NOT LISTED FOR SALE

124 Palermo Dr Islamorada, FL 33036

Estimated Value: $2,264,000 - $2,801,000

4 Beds
3 Baths
2,229 Sq Ft
$1,176/Sq Ft Est. Value

Sale Details

Date Sold: July 21, 2025

Last sale price $2,625,000 $1,178 Per Sq Ft

Current estimated payment $15,432 / mo

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

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

7,000 Sq Ft Lot

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 7, 2025
Closed on
Jul 21, 2025
Sold by
Bought by
Seller's Agent
Christy Hughes
Coldwell Banker Schmitt Islamorada
Buyer's Agent
Creative Technology
List Price
$2,950,000
Sold Price
$2,625,000
Premium/Discount to List
-$325,000
-11.02%
Views
199
Current Estimated Value
$2,620,664

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,336
Avg. Annual Appreciation
-0.18%

Purchase Details

Closed on
Nov 3, 2023
Sold by
Bought by

Purchase Details

Listed on
Jan 26, 2023
Closed on
Apr 18, 2023
Sold by
Bought by
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
8.03%

Purchase Details

Closed on
Aug 23, 1999
Sold by
Bought by

Purchase Details

Closed on
May 1, 1993
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,625,000 None Listed On Document
$2,625,000 None Listed On Document
-- None Listed On Document
$2,050,000 None Listed On Document
$285,000 --
$150,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $85,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

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