I know that when most prospective buyers decide to look for a second home in Key West that they want to find a charming place in Old Town with a white picket fence, off street parking, a pool, and two or three bedrooms. Many such buyers hope to find a place that is priced in the $500,000 and under price range. These buyers get shocked when I send them the sparse listings that actually exist in the under $500,000 price range. We look anyway and many buyers either decide to spend more money or to go home suffering from sticker shock or down-right real estate depression.
The home at
221 Golf Club Drive is located four miles east of Old Town Key West. It is offered at
$549,000 or
$343 per sq ft for this
1600 sq ft home that was built in 2001. And it comes
fully furnished. It has three bedrooms, two full baths plus a potential fourth bedroom (or guest room or office) located off the living room. There is a guest bath on the main floor which makes that guest room option viable.
This home is in move-in condition. I have shown it several times to a variety of buyers with differing motivations. The people I showed it to wanted a house in Old Town. And they understood the value of this house. They just could not get around the fact that they could not get an old house in Old Town for the same price. You just can't and that is that. I did a sample search and determined a similar house would cost about $1,045,00 or $594 per sq ft. I don't know about you, but I would not mind a brief trip to Old Town for dinner or to see a play or whatever if I could save $500,000.
221 Golf Club Drive is located in
The Sanctuary at the
Key West Golf Club. The golf club is a non-membership golf course open to the public. We don't have a country club here, but if we did, this house would be on the country club grounds. There is a manned gated entrance to the area itself. The Sanctuary has a separate gate that separates this area from the other houses in the development. Golf Club Drive becomes a large loop that exits through the same gate. Houses on either side have various views of the golf course. The view from this home is protected by large trees. I would probably trim the trees back a bit. But a new owner may like the privacy the trees provide.
Like all of the large homes in The Sanctuary, this home offers a gracious entrance into the foyer which then flows into the expansive living area. French doors at the rear beckon the eye to see what is located beyond the doors that frame the golf course view. The office or guest bedroom is located just off the living room.
A large rear covered veranda provides serene views of the pool and rear garden area. There is a similar covered porch off the master bedroom located on the second floor rear. There are four porches in this home - two in front and two in the rear. What kind of chance do you think you could find something like this in Old Town?
In addition to the covered real porch, the master bedroom includes an en-suite bath and a large wall of closets. There are two additional bedrooms located at the front of the home on the second floor. They share a second bath, and both have access to the second floor front porch.
221 Golf Club Drive
has never been rented as a
vacation rental. But if you are a buyer that would like that option, I think this home would make a great vacation rental. In addition to the private pool and covered off street parking, the owner (or guest) of this home may use either of the two community pools or the fitness center. I gotta tell you that the large pool is magnificent. It is huge and always super-clean and very inviting. Guests can spend their vacation poolside at home or with others. Or they can take to the links or drive into town. But at night they can return to the sounds of silence that The Sanctuary provides.
CLICK HERE to view a slide show of more photos of this home. After you have taken a look, please call me,
Gary Thomas, to see this property.
305-766-2642. This is not my listing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. If you look at this property with me I think you will agree that it is the best deal in town.
CLICK HERE to view the Key West mls datasheet and to view listing photos.
2 comments:
Hi Gary,
I think the old town price that you quote for the same house calculates to about $653 per sq ft. Thought that you might like to know that your readers really do pay attention to what you write. Thank you for your great blog!
Dear Anon, Thanks for your input. I used current listings in Old Town with 3/2 plus 1/2 bath and similar square footage. Agent side of the mls let me do a simple cma that arrived at the average price. One of the problems buyers have in comparing Old Town houses is that none are the same. So average price per sq ft in Old Town is not a predictor of what a specific house is worth.
However, since there are several current listings at the golf course it is easy to compare 221 Golf with the other properties. I like 221 Golf because (1) it is clean as can be and has been meticulously maintained and (2) it is offered furnished. I have been inside (and sold one of the largest houses out there) that are not in good condition - I mean like not good at all. To have a really nice house that you can move into an not have to spend a dime is a novelty in Key West.
Gary
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