921 Eaton Street - Old Town - Key West - Bank Owned Duplex

I can already hear the chorus beginning to chant "location, location, location" or something like that as a reason not to even consider this cute two story duplex that in a newly listed Bank Owned investment property. The property is located at 921 Eaton Street. Busy street during the daytime, for sure. Quiet at night, however. Asking price for this 1240 sq ft property near the corner of Eaton & Grinnell Streets is only $424,900 or $343 per sq ft. CLICK HERE to see the listing information provided in the mls. And CLICK HERE to see additional information that the previous Realtor provided and much better photos prior to bank ownership.

I took the photos above today. Look at the neighbors. The immediately next door to the west (CLICK HERE) at 917 Eaton is offered at $1,795,000.Not a typo! The yellow house next door to 921 Eaton is not listed for sale (CLICK HERE), and the income producer with 15 years income producing records located at 925 Eaton Street is listed by Preferred Properties at $450,000 (CLICK HERE) for info on that property. One of Key West's most beautiful and most photographed homes sits at the corner. CLICK HERE, CLICK HERE, and CLICK HERE to view. The Paradise Cafe is on the opposite corner at Grinnell. And one block north on Grinnell you will find Finnegan's Wake. And one block beyond that is the Historic Key West Seaport.

CLICK HERE to checkout the magnificent homes and mansions currently for sale. Maybe then you will appreciate the value of this simple little duplex in a very good location.


Randy, who used to cut my hair, lived at 921 Eaton Street for some time. He loved the house and the location. That doesn't mean you would. But the location doesn't mean that you would not. I can imagine a buyer could be someone who wants a nice clean place in a good location with some income to offset the cost of purchase. Rent the one bedroom and keep the two bedroom unit for yourself. The income will help pay part of your mortgage and keep a physical presence at the house. By the way, the property directly across the street, West Winds Guest House, was listed for sale this week at $6,440,000. And the Duplex across the street at 904 Eaton (CLICK HERE)was just listed for sale at $930,000. It has a pool and it is 700 sq. ft. larger. But it's on that same block! Across the street!

Some of the bank owned properties are selling quite quickly. Please contact me, Gary Thomas, 305.766.2642 or e-mail me at kw1101v@aol.com for more information. I'm not ready to say this is a bargain, but it looks pretty attractive at this time.

707 Washington -- Key West -- Short Sale

Just Listed: 707 Washington Street Key West, Florida. This great two home property is a legal duplex but it is actually two separate houses on the same lot and it is located on one of the best locations in the Casa Marina area.

This property was constructed in 2004. I live a couple of blocks away and I remember riding my bike past the property during the lengthy construction. I was excited to see the interiors once the houses were completed. Each property is distinct, but they share a common design theme. The rooms are large and the bedrooms on the second floor of each residence soar. This property would be great for a buyer with lots of friends or relatives that you really like. There is plenty of room for lots of people.

The property is just a stone's throw to Louie's Backyard and Dog Beach. The newly renovated Reach Resort is within walking distance. Duval Street is just a 5 minute walk. 707 Washington has 4 bedrooms, 5 baths, two kitchens, two living rooms, a big pool, and a great Casa Marina location. The house has 3257 sq ft of living space and sits on a 5300 sq ft lot. It is offered at the Short Sale price of $2,150,000 or $660 per sq ft.

CLICK HERE for more information on 707 Washington Street. Then please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com for more information.

1113 Watson Street Key West -- Legal Duplex

Just Listed: 1113 Watson Street, Old Town, Key West, Florida $705,000or $380 per sq ft. That is a real deal! This is a Legal Duplex that is offered at Appraised Value (3/18/08 by Bone Island Appraisal Company). "An appraiser's report is much more detailed [than a Realtor prepared Competitive Market Analysis]--and is the only valuation report a bank will consider when deciding whether or not to lend the money."

The report was made by an objective third party, someone who has no financial or other connection to any person involved in the transaction. I have often stated that properties in Key West are much different to other parts of the U.S. and for the most part, no two properties are alike. 1113 Watson is a prime example and that is why the owner followed my advice and had it appraised prior to offering it for sale.

This two story duplex was built in 1953 and was updated over the years. The exterior was recently painted. The upstairs unit has 2 bedrooms and one bath and window a/c units. It has a newer kitchen and is bright and airy. There is storage on ground level and washer & dryer.

The downstairs unit is very attractive and has a large living-dining area that opens onto a beautiful kitchen. The living area also opens onto an enclosed 380 sq.ft. rear screened porch. There are 3 bedrooms and two baths downstairs. The gated entry features bick pavers and is neatly landscaped for privacy. There is off street paved parking for up to 3 cars.

The upstairs unit is rented month to month at $1250 and has a 30 day kick-out. The downstairs is vacant so a new owner can have immediate access upon closing.

CLICK HERE to see more photos and additional info on this Legal Duplex.


This is my listing so please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com to schedule a showing.