About Key West's Bahama Village

215 Truman Avenue - Bank Owned - Key West

There is a newly listedBank Owned Conch Cottage at 215 Truman Avenue that bargain buyers may want to consider. This place is cottage because it is on the small side - just 556 sq ft. It is a simple structure with one bedroom, a private bath, a large living and kitchen area that share the rest of the interior living space. The cathedral ceiling transforms the living and kitchen area into a comfortable and spacious place to live and entertain. The cottage has a good sized bedroom on the main floor with a door that opens to the original front porch of the house. The new main entrance to this cottage is off the ample side deck. A ship ladder provides access to the second level loft which provides a good sized area for a mattress for the occasional sleepover guest. Getting up and down works well for little kids but adults would be better off staying in a nearby hotel. The bath is spacious and there is a washer and dryer closet so your other half won't have to go to the laundromat.

Kitchen with view of the loft above

The living and kitchen viewed from the loft

Ample side deck provide comfortable private outdoor living space

Sleeping loft for kids or the occasional house guest

215 Truman Avenue was built circa 1923

The original Conch cottage was built circa 1923 and was thoroughly renovated in 2006. New piers and much of the super structure appears to have been rebuilt. All windows and doors were replaced as was electric, plumbing, and new HVAC added. The house has a new metal roof and storm panels are in place which will reduce windstorm insurance for the new owner.

This Bank Owned Conch Cottage is offered for sale at just $225,000 or $405 per sq ft. The cottage is one of four in the Truman Condominiums. Each unit is owned in fee simple. The condo association exists to maintain the common sidewalk that provides access to the four units that share this limited space. Each owner pays for the maintenance and insurance of their respective homes.

This little place ought to appeal to that special buyer who wants an inexpensive getaway place close to all of the things that happen on or around Duval Street. CLICK HERE to view the Key West mls datasheet on this property. And CLICK HERE to view a slide show of photos I took of this property.

If you would like to see 215 Truman Avenue or any other property in Key West, please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

217 Truman Avenue - Old Town - Key West

I normally write about the cute Conch cottages on the east side of Duval Street because that is the area where most buyers are looking. But today I want to suggest that potential buyers consider the cute Conch cottage located at 217 Truman Avenue as a potential property in Paradise.

The two story house is located three blocks west of Duval Street in the Bahama Village area. The nearest landmark you may recognize is the Bethel AME Church at the corner of Truman and Thomas Street (see photo below).


The listing Realtor describes the property this way:

"This quaint Key West home was renovated in 2006. Upgrades include new kitchen with granite countertops and stainless steel appliances. French doors lead out to the private pool and waterfall. Spiral staircase takes you to the upstairs bedroom with balcony view of the pool area. This is a potential short sale transaction subject to lender approval."

I have shown this house a couple of times. I am surprised it has not sold. It is all redone and it looks very nice on the inside and outside. The main living area is downstairs at the rear of the house. The kitchen is located mid-way and a bedroom and bath are at the front. A spiral staircase leads to the second floor where there is another bedroom and bath. There is a Romeo & Juliet balcony at the rear that overlooks the pool and deck area below. The asking price on this place is now $369,000 (down from the original asking price of $519,000). CLICK HERE to check out the mls data sheet and to view listing photos of this cute Conch Cottage.


This house is definitely worth looking at. There is a lot of house at the asking price. Please call me, Gary Thomas, 305-766-2642, to schedule a showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Just think, you could be using that lovely pool this winter when your friends up north are shoveling snow.

Entrance to Bahama Village Petronia & Duval Streets Key West

721 Chapman Lane built 1906 as it appeared in 1965 (above)

721 Chapman Lane Key West as it appears in 2010

I wrote about 710 Chapman Lane in June 2009. It is located directly across the street from 721 Chapman Lane. That place was a "bargain" if I ever saw one. It was artfully renovated for today's lifestyle. That property was a short sale and the new owner got a terrific deal at the purchase price of $385,000. There are three houses for sale on that block today. One is a short sale (a cute house but a new owner will probably need to do some serious fixing); one is a regular sale and over-priced (have not been inside and probably will not-not at that price); and then there is 721 Chapman Lane. 721 Chapman Lane sold for $900,000 in December 2006. Today it is BANK OWNED and offered for $469,000 or $247 per sq ft.

The listing Realtor describes 721 Chapman Lane thus:

"Old town Key West treasure! Tucked away in Chapman Lane is this quaint, two story bungalow style single family home with private swimming pool. You will not believe the space and layout. Just a few steps from Duval Street and Fort Zachary Taylor beach. Paradise awaits you in the heart of Old Town Key West. Come see it before it's gone!!"

The pool at 721 Chapman looked like this in 2006. Not now!

The original cottage (see black and white photo above) located at 721 Chapman Lane was built in 1906 according to the Monroe County Property Appraiser. The house was enlarged and a pool was added. The house as now configured has large rooms and big spaces. This is not the cottage of yore. This photo CLICK HERE probably best demonstrates how the house grew so large. A new two story addition was added to the back of the old cottage. Downstairs you will find the livingroom complete with black and white checkerboard style floors, a bedroom and bathroom, and a large eat-in kitchen with French doors that open out onto the back deck and pool area. Upstairs you will find two other bedrooms each with private bath. The tub-shower in the master bath looks like something you might find in the International Space Station.

The 1900 sq ft home has 3 bedrooms, two and one-half baths. It sits on a 2646 sq ft lot. There is a white picket fence in front. In my opinion this place needs a serious "fluff" but I did not see any major renovation expense. I do think the master bath is odd, and a new buyer may want to redo it. The color choices and carpet selections throughout the house are a little overwhelming, but the cost to spruce this place up won't be. Most new home owners want to paint and do a bit of cleaning anyway.

Corner of Petronia Street and Chapman Lane

CLICK HERE to see photos I took of the house and the other houses on Chapman Lane. Chapman Lane is located in Bahama Village-one block west of the famous Blue Heaven Restaurant and La Crepere (notice the tourists riding the wrong way on a one-way street. Don't you just love 'em. Not a care in the world.) Many of the neighboring houses have been redone. Chapman Lane runs just one block and is accessed off Petronia and Angela Streets. It's an easy two or three minute walk to Duval Street. The new Key West marina and boardwalk will be a two or three minute walk when it is completed. I believe the new Truman waterfront development will invigorate growth and development in the Bahama Village area as well.

CLICK HERE to review the mls listing info and to view mls listing photos. Better yet, please call me, Gary Thomas, 305.766.2642 to schedule a showing of this old-new house. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Way back in 2003 or 2004 I worked with one of the Key West real estate stars. She had a listing on White Street one half block south of Truman. The house had been totally redone. Three bedrooms, 3 1/2 baths, stainless steel appliances, granite, higher end kitchen cabinets, new3/4 inch solid maple wood floors, pool, and off-street parking. It was listed at $595,000. I hosted Open Houses there for weeks and weeks. I got business off the open houses, but no one would buy it. The feed back I got was that the house was great, but prospective buyers did not want to own a house in Bahama Village. I explained that the same house three bocks to the east would cost $300,000 more. And that is where people were buying homes, not in Bahama Village. Finally, the owner furnished the house and reduced the asking price to $500,000 during a rising market. And it sold immediately.

My current office had a listing on 908-1 Terry Lane in 2005. That house and the one next door at 908-2 Terry Lane were basically identical. Our listing was priced at $1,850,000. The Historic Key West Lighthouse is located on just the other side of the lane. The lane runs north and south from Truman down to Petronia--two blocks only. Neither house sold and the owners went through a series of real estate agents in attempts to sell the spec houses.

The house at 908-2 Terry Lane just got listed again. Here are the details according to the listing Realtor: Newly constructed home that was built to the most current codes and finished with the finest materials inside and out! The minute that you look around this fantastic Old Town property you will be sure to notice the beautiful oak and slate flooring, top of line kitchen with granite counters, wood cabinets and professional series appliances. Luxury and function prevail throughout this incredible home with many thoughtful details, such as built in Yamo sound system, custom closets, Anderson doors and storm protection with hurricane windows and shutters. Custom built home situated on a quiet Old Town lane in a growing neighborhood that has been undergoing many recent changes and improvements. Walking distance to all that Key West has to offer!

The view from the second floor front balcony of the lighthouse is quite magnificent. The great room and kitchen open onto the pool and the rear garden area. The house has everything a prospectiv homeowner wants in a Key West home. The house is now listed at $995,000 or $711 per sq ft.

This property is now available for almost half of the original asking price back in 2005. If the property is purchased this go around, the buyer will get a very well built home with a terrific view at a good price. The negative aspects of owning a house in Bahama Village are changing. The City of Key West is redeveloping the huge tract of ground west of Truman Annex that was given to the City by the US Navy. That project will take several years to complete, but when it is finished the impact on the immediate area and the entire city ought to be as dramatic as the transformation of the Truman Annex property was 20 years ago.

I think properties in Bahama Village are undervalued. And I think the house at 908-2 Terry Lane is specifically undervalued.

CLICK HERE for more info and photos of the house. Want to see it, please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com.