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Saturday, September 28, 2013

510 Margaret Street - Old Town - Key West

Just listed, but not by me, 510 Margaret Street - Key West. The two story main house and cute guest cottage have a combined square footage of 2052 sq ft at one of the very best locations in Old Town.  The lot is an irregular rectangle of approximately 22.5' x 65'. The lot runs from Margaret thru to Scheppens Lane at the rear. The entrance to Scheppens Lane is located on Fleming Street.

The listing Realtor describes 510 Margaret Street this way:
"This beautiful home has been completely and perfectly renovated with superior finishes and quality craftsmanship. The property includes 510 Margaret Street and adjoining 3 Scheppens Lane. The 3BR, 3BA main house has a large vaulted great room opening onto the rear yard and pool with stacked stone waterfall, Dade County Pine walls and hardwood floors throughout, magazine quality kitchen and gorgeous baths. The 1BR guest cottage has a full bath, fully equipped kitchen and living area. Both houses are designed for entertaining with light filled living areas opening through glass doors to the rear yard. This fantastic property is located in one of the most desirable blocks in Old Town between Fleming and Southard Streets."
As has been my recent custom, I went to the old Sanborn Fire Maps to see if I could determine when this home was built. Our property records were destroyed in the great fire and workers from the WPA created new ones. Unfortunately, they did not research the dates and gave us erroneous or maybe incomplete information. Anyway, I found what I believe to be 510 Margaret Street on the 1889 Sanborn map which also shows the cottage on Sheppens Lane.  Coincidentally the house next door at 512 Margaret is shown as well. These two houses are nearly identical and finding both on the same map reaffirms my belief as to the earliest record of their existence. I dug really deep into the old shoebox and found a photo of 510 Margaret Street that was taken back in 1965.  Compare it with the facade in September 2013. 
This home is the archetype that would-be second home buyers search for in a grand Conch house. The house sits behind the required white picket fence where three palms lets you know this traditional home is not located in the cold north. There's a bit of gingerbread but not so much as to distract from the simple and clean lines of this home. The home boasts front porches on both first and second floors either of which are perfect perches for people watching.

Inside the formal entry lets you know you have arrived at a special home. A spacious guest bedroom with en-suite bath is located just off the entry. Two doors allow this space to open more fully to public view is used as an office or study. But when the doors are shut, this space provides comfortable sleeping accommodations.

The main living area includes a newer addition to the rear of the historic house. The living space includes a vaulted ceiling and rear window wall that allows light filtered by the palms to illuminate the area during the daytime. Cooks will relish in the posh pastry palace.  
The home opens out to the pool with waterfall, the deck, and the guest cottage. Guest staying the guest cottage have private access from Scheppens Lane. So they won't need to awaken you after a long night on the town. (Note the gate in the second photo below. It provides access for the pool man.) The cottage comes complete with small living area, kitchenette, bath, and bedroom. The cottage is the epitome of what all guest cottages seek to be: perfect!
Dade County Pine walls are a distinctive feature throughout the main house. They provide rich texture to the rooms on which a new owner can add art to personalize each living or resting space. Speaking of resting, the two bedrooms on the second floor provide wonderful spots for nightly accommodation. The front bedroom includes access to the front balcony. Both bedrooms have separate en-suite baths.
This home would make a wonderful Key West vacation rental. It could accommodate three couples in the main house and a fourth couple in the cottage. The location is within a short walk to Duval Street or the Historic Key West Seaport.  Michael's Restaurant and Mangia Mangia are nearby as is the neighborhood fresh produce market down on the corner at Fleming Street. Some of the more expensive homes in Key West are located nearby as well. It is Key West where old buildings are treasured and newcomers are welcomed. CLICK HERE to view the Key West mls datasheet on this home.
If you would like to see 510 Margaret Street or any other property in Key West, please call me, Gary Thomas, 305-766-2642 or send me an email at I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your home in Paradise.

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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.