571 8th St Key Colony Beach, FL 33051
5
Beds
4
Baths
2,218
Sq Ft
8,276
Sq Ft Lot
About This Home
As of December 2024Introducing an exceptional Duplex with icome producing potential! Fully renovated this FULL duplex is located in the exclusive Key Colony Beach--the crown jewel of the Florida Keys. Located just off the Sadowski Causeway, this barrier island offers an enviable lifestyle with private beaches, breathtaking sunset views at Sunset Park, and premier access to fishing charters, marinas, and a nine-hole golf course. Key Colony Beach even has its own post office, making life here both convenient and luxurious. This well-maintained full duplex boasts a 75 ft. concrete dock with davits, a sparkling swimming pool, and a tiki hut bar that overlooks a wide, 90+ foot canal. Boating enthusiasts will appreciate the quick access to the ocean or bay through the nearby Vaca Cut channel. Enjoy serene water views from the expansive covered porch of the upper unit, which features 2 bedrooms, 2 bathrooms, and an open-concept living space perfect for entertaining. The lower unit is fully renovated, offering a modern white kitchen, 3 spacious bedrooms, 2 bathrooms, and a shaded lanai for outdoor relaxation. The large, fully fenced side yard is ideal for pets or boat trailer storage, with convenient access to the attached garage and ample parking for multiple vehicles. Built with solid concrete construction and topped with a newer metal roof (approx. 3 years old), this property is a true investment gem. Live in one unit and rent out the other, or maximize its potential as a highly sought-after vacation rental destination with weekly rental options in the heart of the Middle Keys.This duplex is also eligible to be subdivided into two separate parcels, offering flexible ownership opportunities. With nearby parks, beaches, and a golf course, it's the perfect blend of relaxation and adventure in one of the most desirable locations in the Florida Keys.
Last Agent to Sell the Property
Keller Williams Key West Compass Realty License #3553942 Listed on: 10/17/2024
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$11,301
Year Built
1970
Lot Details
0
Listing Details
- Property Type: Residential
- Style: Duplex
- First Right of Refusal: No
- Mandatory HOA: No
- Control Depth: 4
- Dockage Dock: Concrete
- Dockage Dock Length: 75
- Dockage Seawall: Concrete
- Fee Includes: None
- Key Island: Key Colony
- Limited Representation: No
- Marathon Neighborhood: N/A
- Mile Marker: 53.50
- Min Rental Days: 7.00
- M L S Identifier: 20060123165453488875000000
- Neighborhood Feature: Clubhouse, Bike Paths, Beach
- Pets: Pets Allowed
- Property Group I D: 19990816212109142258000000
- Sale Terms: Other Terms
- Side: Ocean
- State Province: FL
- Taxes: 11300.66
- Vehicle Storage: Garage, Trailer Storage, Covered Parking, RV Parking Open, Off Street Parking, Guest Parking, Open Parking, Attached
- Vehicle Storage Cars: 4+
- Year Built: 1970
- Alternate Key Number: 1080489
- Building Style: Ground Level
- Cooling Heating: Central Air, Ceiling Fans(s)
- Lot Sq Ft: 8250.00
- Pool Info: In Ground, Fiberglass
- Pool Info Heated: No
- Porch Balcony: Open Porch/Balcony, Screened Patio
- Tax Exemptions: None
- Building Style Above Flood: No
- Building Style Stories: 2 Stories
- Estimated Living Sq Ft: 2218.00
- Financial Status Standard Sale: Yes
- Sewer Hook Up: Yes
- Statistical Purposes Only: No
- Special Features: None
- Property Sub Type: MultiFamily
- Stories: 2
Interior Features
- Total Bathrooms: 4.00
- Full Bathrooms: 4
- Appliances: Dishwasher, Microwave, Oven, Range, Refrigerator
- Floor: Tile
- Specialty Rooms: Other
- Windows/Doors: Single Hung Windows, Impact Rstnce Window, Sliding Glass Doors
- Total Bedrooms: 5
Exterior Features
- Dockage: Davits
- Waterfront: Canal Front
- Waterfront: Yes
- Construction: CBS
- Exterior Features: Chickee Hut, Storage
- Roof: Metal Roof
- Waterview: Canal View
- Pool: Yes
Utilities
- Security: Patrolled Area
- Utilities: FKAA, Elect Separate Meter, Water Separate Meter, Municipal Sewer
Lot Info
- Deed Restrictions: Unknown
- Flood Zone: AE
- Parcel Number: 00075020-000000
- Land Size: Less Than 1/4 Acre
- Acres: 0.19
Rental Info
- Rentals Allowed: Yes
- Furnished: Partially
Tax Info
- Tax Year: 2023
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 17, 2024
Closed on
Dec 20, 2024
Sold by
Aquino Ricardo U and Lazy Dayz Llc
Bought by
Cuda Man Llc
Seller's Agent
Gregg Powers
Keller Williams Key West Compass Realty
Buyer's Agent
Erin Voelliger
Ocean Sotheby's International
List Price
$1,990,000
Sold Price
$1,950,000
Premium/Discount to List
-$40,000
-2.01%
Views
8
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$120,779
Avg. Annual Appreciation
-9.71%
Original Mortgage
$1,462,500
Outstanding Balance
$1,458,723
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$379,054
Purchase Details
Closed on
Sep 14, 2023
Sold by
571 8Th Street Llc
Bought by
Aquino Ricardo U and Lazy Dayz Llc
Purchase Details
Listed on
Feb 3, 2023
Closed on
Mar 27, 2023
Sold by
Lecompte Peter
Bought by
571 8Th Street Llc
Seller's Agent
David Grego
Island Breeze Realty, LLC
List Price
$1,780,000
Sold Price
$1,470,000
Premium/Discount to List
-$310,000
-17.42%
Views
205
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.15%
Purchase Details
Closed on
Apr 27, 2012
Sold by
Michels Kenneth
Bought by
Lecompte Peter
Purchase Details
Closed on
Apr 24, 2009
Sold by
Diehn Jan
Bought by
Michels Kenneth
Purchase Details
Closed on
Apr 29, 1998
Sold by
Morse Marilyn
Bought by
Michels Kenneth and Diehn Jan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
7.03%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 1, 1970
Bought by
Lecompte Peter
Similar Homes in the area
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,950,000 | None Listed On Document | |
| Warranty Deed | -- | None Listed On Document | |
| Warranty Deed | $1,470,000 | -- | |
| Warranty Deed | $568,700 | Attorney | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $286,000 | -- | |
| Deed | $5,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,462,500 | New Conventional | |
| Previous Owner | $500,000 | Fannie Mae Freddie Mac | |
| Previous Owner | $150,000 | Credit Line Revolving | |
| Previous Owner | $105,000 | New Conventional | |
| Previous Owner | $170,000 | New Conventional | |
| Previous Owner | $90,000 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/20/2024 12/20/24 | Sold | $1,950,000 | -2.0% | $879 / Sq Ft |
| 10/17/2024 10/17/24 | For Sale | $1,990,000 | +35.4% | $897 / Sq Ft |
| 03/28/2023 03/28/23 | Sold | $1,470,000 | -1.7% | $663 / Sq Ft |
| 02/27/2023 02/27/23 | Pending | -- | -- | -- |
| 02/17/2023 02/17/23 | Price Changed | $1,495,000 | -9.3% | $674 / Sq Ft |
| 02/10/2023 02/10/23 | Price Changed | $1,649,000 | -7.4% | $743 / Sq Ft |
| 02/03/2023 02/03/23 | For Sale | $1,780,000 | -- | $803 / Sq Ft |
Source: Key West Association of REALTORS®
Tax History Compared to Growth
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 | $11,301 | $1,205,885 | $862,125 | $343,760 |
| 2023 | $11,301 | $1,215,484 | $862,125 | $353,359 |
| 2022 | $10,257 | $1,094,729 | $643,500 | $451,229 |
| 2021 | $9,377 | $872,992 | $462,000 | $410,992 |
| 2020 | $8,203 | $752,524 | $332,063 | $420,461 |
| 2019 | $8,219 | $754,222 | $327,938 | $426,284 |
| 2018 | $7,900 | $752,248 | $327,938 | $424,310 |
| 2017 | $6,495 | $666,464 | $0 | $0 |
| 2016 | $6,456 | $628,067 | $0 | $0 |
| 2015 | $6,378 | $619,013 | $0 | $0 |
| 2014 | $6,549 | $620,658 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Gregg Powers
G
Seller's Agent in 2024
Gregg Powers
Keller Williams Key West Compass Realty
(206) 264-0600
16 Total Sales
-
Robin Nilsson
Seller Co-Listing Agent in 2024
Robin Nilsson
Keller Williams Key West Compass Realty
(941) 473-7399
27 Total Sales
-
Erin Voelliger
Buyer's Agent in 2024
Erin Voelliger
Ocean Sotheby's International
3 Total Sales
-
David Grego
Seller's Agent in 2023
David Grego
Island Breeze Realty, LLC
(305) 481-1296
253 Total Sales
Map
Source: Key West Association of REALTORS®
MLS Number: 611843
APN: 00075020-000000
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