1500 Ocean Bay Dr Unit S3 Key Largo, FL 33037
3
Beds
3
Baths
925
Sq Ft
$625/mo
HOA Fee
Highlights
- Ocean Front
- Boat Ramp
- In Ground Pool
- Coral Shores High School Rated A
- Gated with Attendant
- 1-minute walk to Schwingggg
About This Home
As of June 2025Are you ready to enjoy some relaxation & fun in the beautiful Keys? This home has a fabulous vacation rental history (Jan 1, 2021 thru future rentals as of 7/23/21=$88,442!!) & is a real cash flow machine or just make it your home! Or both, enjoy it yourselves & rental income when you are not using it. Being offered fully furnished, turn-key, & with many future vacation rental reservations with deposits in place! This island home is located in the heart of Key Largo, backing up to John Pennekamp Coral Reef State Park & Molasses Reef. This is a spacious & well laid out 3-story townhouse in the beautiful private gated resort like community of Kawama, located on the ocean side of the island about mile marker 100. Once you are on the property, experience a beautiful saltwater swimming lagoon with beach, 2 beautiful swimming pools, tennis courts, and a long jetty right into the ocean. This townhouse is very tastefully decorated in a coastal style with comfortable furniture and coastal colors.3 Floors of family living. Hurricane Impact windows & doors. Great entry and family hangout also beautifully decorated. There is a Bedroom on the lower level and a full bath. Main living area has lovely kitchen with Corian counter tops, a full bathroom, with open dining and living area looking onto a porch, which has shaded area from the outside trees and give a picturesque view of the entire area. There's 2 more roomy bedrooms on the top floor, with a full bath. This is truly a home for the whole family and friends. A weekend place or a spot to call home fulltime. The complex features 2 pools, tennis courts, guarded gate, an attached marina and lots of activities to keep you busy. The downstairs recreation room is designed for kids (and also kids at heart), with an arcade game and Wii for the family to enjoy! The arcade game has 1600+ games including Atari, Sega and Nintendo games.
Last Agent to Sell the Property
Robert Slack LLC License #0518284 Listed on: 07/26/2021
Last Buyer's Agent
American Caribbean Real Estate, Christie's International Real Estate License #0703307
Townhouse Details
Home Type
- Townhome
Est. Annual Taxes
- $1,196
Year Built
- Built in 1983 | Remodeled
HOA Fees
- $625 Monthly HOA Fees
Property Views
- Ocean
- Lake
Home Design
- Metal Roof
Interior Spaces
- 925 Sq Ft Home
- Furnished
- Ceiling Fan
- Blinds
- Tile Flooring
Kitchen
- Oven
- Range
- Microwave
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Full Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Home Security
Parking
- Guest Parking
- Open Parking
Pool
- In Ground Pool
- Pool Deck
Utilities
- Central Air
- Ductless Heating Or Cooling System
- Heat Pump System
- Separate Meters
- Public Hookup Available For Sewer
- Cable TV Available
Additional Features
- Screened Balcony
- Ocean Front
Listing and Financial Details
- Minimum Rental Period: 7
- Assessor Parcel Number 00090493-005500
Community Details
Overview
- $280 Maintenance Fee
- Association fees include bldg exterior mnt, security, sewer, common area mnt, cable, building insurance
- 67 Units
- Kawama Subdivision
- The community has rules related to deed restrictions
- Rental Restrictions
Recreation
- Boat Ramp
- Boat Dock
- Tennis Courts
- Community Pool
Pet Policy
- Pet Restriction: YES
Security
- Gated with Attendant
- Impact Glass
- Fire and Smoke Detector
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 9, 2025
Closed on
Jun 4, 2025
Sold by
White Terrence and White Laura
Bought by
Jackson William
Seller's Agent
Lorie Leal
American Caribbean Real Estate, Christie's International Real Estate
Buyer's Agent
outside mls - FKBR
Outside Of MLS - FKBR
List Price
$825,000
Sold Price
$800,000
Premium/Discount to List
-$25,000
-3.03%
Views
10
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.91%
Original Mortgage
$560,000
Outstanding Balance
$560,000
Interest Rate
6.81%
Mortgage Type
New Conventional
Estimated Equity
$244,615
Purchase Details
Listed on
Jul 26, 2021
Closed on
Sep 29, 2021
Sold by
Sloop Paul and Sloop Judith
Bought by
White Terrence and White Laura
Seller's Agent
Howard & Lily Leitner
Robert Slack LLC
Buyer's Agent
Lorie Leal
American Caribbean Real Estate, Christie's International Real Estate
List Price
$570,000
Sold Price
$555,000
Premium/Discount to List
-$15,000
-2.63%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.45%
Original Mortgage
$365,000
Interest Rate
2.5%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 29, 2020
Closed on
Mar 26, 2020
Sold by
Vazquez Joseph F and Johnston Vazquez Mary
Bought by
Sloop Paul and Sloop Judith
Seller's Agent
Wendy Ives
RE/MAX All Keys Real Estate
Buyer's Agent
Howard Leitner
Florida Keys International Realty
List Price
$396,500
Sold Price
$350,000
Premium/Discount to List
-$46,500
-11.73%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
35.98%
Original Mortgage
$306,000
Interest Rate
3.4%
Purchase Details
Closed on
Dec 28, 2005
Sold by
Vazquez Joseph F and Johnston Vazquez Mary
Bought by
Vazquez Joseph F and Johnston Vazquez Mary
Purchase Details
Closed on
Jul 9, 2001
Sold by
Luis J Ramirez I
Bought by
Vazquez Joseph F
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$121,500
Interest Rate
7.17%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 1, 1989
Bought by
Vazquez Joseph F
Purchase Details
Closed on
Apr 1, 1987
Bought by
Vazquez Joseph F
Purchase Details
Closed on
Jan 1, 1985
Bought by
Vazquez Joseph F
Purchase Details
Closed on
Apr 1, 1983
Bought by
Vazquez Joseph F
Similar Homes in the area
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
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $800,000 | Advance Partners Title | |
| Warranty Deed | $555,000 | Sunshine Title Of Keys Inc | |
| Warranty Deed | $350,000 | Attorney | |
| Interfamily Deed Transfer | -- | None Available | |
| Warranty Deed | $160,000 | -- | |
| Warranty Deed | $75,000 | -- | |
| Quit Claim Deed | $120,000 | -- | |
| Warranty Deed | $100,000 | -- | |
| Warranty Deed | $100,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $560,000 | New Conventional | |
| Previous Owner | $365,000 | New Conventional | |
| Previous Owner | $306,000 | No Value Available | |
| Previous Owner | $306,000 | New Conventional | |
| Previous Owner | $155,104 | New Conventional | |
| Previous Owner | $165,000 | Unknown | |
| Previous Owner | $50,000 | Credit Line Revolving | |
| Previous Owner | $145,000 | New Conventional | |
| Previous Owner | $121,500 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/04/2025 06/04/25 | Sold | $800,000 | -3.0% | $865 / Sq Ft |
| 04/09/2025 04/09/25 | For Sale | $825,000 | +48.6% | $892 / Sq Ft |
| 09/29/2021 09/29/21 | Sold | $555,000 | -2.6% | $600 / Sq Ft |
| 09/13/2021 09/13/21 | Pending | -- | -- | -- |
| 07/26/2021 07/26/21 | For Sale | $570,000 | +62.9% | $616 / Sq Ft |
| 03/31/2020 03/31/20 | Sold | $350,000 | -11.7% | $378 / Sq Ft |
| 01/29/2020 01/29/20 | For Sale | $396,500 | -- | $429 / Sq Ft |
Source: Florida Keys Board of REALTORS®
Tax History Compared to Growth
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 | $4,569 | $538,204 | -- | $538,204 |
| 2023 | $4,569 | $518,062 | $0 | $518,062 |
| 2022 | $4,141 | $482,813 | $0 | $482,813 |
| 2021 | $2,752 | $288,229 | $0 | $288,229 |
| 2020 | $1,196 | $136,368 | $0 | $136,368 |
| 2019 | $1,167 | $133,303 | $0 | $133,303 |
| 2018 | $1,153 | $130,818 | $0 | $0 |
| 2017 | $1,122 | $128,128 | $0 | $0 |
| 2016 | $1,126 | $125,493 | $0 | $0 |
| 2015 | $1,148 | $124,621 | $0 | $0 |
| 2014 | $1,160 | $123,632 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
L
Seller's Agent in 2025
Lorie Leal
American Caribbean Real Estate, Christie's International Real Estate
-
o
Buyer's Agent in 2025
outside mls - FKBR
Outside Of MLS - FKBR
-
H
Seller's Agent in 2021
Howard & Lily Leitner
Robert Slack LLC
-
W
Seller's Agent in 2020
Wendy Ives
RE/MAX
-
D
Seller Co-Listing Agent in 2020
Diane Loveland
RE/MAX
-
H
Buyer's Agent in 2020
Howard Leitner
Florida Keys International Realty
Map
Source: Florida Keys Board of REALTORS®
MLS Number: 597043
APN: 00090493-005500
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