NOT LISTED FOR SALE

550 1st St Unit U207 Cedar Key, FL 32625

Estimated Value: $172,000 - $298,000

1 Bed
1 Bath
560 Sq Ft
$175/mo HOA Fee

Last Sold August 14, 2020

Last sale price $175,000 $312 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $1,678/month

404 Days on Market

Highlights

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

About This Home

As of August 2020

What a magnificent view! This one-bedroom, one-bath open floor plan condo is nicely placed on a corner on the second floor. Sit on your comfy porch, sip your favorite drink, and soak up views of the Gulf of Mexico and nearby uninhabited islands. Watch the dolphins play, and the osprey soar! THE ISLAND PLACE just completed a total renovation, and looks fabulous! New Hardiplank siding, new impact windows, new divided-lite sliding glass doors, new pool and pool deck, new boardwalks, and fresh new landscaping make this downtown jewel an island hot spot! Just a few steps to Dock Street food and fun, and Second Street shops and art--you'll be right at home here. When you're away, put it in the onsite rental management for extra income! $$$

Last Agent to Sell the Property

Vanessa Edmunds

Cedar Key Realty, Inc. Brokerage Phone: 3525439899 License #BK3263028 Listed on: 06/06/2019

Last Buyer's Agent

Nickie Rucker

A. Nickies Homes License #3298144

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,035

Year Built

  • Built in 1982

Lot Details

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

HOA Fees

  • $175 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
  • High Ceiling
  • Ceiling Fan
  • Double Pane Windows
  • Tinted Windows
  • Blinds
  • Sliding Doors
  • Crawl Space

Kitchen

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

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Laundry

  • Laundry closet
  • Stacked Washer and Dryer

Parking

  • Paved Parking
  • Open Parking

Pool

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

Outdoor Features

  • Exterior Lighting
  • Outdoor Grill
  • Porch

Location

  • In Flood Plain

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 1767400000

Community Details

Overview

  • The Island Place At Cedar Key Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,035

Year Built

Built in 1982

Lot Details

0

HOA Fees

$175 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: Sold Fully Furnished As Shown.
  • Subdivision Name: The Island Place At Cedar Key
  • Directions: From SR 24 and Second Street in Cedar Key, continue past 2nd Street one more block, and turn left on 1st Street. THE ISLAND PLACE is at the end of the block on the right. There will not be a CEDAR KEY REALTY, INC. sign 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, Range Hood, Refrigerator, Washer/Dryer Stacked, Electric Water Heater
  • Accessibility Features: Level Flooring
  • Full Bathrooms: 1
  • Total Bedrooms: 1
  • Door Features: Sliding Doors
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Carpet, Vinyl
  • Interior Amenities: High Ceilings, Laminate Counters, Ceiling Fan(s), Open Floorplan, Breakfast Bar
  • Living Area: 560
  • Window Features: Tinted Windows, Double Pane Windows, Blinds, Window Treatments

Exterior Features

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

Garage/Parking

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

Utilities

  • Laundry Features: Laundry Closet
  • 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: Cable Available, Satellite, Internet
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee: 524
  • Association Fee Frequency: Quarterly
  • Association: Yes
  • Pets Allowed: Yes

Schools

  • Junior High Dist: Levy

Lot Info

  • Additional Parcels: Yes
  • Parcel #: 1767400000
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 2034.89
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 6, 2019
Closed on
Aug 12, 2020
Sold by
Moran Dennis A
Bought by
Friffith Richard F and Griffith Marilbeth M
Seller's Agent
Vanessa Edmunds
Cedar Key Realty, Inc.
Buyer's Agent
Nickie Rucker
A. Nickies Homes
List Price
$198,000
Sold Price
$175,000
Premium/Discount to List
-$23,000
-11.62%
Current Estimated Value
$220,732

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$45,732
Avg. Annual Appreciation
5.62%
Original Mortgage
$140,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 20, 2014
Sold by
Onufry Richard and Barss Twila V
Bought by
Moran Dennis A

Purchase Details

Closed on
May 1, 2003
Sold by
Stoddard Richard G and Stoddard Ruth L
Bought by
Onufry Richard and Barss Twila V

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$142,000
Interest Rate
5.79%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Friffith Richard F $175,000 Attorney
Griffith Richard F $175,000 Fugate Norm D
Moran Dennis A $119,000 Attorney
Onufry Richard $178,000 Levy Abstract & Title Compan
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Griffith Richard F $140,000
Previous Owner Onufry Richard $142,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/14/2020 08/14/20 Sold $175,000 -11.6% $313 / Sq Ft
07/15/2020 07/15/20 Pending -- -- --
06/06/2019 06/06/19 For Sale $198,000 -- $354 / 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 $4,199 $159,375 $1 $159,374
2024 $4,199 $212,500 $1 $212,499
2023 $4,114 $179,079 $0 $0
2022 $3,572 $170,000 $1 $169,999
2021 $3,289 $147,999 $1 $147,998
2020 $2,930 $136,999 $0 $0
2019 $2,681 $123,999 $0 $0
2018 $2,035 $86,000 $0 $0
2017 $2,053 $86,000 $0 $0
2016 $2,592 $107,500 $0 $0
2015 $2,328 $97,499 $0 $0
2014 $2,121 $87,499 $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

    155 Total Sales

    Vanessa Edmunds
    Section Image
  • Nickie Rucker

    Buyer's Agent in 2020

    Nickie Rucker

    A. Nickies Homes

    (352) 477-0007

    31 Total Sales

    Nickie Rucker
    Section Image
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Map

Source: Dixie Gilchrist Levy Counties Board of REALTORS®

MLS Number: 778084

APN: 17674-000-00

Florida Levy County Cedar Key 32625

550 1st St Unit U207, Cedar Key, FL

Not Listed for Sale

Condos

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