31 Blue Water Drive is located about Mile Marker 15 on Saddlebunch Key. CLICK HERE for a GOOGLE aerial view. It's a bit of a wreck right now. A new buyer will likely have trouble getting a mortgage as there is no existing kitchen, and that is normally a prerequisite to getting a mortgage. But it you have a saw and hammer and good design and building skills, this could be the little Florida Keys Dream Home you have been dreaming about. It is offered for sale at just $250,000.
The listing Realtor describes this property like this:
"Open water views from this canal front home. Fantastic renovation project. Approximately 68ft seawall in place. Build or renovate your perfect Florida Keys dream home on this waterfront lot. This property is exempted from the FEMA insurance injunction because the structure was in existence as of 9/12/2005."The present house has 2 bedrooms, 1 bath, no kitchen, 1044 sq ft of interior living space, a carport and a rear deck that overlooks and incredible canal that opens out in the great Atlantic Ocean. I can't overstate how damned beautiful that view is. It is stunning.
This is the type of property better suited to a cash buyer with some construction skills or access to additional money to fund renovation costs. The property is located in Monroe County so county building code applies, not Key West. CLICK HERE to view the Key West mls datasheet on this property.
Several of the other houses in the neighborhood have been updated with second story additions. I think this place could be expanded or kept its small size and keep the renovation costs quite manageable. Whatever course a new owner decides, the view from the rear of this property is worth the investment in my opinion. And the location is only a 15 minute drive from Key West. So you can have your dream house all the time and nearness to Key West. CLICK HERE to view a slide show of photos of this property.
If you would like to see 31 Blue Water Driver please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.