901 Thomas Street - Old Town - Key West

The slow summer sales season is upon us. Sellers are re-evaluating their pricing strategies and some are reacting by reducing the asking price of their properties. Such is the case for 901 Thomas Street in the Bahama Village area of Old Town Key West. It was originally listed on March 23 at the asking price of $524,900. The price was reduced on May 23 to $509,900. Yesterday the price was reduced to $499,000. I have shown this property a couple of times and I really like it.


The listing Realtor describes 901 Thomas Street this way:

"Immaculate renovated one level cottage in the heart of Old Town in a lushly landscaped compound of three single family homes. 3 bedrooms 1 1/2 baths, shared pool with waterfall, outdoor shower and off street parking make this tropical paradise the perfect setting for a second home getaway or investment."

The home is part of a three home compound created about a decade ago. CLICK HERE to see 306 Olivia Street and CLICK HERE to see 903 Thomas Street. Each of the houses and the ground underneath are owned in fee simple, just as most home owners own their homes up north. The three homes share a limited common area that includes a bricked courtyard, garden and pool. The "condo association" maintains the pool and courtyard, but otherwise the individual owners are responsible for the maintenance, insurance, and taxes for their respective properties.

The bar and grilling area are part of the limited common area

The 'third' bedroom is currently used as part of the living area

This 993 sq ft home is super clean and meticulously maintained. It is currently part of a monthly vacation rental program. The formal entry is at side near the front. The living area extends to the far rear where the third bedroom is currently used as part of the living area. There is a full bath adjacent to the left. There are two bedrooms at the front of the house that share a separate bath. The kitchen pictured immediately above is the heart of this lovely cottage home. Not visible is a rear door at the right rear that exits off to the pool. The exterior of this house is crisp and clean. It has a 'new' roof and gutters and the place looks like it has been freshly painted. 901 Thomas Street is now offered at $499,000. CLICK HERE to checkout the Key West mls database on this house and to listing photos of this property.

901 Thomas Street is located two blocks from Duval Street and just one block west of the Ernest Hemingway House at 901 Whitehead Street. If you watch JEOPARDY, you would that Hemingway and Key West are frequent clues. One block to the north you will find two competing eateries, Blue Heaven and La Creperie which is a new addition to the corner of Thomas and Petronia. La Creperie is so cute and the food is good. Santiago's Bodega is one block further west on Petronia. Ft. Zachary Taylor State Park and the coolest beach in Key West is a five minute bike ride.

If you would like to see this sweet little cottage please call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. 901 Thomas Street is a lot of house for the money. You owe it to yourself to take a look - with me!

719 Chapman Lane - Bank Owned - Key West

719 Chapman Lane - Key West - May 2011

The newly listed Bank Owned single family house at 719 Chapman Lane in the Bahama Village area of Old Town Key West was just listed for $499,100 or $237 per sq ft. The house has been bank owned since since September 30, 2010 but was just listed in the Key West mls on Friday.

The same house was listed for sale in the go-go years at $1,200,000 (2005) and later $1,099,000 in 2006. It did not sell. The house was built new (not renovated) in 1999. It has 2108 sq ft of living space on three floors. It sits on a 27' x 98' (2646 sq ft) lot. See the diagram and photo below that show the house layout and how it it looked in 2006.

2006

Above is a current listing photo of the same area

The Monroe County Property Appraiser took the above photo in 1965 but notes the house at 719 Chapman Lane was razed in 1967. Proof that the new house really is a new house.

For comparison purposes the house next door to the south (721 Chapman Lane) SOLD on March 29, 2011 for $370,000 or $195 per sq ft. (It sold 18 days after being listed at $425,000.) I wrote about that house when it was also a bank owned property. I even did a broker's price opinion on that property and pegged the probable sales price at $375,000. My estimate was pretty close. That house was livable but I felt it needed some work. It certainly needed cleaned and painted. It had a pool, but the front yard had a pretty white picket fence instead of parking.

Two years ago I wrote about the then short sale at 710 Chapman Lane. I loved that house. It was a renovated single family with 1200 sq ft of living space, a white picket fence, and room for a pool. It ended up selling for $385,000 or $321 per sq ft.

710 Chapman Lane is located across the street. It sold last year.

This Chapman Lane house did not sell and is not for sale.
It is just damned beautiful!

All three houses are located on Chapman Lane which is three blocks from Duval between Petronia Street to the south and Angela Street to the north. One block long and most of the houses have been renovated. If that block were located three blocks east of Duval, we would not be writing about any of these houses at selling or being offered for sale as such low prices.

The City of Key West is nearing final approval on the redevelopment of the Truman Annex marina and park. It is located just a couple of blocks further west of Chapman Lane. Angela Street is supposed to provide a walking lane type entrance into that area. When the redevelopment is completed, I believe that property values in the immediate area will increase dramatically.

Breakfast at La Creperie

Dinner in Heaven

Spend the day at Ft Zach

In the meantime if you owned the house at 719 Chapman Lane you could walk a little over one block to have breakfast at La Creperie or dinner at Blue Heaven or maybe do tapas at Santiago's La Bodega. You could ride your bike over to Ft Zach Taylor beach and work on that Key West tan. Or you could do any manner of things people in Key West do every day. This block is populated mostly by full time homeowners but there are a few second homes located here as well. After the Truman Annex is completed I expect there will be a shift between full time and second home ownership.

If you are looking for a newer home in Key West and want the convenience of being located near major Key West attractions but don't want to pay the high cost of ownership by being located on the supposed best street, you should really take a serious look at 719 Chapman Lane. Understand that a similar house on a more sought after block in Old Town will cost about $500,000 more. Please call me, Gary Thomas, 305-766-2642 to schedule your visit. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

901 Thomas Street - Old Town - Key West

If you are looking for a really cute Key West cottage with a pool and off street parking just a couple of blocks from Duval Street, the new listing at 901 Thomas Street may be the home of your dreams.

The listing Realtor describes 901 Thomas Street this way:

"Immaculate renovated one level cottage in the heart of Old Town in a lushly landscaped compound of three single family homes. 3 bedrooms 1 1/2 baths, shared pool with waterfall, outdoor shower and off street parking make this tropical paradise the perfect setting for a second home getaway or investment."

The home is part of a three home compound created about a decade ago. CLICK HERE to see 306 Olivia Street and CLICK HERE to see 903 Thomas Street. Each of the houses and the ground underneath are owned in fee simple, just as most home owners own their homes up north. The three homes share a limited common area that includes a bricked courtyard, garden and pool. The "condo association" maintains the pool and courtyard, but otherwise the individual owners are responsible for the maintenance, insurance, and taxes for their respective properties.

The bar and grilling area are part of the limited common area

The 'third' bedroom is currently used as part of the living area

This 993 sq ft home is super clean and meticulously maintained. It is currently part of a monthly vacation rental program. The formal entry is at side near the front. The living area extends to the far rear where the third bedroom is currently used as part of the living area. There is a full bath adjacent to the left. There are two bedrooms at the front of the house that share a separate bath. The kitchen pictured immediately above is the heart of this lovely cottage home. Not visible is a rear door at the right rear that exits off to the pool. The exterior of this house is crisp and clean. It has a 'new' roof and gutters and the place looks like it has been freshly painted. 901 Thomas Street is offered at $524,900. CLICK HERE to view the Key West mls database and to view more photos of this great Key West cottage.

901 Thomas Street is located two blocks from Duval Street and just one block west of the Ernest Hemingway House at 901 Whitehead Street. If you watch JEOPARDY, you would that Hemingway and Key West are frequent clues. One block to the north you will find two competing eateries, Blue Heaven and La Creperie which is a new addition to the corner of Thomas and Petronia. La Creperie is so cute and the food is good. Santiago's Bodega is one block further west on Petronia. Ft. Zachary Taylor State Park and the coolest beach in Key West is a five minute bike ride.

If you would like to see this sweet little cottage please call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. 901 Thomas Street is a lot of house for the money. You owe it to yourself to take a look - with me!

212 Angela Street - Old Town - Key West

212 Angela Street - Key West

Just listed, but not by me, 212 Angela Street in the Bahama Village area of Old Town, Key West. The listing Realtor sums up this semi-recently construced house this way:

"Location! Location! Location! Owner/Contractor built home on the corner of Angela St and Chapman Ln(across Truman Annex on Angela). You can't get more Old Town Key West than this location. Built in 1995 to Category 5 specs with PT lumber throughout except for finished floor. Bonus items include: interior doors (made out of Old Growth Cypress taken from the Ponce de Leon Hotel in St. Augustine FL that Flagler built), Mahogany & Cherry cabinets in dining and living rooms, whole house fan, and a R/O water system. Closet in LR was made with room for a Murphy bed. There is Off-Street parking and plenty of room for guest parking on Chapman Lane. Home is 1 block to Whitehead & 2 blocks from Duval St. X-No-Flood Zone."

Room for guest parking on Chapman Lane

Chapman Lane view

Bricked rear yard

212 Angela Street is offered at $450,000 or $317 per sq ft for this 1420 sq ft (calculated by appraiser) house that was built in 1995.

Blue Heaven is located one block east of 212 Angela St at Petronia & Thomas

You may be semi-familiar with this area of town if you have gone to Blue Heaven for breakfast or dinner. Chapman Lane is one block west of Blue Heaven. Angela Street is the proposed walking-only lane to the new Key West marina that is to be built at the Truman Annex (when the politicians and city folk stop bickering and start building). The photo just below shows the lane with the Shipyard Condos in Truman Annex across the street. Ft. Zachary Taylor State Park & Beach are nearby. And Duval Street is three blocks east where you can walk from the Gulf of Mexico to the Atlantic Ocean any day of the week.

Someday you may be able to walk to your boat at the new marina

You can definitely walk to Ft. Zach Beach

There are a lot of buyers looking for a place in Key West that is priced under $500,000. Some are willing to settle for less and may have to do some fix-up to get the house of their dreams. At some point the price of doing major fix-up has to impact one's budget and psyche.

If you would like to see 212 Angela Street (or any other house in Key West) please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

706 Chapman Lane - Key West

Just listed, but not by me, 706 Chapman Lane at the asking price of $491,000 or $673 per sq ft. Although this listing is "new" to the listing agent, this property has been on the market for some time. I have shown it on numerous occasions. The new agent describes the property this way:

"Ideal vacation or retirement home for the couple who lives for the simple pleasures of Key West! Enjoy your large fenced spacious deck with hot tub and plenty of room to entertain. This home features Off-Street Parking,central a/c, generator, shutters and Dade County Pine. Walk, bike or scooter to all of Old Town."

This place is so very private. The tall white picket fence, dense tropical foliage and trees prevent the casual passer-by from seeing how cute this little house is. The photos above show the street view and the adjacent off-street parking space. Once inside get ready for a big surprise. This place is captivating. The place evokes an old house done-up feeling. By that I mean the old place has been brought forward to today's expectations but not overly done. There are many whimsical features that immediately make you feel at ease.

There are two bedrooms on either side of the front entry. A center hallway takes you to the back one-half of the house. There is a drop down stairway at that point that provides access to a third loft-style bedroom on the second level. This would be a perfect place for little kids or guests that you don't want to stay too long. Kids don't mind neat spaces like that. Adults will get the clue that staying in a hotel may not be such a bad idea.

Second level loft bedroom

The living room and kitchen share the back half of the house. The ceiling is vaulted and the space seems quite large and ever so friendly. One really ingenious feature of the kitchen in the rear "window" which is actually one half of a French door laid on its side. That window swings up to provide a neat pass thru to guests sitting on the other side of the bar with a very nice and large deck. The outside area has a nice awning to provide protection from the sun. CLICK HERE to checkout the mls listing info.




The rear yard is quite large. There is an existing hot tub and I think there is adequate room for a decent size pool.

This property has been used as a vacation rental in the past. Duval Street is just two blocks to the east. Blue Heaven and La Creperie are only a block away. Ft.Zach beach is a few block walk or bike ride. One of these days the City of Key West will get the final plans for the Truman Annex redevelopment completed. That property is just a couple of blocks west of 706 Chapman Lane. I think the redevelopment will bring new life and add a lot of value to homes in this neighborhood.

If you are looking for a small place in Key West that is in move-in condition and don't want to spend more than $500,000, please call me and let's take a look at 706 Champan Lane. Call Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

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715 Emma Street - Old Town - Key West

Just listed, but not by me, 715 Emma Street #2, in the Bahama Village area of Old Town Key West. The listing Realtor describes this 1243 sq ft condominium this way:

"Beautiful recently built two story home located in a small community of four homes with a shared pool. This luxurious home has two bedrooms, two and one half baths plus a den and is finished beautifully - gourmet kitchen with Sub-Zero and Viking appliances, Brazilian Cherry hardwood floors, multiple balconies, walk-in-closets, GE Smart home wiring and off-street parking. Located adjacent to Truman Annex and near the proposed new waterfront park this gated compound is surrounded by lush tropical landscaping."

Despite what some readers may think, the number of really nice and affordable townhomes and condominiums is shrinking. This new listing may be one that a serious buyer might want to consider. Only four units were built in this uber-trendy development. The spaces were carefully crafted so that it did not have the cookie-cutter layout so common in most condos. This unit is offered at $599,000.

CLICK HERE to checkout the mls listing info on this property. And if you follow me on TWITTER you can see photos I took of the surrounding properties on this block. If and when the city fathers ever get the final plans approved and actually start construction of the proposed waterfront development a couple of blocks to the west, look for this property to become very much in demand as will be many of the surrounding homes. Until then be content with knowing you can walk around the corner and eat at such lovely places as Santiago's Bodega, Le Creperie, Blue Heaven, Better Than Sex, or any of the other fooderies nearby. The Green Parrot and lots of other watering holes are also nearby. Ft Zach Taylor is a couple of blocks and all of Old Town Key West is within easy walking or biking distance.

If 715 Emma Street looks like it might appeal to you and your budget, please contact me, Gary Thomas, 305-766-2642, to schedule a showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

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903 Thomas Street - Key West Charmer !

903 Thomas Street Key West - Classic Eyebrow House

The outdoor living area at 903 Thomas Street overlooks the cool pool !

This is what I refer to as the Cool Pool !

Vaulted ceiling in the bright and cheery kitchen that overlooks the cool pool as well

As soon as you cross the threshold and enter the Eyebrow house at 903 Thomas Street, you know you have walked into a home that was restored with love and attention to detail. This is no cookie cutter, could be located anywhere house. This is a true Key West classic. This is how the listing Realtor describes this home:

"PRICE REDUCED on this charming renovated cottage in the heart of Old Town. This 3 bedroom/2 bath plus den/office classic eyebrow home is in a compound with three single family homes lushly landscaped with an outdoor shower, shared pool with waterfall, off street parking, all new plumbing, electric, and HVAC. A tropical paradise not to be missed."

I had not been inside of this home for several years. I forgot how captivating this place is. The owner did the restoration himself several years ago. But the place looks as fresh today as it did then. The house is layed out like many Key West houses with the bedrooms at the front and the living area at the rear overlooking the pool and garden area.

Downstairs there are two bedrooms on either side in front. The bedroom on the left has an armoire built into the wall. What a beautiful piece of furniture and an equally novel way to use it. This was an OMG for me. The bedroom on the right is bright and cheery. The center hall leads back towards the kitchen with a vaulted ceiling. Unfortunately, the photo I took of the kitchen does not show the height or equally clever use of space. Rats!!! Just to the left is a separate office area (not a bedroom) and the downstairs bath. The dining area and living room wrap around the kitchen which is open to the living room. But the real kicker is the covered outdoor room that overlooks the cool pool with its adjacent bar and grill area to the north. There is a private garden and outdoor shower area on the right side of the house. Since this is an eyebrow house, there is a second floor where the owner located the master bedroom and bath. Everywhere you look, outside, inside, first floor, second floor or just the stairway, you can tell that his home was lovingly restored and made better than before.

This house is technically a condominium because the pool and some of the rear area are owned in common with the two other cottages that are adjacently located. But each of those houses have their own separate private spaces as well. Here each homeowner maintains his/her own residence as in "fee simple" ownership. The common areas (including pool and deck) are maintained the the association. There are many similar type of condominium, townhome, and compounds in the Old Town area of Key West. This just happens to be one very precious home that is oh so charming and that is now priced to sell. And 903 Thomas Street has its own private parking space. This home is offered at $599,000.

903 Thomas Street is located two blocks from Duval Street and just one block west of the Ernest Hemingway House at 901 Whitehead Street. If you watched Friday nights episode of JEOPARDY, you would have known that address. One block to the north you will find two competing eateries, Blue Heaven and La Creperie which is a new addition to the corner of Thomas and Petronia. I had bruch at La Creperie with friends last Sunday. So nice. Santiago's Bodega is one block further west on Petronia. Ft. Zachary Taylor State Park and the coolest beach in Key West is a five minute bike ride.

CLICK HERE to view the mls listing information and to view 15 photos of this home. Better yet, call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. 903 Thomas Street is a lot of house for the money. You owe it to yourself to take a look - with me!