What home will $500k buy in the Florida Keys
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- Опубликовано: 19 мар 2024
- Homes in the Keys are expensive! What could you expect to buy for $500k in the Florida Keys? We'll show you a home we bought at this price point and let you know what to expect.
Mark and Laurie are real estate sales associates with Coco Plum Real Estate here in Marathon, FL. We can help you sell or purchase a home in the Florida Keys. Call/Text or email Mark Gable 770-561-6091, markgable@me.com
IF YOU ARE LOOKING FOR A VACATION RENTAL visit www.keysrentalsonline.com and browse our inventory of homes! Laurie and I cannot book the vacation rental for you, but we are happy to answer questions and give you pointers to make your visit here the best that it can be!
Ok no one has asked how much to insure even if you can and it seems to have been rebuilt kinda after being completed underwater after a hurricane or two yeah I’d only buy as a tear down
Possibilities, possibilities, possibilities! Great mature landscaping. It's the little house that could. Wow, this is amazing. You really found a GEM! Will be interesting to see what the journey will be for it and the lot. I LOVE it!
"Open Concept"... you mean they didn't build any walls.
Yep, most people these days want an open concept main living space.
I'm a native Floridian and wish I could live in the Keys! Can't wait to hear the strategy! Love this property and the yard, omg! Nice purchase.
God bless you both!!!
I absolutely love it !
Great blinders, never saw that before!!! 😮
Great information , thanks for sharing
It's nice you now have homes in Key West, Ramrod and your home in Marathon. Good for you Mark and Laurie. You worked hard for this. It sounds like your home is close to the airport. Thanks for the video, Enjoy it when you have no renters. You really found a nice place.
Yes! Thank you!
good job thank you
First TU! 🙂 I love that house! Very nice. Is it on your rental site?
Can't wait to see you break down the #'s for this house. If you put $100,000 down that leaves a balance of $425,000. At 6.75% on a 30 year note the payment is roughly $2750.00. Not sure what real-estate taxes run down there in the Keys but property insurance is astronomical. I would guess that the total expense to own this house would be at least $3500-4000 per month. Would a bank even loan that amount of $$ on that house. I think it's still a great deal for the location . For all but a select few the Keys will always be a rich mans/women's playground.
Probably an owner financed deal with no Insurance to cover the concrete block home ….just my thought.
I agree, I'd love to see the financials on this, including what the rent would be. I can't see how this would work either.
Nevermind about the rent lol. Guess I jumped the gun.
That is correct, we did do an owner finance on the home. We are going to do a video taking a deep dive into how owner financing works and the pros and cons for both buyer and seller. It does not work in all situations, but in this case it worked for us both.
Now try getting it insured!
Laurie is such a great lady!
Cute too!
Did you show this on a previous video before you purchased it or am I crazy?lol you can tell me that I am crazy, it is an aspiration of mine ❤
Add a lapel mic. Your video quality will jump tremendously. It’ll get rid of the echo sound when talking in an empty house.
Living in the keys you wouldn't have to have a big house...this is plenty of space...I would imagine you do most of your living outside in that gorgeous weather and beach...I love it..lots of character too...I've never been to Florida but always wanted to visit the Keys....you guys found a great house....
I love this property and the price of the properties are always going up this is a good investment
A gentleman always compliments a pretty lady. Well done photographer.
Thank you kindly!
Mark with all the turmoil in the home insurance market down there what is your homeowners insurance run on a ground level house?
I’ve Always LOVED A Fireplace in the Home, everyone should be as lucky, we have one in our home currently.
yea just what you need in the keys.
Ohhhh this house is great for a couple maybe even a child. This would be great for retirees who have worked hard and now get to enjoy it
Good luck you two with your investment in the Key's!
Thanks so much!
I love it
Great video.
The yard needs major cleaning. I can see a lot of cleanup after storms. The air traffic is very annoying. With all the complaining I’m doing you can still not have a problem renting. Good luck.👋🏽
Living with all that air traffic noise would seriously drive me CRAZY! Not worth it…just my opinion
Insurance and taxes have priced out most people anywhere in Florida. Not to mention HOA fees
Just think of the house you could buy in any other state for 500k!
I know right! Sometimes makes me crazy what I could have done with that money back in North GA....but then again....I wouldn't own a home in the Keys! It's magical down here in our opinion.
What’s your hurricane insurance costing you?😮
Owner financed. Wouldn't a bank finance rental property on a 15 year fixed?
Nice find, like the lot size, is it well or town water? septic or sewer? good luck!
Thank you, county water and sewer.
I hope it works out for you two you seem like really genuine people and would love to have a beer with ya....keep living your best life. Oh, and bro keep complimenting that wife of yours she is so cute!
Thanks for watching!
I would definitely put mini splits in. For the simple fact that in the winter months, it'd be nice to open up all the windows and get some fresh air in the house without opening the doors to do so. It's a cute little house for sure. I love the kitchen. Not too fond of the counter tops. That backyard is huge for the keys. 😮 i could do so much back there.
The question isn't how much house can you get for that much but who has that kind of money.
This is encouraging. I could definitely live in this home. Friends live in Marathon and love it. The back yard is tremendous. Could you share what taxes and insurance would run? What neighborhood is it in and how far from the boat ramp is it?
Taxes here will run approximately 1% of your purchase price, so in this case we purchased for $525k so I will expect a property tax bill around $5250.00 for the year. Insurance on this house can vary depending on many factors, but as a rough estimate I would think wind, flood, and hazard insurance could easily be $7000 to $10,000 per year.
@@GablesOnTheGo Thanks, this is very helpful!
Here in the Florida Keys, we have the worst trash pickup you will find. The guy down the street had to pay $450 extra to get some limbs picked up that he cut (no large limbs). Recycling pickup is so poor, I've stopped & now everything goes in the regular trash. If you're not connected with someone at city hall, your screwed.
Looking for a long term rental in the keys!
iguana heaven 🤣 nice place keys are awesome
I’m acclimated to pay half of that Love y’all.🌹💯
I’m shocked, we paid $2400 for a 2 bedroom 2 bath apartment here in Georgia and we could have rented a house in the keys and still be comfortable. We bought our house here but we’re always looking to buy a vacation home in Florida…
Would you be permitted to place a park model trailer on the empty part of the lot so that you could have a guest house?
No that would not be allowed.
Hi! I’m wondering, what would be the monthly rate be if you don’t mind answering this question 😊
Somewhere between $2500 and $3000/mo would be typical here on a home like that.
500k will get you 3 yrs home owners insurance.
I'd like to be a insurance salesman in Florida.
What will you do with the Ramrod house? Continue to rent? How much? I am still looking
We still have it. Laurie's daughter and her boyfriend are moving in that one. Looking forward to having them down here!
How much is insurance and if a hurricane wiped out the house would it be covered?
Insurance is very dependent on the property, there are flood, wind, and hazard insurances available for purchase. You would need to speak to a local insurance agent for more details.
Congratulations for buying your new property ! 525,000 $ investment, not bad, it will bring you monthly money from the rental business.
hurricanes, insurance
Yeah but it’s the Keys so one day soon all under water so great if rich and have other homes elsewhere to live in but not for anyone planning an inheritance for their kids.
Marathon is nice, it will eventually be Key West, unfortunately.
I don't think so, Marathon is totally different than Key West in so many ways.
What is the monthly rental price?
We are charging $2500/mo, but we gave them a bit of a deal because they are friends of ours and super tenants. This home would be somewhere around $3000/mo down here.
Don't forget this you need to buy silver and gold. Last housing crash we were 11 trillion in debt in 2008 and silver moved 500%. Now we are 34 trillion in debt getting ready to see the biggest housing crash in history. That all I'm saying. My family is looking to buy in the keys ourselves but after the crash. Foreclosure rates are growing the fasted in history. Personal credit card debt is the highest in history with inflation and layoffs just starting. Home equity is falling out of bed. Redfin CEO say price drops and growing faster than he has ever seen. Any way don't forget load up on gold and silver. I know a guy with the cheapest prices. Love the place..
That's actually a great deal!
Beautiful property, that backyard itself is worth $500k. Would be great if you guys can rent it out as AirBNB
Let’s go into real estate? Insurance very high, taxes high, traffic terrible, hurricane warnings, saltwater runs everything. No thanks
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How much of that $500K has to be set aside for insurance ?
Insurance on a secondary home like this down here could easily go for $10k per year or more....if you insure it. The house is worth very little, the land and the building allocation are where the money is. So, obviously we did not insure it.
Tile the face of fireplace.
That is an idea, thanks!
I haven’t even watched yet and already know the answer….0
This will get you one room in a two bedroom apartment.
This is a smart idea. Perhaps do a 850k- 1mil - 1.5 mil etc
that worth 250k
not here my friend
500k? I'd buy that tomorrow if I didn't love Disney so much! I can't even find anything in Celebration under 500k. (well, condos). A real house? 1 million and up. Home owners insurance, I can't imagine! 2800 mortgage, and another 2800 a month for insurance. LOL.
We would estimate insurance on this home would be somewhere around $10k per year.
@@GablesOnTheGo oh wow. Crazy
❤❤❤❤🛸🛸👽👽🛸🛸
Can you remove the trees?
You can, you just have to get a permit. AND some trees and vegetation here are protected so it can be a expensive and or time consuming process. We love the palms though!
Sorry I thought your new home was in Key West! That's what happens when I didn't listen to the whole video. Sorry again!!
I would love to live there and that was the goal. As a critical care nurse I do not need any training and I got certified in TRAUMA to be in Floridas trauma team. But now social security gives me a check once a month. Due to my disability. I am in heart & lung failure & stood before the board of physicians and I am a liability but…are my dreams over….any one renting ?
Any one willing to work
With me? Having a positive outlook.
Renting is expensive here for sure, but I would never say "your dreams are over" feel free to give me a call and maybe I can be of assistance in some way, or get you with someone that can help find what you need for a rental. Mark Gable LLC, Coco Plum Real Estate Marathon FL 770-561-6091
$500k is a good price for that house in the Florida keys especially for that nice lot and back yard.
Yes…,I would have paid 500,000 for that property!
Take the second bedroom walkin closet and turn it into a second bathroom, it's at least big enough for a toilet and sink
I like your thinking!
That lot is big enough to tear the house down and build a huge 3000 ft home
EXACTLY!!