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Sunday, August 3, 2008

3533 Flagler Avenue Key West Florida

Bank Owned house at 3533 Flagler Avenue in Key West, Florida is begging for a buyer. This 1950's vintage house has 4 bedrooms, 3 baths, a new kitchen, a separate laundry room, an enclosed backyard with a nifty pool, and balcony off the master bedroom overlooking the pool. The house is 1658 sq ft according to the property assessor, but I suspect it may be a little bigger because of the rear addition to the house. The lot is 5000 sq ft. The current asking price is $470,900 or $282 per sq ft.

Like a lot of bank owned houses this guy needs some tlc. Most of the floor are ceramic tile but the stairway and upstairs bedrooms are carpeted and soiled. The walls need painted and the house needs a bath for sure. And the pool needs cleaned immediately. The previous owners apparently liked bold colors, because all the walls are vibrant. Even the exterior grabs your attention. I'm no builder and what I say doesn't mean squat, but the house looks to be in pretty good shape on the outside and inside.

There are two bedrooms and two baths on the second floor, neither of which is very large. I'd remodel and create one large master suite with a larger bath. The french doors overlooking the pool below is really nice, irrespective how bad the photo to the right may seem.

The backyard could be incredible. It is very forlorn at this time, but the space is there to create a tropical oasis. There is a terrace for outdoor dining as well. The front has a white picket fence and two separate driveways that should make entrance and exit easy for the most challenged driver. CLICK HERE for more detailed info on this house.

PROPERTY IS LENDER OWNED! OFFERED AS-IS Without REPAIR. Countrywide provides free credit report and appraisal when financed through Countrywide.

I did a quick check of comparative sales for 3 plus bedrooms and 3 baths in the New Town area. There have only been 2 in the past 6 months of properties that compare with this one. A bank owned property on Flagler not in as good a condition sold at $132 per sq ft. Another bank owned house on 16th Terrace that was 400 sq ft smaller but had a larger lot sold for $320 per sq ft. Flagler is always a pretty hard sell. I don't think the bank owner will sell at the asking price or anywhere near it. But I do think this house definitely has a lot going for it.

This house is not a major fixer-upper. It sure does need cleaned and painted and there are a few issues a certified home inspector should look at for any buyer. But I think this house might make somebody a good home at a good price. If you want to see 3533 Flagler please call me, Gary Thomas, 305-766-2642 or e-mail me at

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Gary Thomas in a Nutshell

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.