Experience the PINNACLE of luxury waterfront living at this exceptional oceanfront residence on prestigious Flagship Drive. Completely reimagined with uncompromising attention to detail, this exquisite 4-bedroom, 3.5-bath home blends sophisticated design with the relaxed elegance of the Florida Keys.
From the moment you enter, you'll be captivated by the expansive open-concept floor plan, breathtaking ocean views, and refined finishes throughout. Oversized 41-inch porcelain tile flooring, designer lighting, premium fixtures, and custom craftsmanship create a timeless, contemporary aesthetic that complements the stunning waterfront setting.
The chef-inspired kitchen flows seamlessly into the spacious living area, making it ideal for both everyday living and entertaining. Walls of glass invite natural light while framing spectacular turquoise water views.
The luxurious primary suite serves as a private retreat with serene ocean vistas and a beautifully appointed spa-inspired bath. Three additional bedrooms and office provide comfortable accommodations for family and guests.
Outdoor living is equally impressive. Multiple covered terraces offer the perfect place to relax while enjoying ocean breezes and unforgettable sunsets. The resort-style pool is complemented by a charming tiki hut, creating an inviting setting for entertaining or unwinding after a day on the water.
Boaters will appreciate the exceptional dockage featuring two boat lifts, providing convenient access to the Atlantic Ocean for world-class fishing, diving, and boating. A spacious two-car garage offers ample room for vehicles, storage, and recreational gear.
Perfectly positioned in one of the Lower Keys most desirable waterfront communities, this remarkable residence delivers an extraordinary combination of luxury, location, and the ultimate Florida Keys lifestyle. Every detail has been thoughtfully curated, creating a move-in-ready waterfront masterpiece that is as elegant as it is in
Under contract
$5,200,000
1046 Flagship Dr, Summerland Key, FL 33042
4beds
3,208sqft
Single Family Residence
Built in 2001
0.26 Acres Lot
$-- Zestimate®
$1,621/sqft
$-- HOA
What's special
Ocean breezesResort-style poolTwo boat liftsRefined finishes throughoutSpacious two-car garageThree additional bedroomsSpectacular turquoise water views
- 47 days
- 466
- 11
Zillow last checked:
Listing updated:
Listed by:
Donna Pezzi 305-304-2602,
Keller Williams Key West Compass Realty
Source: FLKMLS,MLS#: 620606
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
Appliances
- Included: Washer, Dryer, Dishwasher, Refrigerator, Range, Microwave, Water Softener, Disposal, Stainless Steel Appliance(s)
Interior area
- Total structure area: 3,208
- Total interior livable area: 3,208 sqft
Property
Features
- Has private pool: Yes
- Pool features: In Ground, Fiberglass, Decked
- On waterfront: Yes
Lot
- Size: 0.26 Acres
- Dimensions: 80 X 120
Details
- Parcel number: 00198931001400
- Zoning: IS - Improved Subivision District
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Combo Construction, Hardi Board Siding
Condition
- Year built: 2001
Community & HOA
Community
- Subdivision: Summerland Cove Isle (25.5)
HOA
- Has HOA: No
- Services included: None
Location
- Region: Summerland Key
Financial & listing details
- Price per square foot: $1,621/sqft
- Tax assessed value: $3,265,567
- Annual tax amount: $25,300
- Date on market: 7/12/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/4/2026 | Contingent | $5,200,000$1,621/sqft |
Source: | ||
| 7/12/2026 | Listed for sale | $5,200,000+136.4%$1,621/sqft |
Source: | ||
| 8/6/2019 | Sold | $2,200,000+700%$686/sqft |
Source: | ||
| 7/30/1999 | Sold | $275,000$86/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $25,300 +4% | $2,598,264 +10% |
| 2024 | $24,322 +13.2% | $2,362,058 +10% |
| 2023 | $21,481 +16.2% | $2,147,325 +10% |
| 2022 | $18,491 +9.4% | $1,952,114 +10% |
| 2021 | $16,901 -0.9% | $1,774,649 +0.1% |
| 2020 | $17,052 | $1,772,823 +103.5% |
| 2019 | $17,052 +103.1% | $871,302 +1.9% |
| 2018 | $8,395 -0.8% | $855,056 +2.1% |
| 2017 | $8,461 +2.9% | $837,470 +2.1% |
| 2016 | $8,225 -0.8% | $820,245 +0.7% |
| 2015 | $8,288 | $814,543 |
Find assessor info on the county website
Monthly payment
Est. payment




