The Bottom of the Barrel - Key West Real Estate

Bottom of the Barrel - Key West Real Estate

I think Key West real estate has hit the bottom of the barrel. CLICK HERE to see the remaining 17 single family homes priced at or below $500,000 and that are located in the Old Town, Meadows, and Casa Marina areas. The average house has 943 sq ft of living space and is priced at $477 per sq ft. I have written before that most of the buyers that call, email, or meet me say that they would prefer to purchase a house priced under $500,000. Kind of slim pickin's.

There are just 11 Active Short Sale single family homes that priced under $600,000. These houses average 1,331 sq ft and are offered at $339 per sq ft average. I feel confident that only the house at 826 Eaton Street would interest some potential second home buyers, and most potential buyers would probably would not consider even that house because of its location. There is nothing wrong with this house. But a lot of buyers will not consider Eaton Street, or White Street, or United Street, or South Street, or any street that looks upon the cemetery.

We must go outside of the Old Town are to find more houses under $500,000. There are 33 more houses CLICK HERE in the mid town and new town areas priced $500,000 or less. (One of those had extensive fire damage and is back on the market. No mention of the fire damage in the listing. I did not see any building permits either. I wonder how that happened.)

Currently, 57 single family homes in the Old Town, Meadows, and Casa Marina areas are shown in the mls database as being contingent or pending. Thirty-eight (or 66%) of those properties are shown as short sales. One short sale has been shown as contingent as far back as March 2009. Five of the 57 are priced over $1,000,000. The average house on the list has 1,490 sq ft of living space and is priced at $484 per sq ft.

There is an interesting conflict going on right now in the Old Town, Meadows, and Casa Marina areas of Key West. As you can see the lower priced homes market looks pretty bleak. There is scant inventory in the lower price range. The places that remain unsold may have locational issues or may need renovation. Renovation takes time and money so the cheaper prices will be off set by more spending later. I often drive potential buyers past most of the lower priced houses before I set up showings just because I know most people would not consider the location no matter how cheap the price.

There are 76 homes priced between $500,000 to $999,000 that are shown as Active (67) or Active Short Sale (9). The average house has 1509 sq ft of living space and is priced at $533 per sq ft. The total number of available single family homes (Active and Active Short Sale) is 217 with an average asking price of $666 per sq ft. The problem is most of these houses do not have active buyers-at the current asking prices. There are lots of buyers. The just are not shopping for houses in the mid-level price range. Everybody wants a "deal". So few sales are occurring in this price range.

The other day I wrote about 604 Elizabeth Street. The owner is a Realtor who had listed and showed the property himself for several months. The house had been priced too high for this market. The house is absolutely beautiful. It is located on a great Old Town block. The owner finally fired himself as listing agent and gave the listing to another agent. The asking price was lowered to a price point that made sense. Bingo! Contract!

Buyers remain focused on the low end of the market. And it looks to me like that market is all but gone. The mid-range market ( $500,000 to $1,000,000) has a good amount of available houses but that section of the market isn't really selling. The high end market isn't selling either. There are individual sales of high priced homes but not as many as one would expect-especially at this point in season. There are 140 single family homes in the Old Town, Meadows and Casa Marina areas priced at $1,00,000 or higher with the average home priced at 818 per sq ft. There are only 17 houses priced under $500,000 with the average house priced at $477 per sq ft. Something has to give.

CLICK HERE to conduct your own search of the Key West Association of Realtors mls database. If you see something you like, please contact me, Gary Thomas, 305.766.2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the exclusive Lower Florida Keys affiliate of Christie's Great Estates.

Key West - Bank Owned - Open House - Today

Open House - Sunday - 1:00 to 3:00 PM
1502 Petronia Street The Meadows Key West
Originally $1,795,000 Now $975,000

1502 Petronia Street Key West

1502 Petronia Street is priced at $975,000 or $568 per sq ft for this 1717 sq ft home. It is owned by a local bank in Key West. Come by and compare what you can get for your money. This property is one of eight completed in 2007. Four units are currently available. This unit 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. It is priced at $4,795,000. Nice neighborhood!

This stunning home is part of The Meadows condo association. Each home is owned in fee simple and sits on an individually owned lot. The association is exists to provide access to rear parking via gated driveway and storm water runoff. The homes were newly built in 2007 with top of the line materials and craftsmanship. This home features soaring 11' ceilings in the living area and kitchen. The kitchen is top of the line with stainless steel appliances, beautiful granite and solid wood cabinets. The kitchen area includes the lower portion of a two story turret. The turret portion of the kitchen is configured as an office or nook area of sorts. Lots of windows in the kitchen so your cooking will not be a chore but a dream. There is also a wet bar in the living room. The floors on the first floor are travertine marble. And the stairway and second bedroom floors are wood. The bedrooms have en-suite baths. The master bath is just incredible. I challenge you to find any more luxurious bath in Key West for less than $2 million. You won't find one.

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. 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. CLICK HERE to see more photos and listing information.

This home is located in the Meadows area of Key West. Bayview Park, complete with an old fashioned bandstand and public tennis courts, is two blocks to the south. The White Street arts district is a five minute walk. The Garrison Bight Marina is located one half block away. Duval Street and the Historic Seaport are each a five minute bike ride. The big (f0r Key West they are big) shopping centers are five minutes by car to the east. The Key West International Airport is five to seven minutes depending on traffic.

This home would be great as second home for someone who wants everything that is done just right and only requires room for an occasional visitor. The second bedroom is just beautiful and would work great for a family of three, but I think empty nesters or a gay couple would find this place just about perfect. Stop by today and check it out.

CLICK HERE to view a list of of town homes and condos with similar features that were built about the same time. Compare the prices (and size, amenities, and location) to see why I think this property is such a really good buy. Nothing constructed then is priced lower than these units.

626 Grinnell Street - Old Town - Key West

626 Grinnell Street Old Town Key West

Corner of Angela Street and Grinnell Street Key West

Just listed, but not by me, 626 Grinnell Street in Old Town Key West. This is one of those great eclectic and cheerful Key West houses that has so much too offer. This home has nearly 3000 sq ft of living space with a very friendly front porch for people watching, an old fashioned formal living room at the front of the house followed by a formal dining room at the rear. There is a newer kitchen with very tall wood cabinets and great natural light. There are high ceilings, crown molding, and lots of Victorian charm that you do not see in a lot of Key West "conch style" homes. Much of the original house has Dade County Pine. There is a huge second floor master suite with great outdoor views from rear porch. The master bath is very large and sunny. The house has three bedrooms in total. (The mater bed and bath area is a later addition and can be seen in the photo below.) The rear yard has a heated pool, mature trees, and privacy.

The second floor master bedroom and bath are new additions to 626 Grinnell Street

626 Grinnell Street is located one house in from the corner of Angela Street. (Angela is a one lane, one way street that runs from west to east on the north side of the Key West cemetery.) Conch Trains and Trolleys can't drive on either street so this is one of the quieter locations in Old Town. A small Key West Pocket Park (see photo) is located across the street. Five Brothers Coffee Shop is located at the end of the block on Southard Street. The Historic Seaport is three blocks further to the north and Duval Street is a five minute walk to the west. The White Street arts district is a five minute walk to the east and south.

Pocket Park located across from 626 Grinnell Street

This house shows very well. It does not have off street parking and that is a put off to a lot of potential buyers. But almost all of the houses in this block are single family residences, and there is not a lot of competition for on street parking. Remember the cemetery is only about 40 feet to the south so the area is very quiet at night and there are not a lot of cars at any time of the day.

CLICK HERE to read the mls listing info and to view some additional photos. Better yet, call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida where today it is 79 degrees at 2:15 PM. Thank God!

1445 South Roosevelt - Coconut Mallory Penthouse - Key West

Unit 201 is located top floor right with parking below. Only 2 units per floor.

I have written about this particular property twice before. I think this particular condominium has a lot to offer a potential second home buyer looking for a place that can be legally rented to help defray part of the cost of ownership.

This is how the listing broker describes Unit 201 at Coconut Mallory Resort and Marina, a condominium located on the eastern edge of Key West:

" Boat slip & transient license! Second floor unit boasting an open floor plan with water views. Elevator access from pool area to private wrap around balcony accessed from living area and bedrooms. Recently renovated kitchen and baths. Offered fully furnished ready to move in today or start earning rental income. Dock Fees associated with the boat slip are $1,140.00 paid one time annually. Condominium Fees paid monthly include all utilities, electric, water, sewer garbage & cable along with exterior insurance and building/common area maintenance.

This unit sits on the top floor and has water views of the Cow Key Channel that separates Key
West from its nearest neighbor, Stock Island. This channel provides instant deep water access to boaters and fishermen. There are only two units on the second floor and they each have large wraparound balconies on three sides. The views from this unit include the adults only pool to the north, the water to the east, and the timeshare units to the south. There is a second family pool and spa plus a really cute playground for the kids on the opposite side of the timeshare buildings. There are two units on the floor below and covered designated parking at ground level.
Coconut Mallory has 1126 square feet of newly remodeled interior space and wrap around covered lanais. The living room and both bedrooms have immediate access to the lanais and this makes the interior spaces seem even larger. The are no neighbors across the courtyard or next door to watch your every move. The only "neighbor" occupies the west one-half of the floor and that unit has no view. The neighbors to the south, east, and north are open skies, some palm trees, and the waterfront where the Coconut Mallory Marina is located CLICK HERE and CLICK HERE.

This unit has a real killer view of the adults only pool just to the north. (There is another pool that does permit children. That pool is secluded and surrounded by palm trees.)
Unit 201 has a large covered parking space with easy access to the enclosed stairway or elevator. That means you do not need to get beat up by the occasional rainstorm or blistering heat when you are bringing in the groceries. There are no bowling alley long hallways or tourists to dodge on scooters zooming around the parking lot. When you are home, you are home.

The interiors were very recently tastefully renovated to provide both utility and style. The space was designed for a lot of potential use but it looks great. I will be happy to send interested buyers more photos. Email me at kw1101v@aol.com.

Everything is new.CLICK HERE to read the details on Unit 201 and view more mls photos. The new owner can rent the unit or not as he or she decides. But on-site management is available. CLICK HERE to look at the snazzy property management website and take a look at the photos of the amenities offered. Then you will get an idea why I really like this property.

This unit was originally priced at $550,000 and it is now offered at $425,000 or $377 per sq ft. But keep in mind that the price includes a valuable TRANSIENT RENTAL LICENSE and a BOAT SLIP. I did a quick search of other two bedroom condos and townhomes priced at or under $425,000 to see what else is available for comparison sake. CLICK HERE to compare.

Please give me, Gary Thomas, 305-766-2642 a call to schedule a showing. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in beautiful Key West, Florida.

919 Southard Street Renovation Project - Key West

I wrote about 919-921 Southard Street a few months ago. It is still sitting there, unsold, on a great block in the middle of Old Town Key West awaiting someone with a creative eye and a big billfold to turn this property into something really special. The new asking price on this property is now $569,000 or $365 per sq ft.

The listing agent describes this property this way:

"Charming location and charming price on wonderful Southard Street. 3 legal units could easily be converted back to single family for the creation of a wonderful estate. In heart of Old Town and midst of multi-million dollar properties! House sits on one side of Double lot which provides room for expansion. In Bank Trust. Sold AS IS; Current incomes are month to month as follows: 1. 2/1 Rear down $1100 2. 1/1 down $900, 3. 1/1 up $850. Owner pays water sewer, and garbage."

I have shown this property a few times. It has been carved up and chopped up into small apartments. They work okay, but the location and size of the lot really ache for a new house to compliment the location. Cost of renovation is probably too expensive to make a remodel efficacious. The apartments would still be small and the rent one would get could not justify the effort or money.

But I think the location does justify spending money to demolish as much of the existing structure as HARC (Historic Architecture Review Commission) would allow. I'm thinking everything behind the facade should get demolished. The lot is very large (51' X 100' or 5075 sq ft). There is plenty of room for a large new single family home, pool, garden, and off street parking.

CLICK HERE to read the mls listing info and see more photos of 919 & 921 Southard Street.

If you are looking for an investment property or a renovation project, this is a place you might want to look at. Tenant occupied so advance notice is required. Please call me, Gary Thomas, 305-766-2642 to schedule an appointment. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

The House on the Hill - Old Town - Key West

604 Elizabeth Street sits atop Solares Hill in Old Town Key West

The Perfect Perch to People Watch

I guess I have written too often about the importance of location because so many potential buyers snub perfectly nice homes because sometimes they are located in sometimes challenging locations. The house at 604 Elizabeth Street which located near the tippy-top of Solares Hill (the highest point in Key West) could not have a better location. The house is located two blocks from Duval Street and just steps from Southard Street. So it's a quick walk to the shopping, restaurants, and nightlife but not near enough to hear it.

The neighboring houses CLICK HERE are a mix of super-expensive to moderate, but nothing cheap. The house directly behind 604 Elizabeth Street at 620 Southard Street CLICK HERE is on the market for a mere $12,800,000. Not a typo!

This is how the listing Realtor (who is also the owner) describes 604 Elizabeth Street:

"Now is an even BETTER time to buy what is perhaps the perfect house in the perfect location, the 600 block of Elizabeth Street, 3BR/2.5 BA, very near Solares Hill. Recent renovations with easy island living in mind, granite counter tops, stainless steel appliances, dense foliage,heart shaped cocktail pool for those romantic Key West evenings, off street parking, open living/dining area, and much, much more. Must be seen to be appreciated."

The Pool!

You enter the property through a white picket fence into a brick paved courtyard complete with a bubbling fountain and gated off street parking. There is a two story front porch that is perfect for people viewing and navel contemplation. (The yard isn't all that large so you will have time to contemplate something.)

When you open the front door your eyes immediately take you to the three sets of French doors that open onto the pool at the rear. The present owner replaced just about everything in this house which was originally constructed in 1997. (Not a typo.) All the materials are high-end and the quality of the materials and workmanship shows. Photos of the entry and rear follow.

The owner removed one interior wall at the top of the stairs to create an open office area (wall could be replaced to restore use as bedroom) with access to the second floor front porch. There are three or four transoms between the office area and the master bedroom at the rear that create a clever source of additional (but subdued) light in the master bedroom. The master bedroom has a little Romeo and Juliet balcony where you can peer down to the pool. The master bath and closet were totally revamped and the result is two great spaces that you normally do not see in Key West houses in Old Town. This house actually was designed to be lived in. There is a third bedroom also on the second floor and that has its own door onto the front porch.

CLICK HERE to see the mls listing page and to view more photos of 604 Elizabeth Street which is now offered at $1,095,000 or $698 per sq ft. The house has 1568 sq ft of real living space situated on a 2528 sq ft lot (79' x 32') in a great Old Town location. If you would like to see this really attractive home, please call me, Gary Thomas, 305-766-2642. I think you will be in for a very pleasant surprise. I can email you more photos if interested.

CLICK HERE to search the real Key West Association of Realtors mls database. No one (including me) will track your moves on the Internet or send you emails by using this official site. If you see something you like, please call me or send me an e-mail at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc, an affiliate of Christie's Great Estates.

No Regrets, please! Key West

When I am not busy showing property, I am sitting at my desk watching my emails and checking the mls as properties new properties get listed and existing properties go under contract or get sold. Some agents have a life and do other things, but I mostly sit at the computer and try to find properties for my buyers. Finding buying opportunities is getting harder and harder. The market of available properties in Key West priced under one million dollars is drying up.

Most of my buyers live elsewhere and are looking to purchase a second home in Key West. In the past year I had two potential buyers for whom price was no object. They wanted places with all the bells and whistles and the very best location. I showed both parties pretty much the same properties and neither bought. I coulda used the deal guys! But most of my buyers, even the wealthy ones, have been looking for value and have zeroed in on price.

Most of the prospective second home buyers have set a budget of $500,000 or less. There are 19 such properties available today. CLICK HERE to see what half a million bucks will get you in the Old Town and Casa Marina areas of Key West. Without going into specifics let me just say that I have shown many of these houses. Some are really cute and sweet and ready to move into. And a couple are just plain awful. (There are more houses available in the midtown and newtown areas, but most second home buyers won't consider those locations.)

There are 68 single family houses available in the Old Town and Casa Marina areas priced between $501,000 to $999,000. The list is too large to post but you can do your own search. Just CLICK HERE to set your price range and location to search the Key West mls database.

There are some very nice homes available in the above price range. But getting buyers to look there and seriously consider buying in the half million dollars and higher price range is a different matter. Almost every potential buyer has already done his or her homework and comes to Key West with expectations of what is available and what the property ought to sell for. Many come expecting to get a bargain deal on a bank foreclosure or buy a short sale for next to nothing. Life does not work like that. Here or anywhere else. Especially not here!

Nice listing photos and Google Maps can make some properties look more enticing than they actually are in real life. Once you get the chance to smell a place that reeks of cat urine you understand why it has been on the market for months on end.

Then there are properties that are locationally challenged. Just because a house is located on a busy street during the weekdays during the daytime does not mean it should not even be considered as a place to buy. Some potential buyers won't look at homes that are located within view of the Key West cemetery. That cemetery takes up a mighty big piece of Old Town and some buyers are really missing buying opportunities when they exclude homes based on nearness to the departed.

As the housing market for secondary homes priced below a million dollars continues to shrink, don't get squeezed out by being too tight or too demanding. I know it is easy for me to write that another $50,000 isn't a lot of money. It is if you don't have it. A $50,000 increase in purchase price might result in increasing a mortgage by $270 per month. But that extra $50,000 might result in your getting the place you have dreamed of owning in Key West versus getting something inferior or not getting anything at all.

Don't end up like the guy in the cartoon above and end up regretting that you failed to buy a house in Key West before the price of houses goes up. Please call me, Gary Thomas, 305-766-2642, to help you find that special place in Key West. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Affordable Key West "Getaway" Condo

804 South Street - Key West

Your view while doing the dishes! Sure beats looking at snow or trailers!

I found the just perfect spot for the buyer that wants an inexpensive but nice Key West "Getaway". It is located near Duval Street and the beaches. It has an incredibly beautiful pool and off street parking. It is in really nice condition, has a new kitchen, private washer and dryer, front porch to watch the cavalcade of Key West loonies and a private second floor balcony where you could dine or suntan al fresco.

The al fresco rear second floor deck. Total privacy.

This is how the listing Realtor describes 804 South Street Unit #3:

"Rare second floor unit at desirable Southpark Condominiums with hard wood floors and whole house audio system. 1BR/1BA with a large deck off the bedroom with a retractable awning. There's a new kitchen with dishwasher, stainless refrigerator, Bosch washer and dryer, and a travertine tile floor. Southpark offers a large heated pool, storage, laundry facilities and assigned off street parking."

CLICK HERE to read the listing info details and view more photos. This 640 sq ft one bedroom unit is offered at $325,000 or $508 per sq ft. I have shown this place a couple of times and I think it is a really attractive place in a very good location. The Casa Marina Resort and Higg's Beach are a three minute walk. Duval Street and South Beach are maybe a five minute walk at most. (This unit is NOT a short sale nor is it bank owned. The seller has purchased a larger property and wants to sell this unit.)

The pool area is share by three buildings that each have four units. All the units are the same except for being first or second story units. This unit is on the second floor. The rear gardens are just plain beautiful. The walkways lead to the inviting pool near the east end of the property. There is a great sunning area to boot. A cottage at the very far end has individual storage lockers for each unit as well.

This unit would make a great full time residence for a single person or couple. And because the price is so affordable, it would make a great getaway. If you are looking for a good deal on a small place in Key West, please call me, Gary Thomas, 305-766-2642 or contact me by email at kw1101v@aol.com. 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.

1320 Grinnell Street - Casa Marina Beauty

1320 Grinnell Street - Casa Marina Area - Key West

I frequently write about homes in the Casa Marina Area. I know the area well. That is where I live. I am always advocating that potential buyers look in this area because the area has so much to offer. Won't you be my neighbor?

Just listed, but not by me, 1320 Grinnell Street which is offered at $2,850,000 or $1,001 per sq ft. This is how the listing Realtor describes this home:

"Modern tropical designer home with natural stone, bamboo, and hardwoods. Walls of glass doors open for breathtaking views from every angle of the living and dining area. Top-flight kitchen designed for entertaining and a DCS outdoor kitchen just a step away. First floor master suite with den and double bath opens to private deck with hot tub. Upstairs guest bedroom suite with relaxing area overlooking the pool. Outdoor living room under the lanai has a gas fire pit in the waterfall and sweeping views across the pool to the main home. Separate guest home with loft. Two parking areas for multiple vehicles. Day or night, this home is magical in every detail.

The property was totally renovated and expanded in 2006. Today the property has 2848 sq ft of living space that sits on a large 5992 sq ft lot (74' X 80'). I live nearby, and I watched the construction as it went on for months and months. The Casa Marina area is known not only for its dissimilarity to Old Town but also for its proximity to Old Town and other important Key West destinations. Here the lots are large and the houses are separated by large spaces. While there are a few great Conch houses in the area, most of the homes were built or renovated after the 1950s. . There is nothing "cookie cutter" about Casa Marina area architecture or the neighborhood. CLICK HERE to view some fabulous photos of this special property.

This house is located at the corner of Seminary and Grinnell Streets. Most of the streets in the area do not have curbs and gutters so the area has retained it's country feel somewhat. Perhaps as many as 50% of the homes in this area sit behind large six foot privacy fences with tricked-out entry gates and ornamental shrubs that make each property unique. 1320 Grinnell Street is open to the street with only the space between the main house and the guest cottage fenced from view. I guess one could say that it has "No curb appeal" and get away with that being a genuine compliment.

1320 Grinnell Street is a two minute bike ride south to Higgs Beach, the Casa Marina Resort, and Louie's Backyard. The Island Gym is a two minute bike ride to the east where you can get fit and trim. Faustos Grocery is located nearby on White Street as are a bunch of neighborhood coffee shops, restaurants, and the Dairy Queen. I can usually drive to the airport in about seven minutes from my house. Old Town is a quick bike ride and maybe a 10-15 minute walk depending on where you want to go.

If you are looking to purchase a very sophisticated home in Key West and are not stuck on having to own a "conch house", please call me, Gary Thomas, 305.766.2642, to arrange a showing of 1320 Grinnell Street. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. I live in the Casa Marina area and I love it. Won't you be my neighbor?

811 Carey Lane - Old Town - Key West Cottage

811 Carey Lane

From 811 Carey Lane (left) looking east toward Margaret Street

The asking price on 811 Carey Lane just got better: reduced to $649,000 or $605 per sq ft. This is how the listing Realtor describes this charmer that is located on one of the best little slow lanes of Key West:

"Located in an area of million dollar properties, this charming home has an exceptional location on one of Key West's most desirable lanes. You'll find peaceful tranquility and the Key West ambiance you're looking for in this home. Open living and renovated kitchen, dining room, good storage, outdoor shower, covered porch for lounging and lovely gardens complete with inground hot tub. House opens beautifully to the well-kept gardens and outdoor areas. Excellent condition with 4 ductless air units. Fall in love with this fun and artistic quintessial Key West cottage."

The cottage is almost 1100 square feet and has two bedrooms, two bathrooms, a new kitchen, and it just oozes charm. The ceiling in the main living area is vaulted with exposed wood shingles (covered by metal on the exterior). The ceiling is really dramatic. The living, dining and kitchen area are just captivating. Although this cottage has two bedrooms, neither bedroom is really large. There are two bathrooms plus the essential outdoor shower. The existing outdoor covered porch is so inviting and relaxing. There is room for a good sized pool. The rear of this property abuts Carsten Lane. So all one need do is take down the fence, bring in a backhoe, dig out the dirt, install a new pool for about $25,000, and put the fence back up.

Carey Lane is a one block lane that runs perpendicular between Margaret Street and William Street and just south of Southard Street. It is within walking distance of everything Old Town has to offer, yet you almost need a map to find it. The five homes on Carsten Lane abut Carey Lane to the rear. Each of the houses on Carey Lane and Carsten Lane run through to the other side. Some front on Carsten Lane and the rest have that super valuable Carey Lane address.
Here are some photos of neighboring cottages.

810 Carey Lane (pictured above) is opposite of 811 Carey Lane

811 Carey Lane is at far end of the lane on the right

Neighboring cottage on Carsten Lane

811 Carey Lane is one of my favorite little houses in Key West. It is very simple. It does not need any fixing.It has room for a pool, but a pool is not necessary to everyone. CLICK HERE to view the mls listing info sheet and to view more photos of the cottage.

811 Carey Lane has a great location. Conch trains and trolley cars will never bother the owner. Tourists on motor scooters and bikes probably won't even know it exists. Life goes on in these special little island oases within the island that is Key West.

Yet the property is only a two minute walk to the corner of Margaret and Southard Streets. Five minutes more and you are on Duval or at the Historic Key West Seaport. So close and yet so far away. If you are looking for a place in Paradise, please consider working with me, Gary Thomas. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.