571 8th Street

Key Colony Beach, FL 33051

$2,349,000
Price
5
Beds
4
Baths
2,218 Sq. Ft.
$1,059 / Sq. Ft.
2,218
Sq. Ft.
$1,059
per Sq. Ft.

Description

Check out the updated photos! The current DOM is reflective of pre-remodeling days. This 7 night weekly rental is an investors dream with rental projections at 70% of $184,800 and/or 60% at $158,400. This full duplex has been completely renovated with brand new kitchens, appliances, bathrooms, flooring and impact windows and sliders. The exterior of this 8,250 sq ft property will really shine, featuring a 75 ft concrete seawall with steel bumpers, 5k davits and a fish cleaning station. For easy canal...Check out the updated photos! The current DOM is reflective of pre-remodeling days. This 7 night weekly rental is an investors dream with rental projections at 70% of $184,800 and/or 60% at $158,400. This full duplex has been completely renovated with brand new kitchens, appliances, bathrooms, flooring and impact windows and sliders. The exterior of this 8,250 sq ft property will really shine, featuring a 75 ft concrete seawall with steel bumpers, 5k davits and a fish cleaning station. For easy canal access it has swim ladders and stairs from the dock. With a fenced-in yard, huge side yard with double swing gates for secured trailer storage, tiki, pool, and large exterior gathering space. Each floor has an interior washer and dryer, and the units are separately metered. The property provides ample parking for vehicles, trailers, toys, plus a one-car garage equipped with an impact garage door and enough room to accommodate a large motorhome with plenty of room to turn around. The duplex could be divided and sold separately, providing an investment or co-owning opportunity. You could buy half and a family member or friend could buy half.

Property Details for 571 8th Street

Waterfront
Canal Front
Waterfront
Yes
Zoning
R-2A - Key Colony Two Family
Subdivision
Key Colony Beach (53.5)
Directions
US-1 to Causeway. Turn 1st right at end of causeway. Turn right on 8th St.
Building Style
Ground Level
Vehicle Storage
Attached, RV Parking Open, Trailer Storage, Off Street Parking, Open Parking, Garage, Guest Parking, Covered Parking
Pets
Pets Allowed

Location

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.
Add your commute
LISTING UPDATED: 05/14/2024 10:01 PM

Property Details for 571 8th Street

StatusActive
MLS #606381
Days on Market79
Taxes$10,257 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential / Duplex
Year Built1970
Lot Size0.19 AC / 8,250 SF
CountyMonroe County

Location

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.
Add your commute

Building Information for 571 8th Street

Stories2Residences-Year Built1970Building Size-Lot Size0.19 AC / 8,250 SF

Payment Calculator

$13,674 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,819

Property Taxes

$855

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 571 8th Street

Summary
Location and General Information
  • Waterview: Canal View
  • Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
  • Absolute Longitude: 81.022031
  • Control Depth: 4
  • Off Shore Island: No
  • Listing Board: Marathon/Lower Keys
  • Side: Ocean
  • Mile Marker: 53.5
  • Marathon Neighborhood: Marathon East - Gulf (Airport to Vaca)
  • Neighborhood Feature: Beach, Clubhouse, Bike Paths
  • Key/Island: Key Colony
Owner
  • Owner Name: 571 8Th Street Llc
Taxes and HOA Information
  • Association Info: Mandatory Home Owners Asc: No
  • Association Info: 1st Right of Refusal: No
  • Fee Includes: None
  • Furnished: Unfurnished
  • Tax Year: 2022
  • Tax Exemptions: None
Property
Lot Information
  • Parcel #: 00075020-000000
  • Land Size: Less Than 1/4 Acre
Property and Assessments
  • Legal: BK 9 LT 24 KEY COLONY BEACH FIRST ADDN AMD PLAT PB4-11 SHELTER KEY
  • MLS Approved: Y
  • Bank Owned: No
  • Limited Representation: No
  • SqFt Source: Tax Records
  • Flood Zone: AE-9
  • Rentals Allowed: Yes
  • Deed Restrictions: Unknown
  • Picture Count: 86
  • Document Count: 0
  • Building Style: Above Flood: No
  • Property Condition: Under Construction
  • Security: Patrolled Area
Utilities
  • Utilities: Elect Separate Meter, Municipal Sewer, Water Separate Meter, FKAA
  • Pub Sewer HkUp: Yes
  • Species List: No
  • Pool: Yes
  • Pool Info: Heated: No
  • Pool Info: Fiberglass, In Ground
  • Porch/Balcony: Open Porch/Balcony, Screened Patio
Interior and Exterior Features
Interior Features
  • Floor: Tile
  • Appliances: Dishwasher, Refrigerator, Range, Oven, Microwave
Exterior Features
  • Roof: Metal Roof
  • Dockage: Dock Length: 75
  • Dockage: Dock: Concrete
  • Dockage: Seawall: Concrete
  • Construction: CBS
  • Dockage: Davits
  • Exterior Features: Chickee Hut, Storage
  • Windows/Doors: Impact Rstnce Window, Single Hung Windows, Sliding Glass Doors
Room Information
  • Specialty Rooms: Other

Property History for 571 8th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 571 8th Street

Taxable ValueLand$862,125Additions$353,359Total$1,215,484
Tax Record2023$11,301 ($942 / month)
Home Facts
Baths3Total Finished SqFt2,218 SqFtAbove Grade Finished SqFt2,218 SqFtStories2Lot Size8,250 SqFtStyleMulti-Family Dwelling (2-4)Year Built1970Year Renovated2005CountyMONROEAPN00075020-000000

Schools near 571 8th Street

This home is within Monroe.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 12
Charter - PK to 5
Charter - PK to 8
Rating
School
Distance
Stanley Switlik Elementary School
PublicPK to 5

Marathon School
Public6 to 12

Big Pine Academy
CharterPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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571 8th Street is a multi-family home for sale in Key Colony Beach, FL 33051. This property was listed for sale on August 20, 2023 by Coldwell Banker Schmitt Real Estate Co., it's currently listed at $2,349,000. It has been on the market for a total of 79 days and was last sold on March 28, 2023. This listing's school district is Monroe. Nearby schools include Stanley Switlik Elementary School, Marathon School and Big Pine Academy. 571 8th Street is a 5-bed, 4-bath, 2,218 sqft multi-family home built in 1970.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Coldwell Banker Schmitt Real Estate Co.

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.