$4,500,000
SOLD APR 14, 2025

524 Frances St Key West, FL 33040

Old Town Neighborhood
4 Beds
4 Baths
3,015 Sq Ft
6,534 Sq Ft Lot

Recently Sold

$1,493 Per Sq Ft

13% Below List Price

292 Days on Market

About This Home

As of April 2025

Welcome to 524 Frances Street, where sophisticated style meets Old Town charm. Rarely does an architectural gem such as this property become available for purchase. This iconic home has been completely and professionally updated, including impact windows and doors. Enter the property through a white picket fence and ascend the front porch steps with views of Frances Street. Just beyond the historic, glass-etched front door is a welcoming foyer; prepare to be awestruck by the style and craftsmanship of the home. Situated on a double lot, this 4 bedroom/3.5 bathroom property is the ultimate Key West escape, with Brazilian Cherry wood floors, crown moulding and top of the line finishes. The first floor offers three bedrooms. Two spacious guest bedrooms, each with Queen-sized bed and custom closets, are adjoined by a shared bathroom with standup shower. Opposite side of these guest bedrooms is a formal living room with double sliding pocket doors leading into a formal dining room with access to a side porch. Beyond the dining room is a gourmet kitchen that overlooks an additional living room with wall-to-wall glass doors. A hallway leads to a separate wing inviting you to one of two Primary Suites at this property (the second Primary Suite is upstairs). With a King-sized four-posted bed, and ensuite bathroom with dual headed shower and soaking tub. Upstairs is the second Primary Suite with open-concept layout, no need to ever leave this room, as the second floor is only for this room. A beautiful soaking tub to just let all your trouble slip away, with a double stand-up shower. A wet bar with wine fridge serves as the perfect coffee bar for your morning cup, or an evening drink on your private sundeck overlooking the backyard. The private backyard offers a huge in-ground lap pool, outdoor shower, Ipe wood decking, & outdoor dining gazebo with built-in Wolf grill. This home comes with two brick-paved, gated driveways. Offered turn key with a very small exclusion list.

Last Agent to Sell the Property

Bobby Coe

RE/MAX Keys Connection (KW) License #3428120 Listed on: 06/07/2024

RE/MAX Keys Connection (KW)

Last Buyer's Agent

Bernice Schafer

Vested Palm Real Estate and Home Services License #3442282

Home Details

Home Type

Single Family

Year Built

1938

Lot Details

6,534 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Key Island: Key West
  • K W Neighborhood: Old Town-N of Truman
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 1.00
  • Min Rental Days: 30.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Median
  • State Province: FL
  • Taxes: 24196.87
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Vehicle Storage Cars: 2
  • Year Built: 1938
  • Alternate Key Number: 1007471
  • Building Style: Conch
  • Cooling Heating: Central Air, Ceiling Fans(s)
  • Lot Sq Ft: 6643.00
  • Pool Info: In Ground
  • Shutters: Panel
  • Tax Exemptions: Homestead
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 3015.00
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Entrance Foyer, Bar, Walk-in Closet(s), Storage, Security System, Dade County Pine
  • Total Bathrooms: 4.00
  • Full Bathrooms: 3
  • Appliances: Washer, Stainless Steel Appliance(s), Wine Cooler, Gas Appliances, Microwave, Oven, Refrigerator, Dishwasher, Dryer
  • Floor: Wood
  • Half Bathrooms: 1
  • Windows/Doors: Glass Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 4
  • Accessibility Features: Parking

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Built-in Grill, Outdoor Shower, Gazebo
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: Yes

Utilities

  • Utilities: Buyer to Verify

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE
  • Parcel Number: 00007210-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.15

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Furnished

Tax Info

  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 7, 2024
Closed on
Apr 14, 2025
Sold by
Gonzalez Khant Dixan and Dixan Gonzalez Khant Revocable Living Tr
Bought by
Pedersen Margaret
Seller's Agent
Bobby Coe
RE/MAX Keys Connection (KW)
Buyer's Agent
Bernice Schafer
Vested Palm Real Estate and Home Services
List Price
$5,200,000
Sold Price
$4,500,000
Premium/Discount to List
-$700,000
-13.46%
Views
1139
Current Estimated Value
$4,390,442

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$109,558
Avg. Annual Appreciation
-2.56%

Purchase Details

Listed on
Nov 11, 2020
Closed on
Jan 14, 2021
Sold by
Klein Richard B and Richard B Klein Living Trust And Norma L
Bought by
Dixan Gonzalez Khant Revocable Living Trust and Eindar Khant Revocable Living Trust
Seller's Agent
Scott Forman
ICAMCO Real Estate Inc. (KW)
Buyer's Agent
Creative Technology
List Price
$2,985,000
Sold Price
$2,800,000
Premium/Discount to List
-$185,000
-6.2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.81%

Purchase Details

Closed on
Apr 21, 2006
Sold by
Hartwig Bruce A
Bought by
Klein Richard B and Klein Norma L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
6.31%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Dec 27, 1996
Sold by
Lieb Robert M and Lieb Donna Lieb
Bought by
Hartwig Bruce A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
7.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 16, 1994
Sold by
Kaufelt David A and Kaufelt Lynn H
Bought by
Lieb Robert M and Lieb Donna

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$239,000
Interest Rate
6.97%

Purchase Details

Closed on
May 1, 1988
Bought by
Klein Richard P Living Trust 09/18/2002

Purchase Details

Closed on
Apr 1, 1986
Bought by
Klein Richard P Living Trust 09/18/2002
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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 Type Sale Price Title Company
Warranty Deed $4,500,000 None Listed On Document
Warranty Deed $4,500,000 None Listed On Document
Warranty Deed $2,800,000 New Title Company Name
Warranty Deed $2,800,000 None Available
Warranty Deed $550,000 --
Deed $460,000 --
Warranty Deed $220,000 --
Warranty Deed $130,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,000,000 Fannie Mae Freddie Mac
Previous Owner $440,000 New Conventional
Previous Owner $239,000 No Value Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/14/2025 04/14/25 Sold $4,500,000 -9.9% $1,493 / Sq Ft
03/26/2025 03/26/25 Pending -- -- --
01/02/2025 01/02/25 Price Changed $4,995,000 -3.9% $1,657 / Sq Ft
11/13/2024 11/13/24 For Sale $5,200,000 +15.6% $1,725 / Sq Ft
11/07/2024 11/07/24 Off Market $4,500,000 -- --
06/07/2024 06/07/24 For Sale $5,200,000 +85.7% $1,725 / Sq Ft
01/14/2021 01/14/21 Sold $2,800,000 -6.2% $993 / Sq Ft View Prior Sale
12/21/2020 12/21/20 Pending -- -- --
11/11/2020 11/11/20 For Sale $2,985,000 -- $1,059 / Sq Ft
Source: Key West Association of REALTORS®

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 $26,258 $3,230,680 $1,815,930 $1,414,750
2024 $24,197 $3,227,533 $1,815,930 $1,411,603
2023 $24,197 $2,911,528 $1,556,671 $1,354,857
2022 $21,446 $2,544,484 $1,179,465 $1,365,019
2021 $20,962 $2,344,961 $872,359 $1,472,602
2020 $9,696 $1,102,262 $0 $0
2019 $9,559 $1,077,480 $0 $0
2018 $9,571 $1,057,390 $0 $0
2017 $9,535 $1,035,642 $0 $0
2016 $9,865 $1,014,341 $0 $0
2015 $10,056 $1,007,290 $0 $0
2014 $10,376 $999,296 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Bobby Coe

    Seller's Agent in 2025

    Bobby Coe

    RE/MAX

    (305) 363-9665

    37 in this area

    128 Total Sales

    Bobby Coe
    Section Image
  • Bernice Schafer

    Buyer's Agent in 2025

    Bernice Schafer

    Vested Palm Real Estate and Home Services

    (305) 509-0469

    28 in this area

    78 Total Sales

    Bernice Schafer
    Section Image

  • S

    Seller's Agent in 2021

    Scott Forman

    ICAMCO Real Estate Inc. (KW)

  • S

    Seller Co-Listing Agent in 2021

    Sara Hallett

    eXp Realty LLC

    Section Image

  • o

    Buyer's Agent in 2021

    outside of mls

    Outside Of MLS

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Map

Source: Key West Association of REALTORS®

MLS Number: 610327

Key West Association of REALTORS®

APN: 00007210-000000

Florida Monroe County Key West 33040 Old Town

524 Frances St, Key West, FL

Sold

Detached

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