Elevated Two-Unit
For Sale
$860,000
187 & 189 Casa Court Drive, Key Largo, FL 33070
Residential, Key Largo, FL
Property Size1,804 SF
Lot Size0.17 Acres
Price / SF$476.72
Days on Market72
Property Features for 187 & 189 Casa Court Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF - Multi-Family Attache
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking features
RV
Pets allowed
Yes
Interior features
Split Bedroom, Smoke Alarms, Storage
Exterior features
Lighting, Shed, Storage
Appliances
More Appliances, Dishwasher, Refrigerator, Range, Oven, Microwave
Subdivision
Adobe Casa (94.0)
View
Water
Directions
US1 Bay Side.
Standard status
Active
APN
00481660-000000
Size
1,804 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BK C LT 5 ADOBE CASA COURT KEY LARGO PB5-17 OR619-415 OR788-854 OR790-1844 OR791-986 OR815-2370 OR823-462 OR916-1017 OR1
Tax Annual Amount
7302
Legal Description
BK C LT 5 ADOBE CASA COURT KEY LARGO PB5-17 OR619-415 OR788-854 OR790-1844 OR791-986 OR815-2370 OR823-462 OR916-1017 OR1
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
covered parking
Building Details
Year built
2006
Number of units
2
Flooring type
Tile
Building materials
CBS, Concrete
Roof type
Metal
Additional Structures
Storage
Listing Agency:
LoKation Real Estate
(954) 545-5583
Listed By:
Tracey E. Petrusha · License #651549
(305) 896-1080
Added: Aug 12
Changed: Oct 22
Last Checked: Oct 22 at 11:06PM
MLS# 620967
Copyright © 2026 Florida Keys Board 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.
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Investment Insights
Based on property information with market context.
This 1,804-square-foot duplex in Key Largo contains two separate residences, each configured with two bedrooms and one bathroom. Built in 2006, the elevated CBS construction is set on stilts and topped by a metal roof. Tile flooring, central heating and air conditioning, and a recent exterior paint update are among the property’s features.
The 0.17-acre property includes covered parking with space for an RV, along with a shed and additional storage. Cable service is available. Appliances include a dishwasher, refrigerator, range, oven, and microwave.
The 0.17-acre property includes covered parking with space for an RV, along with a shed and additional storage. Cable service is available. Appliances include a dishwasher, refrigerator, range, oven, and microwave.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,804 square feet on a 0.17‑acre lot
- Elevated CBS construction on stilts with a metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,221
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,420
$604.4K
Cap Rate 7%
$431,729
$431.7K
Cap Rate 9%
$335,789
$335.8K
Market Conditions
NOI Build-Up for 1,804 SF
Gross rent
$46.1K $25.56/SF
− Vacancy
−$2.9K −$1.63/SF
EGI
$43.2K $23.93/SF
− OpEx
−$13.0K −$7.18/SF
NOI
$30.2K $16.75/SF
Area
Monroe County, FL
Vacancy
6.37%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,420
Cap Rate 7%
$431,729
Cap Rate 9%
$335,789
Alternative Uses
Best Use
Multifamily LT 5
$431.7K
$377.8K – $503.7K
NOI $30,221 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$399.9K
$349.9K – $466.6K
NOI $27,994 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$725.6K
$634.9K – $846.6K
NOI $50,795 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
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Business Placement
Demographics for 33070, FL
6,220
Population
4,366
Households
1.4
Avg Household Size
52
Median Age
35%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
1,481
Density / Sq Mi
$77,228
Median Household Income
$40,511
Median Earnings
$1,866
Median Rent
$695,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence contains two bedrooms and one bathroom, with central heating and air conditioning.
Where is this duplex located?
The property is located at 187 & 189 Casa Court Drive Key Largo, FL.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,804 square feet on a 0.17‑acre lot; Elevated CBS construction on stilts with a metal roof
