630 Margaret Street, Key West - Just Listed

 

Just Listed 630 Margaret Street, Key West. This has to be one of my favorite houses in Old Town. I love it for the simplicity in design and its super-quite location abutting Carey Lane and across the street from the Key West cemetery. 

Let's get the basics out of the way. The Monroe County Property Appraiser shows the house was constructed in 1938. I checked the historic Sanborn Fire Maps and actually found the house first appeared in the 1912 map. The lot was vacant up to the 1899 map. There were numerous other house built on Margaret and Angela Street (later renamed Carey Lane. 630 Margaret St was an infill. So we know it was built sometime after 1899 and before 1912. I mention this as the house is atypical for its design as compared to other homes in Old Town which are often referred to as Conch House. It is a bungalow style home that emerged after the turn of the 20th Century.

The lot measures 29 feet wide and 72 feet deep. There is a gate at the rear that opens out to Carey Lane - one of the prettiest slow lanes in Key West. The backyard is large enough to add a pool. The backyard has some tropical plantings but it is mostly concrete patio. The front yard is gated and private. 

The house has an enclosed front porch which enters into the living and dining area. There are two bedrooms on the right side of the house. The rear bedroom has a door that enters the bathroom. The bathroom may also be accessed off a second door in the kitchen. I took some interior photos shown below. 

This may sound crazy but an investor could buy this house and rent it out as a long term rental without spending any money on fix-up. Everything looked in good operating order to me. A home inspection is needed, but I feel confident the place is okay to start making money for a passive investor. This property will continue to appreciate as the inventory of un-fixed homes shrinks and property values escalate. I think this could rent for $3,500 per month or more. Or buy it and renovate it.

CLICK HERE to view the Key West MLS datasheet and professional photos. Then please contact me, Gary Thomas, 305-766-2642, to arrange a private showing. The place is vacant and easy to see. Trust me this place will sell quickly. Don't scratch your head thinking about it. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

True Tales of Key West Real Estate in the Times of Covid 19 - No Twelve

 

This really happened. Sometime in the early 2000's. I was working as an agent at Prudential Knight Real Estate at 336 Duval Street Key West. I had floor duty that day. A woman beyond middle age came inside and asked to look around the building. She said she grew up in the property which was once the Key West school house and later was a single family home. Later it became a real estate office. I walked her through the property and then we went out back where there are six very valuable parking spaces. She pointed to the northwest corner of the lot. She paused. Hesitated. And then recalled the most dreadful remembrance of having lived there. The out house in the northwest corner.

She told how horrible it was anytime. She mentioned the unbearable smell, the heat and the rain but it was especially scary at night. All by herself. In the dark. She said she ran back inside of the house as quickly as possible.

 

 

316 southard Street. Key West - Just Listed - Re-Development Potential

The newly listed property at 316 Southard Street in Key West popped onto my MLS platform late Thursday afternoon. I immediately sought permission from the listing agent to blog about it. You may scratching your head wondering how much medicinal marijuana I was on. Trust me, I was as sober as the Pope. Maybe more.

Southard Street is main public entry in the Truman Annex which has become the most popular residential community in Key West. The aerial photo above was taken in the 1920s. I added the X to show the location of 316 Southard. Several of the neighboring properties were razed and rebuilt. The court house square has been both expanded and rebuilt. The old jail and original court house in the center remain. 

This photo from 1900 shows how large Key West had expanded after the Civil War. Whitehead Street to the left (east) was and remains one of the busiest streets in Old Town during the daytime as tourists and delivery trucks navigate the island. Most of the traffic grinds to a halt soon after 5:00 PM when the attorneys and judges go home, the deliveries are completed, and the tourists head back to their temporary homes to prepare for the evening.

I searched the Historic Sanborn Fire Maps found 316 Southard Street existed as early as 1889. The original house appears to have been enlarged. Later a second house existed a bit further back on the huge lot - it runs 140 feet deep and 40 feet wide to 48 feet wide at the rear where a walking lane leads over to Duval Street. The second structure later disappeared off the lot. 

 

The listing Realtor describes the property this way:

"Old Town Diamond in the rough beckons to be returned to its former splendor. This island gem sits on 5900 + sq ft lot in the X-FLOOD zone. Been in same family for nearly a century. Dade Co Pine & most rooms have 11 ft ceilings! Back yard is spacious enough to accommodate construction of a pool or expansion of the residence & boasts one of few surviving out houses in KW. Distance across the rear yard from back door to back wall is 63 ft. Mature fruit trees include Spanish lime, mango and Madagascar plum. Fantastic location less than 2 blocks from World Famous Duval St, 3 blocks from Hemingway House, a 1/2 block from the entrance to the Truman Annex & a 1/2 block from the Green Parrot! Off street parking (hard to find in Old Town) & HRO zoning. Existing driveway is 52 ft long. This is a renovation project, but will be a treasured Key West residence! Property being sold As-Is with no repair & no clean up".

The top photo demonstrates the interior height and shows earlier "renovation" when acoustic ceiling tiles were added. The second photo shows Dade County Pine ceiling in the hallway. I have often blogged about modernization's of yesteryear. Owners in the fifties and sixties added drywall and tiles to hide Dade County Pine thinking it was too old looking.

The above two photos show Dade County Pine walls and what appears to show a former porch having been incorporated into the interior. The floors may or may not be level. That all gets taken care of during any renovation. The good thing is this property is located in the X Flood Zone. 

CLICK HERE to view the Key West MLS datasheet and more listing photos of 316 Southard Street, Key West. Then please call me, Gary Thomas, 305-766-2642, to discuss purchase options on this property offered at $1,800,000. I am a buyers agent and a full time Realtor at Preferred Properties Key West.  

 

1106 Petronia Street, Key West - Just Listed

 

Just Listed 1106 Petronia Street, Key West. How cute is this place and what a great Old Town location on a one-way street that is only two blocks long. I dug down into my old shoebox and found a photo of the property back in 1965. It hasn't changed much. What do you think? Actually it aged better than most people do.

Let's look at more photos of the exterior where most people who live here spend most of their time. And this house has a terrific outside.

The house was built in 1893. It has been in the same family ownership for decades. It has been lovingly cared for. The above photo was taken on the front porch looking northwest toward the Key West cemetery located on the far side of Frances Street - about 200 feet to the west. The house sits toward the front of the 3,668 square foot lot which is densely landscaped front to back.

The listing Realtor describes the property this way:

"Located in the heart of Old Town this sweet cottage is nestled among mango trees, avocado trees, fig trees and more. The home includes three bedrooms and one bath with a bedroom on the first floor and two bedrooms on the second floor. The side yard features the makings of an outdoor kitchen area and covered gazebo along with a spacious backyard with room for a private pool among the topical landscaping. When it's time for entertaining, you'll experience a rear porch off of the kitchen that is perfect for outdoor dining and visits with friends. This home is located in a quiet desirable neighborhood and awaits your new ideas with endless possibilities."

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The house has been updated a bit but not by too much. There is room to improve but the place is livable as is until you decide exactly what you want to do. In the meantime rest on easy street, I mean Petronia Street, and enjoy the location.

CLICK HERE to view the Key West MLS datasheet and listing photos of 1106 Petronia Street, Key West offered for sale at $1,300,000. Then 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.

Scenes from an Open House in Key West

There are many ways the pandemic has changed our lives in Key West including the elimination of in person Realtor Caravan. Boo Hoo! you say. It is a real loss for me as it gave me and other agents the opportunity to see new listings and houses that had been on the market longer than six months to get a fresh look. I have resorted to going to open houses to check out new listings as an alternative. 

The photo above is not from one of the open houses so don't think what I am about to write has anything to do with this house. But I did select this photo because it is typical of what I am seeing in many renovated and some newly built homes in Key West - blah.

One particular open house was a brand new renovation. It had new windows, doors, floors, lighting, air conditioning, on demand hot water, fans, pool, wood deck, landscaping, outdoor lights, irrigation system, and nine yards of mulch. It looked a lot like the photo above. In fact it looked like about every other recent renovation in Key West. The appliances, decking, cabinetry were cheaper than featured in many similarly priced homes. That was surprise. I wanted to be impressed but left distressed. The price was so high that I expected more but I got nothing I had not seen before and better done at lower asking price. 

There is more. The thing that makes Key West architecture so interesting is that is was interesting. Earlier renovations improved on what had been built by craftsmen in the 19th Century. Most of the stuff I am seeing comes out of Home Depot which imports its products from Asia. The landscaping at the particular open house was as cheap as the owner could find and sparsely plated. 

You can buy the same blah bedroom and Home Depot kitchen and baths in other locations for a lot less money. Why come to Key West to add a couple zeros to the purchase price to get the same thing?

There are still great properties in Key West. You need to work with a seasoned Realtor to find them. I am available to help you avoid buying the wrong property.

 

Seem's Like Old Times in Key West

 

Readers are aware that I have not posted very many actual real estate posts lately. That's because the market has dried up. Many well priced new listings with go under contract right away while many others are so outrageously price I won't give the agents the time of day. 

There are a lot of new agents in town. Be careful who you are dealing with. Ask a lot of questions. Feel the agents out. Ask them their background - what they did and where. How did they get here, how long have they been here, and how did they become the real estate expert the claim to be. 

So what does the lady on the horse have to do with the return to old times in Key West? For decades both seasonal workers and long time residents would take a break from Key West and head north for cooler climates from August thru October. Local restaurants and some tourist related businesses would offer discounts to locals. After Hurricanes Wilma and Irma discounts were offered to just about anyone until a week before Christmas. This week I started to notice Locals Only Discounts of 50% Off from Monday thru Thursday at many eateries. 

I have also noticed most of the hotels are not as full as they were. While there are still a lot of tourists in town, they do not look like, dress like, nor spend money like the folks we have been used to seeing for so many years.

3732 Flagler Avenue - Key West Single Family Home on the Riviera Canal

Just Listed by Preferred Properties Key West

3732 Flagler Avenue, Key West 

Long time readers of my blog know there are only a few homes or condos with water views on the island of Key West and those that do exist tend to sell soon after they get listed for sale. I expect the new single family home listed today by Preferred Properties Key West will go under contract within a matter of days if not hours. 3732 Flagler Avenue is located about one block from where the Rivera Canal merges into Cow Key Channel which is the gateway to the Atlantic Ocean. You could be in the water and headed for cocktails within a matter of minutes after you arrive at home - if you still work. The Key West golf club is about a five minute drive. Old Town will take about ten minutes if the traffic is good. If you live in the northeast and commute on a train you will laugh at our rush hour traffic.

The existing house is a 3/2 mid-century ranch sitting on a 9,458 square foot lot. The house could be renovated but will more likely be razed and a new home built on the lot. Two nearby homes sold over $4 million in the past year - one renovated and the other new construction. The location is the draw. Bring your imagination and checkbook

CLICK HERE to view the Key West MLS datasheet and more listing photos of this home offered at $1,450,000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing of 3732 Flagler Avenue, Key West, Florida. I am a full time Realtor at Preferred Properties Key West.