NOT LISTED FOR SALE

501 E Ocean Dr Unit 28 Key Colony Beach, FL 33051

Estimated Value: $607,000 - $832,000

2 Beds
2 Baths
1,000 Sq Ft
$1,000/mo HOA Fee

Last Sold September 28, 2023

Last sale price $790,000 $790 Per Sq Ft

Est. 8% decrease in value since last sale

Current estimated payment $5,119/month

35 Days on Market

Highlights

  • Ocean Front
  • New Construction
  • Balcony
  • Coral Shores High School Rated A
  • Concrete Pool
  • Attached Garage

About This Home

As of September 2023

Newly constructed Double Master, En-Suite Condo in beautiful Key Colony Beach Club! Property is on the top level, 3rd unit away from the Ocean with a Beautiful View! Features: Kitchen Island floor plan with custom glass backsplash and crown molding throughout, Double sink in primary bathroom, Large balcony accessible from the family room & one of the master bedrooms with Beach and Ocean views, All appliances plus washer/dryer included, Assigned 2 car parking under building and private storage, And so much more .....Motivated sellers are ready to negotiate!

Last Agent to Sell the Property

Doug Addeo

Regional Trust Corporation License #559732 Listed on: 07/06/2023

Last Buyer's Agent

Non Res Agent

Non Res Member

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,029

Year Built

  • Built in 2022 | New Construction

Lot Details

  • 2

HOA Fees

  • $1,000 Monthly HOA Fees

Parking

  • Attached Garage

Home Design

  • Insulated Concrete Forms
  • Metal Roof
  • Pre-Cast Concrete Construction

Interior Spaces

  • 1,000 Sq Ft Home
  • Laminate Flooring
  • Ocean Views

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Home Security

Pool

  • Concrete Pool
  • In Ground Pool

Utilities

  • Central Air
  • Heat Pump System
  • Public Hookup Available For Sewer
  • Cable TV Available

Additional Features

  • Balcony
  • Ocean Front

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00073990-002800

Community Details

Overview

  • Association fees include cable, common area mnt, building insurance, bldg exterior mnt, water, exterminating
  • 32 Units
  • Key Colony Bch Club Subdivision
  • The community has rules related to deed restrictions
  • Rental Restrictions

Pet Policy

  • Pets Allowed
  • Pet Restriction: YES

Security

  • Impact Glass

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,029

Year Built

Built in 2022 | New Construction

Lot Details

0

HOA Fees

$1,000 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • First Right of Refusal: No
  • Association Fee: 3000.00
  • Mandatory HOA: Yes
  • Document Count: 1
  • Fee Includes: Cable, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Water, Exterminating
  • Key Island: Key Colony
  • Limited Representation: Yes
  • Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
  • Mile Marker: 53.50
  • Min Rental Days: 7.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Pets W Restrictions: YES
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Conventional
  • Side: Ocean
  • State Province: FL
  • Taxes: 1029.08
  • Vehicle Storage: Attached, Covered Parking
  • Year Built: 2022
  • Alternate Key Number: 8555962
  • Cooling Heating: Central Air
  • Pool Info: In Ground, Concrete
  • Porch Balcony: Open Porch/Balcony
  • Association Maintenance Fee Per: Quarterly
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 1000.00
  • Property Condition: New Construction
  • Sewer Hook Up: Yes
  • Unit Complex: Unit
  • Statistical Purposes Only: No
  • Special Features: NewHome
  • Property Sub Type: Condos

Interior Features

  • Interior Amenities: Walk-in Closet(s)
  • Floor Number: 3.00
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Washer, Disposal, Microwave, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Laminate
  • Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 2
  • Sq Ft Remarks: Square footage figures provided by the Seller, Buyer to verify square footage and all information contained.

Exterior Features

  • Dockage: None
  • Waterfront: Oceanfront
  • Waterfront: Yes
  • Construction: Concrete, ICFs (Insulated Concrete Forms), Combo Construction
  • Roof: Metal Roof
  • Waterview: Ocean View
  • Pool: Yes

Utilities

  • Utilities: Cable Available
  • Heating: Heat Pump

Lot Info

  • Deed Restrictions: Yes
  • Flood Zone: AE,AE,VE,VE,AE
  • Parcel Number: 00073990-002800
  • Land Size: Less Than 1/4 Acre

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2022

Multi Family

  • Total Units: 32.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 6, 2023
Closed on
Sep 27, 2023
Sold by
Stout Randy
Bought by
Reyes Family Revocable Trust and Reyes
Seller's Agent
Doug Addeo
Regional Trust Corporation
Buyer's Agent
Non Res Agent
Non Res Member
List Price
$899,000
Sold Price
$790,000
Premium/Discount to List
-$109,000
-12.12%
Views
22
Current Estimated Value
$723,127

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$66,873
Avg. Annual Appreciation
-2.53%
Original Mortgage
$592,500
Outstanding Balance
$583,467
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$171,050

Purchase Details

Closed on
Jul 27, 2023
Sold by
Key Colony Beach Club Inc
Bought by
Stout Randy and Stout Tami

Purchase Details

Closed on
Jul 9, 2015
Bought by
Stout Randy and Stout Tami

Purchase Details

Closed on
Mar 18, 2014
Bought by
Stout Randy and Stout Tami

Purchase Details

Closed on
Feb 1, 1969
Bought by
Stout Randy and Stout Tami
Source: Public Records

Range of Values:

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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
Reyes Family Revocable Trust $790,000 Flamingo Title
Stout Randy -- None Listed On Document
Stout Randy $300,000 --
Stout Randy $150,000 --
Stout Randy $12,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Reyes Family Revocable Trust $592,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/28/2023 09/28/23 Sold $790,000 -6.9% $790 / Sq Ft
08/10/2023 08/10/23 Pending -- -- --
07/31/2023 07/31/23 Price Changed $849,000 -5.6% $849 / Sq Ft
07/06/2023 07/06/23 For Sale $899,000 -- $899 / Sq Ft
Source: Marathon and Lower Keys Association 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 $1,494 $642,088 -- $642,088
2023 $1,494 $101,025 $0 $101,025
2022 $1,029 $101,025 $0 $101,025
2021 $1,075 $101,025 $0 $101,025
2020 $1,040 $101,025 $0 $101,025
2019 $1,041 $101,025 $0 $101,025
2018 $1,397 $101,025 $0 $0
2017 $2,753 $254,162 $0 $0
2016 $2,855 $254,162 $0 $0
2015 $1,917 $157,081 $0 $0
2014 $1,959 $157,081 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Doug Addeo

    Seller's Agent in 2023

    Doug Addeo

    Regional Trust Corporation

    (561) 218-6558

    1,283 Total Sales

    Doug Addeo
    Section Image

  • N

    Buyer's Agent in 2023

    Non Res Agent

    Non Res Member

See All Agents

Map

Source: Marathon and Lower Keys Association of REALTORS®

MLS Number: 605885

APN: 00073990-002800

Florida Monroe County Key Colony Beach 33051

501 E Ocean Dr Unit 28, Key Colony Beach, FL

This home is located at 501 E Ocean Dr Unit 28, Key Colony Beach, FL 33051 since 06 July 2023 and is currently estimated at $723,127, approximately $723 per square foot. This property was built in 2022. 501 E Ocean Dr Unit 28 is a home located in Monroe County with nearby schools including Stanley Switlik Elementary School, Marathon Middle High School, and Coral Shores High School.

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