NOT LISTED FOR SALE

550 1st St Unit U203 Cedar Key, FL 32625

Estimated Value: $188,000 - $248,000

1 Bed
1 Bath
560 Sq Ft
$603/mo HOA Fee

Last Sold May 13, 2024

Last sale price $200,000 $357 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $2,032/month

5 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 2024

This second floor unit at Island Place condos is a must see in Cedar Key! Exterior is in excellent condition with recent concrete fiberboard siding, deck replacement, railing replacement, and roof only 8 years old. 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. Fully stocked kitchen will make your evenings a pleasure to cook and enjoy a great meal on your porch. Stacked washer/dryer right inside the unit to make your vacation seamless. The Gulf front pool is the best pool on the island with a view straight out to Atsena Otie. Walk one block to restaurants and shopping or rent a golf cart to enjoy the island. Dedicated parking space for this unit and onsite management company provides stellar service with superior income and none of the work at Island Place Unit 203! Excellent ROI for investors and those who wish to live here year-round are welcome!

Last Agent to Sell the Property

Melinda Allen

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3464870 Listed on: 04/12/2024

Co-Listed By

Caryn Stephenson

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3232198

Last Buyer's Agent

Melinda Allen

Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3464870 Listed on: 04/12/2024

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,736

Year Built

  • Built in 1982

Lot Details

  • Property fronts gulf or ocean
  • Landscaped

HOA Fees

  • $603 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

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 1767000000

Community Details

Overview

  • The Island Place At Cedar Key Subdivision

Pet Policy

  • Pets Allowed

Security

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

Recreation

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

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,736

Year Built

Built in 1982

Lot Details

0

HOA Fees

$603 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 Mls Id: 14
  • 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 203 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: 1808
  • Association Fee Frequency: Quarterly
  • Association: Yes
  • Pets Allowed: Yes

Schools

  • Junior High Dist: Levy

Lot Info

  • Parcel #: 1767000000
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 2736.13
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 12, 2024
Closed on
May 13, 2024
Sold by
Willis Gregory and Halford Forest
Bought by
Zillmer Kelly P and Zillmer Patty J
Seller's Agent
Melinda Allen
Pelican Realty
Buyer's Agent
Melinda Allen
Pelican Realty
List Price
$225,000
Sold Price
$200,000
Premium/Discount to List
-$25,000
-11.11%
Views
20
Current Estimated Value
$215,740

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$15,740
Avg. Annual Appreciation
5.52%

Purchase Details

Listed on
Jan 18, 2016
Closed on
Apr 18, 2016
Sold by
Ward R Michael and Friend Kimberly Rose
Bought by
Willis Gregory and Halford Forest
Seller's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
Buyer's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
List Price
$109,000
Sold Price
$100,000
Premium/Discount to List
-$9,000
-8.26%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.97%

Purchase Details

Closed on
Oct 25, 2012
Sold by
Ward R Michael and Friend Kimberly R
Bought by
Ward R Michael and Friend Kimberly Rose

Purchase Details

Closed on
Mar 8, 2012
Sold by
Deboer Neil F and June E Deboer Trust
Bought by
Ward R Michael and Friend Kimberly R

Purchase Details

Closed on
May 31, 2002
Sold by
Deboer Dale E and Deboer June E
Bought by
Deboer Dale E and Deboer June E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$68,500
Interest Rate
6.77%

Purchase Details

Closed on
Jan 15, 2002
Sold by
Brooks John E and Kennedy Joan C
Bought by
Deboer Dale E and Deboer June E
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
Zillmer Kelly P $200,000 Action Title
Willis Gregory $100,000 Attorney
Ward R Michael -- Attorney
Ward R Michael $75,000 Attorney
Deboer Dale E -- Security Title Services Inc
Deboer Dale E -- Security Title Services Inc
Deboer Dale E $125,000 Security Title Services Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Deboer Dale E $68,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/13/2024 05/13/24 Sold $200,000 -11.1% $357 / Sq Ft
04/18/2024 04/18/24 Pending -- -- --
04/12/2024 04/12/24 For Sale $225,000 +125.0% $402 / Sq Ft
04/18/2016 04/18/16 Sold $100,000 -8.3% $179 / Sq Ft View Prior Sale
03/19/2016 03/19/16 Pending -- -- --
01/18/2016 01/18/16 For Sale $109,000 -- $195 / 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 $3,355 $212,500 $1 $212,499
2023 $3,300 $127,083 $0 $0
2022 $2,850 $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

  • M

    Seller's Agent in 2024

    Melinda Allen

    Pelican Realty

    (352) 222-8585

    57 Total Sales

    Melinda Allen
    Section Image
  • Caryn Stephenson

    Seller Co-Listing Agent in 2024

    Caryn Stephenson

    Pelican Realty

    (352) 228-0420

    70 Total Sales

    Caryn Stephenson
    Section Image
  • Vanessa Edmunds

    Seller's Agent in 2016

    Vanessa Edmunds

    Cedar Key Realty, Inc.

    (352) 210-1155

    155 Total Sales

    Vanessa Edmunds
    Section Image
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Map

Source: Dixie Gilchrist Levy Counties Board of REALTORS®

MLS Number: 790489

APN: 17670-000-00

Florida Levy County Cedar Key 32625

550 1st St Unit U203, Cedar Key, FL

This home is located at 550 1st St Unit U203, Cedar Key, FL 32625 since 12 April 2024 and is currently estimated at $215,740, approximately $385 per square foot. This property was built in 1982. 550 1st St Unit U203 is a home located in Levy County with nearby schools including Cedar Key High School.

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