Beautiful one of a kind showcase Ocean Reef canal front home. This custom built home is on the market for only the second time in its history and offers an extraordinary opportunity to get into one of Ocean Reef's best and most sought after neighborhoods. With a brand new seawall and easy access to the Ocean, this home is every boaters dream. With 5,300 expansive sq. ft., this home is great for the entire family. A private master on the 1st floor along with a separate office and patio for the primary owners this home make for great entertaining. The second story can accommodate all the family and guests with 4 bedrooms and a dedicated 2nd floor living room. Expansive patio and sitting area along with outdoor kitchen give this home everything you would want for your Ocean Reef "dream home." The perfect opportunity to make those forever family memories that will last a lifetime.
Sold for $15,750,000
$15,750,000
42 Spadefish Ln, Key Largo, FL 33037
5beds
5,281sqft
Single Family Residence
Built in 2002
0.43 Acres Lot
$15,790,800 Zestimate®
$2,982/sqft
$7,707 Estimated rent
Home value
$15,790,800
$13.74M - $18.16M
$7,707/mo
Zestimate® history
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$7,707/mo
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$7,707/mo
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$94,734/mo
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List your homeWhat's special
Canal frontSeparate officeOutdoor kitchenBrand new seawall
Zillow last checked:
Listing updated:
Listed by:
Eric Woodward,
Ocean Reef Club Sotheby's International Realty
Bought with:
Molly Taylor, Russell Post
Ocean Reef Club Sotheby's International Realty
Source: CLS at Ocean Reef,MLS#: 2729
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 7
- Full bathrooms: 5
- 1/2 bathrooms: 2
Rooms
- Room types: Library
Appliances
- Included: Washer, Dryer, Dishwasher, Freezer, Refrigerator, Microwave
- Laundry: Laundry Room
Features
- Office/Den
- Number of fireplaces: 1
- Furnished: Yes
Interior area
- Total structure area: 5,281
- Total interior livable area: 5,281 sqft
Property
Parking
- Total spaces: 3
- Parking features: Attached, 3 Car Garage
- Attached garage spaces: 3
Accessibility
- Accessibility features: Handicap Accessible
Features
- Stories: 2
- Exterior features: Dock, Outdoor Kitchen
- On waterfront: Yes
Lot
- Size: 0.43 Acres
Details
- Parcel number: 00569441004200
- Special conditions: Traditional
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Spanish/Mediterranean
- Property subtype: Single Family Residence
Materials
- Concrete Block
Condition
- New construction: No
- Year built: 2002
Community & HOA
Community
- Subdivision: Not Condo or Condo Outside MLS Area
Location
- Region: Key Largo
Financial & listing details
- Price per square foot: $2,982/sqft
- Tax assessed value: $13,009,449
- Annual tax amount: $65,108
- Date on market: 9/8/2024
Price history
| Date | Event | Price |
|---|---|---|
| 4/11/2025 | Sold | $15,750,000-12.5%$2,982/sqft |
Source: Public Record Report a problem | ||
| 3/6/2025 | Pending sale | $17,995,000$3,407/sqft |
Source:  CLS at Ocean Reef #2729 Report a problem | ||
| 3/2/2025 | Contingent | $17,995,000$3,407/sqft |
Source: CLS at Ocean Reef #2729 Report a problem | ||
| 1/26/2025 | Price change | $17,995,000-6.5%$3,407/sqft |
Source: CLS at Ocean Reef #2729 Report a problem | ||
| 9/8/2024 | Listed for sale | $19,250,000+156.7%$3,645/sqft |
Source: CLS at Ocean Reef #2729 Report a problem | ||
| 5/12/2017 | Sold | $7,500,000$1,420/sqft |
Source: Public Record Report a problem | ||
| 3/8/2017 | Sold | $7,500,000$1,420/sqft |
Source: CLS at Ocean Reef #1252 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $75,978 +11% | $9,785,728 +10% |
| 2024 | $68,433 +5.1% | $8,896,116 +10% |
| 2023 | $65,108 +16.8% | $8,087,378 +10% |
| 2022 | $55,749 +16.2% | $7,352,162 +10% |
| 2021 | $47,959 +5.5% | $6,683,784 +6.3% |
| 2020 | $45,481 | $6,287,023 +0.4% |
| 2019 | $45,481 +0.2% | $6,263,637 -1.5% |
| 2018 | $45,389 -3.8% | $6,360,255 +116% |
| 2017 | $47,163 +117.2% | $2,944,013 +2.1% |
| 2016 | $21,718 -3.2% | $2,883,461 +0.7% |
| 2015 | $22,442 | $2,863,417 |
Find assessor info on the county website
Neighborhood: 33037
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Nearby schools
GreatSchools rating
- 8/10Key Largo SchoolGrades: PK-8Distance: 13.5 mi
- 5/10Coral Shores High SchoolGrades: 9-12Distance: 28 mi
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Estimated market value
$15,790,800
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$15,790,800
- Florida
- Monroe County
- Key Largo
- 33037
- 42 Spadefish Ln
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