2 Bedroom 1 Bath Condo Low Fees Key West FL
If you are looking for the most reasonably priced condo in Key West then the condos on Flagler Avenue between the 3201 block and the 3255 block may be worth your consideration. The addresses for the condos are 3201, 3229 and 3255 Flagler Avenue in Key West Florida.
All of the condos are 2 bedroom 1 bath units that were built in 1990 and 1997 and are approximately 750 square feet. The condo fees are $125 per month. This is the lowest condo fee in Key West and it includes your insurance.
3229 Flagler #205 is available with an asking price of $140,000. There are a few repairs needed. The track lights in the kitchen don't work. There are ceiling marks near the a/c return which may be the drip pan. There are 2 missing tiles at the front door where there is evidence of termites. There is a chipped tile to at the front left corner of the refrigerator. The kitchen and bath are in nice condition. Over all the condo is in move in ready condition.
Interested in the sales history? Since the year 2000 25 condos have sold. The least expensive condo ever sold was a gutted unit with an asking price of $95,000 and a sold price of $107,000. The most expensive condo ever sold was $410,000. The over all list to sold price ratio (L/P) is 96.79% which means the average buyer paid 96.79% of asking price during the 10 year spread in time. The average Days on Market for these condos was 51 days.
Current pending sales are priced lower than the year 2000 sold prices. In the year 2000 condos were selling between $200,000 to $215,000. By 2003 prices had climbed into the $250,000 to $275,000 price range. In 2004 prices started the year at $325,000 and ended the year at $394,000. In 2005 the highest priced unit was sold at $410,000. 2011 prices are 50% + or - 5% of peak prices. This is a condo that people buy quickly and pay close to asking price according to the sales history.
The condos are across the street from the Mobile gas station, Ashley Furniture and Bank of America and above a variety of retail shops. It's a match made in heaven for the condos owners and the retail shops. When most owners are at work the retail shops can use the parking spaces and in the evening when most people are off from work the owners can park in the retail spaces.
There were 4 sales in 2009. The average list to sale price ratio was 95.5% and the average price per square foot was $202.70 and the average unit was 750 square feet. The median sale price was $157,450. The lowest priced sold unit was gutted and there was no a/c, no appliances, no flooring. It was 763 square feet. It was listed for $95,000 and there were multiple offers. The property was not financeable. The winning bid was a cash offer of $107,000. The property was listed and closed in 8 days.
3201 Flagler # 606 sold for $160,000 March 3, 2009 (asking price $165,000) ~ days on market 149
3229 Flagler # 211 sold for $107,000 July 21, 2009 (asking price $95,000) ~ days on market 8
3255 Flagler # 401 sold for $180,000 November 25, 2009 (asking price $215,000) ~ days on market 31
3255 Flagler # 403 sold for $154,900 July 24, 2009 (asking price $154,900) ~ days on market 215
There was 1 sale in 2010. The address is 3229 Flagler and it was unit # 210 (facing Pearl Street) . The asking price was $150,000 and it sold for $115,000 cash. The unit was 3229 and was built in 1997. It had carpet and white appliances and was in liveable condition once the carpet had been changed and the walls painted. The deal closed 16 days after the listing date.
3201 Flagler Avenue #610 is currently available with an asking price of $178,000. It has been on the market for 34 days as of Monday, February 21, 2011.
3229 Flagler Avenue #204 is currently under contract with an asking price of $125,000 and it is a short sale. # 204 was on the market for 20 days and the sale is currently waiting for lender approval.
Living Room 
Kitchen 
Master Bedroom
Bedroom 2
Kitchen
Missing Tiles 
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Tile Left of Refrigerator
Ceiling Marks
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