NOT LISTED FOR SALE

501 3rd St Key West, FL 33040

Estimated Value: $1,042,000 - $1,306,000

2 Beds
2 Baths
1,336 Sq Ft
$859/Sq Ft Est. Value

Last Sold June 15, 2017

Last sale price $565,000 $423 Per Sq Ft

Est. 103% increase in value since last sale

Current estimated payment $6,708/month

126 Days on Market

Highlights

  • Airstrip
  • Dock made with concrete
  • Cathedral Ceiling
  • Coral Shores High School Rated A
  • Home fronts a canal
  • Wood Flooring

About This Home

As of June 2017

Beautiful STILT 1/2 DUPLEX in Prestigious KEY COLONY BEACH located very near OPEN END of canal with very short & easy access to OPEN ocean. This property is a 2B/2B, 1,336 Sq. Ft., CBS Structure with Covered Parking for 3+ cars. CAC with Tile Roof & LOTS of Storage. Rental License in place!!

Last Agent to Sell the Property

Roy Haase, P.A.

Coldwell Banker Schmitt Real Estate Co. License #688543 Listed on: 01/11/2017

Last Buyer's Agent

Lindsay Rabito-Leonard

Chaplin Real Estate, Inc.

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $4,245

Year Built

  • Built in 1989

Lot Details

  • 3,319 Sq Ft Lot
  • Home fronts a canal

Home Design

  • Half Duplex
  • Tile Roof
  • Pre-Cast Concrete Construction

Interior Spaces

  • 1,336 Sq Ft Home
  • Cathedral Ceiling
  • Ceiling Fan
  • Jalousie or louvered window
  • Blinds
  • Sliding Doors
  • Canal Views
  • Monitored

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • 4 Parking Spaces
  • Covered Parking
  • Guest Parking
  • Open Parking
  • Off-Street Parking

Outdoor Features

  • Airstrip
  • Davits
  • Seawall
  • Dock made with concrete
  • Balcony

Utilities

  • Central Air
  • Separate Meters
  • Public Hookup Available For Sewer
  • Community Sewer or Septic
  • Cable TV Available

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00072870-000000

Community Details

Overview

  • No Home Owners Association
  • Key Colony Bch 1St Addn Amd Plat Subdivision
  • The community has rules related to deed restrictions
  • Rental Restrictions

Recreation

  • Tennis Courts
  • Bike Trail

Pet Policy

  • Pets Allowed

Security

  • Complete Accordion Shutters
  • Fire and Smoke Detector

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$4,245

Year Built

Built in 1989

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Half Duplex
  • As Is Right To Inspect: Yes
  • Mandatory HOA: No
  • Voluntary HOA: No
  • Dockage Dock: Concrete
  • Dockage Seawall: Concrete
  • Fee Includes: None
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Handicap Access: No
  • Key Island: Key Colony
  • Limited Representation: Yes
  • Mile Marker: 53.50
  • Min Rental Days: 7.00
  • M L S Identifier: 20060123165453488875000000
  • Neighborhood Feature: Airstrip, Tennis Courts, Fire Hydrant, Bike Paths
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 4244.90
  • Title: Title Ins - Buyer
  • Vehicle Storage: Covered Parking, Off Street Parking, Open Parking, Guest Parking
  • Vehicle Storage Cars: 4+
  • Year Built: 1989
  • Alternate Key Number: 1076929
  • Building Style Stilt Column Height: Medium - 5Ft - 9Ft
  • Cooling Heating: Ceiling Fans(s), Heat, Central Air
  • Lot Sq Ft: 3319.00
  • Porch Balcony: Open Porch/Balcony
  • Shutters: Accordion
  • Species List: No
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Building Style Stories: 2 Stories
  • License Info Transient Rntl Licns: Yes
  • Estimated Living Sq Ft: 1336.00
  • Pre Wired: Cable
  • G F Utilities: Net Metered
  • Sewer Hook Up: Yes
  • Special Features: None
  • Property Sub Type: Townhouses
  • Stories: 2

Interior Features

  • Interior Amenities: Cathedral Ceilings, Window Treatments, Smoke Alarms, Drapes/Blinds Incl
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Dishwasher, Washer, Refrigerator, Range, Oven, Microwave, Dryer
  • Floor: Carpet, Wood, Tile, Other
  • Windows/Doors: Aluminum Windows, Sliding Glass Doors, Jalousie Windows
  • Total Bedrooms: 2
  • Accessibility Features: None

Exterior Features

  • Dockage: Davit Pads, Davits
  • Waterfront: Canal Front, Open Water
  • Waterfront: Yes
  • Construction: CBS, Concrete, Combo Construction
  • Roof: Tile Roof
  • Waterview: Canal View, Open Water View
  • Pool: No

Utilities

  • Security: Patrolled Area
  • Utilities: Buyer to Verify, Water Separate Meter, Elect Separate Meter, FKAA, Community Swr Plant, Cable Available

Lot Info

  • Deed Restrictions: Yes
  • Flood Zone: AE
  • Parcel Number: 00072870-000000
  • Lot Size: 30.0 X 110.6
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.08

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Negotiable

Tax Info

  • Tax Year: 2016

Multi Family

  • Total Units: 1.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 11, 2023
Sold by
Hines Peter F and Hines Blanche
Bought by
Hines Peter F and Hines Peter F
Current Estimated Value
$1,148,135

Purchase Details

Closed on
Nov 18, 2020
Sold by
Foster Robert S
Bought by
Hines Peter and Hines Blanche

Purchase Details

Listed on
Jan 11, 2017
Closed on
Jun 13, 2017
Sold by
Spraggins Richard and Spraggins Jolene
Bought by
Foster Robert S
Seller's Agent
Roy Haase, P.A.
Coldwell Banker Schmitt Real Estate Co.
Buyer's Agent
Lindsay Rabito-Leonard
Chaplin Real Estate, Inc.
List Price
$645,000
Sold Price
$565,000
Premium/Discount to List
-$80,000
-12.4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.60%

Purchase Details

Closed on
May 7, 2002
Sold by
Theodore J Wiley M and Susan C Wiley M
Bought by
Spraggins Richard and Spraggins Jolene

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,000
Interest Rate
7.16%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 1, 1994
Bought by
Spraggins Richard and Spraggins Jolene

Purchase Details

Closed on
Apr 1, 1990
Bought by
Spraggins Richard and Spraggins Jolene

Purchase Details

Closed on
Feb 1, 1988
Bought by
Spraggins Richard and Spraggins Jolene
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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 Buyer Sale Price Title Company
Hines Peter F -- None Listed On Document
Hines Peter F -- None Listed On Document
Hines Peter $710,000 Attorney
Foster Robert S $565,000 Attorney
Spraggins Richard $370,000 --
Spraggins Richard $195,000 --
Spraggins Richard $207,500 --
Spraggins Richard $90,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Spraggins Richard $307,200
Previous Owner Spraggins Richard $296,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/15/2017 06/15/17 Sold $565,000 -12.4% $423 / Sq Ft
05/17/2017 05/17/17 Pending -- -- --
01/11/2017 01/11/17 For Sale $645,000 -- $483 / 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 $8,446 $961,827 $618,702 $343,125
2024 $7,985 $987,453 $618,702 $368,751
2023 $7,985 $985,276 $574,744 $410,532
2022 $6,735 $716,642 $370,305 $346,337
2021 $6,139 $566,482 $228,086 $338,396
2020 $4,749 $485,215 $218,024 $267,191
2019 $4,949 $505,881 $220,182 $285,699
2018 $4,907 $479,181 $214,645 $264,536
2017 $4,399 $448,376 $0 $0
2016 $4,245 $420,872 $0 $0
2015 $3,817 $354,231 $0 $0
2014 $3,795 $342,468 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2017

    Roy Haase, P.A.

    Coldwell Banker Schmitt Real Estate Co.

  • L

    Buyer's Agent in 2017

    Lindsay Rabito-Leonard

    Chaplin Real Estate, Inc.

See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 573848

Florida Keys Board of REALTORS®

APN: 00072870-000000

Florida Monroe County Key West 33040

501 3rd St, Key West, FL

Not Listed for Sale

Townhouses

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