Instead of searching for Easter Eggs this weekend, maybe you should be searching for bargains. I recently showed 2518 Fogarty Avenue in the mid town area of Key West, and I think this is a hidden bargain for the right buyer. The listing Realtor describes the property like this:
"Single family CBS (3BD 1.5 BA) home with separate 450 sq. Ft licensed guest cottage. There is a new metal roof on the main house, recently painted interior and exterior, newer appliances, and room for a pool. The main house is currently rented through June 30th 2011. The guest cottage is open and previously rented for $1000/ month."
Large living room at front of house
Dining room opens to rear deck
Front bedroom is one of threeThe house was built in 1951 and is a typical ranch, of sorts. The Monroe County Property Appraiser shows the house as being 1880 sq ft (including the guest cottage). The listing agent says the house has 3 bedrooms. There is a nice sized living room, kitchen, and family room plus office/study/ or fourth bedroom.
The legal guest cottage is the show stopper. This place is super cute, super clean and way cheap if rented at just $1,000 per month. It is located at the rear of the 50' x 100' lot and has a separate access from the front gated access to the yard.
Guest cottage living room - this place is sweet!
Guest cottage kitchenThe rear area of the main house currently has a large spa, but there is both room for a pool and easy access for construction of a pool. The front yard is nicely landscaped and protected form the street by fenced and gated access. There are two off street parking spots as well.
Guest cottage at rear - no access to the spa or potential pool
The asking price is just $399,000 or $222 per sq ft. CLICK HERE to checkout the Key West mls database and to view more listing photos. This is a good family neighborhood. I don't reckon that many second home buyers would consider this location, but maybe they should. The price is affordable and having the monthly income from the cottage would help offset taxes, insurance and a portion of the mortgage. It is worth contemplating.
If you would like to see 2518 Fogarty Avenue, please consider contacting me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.
