605 Free School Lane - Old Town - Key West

Just re-listed, but not by me, 605 Free School Lane in Old Town Key West. The asking price is $1,375,000. Read on, Dear Reader. This place makes money. This is how the listing Realtor describes this property:

"Just completed renovation from top to bottom: This beautiful transient licensed home situated at the end of a quiet dead end lane in the heart of the historic district is currently being used as a vacation rental. The spacious floor plan includes a main level bedroom and bath, large galley style kitchen and great room with French doors that open to a large covered porch. Upstairs are two enormous master suites with French doors to a partially canopied balcony overlooking the landscaped yard and pool. Features include high ceilings, wood and tile floors and heated pool. The property is being sold beautifully furnished."

The house has got a lot of really great things going for it. First, it is hidden away on a quiet little lane behind the Hotel Marquesa and next door to Nancy's Secret Garden. Those two neighbors mean that the property values will never go down because the adjacent owner will always maintain their property. Second, the house was built in 1984 and has recently been renovated. It is used a legal vacation rental and it has the requisite Transient Rental License. Third, the house is almost always rented. That means that it is almost always producing income to help pay ownership expenses when the property owner is not using the property. This is the exact proto-type of house most second home buyers envision when they think of buying a second home in Key West--a place with a pool and a good location.

When you enter the gate from Free School Lane you first see a lush yard with free form heated pool and then you see the beautiful 2 story home with an inviting large covered front porch. The first level features a great room, large galley style kitchen, bar area, full bath, bedroom and tile floors. There are French doors on either side of the great room that allows pool and tropical garden views. Upstairs are two enormous bedrooms with private baths, vaulted ceilings and wood floors. All rooms throughout the home have French doors opening to the outdoors. You won't believe the views from the second floor. They will make your friends green with envy.

The house is in the heart of Old Town, but it is located on a quiet lane. It produces income to defer the cost of ownership, and it is always rented. It really produces income. It is totally furnished, and it even has a list people with advance reservations waiting to spend their vacation in paradise in what could be your second home. Interested, then CLICK HERE to view more info and see interior and exterior photos of the property. Please call me, Gary Thomas, 305-766-2642, or contact me by e-mail at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. Since the house is always rented, advance notice is required on all showings.

1025 Thompson Lane - Old Town - Key West - Circa 1891

The first day I arrived in Key West some 25 years ago was amazed by all of the neat old houses in Old Town. I only ventured to Casa Marina for a party that first trip. And other than driving past New Town, I don't think I really ventured out there until a trip in 1987. New Town did not amaze me.

Back in 1984 many of the houses that look so damned wonderful today looked like a lot of the still "undone" or "non-restored" houses that still exist all over Old Town. There are not just as many of them today. And I have seen enough of the houses that were "renovated" or "remodeled" back in the 1970's and 1980's to safely say they may need a bit of updating now. I'm not calling for the introduction of granite or more stainless steel and certainly not calling for vessel sinks or other fads. Perhaps there were some things added over the years that might make a property look or even function better. Back in 1984 it was the simplicity of design and the sturdy construction that endeared me to the houses of Old Town. Nothing has changed.

The house at 1025 Thompson Lane is a good example of an old house built circa 1891 that has been updated over the years. You walk inside and you either love it or you don't. The rooms are colorful and cozy. I find the place absolutely charming. There is a fake fire in the livingroom that reminds you why you chose to move to Key West. The house is very livable. None of the rooms are really large, but they work. The upstairs is presently divided into a sitting room, a bedroom, and a bath.

There is presently a small second floor deck and spiral staircase (CLICK HERE) that are not historic to the house. I think it should be removed. That would allow the homeowner to utilize the ground area better. I think there is room for pool and still comply with the set back requirements. Any serious buyer will need to verify the ability to add a pool and should not relay what I say.

1025 Thompson Lane has 1341 sq ft of living area and sits on a 1600 sq ft lot. The house has two bedrooms, two baths, a lovely living room and an open kitchen. It is offered for sale at $525,000 or $391 per sq ft. CLICK HERE for more information and to view photos of the interior and exterior.

Thompson Lane is a lot like many of the other slow lanes in Key West: quiet. It runs one block long from Frances Street on the east to Grinnell Street on the west. Finnegan's Wake is located on Grinnell Street and just a few feet past the exit from Thompson Lane. The City of Key West parking structure is located across the street from Finnegan's Wake. And the Historic Key West Seaport is a minute walk further to the north. The house and its location are very quiet but the property is located within easy walking distance to so many things that make Old Town Key West so vibrant and fun.

1025 Thompson Lane is a listing of Preferred Properties Coastal Realty Inc. Please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com to set up a showing.

Pied-à-Terre Anyone? - Old Town - Key West

The listing Realtor describes the new offering at 800 Fleming Street #A-1 (The William Fleming House) this way:

"The perfect home for someone who wants carefree condominium living but desires the charm of a historic Old Town Key West home. The William Fleming House was constructed in the mid 1800's and is located in a premium location - the corner of William and Fleming Streets. Just completed renovation includes a new kitchen and two new baths. The kitchen includes granite and butcher block countertops, stainless steel appliances and new cabinetry. Baths are beautifully outfitted with polished chrome fixtures, tile shower enclosures and stone floors. There are only 9 units - each with assigned offstreet parking and a very large tropically landscaped common area with free form pool, sun deck and covered bar."

CLICK HERE to see the listing details and photos of the interior of this two story in town condominium located in the heart of Old Town Key West. This 1281 sq ft unit occupies two floors of the building and has views of the pool and gardens. The units in the building are constructed of Dade County Pine walls, floors and ceiling and have that "old Key West feel" that some many buyers want. The ceilings are very high and the doors and windows open to decks overlooking the pool below and the pristine homes on William Street. This unit is offered at $995,000 or $777 per sq ft. The condo is located on one of the best blocks in Old Town and is a convenient walk to everything. The property is 3 blocks to Duval Street and 3 blocks to the
Historic Key West Seaport.

If you are looking for a pied-à-terre or just a plain old condo, please contact me, Gary Thomas, 305-766-2642 or email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida.

1107 Olivia Street - Transient Licensed Home - Old Town

The "Seller" of 1107 Olivia Street just reduced the asking price from $1,250,000 to $1,150,000 for the thoroughly renovated house with a valuable Transient Rental License. The house has two bedroom, two baths, new everything, a pool, but no off-street parking. The furniture is not included at the asking price. The price per square foot for this 1125 square foot is $1,022 per sq ft. This property has been on the market since May 21st. CLICK HERE to see the mls listing info and photos.

The listing Realtor describes 1107 Olivia Street this way "Transient Licensed Charm in Old Town! Completely renovated from top to bottom. Excellent location! In Vacation Rental program so may be rented. Furniture negotiable. Owner is Lic. RE Broker." I went to the property management website to see what the house rental fee is and what kind of rental history it has. Many local property management companies have excellent websites that make looking at fees and history a breeze. The company that manages this property requires an email request. I declined.

I recently sold a two bedroom two bath unit with a beautiful pool, off-street parking, a transient license and a "great" rental history for $549,000 or for $515 per sq ft. There have been several other recent sales of single family houses in Old Town that have transient licenses that have sold at similar prices. On November 9th a Realtor friend listed a two bedroom two bath house with Transient License in a great Old Town location for $575,000. It went under contract on November 16th. That's a steal even at full price.

I think 1107 Olivia Street has really good street appeal and I like the neighborhood. The location requires a couple of minutes extra walking time to reach Duval or the Historic Seaport, but only a couple of minutes. The location is quiet and the neighboring houses and area is very nice.

You are probably scratching your head and asking why did Gary write about something that he thinks is over-priced. The answer dear Reader is that you never know how motivated a seller is to sell until he is presented an offer. The better the offer, the better the chance a deal can be reached. I don't know anything in particular about this property other than what I have written. But I have a feeling that a deal can be reach for a price grounded in reality. I think it is worth taking a look at this property even though the asking price is very high on a per square foot bases.

If you would like to see 1107 Olivia Street, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Let me help you find your place in Paradise.

512 Margaret Street - Old Town - Key West

Attention Bargain Hunters: Just Listed (but not by me) 512 Margaret Street priced at only $739,000 or $505 per sq ft. That's a lot of money, but this is a lot of house for the money. It was built in 1889 and has 1462 sq ft of living space. It sits on a tight lot (1560 sq ft or 24' X 65') on one of the better blocks in Old Town Key West. CLICK HERE to read the detailed info on this house and view photos of the interior and pool.

The absolutely beautiful house next door at 510 Margaret Street is listed for sale at $1,590,000 $815 per sq ft CLICK HERE to view. That house is bigger and has a separate guest cottage, but I offer it to support my statement about the location. And if you know the location you know that super chic Scheppens Lane is located at the rear of both houses. Another absolutely charming house I wrote about before that is located at 416 Margaret Street CLICK HERE recently increased had a price increase and it is now offered at $1,240,000.

This is how the listing Realtor describes 512 Margaret Street:

"Beautifully renovated and restored Historic Home in one of the most desirable Old Town Key West neighborhoods. Attention to detail and beauty are the hallmarks of this historic treasure. Dade County pine walls, gorgeous wood floors, large master bedroom with vaulted ceilings, en-suite bath and room for a king size bed. Two large bedrooms plus a bonus home office area, chef's kitchen, and elegant crown molding. Wonderful outdoor spaces including two covered porches plus a sexy open porch off the master suite for morning coffee or sunbathing. Heated pool with comfortable deck area. Walk to Key West Seaport, restaurants and nightlife. An Old Town Historic Treasure For The Most Discerning Buyer"

View Larger Map">GOOGLE MAPS a good aerial perspective of the area. Michael's Restaurant is up at the corner at Southard Street and Mangia Mangia is located across the street. Azur Restaurant is located one block away at the corner of Fleming Street and Grinnell. The Historic Key West Seaport is two blocks north of that and Duval Street is a five minute walk.

So many second home buyers want the same thing: two or three bedrooms, two baths, Dade County Pine, pool, the Key West Conch house or cottage "look", good location, and off street parking. This house has all except the off street parking. The house at 510 Margaret Street does not have off street parking either. But the one at 416 Margaret does. But 416 argaret costs $501,000 more. I created a list of other three bedroom two bath houses in Old Town that are priced at $739,000 or less. CLICK HERE to do your own price comparison. Or CLICK HERE to search the Key West MLS.

I think 512 Margaret Street may be a bargain for the right buyer. It is priced considerably below many similarly sized homes in the Old Town area. If you are looking for a home like 512 Margaret Street, please 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. We are an affiliate of Christie's Great Estates.

Price Reduction - 915 Angela Street - Old Town - Key West

One of my favorite Key West houses just got a lot more affordable. The asking price on 915 Angela Street is now $998,000 or $739 per sq ft. This house was originally listed for sale at $1,299,000. The price has been reduced a couple of times. But now the price is at a point where the market ought to react.

You will either love 915 Angela Street or you will hate it. Oh, you'll love the house. There's nothing not to like about the house. It's the neighbors.

This is how the listing Realtor describes 915 Angela Street:

"Pristine Old Town cottage with a little bit of everything including 3bd/2ba + delightful outdoor bath, 2 off street parking spaces, heated pool with waterfall & private spa. An outstanding use of space brings the outdoors in with the family room nestled between spacious covered decks & lush landscape. Enjoy the historical character with exposed Dade County pine walls and ceilings, renovated kitchen with new stainless appliances, remodeled baths, cathedral ceilings and lots of glass doors, windows and skylights. Beautifully styled and impeccably cared for both inside and out with optional designer furniture package negotiable for a truly turnkey Key West residence."

Let me tell you about the neighbors. The house next door to the west sits at the corner of Margaret and Angela Streets. CLICK HERE to view this incredible Key West property. The neighbors to the rear are a couple of very large homes accessed off Canfield Lane. The neighbor to the east is a nice house at the corner of William and Angela. Angela Street is a one way street that runs from Margaret eastward to White Street. It is just one lane wide. Across Angela Street is the Key West Cemetery. CLICK HERE to see the view from 915 Angela looking directly south. If you are concerned about flooding remember that the cemetery is near the highest point on the island. The big skies and bright sunshine from across the street will never be built upon nor will the neighbors to the west or east. What you see is what will be for eternity. Knowing the future in real estate is not necessarily a bad thing.

The cemetery bothers the hell out of a lot of potential buyers.Some people refuse to even look at houses anywhere near the cemetery. I guess I understand. But not really.

This is why I really like 915 Angela Street. First, the place is really nicely laid out for Key West second home living. It is large enough for a couple that has a small family or friends that may drop in for an occasional visit. There are three bedrooms and two baths. The living room opens on the east to a beautiful pool. The living room also opens to the left onto a secluded deck with a hot tub. The master bedroom and bath also open onto that same deck. There is an incredibly sexy outdoor shower tucked away to the side. A second bedroom is located at the right front of the the house. The kitchen and dining area complete the main floor. There is a decent sized third bedroom or office on the second floor. There is enough separation between the rooms to provide the kind of privacy you don't see in many Key West houses. There are two separate off street parking spaces each of which is bricked. The house is just as cute as it can be. This 1350 sq ft home is offered at $998,000. The view from the front porch or the master bedroom looking south across the cemetery changes with each passing cloud. The view is the exact opposite of what you would expect. CLICK HERE to see more detailed information on this listing and view lots of interior and exterior photos.

This house is an easy walk to Duval Street or the Historic Key West Seaport. Both are about 5 minutes away. There is no commercial activity anyplace within sight. The Conch Trains and Trolley Cars can't go down Angela Street because it is too narrow. What a rotten shame! Boo Hoo! Locals don't use it as thoroughfare because there are speed bumps. Tourists tend to walk fast or run because, well, it is the cemetery after all.

The view from the master bedroom is just beautiful. This place is super quiet. I can't think of anything a new owner would need to do. If you are looking for a quiet little place and don't mind the neighborhood, please contact me, Gary Thomas, 305-766-2642 or by e-mail me at kw1101v@aol.com.

Affordable* Key West Houses

*How would you like to buy a cigar makers cottage made of real Dade County Pine for $2000 or less? Well, you can. Sort of. Ronny Bailey is a fourth generation conch that spent 30 years of his life restoring many of the old houses in Key West. A couple of years ago he started fooling around with some Dade County Pine and created his first new old house replica. His wife came home and expressed in amazement "I didn't know you could do that!" Ronny replied "Neither did I." And so began his new career as artist-carpenter where he creates miniature near replicas of real houses in Key West using salvaged lumber. Ronny stresses that he only uses old salvaged wood to construct the houses. He doesn't paint the pieces. Instead he relies on the ravages of our sun and the weather to create the natural patina that make each piece look so genuine. Ronny's inner artist comes out when he adds a bit of whimsy such as a rooster to his work.

CLICK HERE to visit Ronny's website. Take a couple of minutes to go through the original miniature facades and the more affordable prints. Ronny does commissioned pieces as well.

The photos above are of a piece Ronny just completed. We think. He said he's not sure it's done yet. But pretty sure. I wish I were a better photographer so that you could see the detail in his work. The real building depicted in the art is located at the corner of Frances Street and Olivia. Checkout the little birds sitting on the neon sign above the front door or the cat laying on the second floor window ledge. The buildings Ronny creates are historically correct but the whimsy he adds is purely original. I'm no art critic but Ronny's work sure looks like it will become some very collectible folk art in the not too distant future.

Ronny Bailey will be exhibiting his works in Naples December 12 and 13 and at the Old Island Days Art Festival February 27 and 28. He invites interested buyers to view all of his pieces at any time. Go to his website to make contact.

If you are looking to purchase a slightly larger Key West house CLICK HERE to search the Key West Association of Realtors real mls database. If you see something that interests you, please contact me, Gary Thomas, 305-766-2642 or contact me be email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. We sell real houses in Paradise.

730 Southard Street - Old Town Landmark - Key West

I have written about the landmark home at 730 Southard Street on several occasions and I have actually received both phone calls and emails from potential buyers that were genuinely interested in the property. But none of the contacts has yet resulted into a written offer from my buyers. It is time for someone that has "that vision thing" (a catch phrase used by President George H.W. Bush when he responded to suggestions he refocus objectives away from short term campaign objectives to look to the longer term). My suggestions: bring vision and lots of money.

730 Southard Street is one of the iconic homes of Key West. It has been in the same family since the day it was built. The most recent resident passed away a couple of years ago. She lived in that house for nearly ninety years. Many of her possessions are still located in place throughout the house. The house almost shows like a museum of a life in another distant time. The outside of the house is looking ragged and forlorn. I met there with a noted local architect to size up the house for some buyers. Rather than say what he said I will give you my impression of what needs to be done.

The house has wonderful wraparound porches on the first and second floors and there are rear porches on both levels as well. Those porches provide potentially dramatic openings from the historic French doors that open onto the porches. That includes the rear second floor porch just off the master bedroom. The porches all need replaced. Some of the shutters need replaced.

Any renovation of the house would entail all new electric, plumbing, and air conditioning. The house is large and looks like it is actually three buildings brought together to make one large structure. The third floor attic is gigantic and would provide excellent space for location of HVAC.

The Attic
The existing bathrooms are very old and very dated. I think there is more than enough room for a creative architect to carve out some very useful bathrooms that meet our modern needs and still preserve the dignity the present structure.

The present kitchen is located just off the grand dining room. The dining room is likewise located next to the front parlor. The living room, on the other and, is a giant room located just to the west of the front door. That room has French doors that overlook the rear grounds. The dining room, parlor, and living room each have French doors that open onto the wraparound porches on front and the rear as well. The layout is a bit formal for today but the space is entirely useful. The kitchen is very large and needs yanked into the 21st Century. The kitchen even has a fireplace. Can you imagine what kind of a wonderful kitchen you could create.
The Parlor

The second floor has enough space for two great bedrooms and baths to compliment the huge master bedroom with en suite bath. The space for the master suite is just grand. That doesn't mean the space needs to be treated like something in a Trump hotel. Rather I envision very treating the very simple structure in an understated manner. The classic design elements are already there. It is just coming up with a good and useful design for today.

All of the interior has Dade County Pine walls, ceilings, and wood floors. The building to me seemed very structurally sound with the exception of some of the foundation which needs repair and all of the plumbing and electric which needs replaced. HVAC would be all new as it is non existent.

There is no pool. But there is room for a great pool and garden as well. The fence is dilapidated as is the widows walk on the top. But you should see the view from up there. You can see the Gulf of Mexico and all of the small homes for blocks and blocks. You could have a great sunrise view from the kitchen of dining room each morning. And in the evening you could sit on the upper front porch and watch the world walk by on the way to view the sunset at Mallory Square.


730 Southard Street is a big house with 2838 sq ft of space under roof. It sits on a 6853 sq ft lot (at the corner of William and Southard Streets) right in the smack dab middle of Old Town. CLICK HERE to read the listing Realtor's description of the property and to see some very good interior and exterior photos. This property is offered at $1,490,000 or $525 per sq ft. It's going to take probably a million to renovate the place. Maybe more and maybe a little less. But in the end someone is going to own one of the great beauties of Key West. Chances are pretty good that the house will be re-named for the new owner. The person with that vision thing.

If you would like to see 730 Southard Street please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Our office is the exclusive lower Florida Keys affiliate of Christie's Great Estates.

627 Caroline Street - Historic Seaport Area - Key West

Just listed (but not by me) 627 Caroline Street just one block from the Historic Key West Seaport.
View Larger Map shows you where it is located. Or CLICK HERE. I know you will recognize the house next door. Almost every traveler to Key West takes a picture of this house. CLICK HERE to see the same house next door (629 Caroline Street) as it looked around 1965 when it probably had its last paint job.

The listing Realtor describes the house this way:

"Historic Conch Classical Revival home ready for your special touches. Two story, 2300 sq. ft., 3 bedrooms, 2 bathrooms, 2 blocks from Duval Street and near the Historic Seaport and all attractions. Large yard with room for a pool."

The house sits on a fairly good sized lot - 4541 sq ft. You will note from the photos that there is brick paved off street parking. You will also note the "addition" or enclosure of the downstairs front porch. That would never be allowed today and it ought to go. This particular block of Caroline Street has some really beautiful old homes that have been meticulously restored. A couple of stragglers are left, like this house, but the block is one of the prettiest in Key West. The Monroe County Tax Appraiser says this house was built circa 1889. Put on your imagination glasses and compare the way 627 Caroline Street looks today CLICK HERE with a nearly identical house across the street that has been restored CLICK HERE, you will get a sense of what you could do with this classic Key West home.

The house is nearly original. A kitchen was added where the back porch was located. A bathroom was created on the second floor. And there is that front porch enclosure. But those additions are relatively new-say 50 years ago or older. The house has Dade County Pine walls, ceilings and floors, old windows and doors, old plumbing, old electric, and a year's worth of work and expense to restore this old house. The dining room has a bay window and the entire downstairs has quite a bit or interior light. The difference in buying a fixer like this versus buying a house that has already been restored that may cost more might elude some.


I warn buyers to expect time delays and unexpected costs in trying to do a renovation. I tell them that they need a good architect and a good contractor to get the job done right. I even tell them that they could probably buy a place that has been restored more cheaply than if they were to do a project themselves. But when a buyer does a project he or she or they get to recreate the house.

As nice as it is to have a garage I would probably eliminate the garage, ditch the addition on the front and add a white picket fence and electric gate at the driveway. I would doll up the facade with a fresh coat of paint and install new shutters where needed. By eliminating the porch addition and garage, I would add light to the downstairs. The living space would be reduced a bit, but the available space would be improved immensely.

627 Caroline Street is offered at $950,000 or $426 per sq ft. CLICK HERE to see more photos of the exterior of the property and view more details. Please call me, Gary Thomas, 305-766-2642 if you would like to see the inside. I a m a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida.

Single Family Home in Truman Annex under $949,000

So I spent Sunday afternoon on my computer looking for some potential deals among all of the short sales and very highly priced single family homes in Key West. I found 214 Fleming Street. The current mls listing does not have any description of the property or photos. So I had to do a little digging. And I think I may have found that deal I was looking for. Now if you are working with another Realtor, stay with him or her for everything else. But since I am telling you about this property, it is only fair that you call me if this house strikes your fancy.

214 Fleming Street is a 1312 sq ft two story two bedroom with two and one-half bath single family residence located in the exclusive Truman Annex. It also has a special Truman Annex Transient License. It is currently offered for sale at $949,000 or $723 per sq ft on a private 1739 sq ft lot. This is how the listing Realtor described the property in 2007 when it was then priced at $1,450,000: "This is a rare Truman Annex home with an elevator, hot tub, brick patio, outside shower, extensive wood trim details, vaulted ceilings, a complete hurricane shutter package, and close designated parking." But I found this description written by a previous Realtor that makes the place seem pretty special: "Located In The World Renowned Truman Annex In Down Town Town Key West Has Been Meticulously Upgraded. Crown Moldings, Superior Trim Work, Hand Made Built In Entertainment Center, Custom Wood Work!"

Truman Annex is located two blocks east of Duval Street on land that was previously a United States naval base. That property was annexed to the City of Key West about twenty years ago. Truman Annex was developed as master planned community of condominiums, town homes, and single family homes. The location provides immediate access to all that Old Town Key West has to offer. And the location is an easy five minute walk to Ft. Zachary Taylor Beach.

Ft. Zach is a really special place to Key Westers. There is a little You Tube video about the efforts of Key Westers to save the Australian Pines that are such a magical part of Ft. Zach. Take a few minutes and watch. It will give you a sense of how much we love our island home. (By the way, we won!)

If you want to purchase a single family home in Old Town with a Transient License, you may want to take a look at 214 Fleming Street. Please call me, Gary Thomas, 305-766-2642 or contact me at kw1101v@ao.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. I spent my Sunday afternoon looking for a deal just for you.