I
have written about the lovely old home at 912 Truman Avenue a couple of
times, and I have had the privilege of showing the house several times
over the past few months. As we approach Christmas Day which is now
only a week away, I want bargain buyers to give this really big, really
nice old Key West home serious consideration. I don't often talk about
price per sq ft (partially because some houses are pretty pricey on a
per sq ft basis and also because our housing supply is so diverse price
comparisons are difficult). But I am going to make an exception here
and appeal to the inner Scrooge in some readers.
912 Truman Avenue is offered at just
$795,000 or
$227 per sq ft.
912 Truman Avenue is a large house,
3494 sq ft
divided between the main floor which has a formal entry, living room
and adjoining parlor (with door to the pool), formal (regal) dining
room, and old fashioned kitchen with modern and updated charm. The
second floor features master bedroom with a very large en-suite bath,
two large bedrooms and a full bath. The third floor is a quite large
space with large gables on four sides which allow good daytime light and
a large bathroom. Outside this home has a white picket fence, front
yard with dramatic palms that shield the home from the street, large
side yard on the east where the adjoining parking space is located, and
the pool in the rear which has a water wall and fountain.
If you are thinking of buying a Key West home which you could rent as a
vacation rental,
you really ought to consider this property and compare it to other
properties that are currently available at much higher prices. Look
first at the photos below and then really think about how attractive
this property would be to a prospective renter.
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Artist's depiction of 912 Truman Avenue
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When you step inside 912 Truman Avenue its like stepping back
into
another era. This home retains the functionality and character of the
original home but it has been updated with central air, updated
bathrooms, and modern kitchen. The old style rooms remain in tact with
all of their flaws, charm
and character.
When you enter the front entry you see the ancient staircase and central hallway that divides
the house in two. On the right side you will find the living room and parlor on the
right side. The dining room and kitchen are on the left side. A small bath and servants' stairway are located at the rear.
As
you view the photos below imagine how different the spaces might look
if you furnished the rooms with your vision of how this old house should
look. And also consider how you might paint or otherwise improve on
the existing room paint schemes. New owners often do some inexpensive
improvements the dramatically enhance the charm of even the best of
homes.
Front door with living room located on the right
The dining room is located to the left. Note the crown molding and high baseboards.
The beautiful staircase leads to the bedrooms on the second and third floors.
The
living room (above) is divided into two sections. Note the rich Dade
County Pine walls, the equally rich and very real wood floors, and the old school wood ceilings. Note as well the ancient
windows with glass that ripples.
The
dining room obviously hearkens back to another era. Imagine vacation
renters gathering here to enjoy morning breakfasts as they make plans on
how they will spend their days in Paradise.
My
dear old grandmother had the same octagonal tile in her bathroom. I
love the look and feel of this place. It evokes a feeling continuity
over generations of people that lived here. The house has the
necessities, but it is not consumed by modernity. It retained its soul.
The
master bedroom and bath occupy the west side of the second floor. Two
more bedrooms plus a shared bath are on the east side. The master bath
is huge.
The
two second floor bedrooms are shown above. One is now used as a sitting
room. Note the old newspapers glued to the ceiling. The papers were
originally used as insulation and where retained when the home was
renovated.
A door in the hallway opens to the second floor front balcony that spans the breadth of the home.
The master
bedroom is located to the right and it's bath is located to the right
rear. The second bath is located at the far rear and it is used by the
occupants in either of the bedrooms on the left. Note the servants' staircase at
the rear. It goes goes down to the area just off the kitchen. The main
staircase provides access from the main floor (at front). And the
staircase rising on the left leads to the third floor bed and bath.
The third floor space is actually quite large. Unfortunately I took
lousy pics. I think this space would work great as a kids' retreat away
from grown-ups on the second floor. There is plenty of room for a couple
of sets of bunk beds or trundle beds plus room for games or
distractions.
912 Truman Avenue is part of a land based condo. The house was extensively renovated in 2002 at which time the adjacent
garage was also renovated and expanded. The grounds to the rear had new
houses built upon them. To comply with City of Key West building code,
the properties were classified as condominiums. There are limited common
areas for ingress and egress to the new houses. Otherwise, the
quarterly condominium fee is just $150.
CLICK HERE to view the Key West Association of Realtors mls datasheet on this property.
If I have intrigued enough with my write-up consider this:
806
Truman Avenue sold in February 2012 for $1,600,000. Now it had three
transient rental licenses which allowed weekly rentals as opposed to
vacation (monthly) rentals. It was smaller in size but equally rich in
amenities. It shared the same basic street location.
Now, please
CLICK HERE to checkout the
Key West mls
and see what houses you can find on Old Town priced anywhere near this
and then decide for yourself how much money you could make renting this
house on a monthly basis as a vacation rental as compared to equally
priced houses.
Consider this as well: vacation renters are here for a few weeks.
They want a nice, clean place to stay with great amenities and a
location that allows them to do things tourists do. They aren't buying
the place to live in forever. They are renting it because it offers them
space, charm, a pool, and easy access to all that is fun.
If you would like to see 912 Truman Avenue or any other property in Key West, please call me,
Gary Thomas,
305-766-2642 or send me an email at
kw1101v@aol.com.
I am a buyers agent and a full time Realtor at Preferred Properties Key
West. If you buy this great old house you could have a wondeful place
to spend your Christmas next year.
