NOT LISTED FOR SALE

550 1st St Unit U103 Cedar Key, FL 32625

Estimated Value: $139,000 - $250,127

1 Bed
1 Bath
560 Sq Ft
$591/mo HOA Fee

Last Sold May 01, 2023

Last sale price $247,500 $442 Per Sq Ft

Est. 20% decrease in value since last sale

Current estimated payment $1,995/month

26 Days on Market

Highlights

  • Property fronts gulf or ocean
  • Deck
  • Main Floor Primary Bedroom
  • Concrete Pool
  • Traditional Architecture
  • 4-minute walk to Lil Shark Park

About This Home

As of May 2023

WOW! A rare HOT income producing unit at Island Place condos, one of the premier complexes in Cedar Key! Exterior is in excellent condition w/ concrete fiberboard siding/decks/railing/roof replaced in within last several years. Windows are all updated and sliding doors are impact for no worries while you're away. Not a studio, this is a full separate bedroom condo.It's a perfect getaway! Fully stocked kitchen allows cooking any gourmet meal. Stacked washer/dryer right inside the unit to make your vacation seamless. The Gulf front pool is the best pool on the island with an open water view straight out to Atsena Otie. Walk one block to restaurants and shopping. Dedicated parking space for this unit. Onsite management company provides stellar service with superior income and none of the work at Island Place Unit 103! Excellent ROI for investors and those who wish to live here year round are welcome! Must use onsite management for rental pool. Walk to everything and enjoy the island!

Last Agent to Sell the Property

Caryn Stephenson

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3232198 Listed on: 02/24/2023

Co-Listed By

Melinda Allen

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3464870

Last Buyer's Agent

Melinda Allen

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3464870

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,572

Year Built

  • Built in 1982

Lot Details

  • Property fronts gulf or ocean
  • Landscaped

HOA Fees

  • $591 Monthly HOA Fees

Home Design

  • Traditional Architecture
  • Pillar, Post or Pier Foundation
  • Frame Construction
  • Metal Roof
  • HardiePlank Type

Interior Spaces

  • 560 Sq Ft Home
  • 2-Story Property
  • Furnished
  • Ceiling Fan
  • Double Pane Windows
  • Blinds
  • Sliding Doors
  • Gulf Views
  • Stacked Washer and Dryer

Kitchen

  • Breakfast Bar
  • Electric Range
  • Microwave
  • Dishwasher
  • Laminate Countertops

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 1 Primary Bedroom on Main
  • 1 Full Bathroom
  • Single Vanity
  • Shower Only

Home Security

Parking

  • Paved Parking
  • Open Parking

Pool

  • Concrete Pool
  • Heated In Ground Pool
  • Saltwater Pool
  • Fence Around Pool

Outdoor Features

  • Deck
  • Exterior Lighting
  • Outdoor Grill

Utilities

  • Cooling Available
  • Heating Available
  • Electric Water Heater
  • Internet Available
  • Satellite Dish

Additional Features

  • No Carpet
  • In Flood Plain

Listing and Financial Details

  • Assessor Parcel Number 1765700000

Community Details

Overview

  • The Island Place At Cedar Key Subdivision

Pet Policy

  • Pets Allowed

Security

  • Storm Windows
  • High Impact Windows
  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,572

Year Built

Built in 1982

Lot Details

0

HOA Fees

$591 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Road Frontage Type: City Street, Maintained
  • Road Surface Type: Paved
  • Water Body Name: Gulf of Mexico
  • Co List Office Phone: 352-543-5581
  • Inclusions: All Furniture, Furnishings, Appliances, Electronics, Decor, Household Items, Kitchen And Bath Items.
  • Subdivision Name: The Island Place At Cedar Key
  • Directions: State Road 24 to 1st Street, Turn Left. Go 1/4 of a block and The Island Place Condominiums are located on the Right. Unit 103 is on the east end of the complex. No PELICAN REALTY sign due to condo restrictions.
  • Architectural Style: Traditional
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: 2+ Story
  • New Construction: No
  • Year Built: 1982
  • Attribution Contact: 3525435581, carynd@gmail.com
  • NAV10_StudioYN: No
  • Special Features: None

Interior Features

  • Furnished: Furnished
  • Appliances: Dishwasher, Microwave, Electric Range, Refrigerator, Washer/Dryer Stacked, Electric Water Heater
  • Full Bathrooms: 1
  • Total Bedrooms: 1
  • Door Features: Sliding Doors
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Laminate, No Carpet, Tile
  • Interior Amenities: Breakfast Bar, Ceiling Fan(s), Laminate Counters
  • Living Area: 560
  • Window Features: Double Pane Windows, Storm Window(s), Windborne Debris Protection, Blinds
  • Master Bedroom Master Bedroom Level: Main
  • Master Bathroom Features: Shower Only, Vanity

Exterior Features

  • Fencing: None
  • Lot Features: Other, Landscaped, Flood Plain
  • Pool Features: Community, Concrete Pool, Heated, In Ground, Fenced, Salt Water
  • Topography: Level
  • View: Gulf View
  • View: Yes
  • Waterfront Features: None, Gulf Front, Gulf of Mexico
  • Waterfront: Yes
  • Disclosures: HOA Disclosure, Seller Property Disclosure
  • Construction Type: Frame, HardiPlank Type
  • Exterior Features: Outdoor Grill, Lighting
  • Foundation Details: Coastal, Pillar/Post/Pier
  • Patio And Porch Features: Deck
  • Roof: Metal

Garage/Parking

  • Attached Garage: No
  • Open Parking: Yes
  • Parking Features: Other, Asphalt

Utilities

  • Security: Smoke Detector(s)
  • Cooling: Electric
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Electric: Electric - Central FL Coop, Electricity Connected
  • Electricity On Property: Yes
  • Sewer: Public Sewer
  • Utilities: Internet, Satellite
  • Water Source: Metered, Public

Condo/Co-op/Association

  • Association Fee: 1772
  • Association Fee Frequency: Quarterly
  • Association: Yes
  • Pets Allowed: Yes

Schools

  • Junior High Dist: Levy

Lot Info

  • Parcel #: 1765700000
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 3572.02
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 14, 2020
Closed on
Mar 15, 2021
Sold by
Dibenedetto Ann Mary and Dibenedetto Louis Richard
Bought by
Stewart Roger D and Dull Juleeann A
Buyer's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
List Price
$139,900
Sold Price
$139,900
Current Estimated Value
$197,032

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,132
Avg. Annual Appreciation
7.44%
Original Mortgage
$118,915
Outstanding Balance
$106,113
Interest Rate
2.7%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$90,919

Purchase Details

Closed on
Apr 21, 2015
Sold by
Williams Michelle and Love Michelle Thomas
Bought by
Dibenedetto Ann Mary and Dibenedetto Louis Richard

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$74,727
Interest Rate
3.95%

Purchase Details

Closed on
Aug 4, 2009
Sold by
Thomas Vernon E and Thomas Linda S
Bought by
Love Michelle Thomas
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 Buyer Sale Price Title Company
Stewart Roger D $139,900 Attorney
Dibenedetto Ann Mary $89,500 Levy Abstract & Title Co
Love Michelle Thomas -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Stewart Roger D $118,915
Previous Owner Dibenedetto Ann Mary $74,727
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/01/2023 05/01/23 Sold $247,500 -4.4% $442 / Sq Ft
04/02/2023 04/02/23 Off Market $259,000 -- --
03/08/2023 03/08/23 Price Changed $259,000 -3.7% $463 / Sq Ft
02/24/2023 02/24/23 For Sale $269,000 +92.3% $480 / Sq Ft
03/15/2021 03/15/21 Sold $139,900 0.0% $254 / Sq Ft View Prior Sale
02/13/2021 02/13/21 Pending -- -- --
07/14/2020 07/14/20 For Sale $139,900 -- $254 / Sq Ft
Source: Dixie Gilchrist Levy Counties 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 $4,428 $106,251 $1 $106,250
2024 $4,428 $212,500 $1 $212,499
2023 $4,238 $187,000 $0 $0
2022 $3,682 $170,000 $1 $169,999
2021 $2,461 $118,999 $1 $118,998
2020 $2,275 $109,999 $0 $0
2019 $2,030 $91,999 $0 $0
2018 $1,634 $68,000 $0 $0
2017 $1,648 $68,000 $0 $0
2016 $1,969 $79,999 $0 $0
2015 $1,936 $79,999 $0 $0
2014 $1,952 $79,999 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Caryn Stephenson

    Seller's Agent in 2023

    Caryn Stephenson

    Pelican Realty

    (352) 228-0420

    67 Total Sales

    Caryn Stephenson
    Section Image

  • M

    Seller Co-Listing Agent in 2023

    Melinda Allen

    Pelican Realty

    (352) 222-8585

    56 Total Sales

    Melinda Allen
    Section Image
  • Vanessa Edmunds

    Buyer's Agent in 2021

    Vanessa Edmunds

    Cedar Key Realty, Inc.

    (352) 210-1155

    153 Total Sales

    Vanessa Edmunds
    Section Image
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Map

Source: Dixie Gilchrist Levy Counties Board of REALTORS®

MLS Number: 786042

APN: 17657-000-00

Florida Levy County Cedar Key 32625

550 1st St Unit U103, Cedar Key, FL

Not Listed for Sale

Condos

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