NOT LISTED FOR SALE

550 1st St Unit U111 Cedar Key, FL 32625

Estimated Value: $217,174 - $274,000

1 Bed
1.5 Baths
560 Sq Ft
$524/mo HOA Fee

Last Sold June 23, 2020

Last sale price $160,000 $286 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $2,236/month

239 Days on Market

Highlights

  • Property fronts gulf or ocean
  • Deck
  • Corner Lot
  • Open Floorplan
  • Key West Architecture
  • 4-minute walk to Lil Shark Park

About This Home

As of June 2020

Take a look at this beautifully remodeled one bedroom, 1.5 bath condo at THE ISLAND PLACE in historic Cedar Key! This open floor plan condo, with an extra half bath for guests, has been carefully updated and decorated with local art and photographs. You'll want to spend lots of time on the covered Gulf-front porch, watching saltwater wildlife, sipping your favorite drink, and soaking up the Florida warmth! Inside, you can admire the view while enjoying the extra perk of a fireplace, for those occasional cooler winter days. The Island Place benefits from its great location--on the water and right downtown! You'll be just steps from all of the shops, restaurants and bars, the coffee shop, library, park, Art Center and fishing pier! FUN!

Last Listed By

Vanessa Edmunds

Cedar Key Realty, Inc. Brokerage Phone: 3525439899 License #BK3263028 Listed on: 09/27/2019

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,516

Year Built

  • Built in 1982

Lot Details

  • Property fronts gulf or ocean
  • Property fronts a county road
  • Landscaped
  • Level Lot
  • Additional Parcels

HOA Fees

  • $524 Monthly HOA Fees

Home Design

  • Key West Architecture
  • Frame Construction
  • Metal Roof
  • HardiePlank Type

Interior Spaces

  • 560 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Furnished
  • Ceiling Fan
  • Ventless Fireplace
  • Portable Fireplace
  • Electric Fireplace
  • Double Pane Windows
  • Blinds
  • Sliding Doors
  • Tile Flooring
  • Crawl Space

Kitchen

  • Breakfast Bar
  • Electric Range
  • Microwave
  • Dishwasher
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 1 Bedroom

Laundry

  • Laundry on main level
  • Stacked Washer and Dryer

Parking

  • Shared Driveway
  • Paved Parking
  • Open Parking
  • Off-Street Parking

Accessible Home Design

  • Accessible Full Bathroom
  • Grab Bar In Bathroom

Pool

  • Fence Around Pool
  • Pool Deck
  • Saltwater Pool

Outdoor Features

  • Courtyard
  • Deck
  • Exterior Lighting
  • Outdoor Grill
  • Porch

Location

  • In Flood Plain

Utilities

  • Cooling Available
  • Heating Available
  • Electric Water Heater
  • Satellite Dish
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 1766500000

Community Details

Overview

  • The Island Place At Cedar Key Subdivision

Recreation

  • Community Playground
  • Park
  • Trails

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,516

Year Built

Built in 1982

Lot Details

0

HOA Fees

$524 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Road Frontage Type: City Street, County Road
  • Road Surface Type: Paved
  • Water Body Name: Gulf of Mexico
  • Inclusions: Fully Furnished As Shown, With Two Exclusions.
  • Subdivision Name: The Island Place At Cedar Key
  • Directions: From SR 24 and 2nd Street in Cedar Key, turn left (east) onto 2nd Street, and go one block. Turn right on C Street, and go one block, passing the Fire Station. The Island Place is on the corner on the right. There will be no CEDAR KEY REALTY, INC. sign displayed, due to condo regulations.
  • Architectural Style: Key West
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: 2+ Story
  • New Construction: No
  • Year Built: 1982
  • Attribution Contact: 3525439899
  • Special Features: None

Interior Features

  • Furnished: Furnished
  • Appliances: Garbage Disposal, Electric Range, Dishwasher, Microwave Hood, Refrigerator, Washer/Dryer Stacked, Electric Water Heater
  • Accessibility Features: Level Flooring, Main Floor Laundry, Grab Bars-Shower/Bath, Accessible Full Bath
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Total Bedrooms: 1
  • Door Features: Sliding Doors
  • Fireplace Features: Electric, Ventless, Portable
  • Fireplace: Yes
  • Flooring: Tile
  • Interior Amenities: Granite Counters, Ceiling Fan(s), Fireplace, Open Floorplan, Breakfast Bar
  • Living Area: 560
  • Window Features: Double Pane Windows, Blinds, Window Treatments

Exterior Features

  • Lot Features: Corner Lot, Multiple Lots, Typical, Landscaped, Flood Plain
  • Pool Features: Cool Deck, Fenced, Salt Water
  • Topography: Level
  • Waterfront Features: Other, Gulf Front
  • Waterfront: Yes
  • Disclosures: Seller Property Disclosure
  • Construction Type: Frame, HardiPlank Type
  • Exterior Features: Lighting, Courtyard, Barbecue
  • Foundation Details: Coastal, Crawl Space
  • Patio And Porch Features: Porch, Open Deck
  • Roof: Metal

Garage/Parking

  • Attached Garage: No
  • Open Parking: Yes
  • Parking Features: Off Street, Asphalt, Shared Driveway

Utilities

  • Laundry Features: Main Level, Laundry Closet
  • Cooling: Electric
  • Cooling Y N: Yes
  • Heating: Fireplace(s), Electric
  • Heating Yn: Yes
  • Electric: Electric - Central FL Coop, Electricity Connected
  • Electricity On Property: Yes
  • Sewer: Public Sewer
  • Utilities: Cable Available, Satellite
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Park, Street Lights, Curbs, Playground, Trail(s), Sidewalks
  • Association Fee: 524
  • Association Fee Frequency: Monthly
  • Association: Yes
  • Pets Allowed: Yes

Schools

  • Junior High Dist: Levy

Lot Info

  • Additional Parcels: Yes
  • Parcel #: 1766500000
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 1515.81
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 24, 2021
Sold by
Letters Jeffrey W and Letters Kathryn A
Bought by
Patton Barry and Patton Noreen A
Total Days on Market
239
Current Estimated Value
$242,544

Purchase Details

Listed on
Sep 27, 2019
Closed on
Jun 23, 2020
Sold by
Graezyk Leon J and Graezyk Mary L
Bought by
Letters Jeffrey W and Letters Kathryn A
Seller's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
Buyer's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
List Price
$175,000
Sold Price
$160,000
Premium/Discount to List
-$15,000
-8.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.73%

Purchase Details

Closed on
Jun 13, 2019
Sold by
Graczyk Leon J and Graczyk Mary J
Bought by
Graczyk Leon J and Graczyk Mary L

Purchase Details

Closed on
Apr 20, 2016
Sold by
Day Michael J
Bought by
Graczyk Leon J and Graczyk Mary L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$34,000
Interest Rate
3.68%

Purchase Details

Closed on
Oct 14, 2011
Sold by
Bartlett Richard
Bought by
Day Michael J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,667
Interest Rate
4.26%

Purchase Details

Closed on
Apr 9, 2007
Sold by
Wakefield S Craig and Richard Bartlett Irrevocable L
Bought by
Bartlett Richard

Range of Values:

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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
Patton Barry $170,000 Attorney
Letters Jeffrey W $160,000 Attorney
Letters Jeffrey W $160,000 Norm D Fugate Pa
Graczyk Leon J -- Attorney
Graczyk Leon J $130,000 Levy Abstract & Title Co
Day Michael J $100,000 Levy Abstract & Title Co
Bartlett Richard -- Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Graczyk Leon J $34,000
Previous Owner Day Michael J $72,138
Previous Owner Day Michael J $66,667
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/23/2020 06/23/20 Sold $160,000 -8.6% $286 / Sq Ft
05/24/2020 05/24/20 Pending -- -- --
09/27/2019 09/27/19 For Sale $175,000 -- $313 / 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
2024 $4,327 $212,500 $1 $212,499
2023 $4,238 $187,000 $0 $0
2022 $3,682 $170,000 $1 $169,999
2021 $3,119 $139,999 $1 $139,998
2020 $2,780 $126,999 $0 $0
2019 $2,544 $114,999 $0 $0
2018 $1,516 $62,700 $0 $0
2017 $1,529 $62,700 $0 $0
2016 $2,501 $104,500 $0 $0
2015 $2,249 $94,999 $0 $0
2014 $2,065 $84,999 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Vanessa Edmunds

    Seller's Agent in 2020

    Vanessa Edmunds

    Cedar Key Realty, Inc.

    (352) 210-1155

    173 Total Sales

    Vanessa Edmunds
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Map

Source: Dixie Gilchrist Levy Counties Board of REALTORS®

MLS Number: 778748

APN: 17665-000-00

Florida Levy County Cedar Key 32625

550 1st St Unit U111, Cedar Key, FL

Homes for Sale in Cedar Key, FL

This home is located at 550 1st St Unit U111, Cedar Key, FL 32625 since 27 September 2019 and is currently estimated at $242,544, approximately $433 per square foot. This property was built in 1982. 550 1st St Unit U111 is a home located in Levy County with nearby schools including Cedar Key High School.

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