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Monday, May 2, 2011

408 Porter Court - Key West - Money Maker


View from second floor balcony overlooking pool

The listing Realtor minces no words in the description of this sharp Porter Court townhome:
"Perfect end unit in exclusive Porter Court - a gated community of only 19 within Truman Annex in Old Town Key West. This beautifully decorated turnkey property can be rented transiently and has the best rental income in the complex. 2 bedrooms, 2 and one half baths with Plantation Shutters throughout and is ideally located with a private entrance off of Fleming Street. Large side and front decked yards and a second floor porch overlooking the pool and courtyard add to the feel of this tropical resort property. The perfect second home and investment with a great rental history. Paradise found!"
Private entrance off of Fleming Street

408 Porter Court is really cute two story townhome. While some buyers buy places in hope that the rental income will help defray costs of ownership, this unit really delivers and has a great rental history. It was the top producing property in Truman Annex in 2010 and it has substantial pre-bookings for 2011 and 2012. A buyer who wants heads-in-beds to help make the mortgage payments on a second property like this can appreciate the value of having vacationers that return year after year. It is like having money in the bank.

This 1140 sq ft unit was built in 1992 but it does not look like it. The kitchen is very current as are the baths. All rooms are nicely furnished. French doors open from the living room onto one of two rear decks. I did not see any deferred maintenance. What I did see was a nice inviting back entry (right onto Fleming Street). That means you can or your guests can by-pass going through the main entry and make a quick exit directly to your favorite Old Town hangout. Fleming Street as well as all other gates are locked at night but owners and guests have keyed access.This Transient Licensed unit is offered at $749,000. CLICK HERE to see the Key West mls datasheet on this unit.

Front Street meanders through Truman Annex from Southard Street

Gracious Truman Annex homes make visitors want to return year after year

Truman Annex gives vacationers a sense of security, comfort, and nostalgia

Truman Annex has seven different communities that include condos, townhomes, and single family homes with different features and various price points. The location has become a perennial favorite for returning visitors. It is close to everything but it is also very quiet.

If you are looking for a place in Paradise that you can occasionally rent to help with the mortgage payment, you might want to take a look at this Porter Court unit. Please call me, Gary Thomas, 305.766.2642 to arrange a private showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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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.