With Florida Keys real estate prices down to 2003 levels, there are lots of opportunities to buy a second home at a great price in this paradise of islands. The Florida Keys has long been a big draw for people who visit often enough to see the advantages of owning their own vacation home instead of paying rental fees every year – not to mention costly hotel rates.
A Monroe County ordinance restricting short term rentals makes it tough to find properties that can be rented for less than one month, but in incorporated communities such as Key Colony Beach, there are plenty of properties with short term rental licenses. Buying a home like this may allow you to rent your home when you’re not using it.
Here are two listings in Key Colony Beach that already have rental histories.
A half duplex on open water (MLS#541138) is offered at $745,000. This two bedroom, two bath stilt home faces east on Bonefish Bay and offers the boating enthusiast a deep draft, 30 foot finger dock that can…