,134,000 $517,509
2023 $7,124 $774,160 $0 $0
2022 $7,026 $751,612 $0 $0
2021 $7,104 $729,721 $0 $0
2020 $7,043 $719,646 $0 $0
2019 $6,471 $648,294 $0 $0
2018 $6,303 $636,207 $0 $0
2017 $6,041 $623,122 $0 $0
2016 $6,258 $610,306 $0 $0
2015 $6,102 $606,064 $0 $0
2014 $6,072 $598,733 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Florida Keys Board of REALTORS®

MLS Number: 614934

Florida Keys Board of REALTORS®

APN: 00406050-000000