1320 Olivia Street, Key West - A New "Old" House

As a rule newly built houses in most parts of the United States pretty much go un-noticed but here in Key West new houses are the exception rather than the rule. 1320 Olivia Street is one of those exceptions - it is a two story 1242 sq ft home with two bedrooms, two and one-half baths, first and second floor porches that look out to the a little one-way street that traverses the quiet area of Key West known as The Meadows Area.

The great room plus the half-bath occupy the first floor of the house. The large open living spaces have a cozy feel given by the wood siding and ceilings that give this space a cozy-comfy feeling. The kitchen has an open and spacious feel. Notice the under cabinet placement of washer and dryer. There's a back door to the outside rear area. No room for a pool in this tiny backyard, however.

There are two good sized bedrooms on the second floor. Both have en-suite baths and closets. I mention closets because a lot of older homes in Old Town do not have closets. Both rooms have vaulted ceilings and paladin doors that open out to the second floor front porch. While the bedrooms are not large, they aren't small either. The ceiling height and access to the front porch really give these rooms a big house feel that you don't get to experience in most homes at this price point. CLICK HERE to view more photos I took.

CLICK HERE to view the Key West mls datasheet on 1320 Olivia Street in Key West. Then please call me, Gary Thomas, 305-766-2642 to schedule a private showing of this newly built house offered at $699,500.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your home in Paradise.

1305 Petronia Street, Key West, Florida - The Meadows

The listing Realtor got it right when he said 1305 Petronia Street was "Lovingly restored with every attention to luxurious detail".  When you see a house as pretty as this you may not have an appreciation of all the time, work, and money that went into the creation of a such a beautiful home. I hope today's blog will help you appreciate this wonderful home a bit more.

Like other Realtors I drive up and down the streets of Key West on an almost daily basis showing properties to prospective buyers. Sometimes when I see something out the ordinary, I'll stop my car to take a photo so that I can go back later  to compare what was to what became.  I took such a photo around 2010 after work had commenced on this Petronia Street home.  I could see that the original cottage was being substantially enlarged by a one and one-half story addition at the rear. I dug into the old shoebox and found some photos to show the progression on this property.

1305 Petronia St - 1965

The listing Realtor describes the finished property as an:

"Architectural Meadows masterpiece. Impeccably renovated 3 bedroom home in the highly sought-after Meadows neighborhood. Lovingly restored with every attention to luxurious detail: vaulted ceilings, Brazilian hardwood floors, large living room and spacious downstairs master suite. Modern kitchen with granite countertops and high-end stainless steel appliances, including a built in espresso maker and wine bar. Two guest bedrooms, full bathroom, and home-office space upstairs. Fully-fenced backyard with beautiful hardwood deck,lush tropical landscaping and off-street parking. An idyllic Meadows treasure with beautiful natural light throughout the home."

I searched the Historic Sanborn Fire Maps and found 1305 Petronia Street first appearing in the 1912 addition. That tells us the house existed as of that date, but it does not mean the house was not built earlier.  Earlier additions of the Sanborn maps totally omitted this area altogether.  I found the 1920 aerial photo below to which I added street names that show White Street, Eaton Street, Palm Avenue, and Eisenhower Driver [which was then called North Beach Blvd.]. I identified 1305 Petronia Street by address and an downward arrow.   The large triangle shaped area is the old Army base and parade ground.  

Now that we have our history lesson completed, let's move on to the good stuff.  1305 Petronia Street is an old house made all new.  The original front cottage is totally redone.  I read the building records which show the house was moved just a bit which means all new piers were added. I already mentioned the addition to the rear. The addition features Hardiboard siding. The house has all new water, sewer,electric and other mechanical systems. There are new impact windows throughout the house except the front windows.  There's a new roof. So even though this house looks old, it's new for all other purposes.

The original cottage with historic sawtooth addition is now the main living area. The combined living, dining, and kitchen are simply beautiful.  Everything works! The look is clean and elegant.

CLICK HERE to view all photos that I took of this house.

The master bedrooms with en-suite bath are big, spacious, and aesthetically pleasing. Part of the reason you want a place in Key West is to enjoy the scenery as well as the climate. Here the bedroom has dual French doors and windows that allow garden views to bring the outside inside.  The master bath has a large shower, tub, and double vanities. The laundry is tucked away in a closet in the bathroom as well.

There are two good sized bedrooms on the second floor.  The vaulted ceilings add dimension and drama to what might otherwise be hum-drum spaces in another house. Look at the sharp angle of the bath closet door which follows through in the shower dormer. This is good stuff.  The two bedrooms share a bath that would rival one you see in a Ritz Carlton hotel.  The owner has cleverly created a nifty office space at the top of the stairs.

The back garden includes has an Epay deck. (The bird on the palm frond was real. He was singing his little heart out!) The side yard has brick pavers which extend past the gated fence and become the off street parking space.  A side door just on the other side of the fence enters the house at the stairwell to the second floor. The main floor powder room is located opposite the stairway.

1305 Petronia Street is offered for sale at $1,200,000.  CLICK HERE to view the Key West mls data sheet.  Please call me, Gary Thomas, 305-766-2642 to schedule a showing of this really pretty home. I am a buyers agent and a full time Realtor at Preferred Properties Key West.  Let me help you find your place in Paradise.

1501 Olivia Street - The Meadows Area - Key West

Just listed, but not by me, 1501 Olivia Street in Key West. The listing Realtor describes the home like this:

"The Meadows Corner Lot Historic Beauty. Distinctive Historic Residence At The Quiet Intersection Of Olivia And Pearl Streets. Wrap-around Front Porch With Gingerbread Architecture. Off-street Parking. Nearly 2000 Living Sqft On 4800 Sqft Corner Lot. Opportunities For Updating, Great Bones. Wood Floors. Heart Shaped Pool And New Landscaping Provide A Very Private Setting. Historic In Every Way."

The Monroe County Property Appraiser says this house was built circa 1906. It has an understated beauty that transcends the decades. I found the photo below taken in 1965.

1501 Olivia Street as it appeared in 1965

Same house but a different view in 2006

Same location in 2007

And the way it appears in 2011

The four bedroom two bath house has 1948 square feet of living space on two floors plus that incredible 443 sq ft wrap-around porch. The lot is relatively large for the Old Town area (64' x 75' or 4790 sq ft). That may not seem large compared to lot sizes up north, but it is larger than normal in the Old Town area. The current owner bought this house in 2007 and added a pool and air conditioning plus upgraded electric and plumbing. The asking price is just $700,000 (or $359 per sq ft). That, dear readers, is a lot of house for the money.

This home is owned by the same owner that has the adorable cottage I wrote about last week that I affectionately called The Love Shack. That place is just too cute for words. It's small and would make a great guest cottage for the main house. (Methinks that is why it was purchased at the same time by the current owner.) Both properties are offered for less than the original purchase price. There is no mortgage so this is not a forced sale.

If you are looking a for a big house or a little house or both, please contact me, Gary Thomas, 305-766-2642 to arrange a showing of either house. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Open House - Sunday - Key West - 1502 Petronia Street

If you love the look of the old houses of Key West but you want all the bells and whistles of the 21st Century luxury home, drop by the Open House I am hosting on Sunday, December 26th from 12:00 to 3:00 at 1502 Petronia Street in The Meadows of Key West.

This home is the only two bedroom unit available, and it is a doozy! This home is located on the corner and it has a lot of privacy and great view from the second floor front porch where you can sit and watch the incredible Key West sunsets every night. Only One house sits across the street. That house takes up the entire block. See MAP below.



The house above isn't old at all. It was built brand new in 2007, and it has never been lived in. It is one of three properties that are owned by a local bank that are listed by Preferred Properties. All three properties are offered for sale at just $825,000. The other two homes are three bedrooms and they are located on Pine Street.

The home at 1502 Petronia Street has a luxurious feel you won't find in other homes in this price range. There is a reason for that. This place was meant to sell just under $2 million. The market has changed since the construction began on this home. But all of the amenities and features have not. Included in this home expect to find travertine marble floors on the main level and real hardwood floors on the second floor. Other features include custom kitchen with top of the line stainless steel appliances and custom cabinetry; beautiful crowned moldings and high baseboards; 11 foot ceilings in the living area and soaring ceiling in the master suite with turret and the most beautiful bathroom in Key West; private pool & spa, and carport. CLICK HERE to checkout the mls datasheet and to view more photos.

Please take 15 minutes out of your day and drop by to take a look at what you could be your dream home in Paradise. You will be pleasantly surprised at how much you can get for your money in today's Key West real estate market.

1505 Pine Street - Bank Owned - Key West - Do the Math

Do the Math

The local bank that owns the three remaining homes for sale at The Meadows just dropped the asking price. Two of the Bank Owned homes are three bedroom models and those are the properties I want to discuss with you today. I think they are a real deal and you may feel the same after you do the math.

1505 Pine Street is a 3 bedroom 3 1/2 bath home that was built in 2008. The bank foreclosed on the entire development (except the model which was financed by another lender). The units have not been lived in. This three bedroom unit is a two story 1629 sq ft home that sits on a 2503 sq ft lot. It is now priced at $825,000 or $506 per sq ft. The listing Realtor describes this home like this:

"...Built with quality materials and craftsmanship, this home offers everything one expects in a luxury residence. The first level features marble floors, soaring 11' ceilings, a wall of glass doors leading to the private pool and spa. A gourmet kitchen provides solid wood cabinets, high-end stainless steel appliances, luxurious granite countertops & lots of storage space. The living room features a wet bar and is great for entertaining. The bedrooms are en suite and feature high ceilings & sumptuous baths plus a second floor laundry. A private carport has an entry through a gated drive. Lush landscaping provides a tropical backdrop for this spectacular home."

If you have walked inside as many Key West houses as I have you would be impressed by the quality of the materials used and craftsmanship that went into the design and construction of this home. Light fixtures, fans, toilets, kitchen cabinets, etcetera all have functions but life teaches us that some things are made to last and some things are made cheap. Sometimes cheap lasts a long time. Usually not. These homes were designed and built to sell in the $1,700,000 and higher price range. The developer built quality and long term value. The developer obviously missed the market: these homes came onto market after the decline had begun and failed to price the homes into the market quickly enough. But the developer did succeed in building quality homes.

Architectural details including crown molding, high ceilings, porches and solid wood doors. The wood doors on the first and second floor front are massive and of the highest quality. The 8' sliding doors that separate the living area from the pool are hurricane impact resistant to 155 mph that open wide to let the outside become part of the inside. The exterior features Hardiboard siding which is pest resistant and easy to maintain. The roof is a tradition Key West metal. While the home looks old on the outside, it is built to the highest building standards in the State of Florida. This means long term costs of maintenance and insurance should be lower than a similarly sized stick built older home in Old Town. A private, gated drive leads to the carport and a separate entry to the private pool and spa area. Each home is completely fenced and beautifully landscaped.



One of the biggest challenges to selling these homes is the fact that they are not "old". Buyers in the sub million dollar price range seem to prefer the original Key West homes with the Dade County Pine walls and profess a willingness to buy a fixer at a better price than to pay for a house that has had all the flaws of age fixed. Some will be willing to accept a home without a pool or parking or both if they can get a good deal. Yes, folks will settle for less to save money. I get it. I accept it. If a buyer wants old, buying new that looks old is not an option. Saving a few thousand dollars now (especially at today's historic cheap interest rates)

Here is the math quiz: 1505 Pine Street is offered at $825,000 or $506 per sq ft. CLICK HERE to review the mls listing info sheet on this property. I did a search of other 3 bedroom homes in the Old Town area (I even added a bank owned property on Atlantic Drive) priced at or under $825,000. CLICK HERE to see the mls datasheets on each comparison property. I have written about some of these homes previously. I have shown them. I know what they feature and what "issues" they may have. The average asking price on the comparison homes is $774,555 and the average price per sq ft is $396. It looks to me like the price difference is about $50,000 or so. The question is which is the better value. You do the math.

If you are looking for a quality Key West home priced below a million dollars, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Let's go house hunting. Let's look at some of the homes shown above and do your own comparison shopping. Let's compare age, features, amenities, presence or absence of pool, parking and landscaping, quality of construction, location, and cost of insurance. I'm not saying that 1505 Pine Street is the best deal. But I do think it is a very good property that ought to be given very serious consideration. Do the math. You may agree.