NOT LISTED FOR SALE

162 Cedar Ln Summerland Key, FL 33042

Estimated Value: $2,746,000 - $3,769,496

3 Beds
2 Baths
2,706 Sq Ft
$1,219/Sq Ft Est. Value

Last Sold May 01, 2013

Last sale price $1,000,000 $370 Per Sq Ft

Est. 230% increase in value since last sale

Current estimated payment $19,060/month

253 Days on Market

Highlights

  • Property Fronts a Bay or Harbor
  • Fruit Trees
  • No HOA
  • Gulf View
  • Wood Flooring
  • 1-minute walk to Bay Point Park Playground

About This Home

As of May 2013

Amazing Open Water Point Property with 475' of open water and canal frontage on pristine 40,299 sq. foot lot overlooking the turquoise waters of Sugarloaf Sound on South Point/Sugarloaf Shores. Gated and walled for privacy, this comfortable home features CBS construction, extensive concrete docks with two sets of davits, step down dock, and covered fish cleaning table. Mature tropical foliage including mango, banana, and Royal Poinciana trees, sprinkler system, and much, much more.

Last Agent to Sell the Property

Allan Leder

Preferred Properties (KW) License #590720 Listed on: 06/04/2012

Co-Listed By

Elizabeth Chamberlain

Truman & Co. (KW) License #658990

Last Buyer's Agent

Karen Carter

Coldwell Banker Schmitt Real Estate Co. (KW) License #3049659

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $9,850

Year Built

  • Built in 1978

Lot Details

  • 0.93 Acre Lot
  • Property Fronts a Bay or Harbor
  • Home fronts a canal
  • Privacy Fence
  • Sprinkler System
  • Fruit Trees
  • Property is zoned IS - Improved Subivision District

Property Views

  • Gulf
  • Canal

Home Design

  • Shingle Roof

Interior Spaces

  • 2,706 Sq Ft Home
  • Elevator
  • Ceiling Fan
  • Blinds
  • Sliding Doors
  • Workshop
  • Storage
  • Utility Room

Kitchen

  • Oven
  • Range
  • Dishwasher
  • Built-In or Custom Kitchen Cabinets

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 4 Car Attached Garage
  • Off-Street Parking

Accessible Home Design

  • Handicap Accessible

Outdoor Features

  • Davits
  • Screened Balcony
  • Exterior Lighting
  • Outdoor Storage
  • Rain Gutters

Utilities

  • Central Air
  • Cooling System Mounted To A Wall/Window
  • Septic Tank

Community Details

  • No Home Owners Association
  • Sugarloaf Shores Subdivision

Listing and Financial Details

  • Homestead Exemption
  • Assessor Parcel Number 00166976-001300

Home Details

Home Type

Single Family

Est. Annual Taxes

$9,850

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Approval Required: No
  • Mandatory HOA: No
  • Control Depth: 3
  • Dockage Dock: Other
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Handicap Access: Yes
  • Key Island: Sugarloaf Key
  • K W Neighborhood: Outside of Key West
  • Mile Marker: 16.90
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Seller Finance
  • Side: Ocean
  • State Province: FL
  • Taxes: 9849.88
  • Title: Negotiable
  • Vehicle Storage: Attached, Off Street Parking, Garage, Covered Parking
  • Vehicle Storage Cars: 4+
  • Year Built: 1978
  • Alternate Key Number: 1214477
  • Building Style Stilt Column Height: LZVZI459X2Q
  • Cooling Heating: Ceiling Fans(s), Wall/Window Unit(s), Central Air
  • Lot Sq Ft: 40299.00
  • Porch Balcony: Screened P/B
  • Shutters: Other
  • Tax Exemptions: Homestead
  • Estimated Living Sq Ft: 2706.00
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Built-in Cabinets, Storage, Window Treatments, Other, Drapes/Blinds Incl, Elevator
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Dishwasher, Washer, Range, Refrigerator, Oven, Dryer
  • Floor: Combo, Wood, Tile
  • Specialty Rooms: Laundry Room, Utility Room, Workshop
  • Windows/Doors: Sliding Glass Doors
  • Total Bedrooms: 3
  • Accessibility Features: Other See Remarks

Exterior Features

  • Dockage: Davits
  • Waterfront: Bay Front, Open Water, Canal Front
  • Waterfront: Yes
  • Construction: CBS
  • Exterior Features: Fruit Tree(s), Sprinkler System, Storage, Privacy Wall/Fence, Rain Gutters, Lighting
  • Roof: Shingle Roof
  • Waterview: Bay/Gulf View, Open Water View, Canal View
  • Pool: No

Utilities

  • Utilities: FKAA, Septic Tank

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE
  • Parcel Number: 00166976-001300
  • Lot Size: Irreg.
  • Land Size: 1/2 - Less Than 1 AC
  • Acres: 0.93

Rental Info

  • Furnished: Negotiable

Tax Info

  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 4, 2012
Closed on
May 1, 2013
Sold by
Svaasand Lars and Svaasand Elsie O
Bought by
Bailey Patrick
Seller's Agent
Allan Leder
Preferred Properties (KW)
Buyer's Agent
Karen Carter
Coldwell Banker Schmitt Real Estate Co. (KW)
List Price
$1,499,000
Sold Price
$1,000,000
Premium/Discount to List
-$499,000
-33.29%
Current Estimated Value
$3,298,374

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,298,374
Avg. Annual Appreciation
10.06%
Original Mortgage
$600,000
Outstanding Balance
$427,259
Interest Rate
3.59%
Mortgage Type
Seller Take Back
Estimated Equity
$2,871,115

Purchase Details

Closed on
Jun 1, 1984
Bought by
Bailey Patrick

Purchase Details

Closed on
Nov 1, 1978
Bought by
Bailey Patrick
Source: Public Records

Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Bailey Patrick $1,000,000 First Intl Title Inc
Bailey Patrick $210,000 --
Bailey Patrick $117,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bailey Patrick $600,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/01/2013 05/01/13 Sold $1,000,000 -33.3% $370 / Sq Ft
02/12/2013 02/12/13 Pending -- -- --
06/04/2012 06/04/12 For Sale $1,499,000 -- $554 / 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
2024 $21,145 $3,016,364 $2,203,085 $813,279
2023 $21,145 $3,005,827 $2,245,024 $760,803
2022 $18,281 $2,370,553 $1,600,793 $769,760
2021 $17,025 $1,895,581 $1,172,139 $723,442
2020 $15,320 $1,617,824 $1,049,416 $568,408
2019 $15,916 $1,675,070 $1,101,259 $573,811
2018 $15,787 $1,647,514 $1,113,830 $533,684
2017 $14,802 $1,656,797 $0 $0
2016 $14,260 $1,610,185 $0 $0
2015 $12,514 $1,198,361 $0 $0
2014 $12,040 $1,101,171 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2013

    Allan Leder

    Preferred Properties (KW)

    (305) 304-7359

    21 Total Sales

    Allan Leder
    Section Image
  • Elizabeth Chamberlain

    Seller Co-Listing Agent in 2013

    Elizabeth Chamberlain

    Truman & Co. (KW)

    (305) 619-0802

    53 Total Sales

    Elizabeth Chamberlain
    Section Image

  • K

    Buyer's Agent in 2013

    Karen Carter

    Coldwell Banker Schmitt Real Estate Co. (KW)

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 116560

Florida Keys Board of REALTORS®

APN: 00166976-001300

Florida Monroe County Summerland Key 33042

162 Cedar Ln, Summerland Key, FL

This home is located at 162 Cedar Ln, Summerland Key, FL 33042 since 04 June 2012 and is currently estimated at $3,298,374, approximately $1,218 per square foot. This property was built in 1978. 162 Cedar Ln is a home located in Monroe County with nearby schools including Sugarloaf School and Key West High 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.

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.

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