Under contract

$1,848,000

461 & 471 3rd St, Key Colony Beach, FL 33051

6beds

2,528sqft

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Duplex, Multi Family

Built in 1997

-- sqft lot

$1,721,500 Zestimate^®

$731/sqft

$-- HOA

What's special

Capitalize on proven income and flexibility with this fully furnished, turnkey waterfront duplex generating approx. $100K/year in rental income! Built above flood for added peace of mind and potential insurance savings, this well-established (for 10+ years) vacation rental features two spacious 3BD/2BA units with private entrances and parking. Enjoy 60 ft. of deep-water dockage on a wide canal with immediate ocean access, plus two private waterfront outdoor living spaces framed by lush tropical landscaping and privacy fencing between. Whether you rent both units, live in one and rent the other or enjoy as a multi-family retreat, this property offers unmatched versatility at a price point well below comparable 6-bedroom waterfront single-family homes in Key Colony Beach. Just 1/4 mile from the Cabana Club and close to beaches, dining, and shopping--ready for immediate use or continued rental success!

395 days

249

9

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 4
Full bathrooms: 4

Cooling

Central Air, Ceiling Fans(s)

Appliances

Included: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer

Features

Storage
Flooring: Tile
Doors: Sliding Glass Doors
Windows: Drapes/Blinds Incl, Window Treatments, Single Hung Windows, Panel
Furnished: Yes

Interior area

Total interior livable area: 2,528 sqft

Property

Parking

Total spaces: 4
Parking features: RV Parking Open, Trailer Storage
Has uncovered spaces: Yes

Features

Fencing: Fenced,Privacy
Has view: Yes
View description: Canal
Has water view: Yes
Water view: Canal
Waterfront features: Canal Front, Waterfront, Dock: Concrete, Dock Length: 60

Lot

Size: 6,969 Square Feet
Features: Less Than 1/4 Acre

Details

Additional parcels included: 00072850000100
Parcel number: 00072850000000
Zoning: R-2A
Zoning description: Key Colony Two Family

Construction

Type & style

Home type: MultiFamily
Property subtype: Duplex, Multi Family
Attached to another structure: Yes

Materials

CBS
Roof: Metal

Condition

Year built: 1997

Utilities & green energy

Electric: Elect Separate Meter
Sewer: Municipal Sewer, Community Swr Plant, Public Sewer
Water: Water Separate Meter
Utilities for property: FKAA, Cable Available, Cable Connected

Community & HOA

Community

Features: Tennis Court(s), Bike Paths, Beach
Security: Smoke Detector(s), Patrolled Area
Subdivision: Key Colony Beach (53.5)

HOA

Has HOA: No
Services included: None

Location

Region: Key Colony Beach

Financial & listing details

Price per square foot: $731/sqft
Annual tax amount: $6,941
Date on market: 5/28/2025
Listing terms: Cash,FHA,VA Loan,Conventional

Estimated market value

$1,721,500

$1.64M - $1.81M

$3,890/mo

Price history

Date	Event	Price
6/8/2026	Contingent	$1,848,000$731/sqft
Source: Key West AOR #615206 Report a problem
3/18/2026	Price change	$1,848,000-2.6%$731/sqft
Source: MLKAR #615206 Report a problem
1/22/2026	Price change	$1,898,000-2.3%$751/sqft
Source: FLKMLS #615206 Report a problem
1/3/2026	Price change	$1,943,000-0.3%$769/sqft
Source: MLKAR #615206 Report a problem
10/10/2025	Price change	$1,948,000-2.5%$771/sqft
Source: FLKMLS #615206 Report a problem
5/28/2025	Listed for sale	$1,998,000$790/sqft
Source: Key West AOR #615206 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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