Off-Market Property at 709 Chapman Ln, Key West, FL, 33040
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709 Chapman Ln, Key West, FL, 33040

$1,350,000

Description

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $1.4K per day and long-term for an average of $4,490 per month, based on similar listings in the area. Estimated short-term cap rate of 12.9%. Estimated long-term cap rate of -2.7%. Stroll down Chapman Lane to your new cottage--located in the heart of Bahama Village, Old Town Key West (an X-flood zone). As you approach, take note of the new metal roof. Step onto the porch of your conch-style home (built in 1899-1907, according to historian). Scratch the heads of your two new pets--Couscous (tortoiseshell female) & Baba ghanoush (black male w/ one good eye), SPCA-released community cats. Yes, wonderfully, the house conveys with tenants! You need only feed this girlfriend / boyfriend pair 27 times a day, and allow them to sleep on your porch chairs. Straighten your rooster doormat (BG thinks it's a toy) because it's time to go inside. You're old. You need to locate the bathroom first. Luckily, it's 8 steps away. Reach for the doorknob. Gasp at how clean and well-maintained the room is. Notice that if you squint, it looks pretty good. Now that you're relaxed, you might realize the structure has new impact windows; wood flooring; Dade County pine walls, shelves & kitchen counters; high ceilings; high-end appliances; 2 bedrooms; a utility room (laundry, storage, counter for wrapping presents & half bath); a kitchen-dining room combo; and a whiskey / game room that opens to the back yard. Here, you'll find your very own farm: chickens, catbirds, finches, hummingbirds, doves, iguanas, lizards, and a butterfly garden with host & nectar plants. As you fill your plastic baby pool with the garden hose, watch butterflies flutter overhead. Enjoy a dip. Suck on a mango or Hass avocado while you do because you've got both trees on your farm. After your snack, extend your arms; do a few arm circles. It's time to unpack your things. Place your sleeper sofa in the living room. Walk guests around the corner to Blue Heaven, Santiago's, or a concert at the Coffee Butler Amphitheater. Maybe you prefer skipping to the waterfront for happy hour or to Glazed Donuts for fritters. Somersault 3 blocks to world-renowned Duval Street. Enjoy your home today!

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$0
Rental Policy
daily
Yearly Taxes
$3833
Bedrooms
2
Bathrooms
2
SQFT
1,109
Furnished
unknown
Year built
1934
Listing Status
Off Market
MLS
605097

Short-term Rental Potential
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$264,612

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$1217

Price/SQFT

Long-term Rental Potential
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$53,880

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$4,490/mo

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