I think the Bank Owned unit at 42 King Fisher Lane in the Key West Golf Club Community has got to be the best bargain out there at this time. I have enthusiastically showed this unit a few times. It has a good layout; it is in good condition; it has a very nice view overlooking the golf course; and it is priced to sell. The asking price is only $189,000. CLICK HERE to view the Key West mls datasheet and listing photos.
I did a quick comparison between this 780 sq ft unit which is priced at $243 per sq ft to the three other same sized units active listed units that are offered at $422 per sq ft, $449 per sq ft, and $301 per sq ft (this unit is a short sale). The average asking price per sq ft is $371. Value buyers ought to look at all four same to determine the best value as it relates to their specific needs. But I think most buyers will agree that on a per sq ft basis, 42 Kingfisher Lane is the winner on a cost basis. I did a quick check to see if there were any other similarly sized townhomes available elsewhere in Key West so that I could compare to 42 Kingfisher Lane. There is only one lower priced townhome that is located at Key Cove CLICK HERE. That is deed restricted and requires mandatory residence in Monroe County for at least one year prior to purchase and sales restriction when that unit is sold. The 42 Kingfisher Lane is not impaired by those buying or selling restrictions.
CLICK HERE to view a slide show of photos I took of this property. 42 Kingfisher Lane needs a fresh paint job, and the stairway and bedroom carpet needs replaced. Other than that, the place looks pretty much ready to move into. You could relocate the laundry to the second floor and add a half bath downstairs for about $2500 or so. Get a plumber and contractor to verify the costs.
If you are looking for an affordable starter home in Key West, you might just want to take a look at this property with me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.