With Florida Keys real estate prices at 2003 levels, there are plenty of opportunities to buy a second home at a great price in this island paradise. The Florida Keys have long been a huge draw for people who visit often enough to see the benefits of owning their own vacation home as opposed to paying rental fees every year, not to mention expensive hotel fees. .
A Monroe County ordinance restricting short-term rentals makes it difficult to find properties that can be rented for less than a month, but in incorporated communities like Key Colony Beach, there are many properties with short-term rental licenses. Buying a home like this can allow you to rent your home when you’re not using it.
Here are two listings on Key Colony Beach that already have rental histories.
An open water half duplex (MLS # 541138) is offered at $ 745,000. This two bedroom, two bath stilt house faces east on Bonefish Bay and offers the boating enthusiast a 30 foot deep draft dock that can accommodate a boat of up to 50 feet. The house comes fully furnished and has tile floors, central air conditioning / heating, accordion shutters, washer dryer, fish cleaning table and outside shower.
Another KCB semi-duplex (MLS # 546837) priced at $ 399,000 offers a beautiful deck on a 100 foot wide canal, thirty feet of canal frontage with a concrete bulkhead and wooden pier. There’s even a designer cement fish cleaning station (D’Asign Source). The property is well landscaped and fenced, and the outdoor furniture includes a gas grill and patio set. The cozy two-bedroom, two-bath home has central air conditioning with heat, tile and carpet floors, and a fully-equipped kitchen that includes a dishwasher. All rooms are furnished; you’re ready to move in with a rental history and future rentals in place.
Key Colony Beach offers all the delights of the central Florida Keys – excellent boating, fishing and diving, plus the amenities of a beach club. The neighboring island of Marathon offers a golf course, restaurants and nightlife and an international airport.
Find some tips on how to buy a second home on MSN Money. Details about the homes described above in the resource box below.
