3305 Eagle Avenue Real Rstate Key West 33040

real estate for sale 3305 Eagle Avenue Key West Florida

real estate for sale 3305 Eagle Avenue Key West Florida

 This is one of the most inexpensive homes on the market.  You'll need some cash for renovations or an FHA 203k loan.  It is right in the middle of the island and a quick bike ride to everything... the skate park, baseball fields, grocery stores, theater, shopping and schools.
 In this price range it is rare to find a home with a yard.  There is also a concrete driveway with parking for 2 cars in the yard and parking in front.  This home has window a/c units.
This asking price for this home is at the low end of similar sold properties.  I've seen all of the sold properties.  This property is comparable to the sales in this price range.
MLS # 114076
3305 Eagle Avenue, Key West, FL  33040
1,032 square feet
2,063 square foot lot
built in 1985
$152,000
additional information
    
Investment areas:

There are termites.  The home needs to be tented.
The fence in the front yard and in the far left back yard needs to be repaired (see video).

There is possible spalling in the front of the home on the lower right corner (see video).

The base cabinet under the sink needs to be replaced.  The leak under the sink needs to be repaired.

The carpet on the stairs, upstairs hall and bedrooms upstairs needs to be replaced.

A small 4 foot wall has been added at the entrance and along the first level of stairs.  The living room was a bedroom.  A buyer may consider removing the wall to open up the living room.
Interior, exterior and deck paint.

Tile repair in the kitchen next to the cabinet the size of a 2 inch portion of a 1 X 1 ceramic tile (see video).



Living Room that is currently a bedroom.  Easy repair - remove the door frame and surrounding dry wall to open up the space.


Kitchen

Dining Room

Bath down stairs

Bedroom 1

Bedroom 2

Bath  up stairs

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C27 10th Avenue Stock Island ~ real estate for sale

C27 10th Avenue Stock Island ~ real estate for sale

C27th 10th Avenue may be the most affordable piece of real estate available in the lower Keys. It's definitely the biggest bang for your buck. At $125,000 for 1,643 square feet the seller is asking for just $76.08. I never talk about price per square foot because that would be like weighing a BMW and a Lexus and deciding which was worth more based on the weight, but there is no denying that $125,000 is not a price you see for a home in the Keys very often.

This property sold for $435,000 on August 3, 2004.

This home is 3 bedrooms and 2 bathrooms. You could lock out the one bedroom and one bath and a room mate would have a private apartment. With 3.5% down you would need $4,375 which is less than you would need for first, last and security if you were renting a home. The mortgage would be $120,635 which is just under $660 a month for principal and interest.

The taxes were based on a $185,000 value so they were $2,368.06 last year. If the tax collector re-appraises the property at the new purchase price of $125,000 the taxes would be just under $935 a year. If the insurance is $4,600 a year and the taxes are $935 the taxes and insurance would run $461 per month.

With a room mate your monthly mortgage payment would be pretty affordable.

The exterior paint color and yard look terrible and a fresh coat of paint, a little sand and sod and a few flowers will brighten up the curb appeal. The interior is in pretty good shape.

MLS # 1162604
C27 10th Avenue, Stock Island, FL 33040
$125,000
3/3 (2/1 and 1/1)
1,643 square feet
3,570 square foot lot
built in 1972
Frame with stucco

Street view

left side of home

front yard

right side of home

kitchen

living room

bath

bedroom

bedroom 2

bedroom 3

kitchen 2

Bath 2

video street view

6 Tern Lane, A and B, Geiger Key, FL 33040

6 Tern Lane, A and B, Geiger Key, FL  33040

This home sits on a piece of property that is 16,672 square feet.  There is a 4,386 square foot easement which may be the Navy's access to their land. 

This concrete structure has 2 units and is alegal duplex.  There is some concrete spalling and the structure should be inspected for repairs that have been done in the past or may need to be done in the future.  

One unit is ground level and is 2 bedrooms and 2 baths.   There are window units, wood kitchen cabinets, white ceramic tiles and painted paneling.  There is some peeling paint on the ceiling in the kitchen.  This type of peeling is generally a result of using 1 type of paint initially and then repainting over the surface with a different type of paint (a water based paint covered with a latex paint, for example).

The 2nd unit is on the 2nd floor and is 3 bedrooms with 1 bath.  There are gray ceramic tiles in the living room, laminate wood floors in the kitchen and marble floors in the bedrooms.  There are stainless steel appliances and granite in the kitchen.  There is some damage to the ceiling in the kitchen in the left corner.  

There are window units and a central air conditioning system.  The decks all need to be power washed and treated with wood stain or paint.  There are sliding glass doors on the ground level unit and you step down from the deck to enter through the doors.  There is some landscape lighting around the pool and jacuzzi.

This is a legal duplex and there are separate electric meters.  There is an in-ground concrete pool with a beautiful coral rock waterfall and an in-ground jacuzzi.  The pool area brick pavers were added in 2005 and the tiki hut was also added in 2005.  The roof was replaced with metal v crimp in 2000.  

The property has water access.  You may need a flat bottom boat, a shallow draft boat or a kayak.  The turn is tight out of the cut-out boat slip to the canal.  It feels like a private lagoon where the cut-out boat slip is.

The Navy owns the land between the ocean and the lot line.  The Navy land is directly under the flight path of Boca Chica Air Station.  There are just 2 homes on this block so access to the Navy property may need to be by boat or an easement.

The list price is $291,900.  A full price offer financed at 4.75% would come out to $1,522.69 for principal and interest.  

The 2010 taxes were $4,841.41 which should go down with a new sales price of $291,900.  For a non-homestead property the taxes should be in the $3,255 range annually.  

If the insurance is $3,000 and the taxes are estimated at the old $4,841.41 rate then $653 a month would cover the taxes and insurance.  If the taxes are $3,250 in 2011 and the insurance is $3,000 then $520 a month would cover the taxes and insurance annually.

If you were able to rent 1 unit for $1,500 and your monthly mortgage payment was between $2,065 and $2,175 then your net monthly payment would be between $520 and $676.  This is a really affordable property.  It sold for $766,000 in March 2006.

The tax assessor has a note that says the previous owner rented the ground level unit (2 bedroom, 2 bath) and lived in the 2nd story unit (3 bedroom, 1 bath).  The notes say that the bottom unit is 53% and the top unit is 47% of the structure.

6 Tern Lane, Geiger Key, FL  33040MLS  114068
$291,900
3/1 upstairs, 2/2 downstairs2,015 sf
16,672 sf lot
Built in 1968
CBS construction