NOT LISTED FOR SALE

587 116th Street Ocean Marathon, FL 33050

Estimated Value: $534,000 - $623,000

2 Beds
1 Bath
832 Sq Ft
$680/Sq Ft Est. Value

Sale Details

Date Sold: April 28, 2025

Last sale price $539,900 $649 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $3,433 / mo

64 Days on Market

Highlights

  • Spa
  • No HOA
  • Impact Glass
  • Coral Shores High School Rated A
  • Stainless Steel Appliances
  • Walk-In Closet

About This Home

As of April 2025

What a lovely island escape! This updated and oh-so-charming Marathon bungalow is ideally located near everything that makes the Florida Keys magical--world-class diving and fishing, scenic kayak trails, pristine state parks, gorgeous beaches, and, of course, legendary tiki bars.Designed for easy living from Day 1, this solid concrete home features newer roof, windows, and AC units, plus a beautifully renovated kitchen and bath, a spa, and the convenience of onsite laundry. Fully furnished and completely turnkey, it's an active vacation rental with glowing reviews--giving you the flexibility to enjoy it yourself or let it generate income effortlessly.Whether you're looking for a laid-back island retreat or a savvy investment, this low-maintenance property is ready to welcome you to island life!Buyer to verify all information.

Last Agent to Sell the Property

Erin Kiel

LPT Realty, LLC License #3443309 Listed on: 02/21/2025

LPT Realty, LLC

Co-Listed By

Jaclyn Kelley

Prudential Keyswide Properties

Last Buyer's Agent

Lilas Ashkarian

C 21 Keysearch Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,571

Year Built

  • Built in 1969

Lot Details

  • 2,750 Sq Ft Lot
  • Property is zoned RM - Residential Medium

Parking

  • Off-Street Parking

Home Design

  • Tar and Gravel Roof

Interior Spaces

  • 832 Sq Ft Home
  • Storage
  • Tile Flooring

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Walk-In Closet
  • 1 Full Bathroom

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Impact Glass
  • Fire and Smoke Detector

Outdoor Features

  • Spa
  • Patio
  • Shed

Location

  • Ground Level

Utilities

  • Ductless Heating Or Cooling System
  • Public Hookup Available For Sewer
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Little Venice Subdivision

Listing and Financial Details

  • Minimum Rental Period: 7
  • Assessor Parcel Number 00345860-000000

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,571

Year Built

Built in 1969

Lot Details

2,750 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • First Right of Refusal: No
  • Mandatory HOA: No
  • Fee Includes: None
  • Key Island: Marathon
  • Limited Representation: No
  • Marathon Neighborhood: Marathon East - Ocean (Airport to Vaca)
  • Mile Marker: 53.00
  • Min Rental Days: 7.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: FHA
  • Side: Ocean
  • State Province: FL
  • Taxes: 4571.03
  • Vehicle Storage: Off Street Parking
  • Year Built: 1969
  • Alternate Key Number: 1423734
  • Building Style: Ground Level
  • Cooling Heating: Ductless
  • Lot Sq Ft: 2750.00
  • Porch Balcony: Patio
  • Tax Exemptions: None
  • Building Style Above Flood: Unknown
  • Estimated Living Sq Ft: 832.00
  • Pre Wired: Cable
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Smoke Alarms, Other, Walk-in Closet(s), Storage
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Tile, Combo
  • Specialty Rooms: Laundry Room
  • Windows/Doors: Impact Rstnce Window
  • Appliances Other: Beverage Cooler
  • Total Bedrooms: 2

Exterior Features

  • Dockage: None
  • Waterfront: None
  • Waterfront: No
  • Construction: CBS
  • Exterior Features: Hot Tub, Shed
  • Roof: Tar/Gravel Roof
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Utilities: Municipal Sewer, Cable Available, Buyer to Verify
  • Heating: Ductless

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: AE
  • Parcel Number: 00345860-000000
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.06

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Negotiable

Tax Info

  • Tax Year: 2024

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 21, 2025
Closed on
Apr 28, 2025
Sold by
Bought by
Seller's Agent
Erin Kiel
LPT Realty, LLC
Buyer's Agent
Lilas Ashkarian
C 21 Keysearch Realty
List Price
$539,900
Sold Price
$539,900
Views
38
Current Estimated Value
$566,095

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$26,195
Avg. Annual Appreciation
4.32%
Original Mortgage
$20,000
Outstanding Balance
$15,236
Interest Rate
12%
Mortgage Type
New Conventional
Estimated Equity
$550,859

Purchase Details

Closed on
Feb 14, 2025
Sold by
Bought by

Purchase Details

Listed on
Mar 13, 2022
Closed on
Apr 27, 2022
Sold by
Bought by
Seller's Agent
Sheryl Phillips
Coldwell Banker Schmitt Real Estate Co.
Buyer's Agent
Jaclyn Kelley
Prudential Keyswide Properties
List Price
$489,000
Sold Price
$469,000
Premium/Discount to List
-$20,000
-4.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.67%
Original Mortgage
$351,750
Interest Rate
4.16%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 28, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$288,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 18, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
7.25%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 15, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$155,000
Interest Rate
5.79%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 18, 2001
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,945
Interest Rate
7.53%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 17, 1999
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$78,400
Interest Rate
7.04%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jul 1, 1997
Bought by

Purchase Details

Closed on
Jun 1, 1987
Bought by

Purchase Details

Closed on
Oct 1, 1980
Bought by

Purchase Details

Closed on
May 1, 1979
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$539,900 None Listed On Document
$539,900 None Listed On Document
$539,900 None Listed On Document
-- None Listed On Document
-- None Listed On Document
$469,000 Wolfe Stevens Pllc
$355,000 Townsend Title Ins Agcy Llc
$275,000 --
$165,000 --
$133,000 --
$112,000 --
$89,900 --
$60,000 --
$35,000 --
$30,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $20,000
Closed $20,000
Open $508,750
Closed $508,750
Previous Owner $351,750
Previous Owner $288,000
Previous Owner $220,000
Previous Owner $155,000
Previous Owner $130,945
Previous Owner $78,400
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/28/2025 04/28/25 Sold $539,900 0.0% $649 / Sq Ft
04/26/2025 04/26/25 Pending -- -- --
02/21/2025 02/21/25 For Sale $539,900 +15.1% $649 / Sq Ft
04/27/2022 04/27/22 Sold $469,000 -2.1% $564 / Sq Ft View Prior Sale
03/26/2022 03/26/22 Pending -- -- --
03/23/2022 03/23/22 Price Changed $479,000 -2.0% $576 / Sq Ft
03/13/2022 03/13/22 For Sale $489,000 -- $588 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $4,571 $417,757 $242,688 $175,069
2024 $4,328 $436,275 $260,563 $175,712
2023 $4,328 $406,512 $242,688 $163,824
2022 $3,680 $340,835 $188,375 $152,460
2021 $1,424 $100,587 $0 $0
2020 $1,399 $99,199 $0 $0
2019 $1,372 $96,968 $0 $0
2018 $1,331 $95,160 $0 $0
2017 $1,306 $93,203 $0 $0
2016 $1,304 $91,286 $0 $0
2015 $1,315 $90,651 $0 $0
2014 $1,321 $89,932 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Florida Keys Board of REALTORS®

MLS Number: 613835

Florida Keys Board of REALTORS®

APN: 00345860-000000

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