NOT LISTED FOR SALE

550 Ocean Cay Dr Key Largo, FL 33037

Estimated Value: $6,666,752 - $7,513,000

4 Beds
4.5 Baths
5,422 Sq Ft
$1,303/Sq Ft Est. Value

Last Sold March 19, 2021

Last sale price $4,500,000 $830 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $40,292/month

27 Days on Market

Highlights

  • Ocean Front
  • Dock made with concrete
  • Concrete Pool
  • Coral Shores High School Rated A
  • Home Theater
  • 1-minute walk to Key Largo Community Park

About This Home

As of March 2021

Oceanfront Elegance on the Cay! Ocean Cay is a premier gated community, an enclave of oceanfront homes sought after for their protected deep-water dockage. Upon entering the commanding residence, soaring ceilings and the open design only serve to enhance the ocean vistas. Four large bedrooms, four and a half baths and a beautifully Bali-themed secondary living area. Expansive home theatre/media room plus a temperature-controlled wine room to delight any wine connoisseur. The chef's kitchen includes stainless steel appliances, central island and sit-up counter, all with the utmost in finishes and ideally located adjacent to the formal dining area and Great Room. The unique wrought-iron staircase to the main level leads to the main bedroom with walk-in closet, which captures sweeping ocean

Last Agent to Sell the Property

Joy Martin

American Caribbean Real Estate, Christie's International Real Estate License #0524075 Listed on: 01/05/2021

Last Buyer's Agent

Silvestri Team Jeanette & Janessa Silves

Coldwell Banker Schmitt Key Largo License #3258182

Coldwell Banker Schmitt Key Largo

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $15,262

Year Built

  • Built in 2005

Lot Details

  • 0.28 Acre Lot
  • Ocean Front
  • Home fronts a canal
  • Privacy Fence
  • Fenced
  • Property is zoned IS - Improved Subivision District

HOA Fees

  • $83 Monthly HOA Fees

Property Views

  • Ocean
  • Canal

Home Design

  • Metal Roof

Interior Spaces

  • 5,422 Sq Ft Home
  • 3-Story Property
  • Wet Bar
  • Bar
  • Cathedral Ceiling
  • Ceiling Fan
  • Blinds
  • Sliding Doors
  • Entrance Foyer
  • Home Theater
  • Storage

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Wine Cooler
  • Stainless Steel Appliances
  • Granite Countertops
  • Built-In or Custom Kitchen Cabinets
  • Disposal

Flooring

  • Marble
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Walk-In Closet

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Home Security System
  • Impact Glass

Parking

  • Garage
  • Electric Gate
  • Open Parking

Pool

  • Concrete Pool
  • In Ground Pool

Outdoor Features

  • Davits
  • Dock made with concrete
  • Balcony
  • Patio
  • Outdoor Water Feature
  • Exterior Lighting
  • Outdoor Storage

Utilities

  • Central Air
  • Propane
  • Public Hookup Available For Sewer

Community Details

  • Association fees include common area mnt
  • Port Largo Subdivision
  • Rental Restrictions

Listing and Financial Details

  • Minimum Rental Period: 28
  • Assessor Parcel Number 00453475-016600

Home Details

Home Type

Single Family

Est. Annual Taxes

$15,262

Year Built

Built in 2005

Lot Details

0

HOA Fees

$83 per month

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 1000.00
  • Mandatory HOA: Yes
  • Dockage Dock: Concrete
  • Fee Includes: Common Area Mnt
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Key Island: Key Largo
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 100.00
  • Min Rental Days: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 15262.01
  • Vehicle Storage: Attached, Open Parking, Garage, Covered Parking
  • Year Built: 2005
  • Alternate Key Number: 1556751
  • Cooling Heating: Ceiling Fans(s), Central Air
  • Lot Sq Ft: 12120.00
  • Pool Info: Concrete, In Ground
  • Porch Balcony: Open Porch/Balcony, Patio
  • Association Maintenance Fee Per: Yearly
  • Tax Exemptions: None
  • Building Style Above Flood: No
  • Building Style Stories: 3 Stories
  • Estimated Living Sq Ft: 5422.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 3

Interior Features

  • Interior Amenities: Bar, Security System, Wet Bar, Walk-in Closet(s), Storage, Pantry, Granite Counter Top, Cathedral Ceilings, Entrance Foyer, Drapes/Blinds Incl, Built-in Cabinets
  • Total Bathrooms: 5.00
  • Full Bathrooms: 4
  • Appliances: Dishwasher, Wine Cooler, Washer, Range, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Appliances, Dryer, Disposal
  • Floor: Marble, Tile
  • Half Bathrooms: 1
  • Specialty Rooms: Laundry Room, Theater Room, Media Room
  • Windows/Doors: Glass Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Appliances Other: Wine Room
  • Total Bedrooms: 4

Exterior Features

  • Dockage: Davits
  • Waterfront: Canal Front, Oceanfront
  • Waterfront: Yes
  • Construction: CBS
  • Exterior Features: Bar, Water Display, Storage, Privacy Wall/Fence, Lighting, Fencing
  • Roof: Metal Roof
  • Waterview: Canal View, Ocean View, Open Water View
  • Pool: Yes

Utilities

  • Security: Electric Gate
  • Utilities: Buyer to Verify, Propane, Municipal Sewer, FKAA

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: VE,VE
  • Parcel Number: 00453475-016600
  • Land Size: 1/4 - 1/2 Acre
  • Acres: 0.28

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 5, 2021
Closed on
Mar 19, 2021
Sold by
Coakley Robert J and Coakley Lisa M
Bought by
Deyo Charles and Deyo Robin
Seller's Agent
Joy Martin
American Caribbean Real Estate, Christie's International Real Estate
Buyer's Agent
Silvestri Team Jeanette & Janessa Silves
Coldwell Banker Schmitt Key Largo
List Price
$4,900,000
Sold Price
$4,500,000
Premium/Discount to List
-$400,000
-8.16%
Current Estimated Value
$7,064,188

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,564,188
Avg. Annual Appreciation
9.79%
Original Mortgage
$3,150,000
Outstanding Balance
$2,810,891
Interest Rate
2.7%
Mortgage Type
New Conventional
Estimated Equity
$4,253,297

Purchase Details

Closed on
Jul 15, 2003
Sold by
Schultze Adelaide U
Bought by
Coakley Robert J and Coakley Lisa M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
3.75%
Mortgage Type
Unknown

Purchase Details

Closed on
Feb 14, 2001
Bought by
Coakley Robert J and Coakley Lisa M

Purchase Details

Closed on
Jan 1, 1988
Bought by
Coakley Robert J and Coakley Lisa M

Purchase Details

Closed on
Sep 1, 1982
Bought by
Coakley Robert J and Coakley Lisa M
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Deyo Charles $4,500,000 Attorney
Coakley Robert J $850,000 --
Coakley Robert J -- --
Coakley Robert J -- --
Coakley Robert J -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Deyo Charles $3,150,000
Previous Owner Coakley Robert J $1,000,000
Closed Coakley Robert J $500,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/19/2021 03/19/21 Sold $4,500,000 -8.2% $830 / Sq Ft
02/01/2021 02/01/21 Pending -- -- --
01/05/2021 01/05/21 For Sale $4,900,000 -- $904 / Sq Ft
Source: Florida Keys 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 $39,252 $4,444,427 $2,702,910 $1,741,517
2024 $37,362 $4,887,296 $2,551,402 $2,335,894
2023 $37,362 $4,626,953 $2,363,542 $2,263,411
2022 $33,334 $4,273,415 $1,999,942 $2,273,473
2021 $15,975 $1,934,668 $0 $0
2020 $15,863 $1,907,957 $0 $0
2019 $15,536 $1,865,061 $0 $0
2018 $15,551 $1,830,286 $0 $0
2017 $15,212 $1,792,641 $0 $0
2016 $15,443 $1,755,770 $0 $0
2015 $15,588 $1,743,565 $0 $0
2014 $15,891 $1,729,727 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Joy Martin

    Seller's Agent in 2021

    Joy Martin

    American Caribbean Real Estate, Christie's International Real Estate

    (305) 394-7866

    43 in this area

    123 Total Sales

    Joy Martin
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Map

Source: Florida Keys Board of REALTORS®

MLS Number: 593996

Florida Keys Board of REALTORS®

APN: 00453475-016600

Florida Monroe County Key Largo 33037

550 Ocean Cay Dr, Key Largo, FL

Not Listed for Sale

Detached

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