1223 Margaret Street, Key West - New Lower Price

 I first wrote about 1223 Margaret Street in Key West last August when it was first offered for sale at $1,500,000. Today the house is now available at $1,395,000. The Key West selling season is winding down.  There are fewer and fewer new listings each day. I think now is the time for buyers who want a big impressive house like this to take advantage of the current market.

This three story home was built new (not remodeled) in 1999 by Lauramar Development. That developer built several "in-fill" properties in various Old Town neighborhoods around that same time period. Each of the projects quickly sold out because the houses had the desirable architectural look of "look" of historic Key West homes. The houses were built to rigid new building codes and used modern building materials. The resultant homes are easier to maintain on the outside and offer contemporary living on the inside.

The listing Realtor provides a more colorful description of this property:

" This spacious Old Town tropical oasis is Key West living at its finest. Located in a small condominium compound, at the corner of United and Margaret streets, this colorful free-standing, 3-story Conch house features Mexican tile floors, large windows and porches, and a swimming pool and spa area. The roomy, open concept first floor living area has a well-appointed kitchen with breakfast bar, and plenty of space for dining or entertaining, as well as a half-bathroom. Two large bedrooms, both with updated ensuite bathrooms and breezy porches, dominate the second floor, while a larger bed and bath with an attached office or nursery room, completes the third level. This prime property also includes a small pool house with a full bathroom, and a valuable off-street parking spot. An alarm system will provide security and peace of mind, during those languid strolls to the many shops and restaurants of the nearby White Street corridor, or downtown Key West and Duval Street."

1223 Margaret Street has 2412 sq ft of living space on three floors and sits on a slightly irregular rectangular lot 34' X 98' (3292) sq ft located at the corner of Margaret and United Street. A white picket fence encloses the minimal maintenance front yard. There is a two story front porch with sitting spaces on both levels. There is a small entry hall which offers direct access to the great room to the right and the pool and guest house to the rear. Or you can ascend the first of two tiers of stairs leading to any of the three interior bedrooms. (There's a fourth bedroom in a rear guest cottage.) The living space is really inviting. The current owner has the space brightly painted in Caribbean colors. Plantation shutters filter sunlight for all of the windows. A half bath is tucked under the staircase. There is a two story rear porch which provides a nice shaded area on the ground level and an open sky view on the second level that is located just off the master bedroom.

Both the master bedroom at the rear and the guest bedroom at the front of the second floor have en-suite baths and access to the second floor porches on their respective sides. Unlike most historic Conch houses with small bedrooms, the bedrooms in this home are quite spacious. And you'll be able to sit on the rear or front to drink your morning coffee or sip that last glass of wine before bed.

The third floor is just magical with its angular ceiling, dormer, and its supreme coziness. What a perfect perch to read a book or to write one. The is a grand retreat from the world where most people live. Each of the homes in this compound are different. None of the other homes are arranged like this. So the house is as unique as the people who own it. Imagine how you might decorate this home to meet your lifestyle.

1223 Margaret Street has two off-street parking places. One is located on the north side at the front of the house and the second is located off the private lane at the rear. Four other homes in the compound have private parking behind their homes here as well. The yearly HOA Fee is just $375. Each owner is responsible for the maintenance and insurance of his or her respective home which is owned in fee simple.

CLICK HERE to view the Key West MLS 1223 Margaret Street, Key West and then please call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West the listing brokerage for this lovely home.