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Tuesday, January 29, 2013

617 Simonton Street - Key West - a Potential Money Maker

A lot of would-be buyers seek a second home in Key West that they can occasionally rent to help defray the cost of home ownership.  As a home owner in Key West you can legally rent just about any property in town as a vacation rental (30 days) provided you have city non-transient occupational license. Notice I wrote "non-transient" which means not nightly or weekly.  Even though Key West is a small town, some locations are better suited to a vacation rental than others.  The house at 617 Simonton Street has an excellent location that is close to just about all the places vacation travelers want to go. And it has the amenities like a private pool and off street parking that many travelers prefer.

617 Simonton Street is a town home located in The Gardens of Key West just one block east of Duval Street. This home has the features most second home owners seek and it is priced at just $825,000. The listing broker describes the home this way:
" Lovely two bedroom home in highly desirable Gardens of Key West community in Old Town Key West. New construction meets Old World Charm to achieve a great downtown lifestyle. Fully renovated chef's kitchen, open floor plan and bright and airy rooms. Large master suite with ensuite bath. Private yard with heated pool and private carport for off-street parking. Great porches and outside covered spaces. A wonderful newer home located in a prime Key West location. A Tropical Oasis for Comfortable Island Living."

Lauramar Developers built this home and several others in a little compound called The Gardens of Key West in 1997. I remember the construction project quite well because I thought about buying one of the houses. I hemmed and hawed and mused and dilly-dallied. The homes had all the features I thought would work for me and were initially offered for sale at an incredible price. Several units were purchased immediately, and the developer suddenly increased the asking price to meet the market demand. Free Enterprise!

The houses had the historic "look" that buyers wanted, but they had modern interior layouts and functionality that the old houses did not have. And they were built with new materials such as Hardiboard siding which is a man made material that is termite resistant and holds up to the Key West sunshine and weather.  Each house had a private pool and off street parking.

The listing Realtors' description pretty much gives you the basics. The ground floor has a formal entry which opens into the great room. The kitchen is located at the front of the house and merges into the dining area and living area at the rear. A guest bath is located under the stairway. As soon as you enter the house it is the view of the pool at the rear that attracts your attention. Who could resist looking at the pool surrounded by tropical palms?

Upstairs you will find the two bedrooms. The guest bedroom is located at the front. That bedroom has its own en-suite bath. The second floor front porch is accessed off this bathroom.  This is a great people watching space all the time, and it is especially a great place to watch people during the annual People's Parade at Fantasy Fest. The master bedroom and master bath are located at the rear.

Perfect perch for people watching
Front bedroom with en-suite bath
Master Suite is located at the rear and overlooks the private pool
This home is the only home at The Gardens of Key West with covered off street parking. That means you won't melt under our sun or get drenched during a rainstorm while getting in and out of the car. The carport is located adjacent to the back of the pool area.  The home owner association is responsible only for the common area maintenance which is primarily the bricked driveway and parking area. Fees are just $250 per year. CLICK HERE to view the Key West mls datasheet and to view the listing photos.

This home would make a great getaway home for a single or couple seeking a Key West home that requires little maintenance and that offer a great location within easy walking distance to most of the attractions in the Old Town area. It would make an excellent vacation rental and could provide a bit of extra income to help pay for itself over the years. This home has been successfully rented as a vacation rental for several years. I think this property has a lot of potential as a money maker. To view more photos CLICK HERE.

If you would like to see 617 Simonton Street please call me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your home in the Conch Republic. Remember, this house is located next door to the Embassy of the Conch Republic. That's status!

Conch Republic Embassy is located next door to 617 Simonton Street

1 comment:

House Barcelona said...

Wow such a amazing homes. This home is the only home at The Gardens of Key West with covered off street parking. I love to see luxury homes pic


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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.