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    Key West Legal Duplex Title is generated by Realmo AI

    1505 Rose Street, Key West, FL 33040

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    For Sale
    $1,785,000

    MULTI_FAMILY - Key West, FL

    Property size:
    1,932 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $923/SF
    Added:
    Jan 20, 2026
    Days on Market:
    122
    Last Refresh:
    May 22 at 5:06 pm

    Property Features for 1505 Rose Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MDR-1 - Medium Desnity Re
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
    Parking features
    Off Street
    Pool private
    1
    Appliances
    Refrigerator, Range
    Standard status
    Active
    APN
    00061080-000000
    Size
    1,932 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BK 1 THE NORTHEASTLY 50 FT OF LOT 11 KW KAMIEN PLAT NO 1 PB3-9 OR327-265/66 OR527-234 OR580-887 OR591-859 OR688-362 OR71
    Tax Annual Amount
    8904

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1958
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Combo
    Building materials
    CBS
    Roof type
    Metal

    We can help!

    Listing Contact
    Bobby W Coe IV

    Listing agent Bobby W Coe IV License #3428120

    Listing office RE/MAX Keys Connection (KW) 517 DUVAL STREET SUITE 200, Summerland Key, FL

    Listing date Jan 20, 2026

    MLS# 618223 Listing URL

    Copyright © 2026 Key West Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Legal duplex offers flexibility as a single‑family home or two rental units
    • Prime location: walk to the beach, bike to Key West attractions
    • Private in‑ground pool and spacious backyard for outdoor living
    • Two separate units: one 2/1, the other a 2/2 with master on the second floor
    • Includes refrigerator, range, and central air conditioning
    • Off‑street parking available

    Overview

    Located at 1505 Rose Street in Key West, Florida, this property is a legal duplex. The layout allows it to function as a single-family home with a guest house, but it can also be rented to two different tenants. The ground level home includes two bedrooms and one bathroom, featuring an open kitchen and a large living room. The second home, situated behind the first, contains two bedrooms and two bathrooms, with the primary/master bedroom located on the second floor. This unit could serve as a pool house or guest house if the property is used as a single-family residence. The backyard features an in-ground pool and ample space for outdoor activities. The property is located in a quiet neighborhood, within walking distance to the beach and a short bike ride away from Key West attractions. The lot size is 0.12 acres and the property size is 1932 square feet. The zoning is MDR-1 - Medium Desnity Re.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.782606
    Latitude
    24.551287

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    FAQs

    What type of property is this?
    Duplex - Legal duplex in a quiet neighborhood, close to the beach.
    Where is this duplex located?
    The property is located at 1505 Rose Street Key West, FL.
    What is the asking price?
    The asking price for this property is $1,785,000.
    What are key features of this property?
    This property features: Legal duplex offers flexibility as a single‑family home or two rental units; Prime location: walk to the beach, bike to Key West attractions; Private in‑ground pool and spacious backyard for outdoor living
    (305) 363-9665
    We can help!
    Listing Contact
    Bobby W Coe IV
    Real Estate License ID: 3428120
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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