55 Coral Way Key West, FL 33040
Estimated payment $8,432/month
Total Views
8,235
3
Beds
3
Baths
1,420
Sq Ft
$1,021
Price per Sq Ft
About This Home
Here is your chance to purchase a TRUE TRANSIENT 3BR/3BA 1420 sq ft home. OCTOPUS'S GARDEN is one of only 8 stand alone units in the Coral Hammock gated community and has generated up to $157,000 in gross annual income. This income-producing home is being offered as a turnkey purchase, whimsically decorated with furnishings that reflect the laid-back, quirky island life style of Key West. You will be just down the street from the famous Hogfish Bar & Grill, Roostica Pizzeria, Hurricane Hole Marina & Restaurant and Chico's Cantina. The Key West Golf Club is just across the street. You will be just a short bike or Uber ride from Old Town Key West.THE COMMUNITY & GROUNDS...This large, freestanding home has two off street parking spaces directly in front, with a grassy lawn that surrounds the house front and back. The front porch offers a shaded area to sit and relax. The back porch is perfect for a BBQ and the great big back yard is great for the kids. An enormous communal swimming pool surrounded by plenty of chaise lounges is through a gate directly across from your front door. Access to the clubhouse includes a shaded patio area overlooking the pool, as well as an indoor gathering area and a private fitness center with cardio equipment and free weights.FEATURES...**New impact doors and windows installed recently**New HVAC system installed in April 2025 with warranty**Interior and all exterior walls, and trim freshly painted**All decks freshly painted**Range, dish washer & microwave all replaced within the last three years**New furnishings & art work recently installed.**High quality flooring installed.**Home is scheduled for preventative termite tenting July 20.** Washer and Dryer** Ceiling Fans** TVs in Living Room & All Bedrooms** Fully Equipped Kitchen** Linens and Towels included** Community Pool Access** Assigned Off-street Parking for 2 cars** Fitness Center** Clubhouse available for private parties
Map
Home Details
Home Type
Single Family
Est. Annual Taxes
$5,921
Year Built
2004
Lot Details
0
Listing Details
- Property Type: Residential
- Style: Single Family
- As Is Right To Inspect: Yes
- First Right of Refusal: Yes
- Association Approval Required: No
- Association Fee: 440.00
- Mandatory HOA: Yes
- Voluntary HOA: No
- Document Count: 3
- Fee Includes: Common Area Mnt
- Handicap Access: No
- Key Island: Stock Island
- Limited Representation: No
- Marathon Neighborhood: N/A
- Mile Marker: 5.00
- Min Rental Days: 1.00
- M L S Identifier: 20060123165453488875000000
- Neighborhood Feature: Community Pool, Clubhouse
- Pets: Pets Allowed
- Property Group I D: 19990816212109142258000000
- Side: Median
- State Province: FL
- Taxes: 6399.26
- Vehicle Storage: Assigned Parking, Guest Parking
- Vehicle Storage Cars: 2
- Year Built: 2004
- Alternate Key Number: 9081098
- Cooling Heating: Central Air, Ceiling Fans(s)
- Lot Sq Ft: 1154.00
- Pool Info: In Ground, Decked, Concrete
- Association Maintenance Fee Per: Monthly
- Species List: No
- Tax Exemptions: None
- Building Style Above Flood: Yes
- Building Style Stories: 2 Stories
- License Info Transient Rntl Licns: Yes
- Estimated Living Sq Ft: 1420.00
- Property Condition: Updated/Remodeled
- Sewer Hook Up: Yes
- Statistical Purposes Only: No
- Special Features: None
- Property Sub Type: Detached
- Stories: 2
Interior Features
- Total Bathrooms: 3.00
- Full Bathrooms: 3
- Appliances: Washer, Freezer, Disposal, Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
- Windows/Doors: Impact Rstnce Window, Impact Rstnce Doors
- Total Bedrooms: 3
Exterior Features
- Dockage: None
- Waterfront: None
- Waterfront: No
- Construction: Hardi Board Siding
- Roof: Metal Roof
- Waterview: No Waterview
- Pool: Yes
Utilities
- Utilities: FKAA, Cable Available, Municipal Sewer
- Heating: Central
Lot Info
- Deed Restrictions: Unknown
- Flood Zone: AE
- Parcel Number: 00124100-000128
- Land Size: Less Than 1/4 Acre
- Acres: 0.03
Rental Info
- Rentals Allowed: Yes
- Furnished: Furnished
Tax Info
- Tax Year: 2024
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
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 | $5,921 | $760,695 | $384,553 | $376,142 |
| 2023 | $5,921 | $733,484 | $402,932 | $330,552 |
| 2022 | $5,137 | $566,220 | $231,863 | $334,357 |
| 2021 | $4,936 | $495,905 | $201,325 | $294,580 |
| 2020 | $5,065 | $505,279 | $204,152 | $301,127 |
| 2019 | $4,987 | $527,218 | $222,814 | $304,404 |
| 2018 | $4,672 | $475,871 | $194,538 | $281,333 |
| 2017 | $4,176 | $411,903 | $0 | $0 |
| 2016 | $3,942 | $375,792 | $0 | $0 |
| 2015 | $3,775 | $347,936 | $0 | $0 |
| 2014 | $3,533 | $296,146 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/28/2025 06/28/25 | For Sale | $1,450,000 | -- | $1,021 / Sq Ft |
Source: Key West Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $295,000 | Attorney | |
| Warranty Deed | $390,800 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $236,000 | New Conventional |
Source: Public Records
Similar Homes in Key West, FL
Source: Key West Association of REALTORS®
MLS Number: 615593
APN: 00124100-000128
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.
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.
Nearby Homes
- 5645 Macdonald Ave
- 18 Golf Club Dr
- 2 Merganser Ln
- 4 Kingfisher Ln
- 22 Merganser Ln
- 61 Golf Club Dr Unit 255
- 60 Golf Club Dr
- 11 Kestral Way
- 8 Kestral Way
- 90 Golf Club Dr
- 5413 3rd Ave
- 6460 Sunshine St
- 7000 5th St
- 7200 5th St
- 26 Spoonbill Way
- 119 Golf Club Dr
- 1 Spoonbill Way
- 30 Key Haven Rd
- 34 Key Haven Rd
- 5331 5th Ave
- 12 Kingfisher Ln
- 4 Kingfisher Ln
- 6440 2nd St Unit 9
- 5413 3rd Ave
- 113 Golf Club Dr
- 148 Golf Club Dr
- 6800 Maloney Ave
- 5555 College Rd Unit 10
- 5555 College Rd
- 3635 Seaside Dr Unit 206
- 3900 S Roosevelt Blvd
- 3312 Northside Dr Unit 208
- 2929 Patterson Ave
- 2929 Patterson Ave
- 2929 Patterson Ave
- 1623 Venetian Dr
- 1608 Venetian Dr
- 2401 Patterson Ave Unit 102
- 2401 Patterson Ave Unit 101
- 2214 Seidenberg Ave