510 Margaret Street, Key West, FL 33040
New Listing
$3,595,000
Property Type:
Residential
Bedrooms:
4
Baths:
4
Square Footage:
1,968
Lot Size (sq. ft.):
2,912
Status:
Active
Current Price:
$3,595,000
List Date:
12/16/2025
Last Modified:
12/16/2025
Description
510 Margaret Street and 3 Scheppens Lane deliver an unparalleled island retreat. Ideally positioned on one of the most coveted streets in the heart of Old Town, this light-filled 4BD/4BA compound offers both comfort and privacy. The beautifully updated 3BD/3BA main residence features restored Dade County Pine walls, striking hardwood floors, Verde granite countertops, Thermador stainless including a large wine cooler, and a stunning vaulted great room. The detached 1BD/1BA guest cottage offers its own full bath, fully equipped kitchen, living room. It can be accessed from its own private lane- ideal for hosting family and friends. Just off the cottage is a private off-street space to accommodate a golf cart. Both homes are designed with entertaining in mind- with bright, open living areas that flow seamlessly to the private backyard oasis, and easy access to a large built-in wine cooler. Outside, a serene pool complete with a stacked-stone waterfall provides the perfect sanctuary for relaxing or entertaining in true Key West style. Don't miss the chance to see this exceptional Old Town property that showcases meticulous renovation, high-end finishes, and historic charm.
Open Houses
Sunday, December 21, 12:00 pm - 3:00 pm
More Information MLS# 617723
Contract Information
Listing Board: Key West Association
Current Price: $3,595,000
Listing Date: 2025-12-16
List Price: $3,595,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE
Alternate Key #: 1008486
Parcel #: 00008220-000000 00008240000000
Zoning: HHDR - Historic High Density Residential
Deed Restrictions: Unknown
Legal: KW PT LT 2 SQR 47 OR601-797 OR802-1368 OR932-1484 OR990-1867 OR1206-1740/41 OR1227-2103/05 OR1259-2398 OR1370-1104/06
Taxes: 16302.41
Tax Year: 2024
Pub Sewer HkUp: Yes
Street #: 510
Street Name: Margaret
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unlisted (1.0)
Area: 02 - Key West
General Property Description
Realtor.COM Type: Residential - Single Family
Waterfront: No
Control Depth: 0
Lot SqFt: 2912
Pool: Yes
Lot Sqft Source: Property Data Card
Total Units: 2
SqFt Source: Appraisal
Rentals Allowed: With Restrictions
Style: Single Family
Year Built: 1938
Living Apx SqFt: 1968
Total Bedrooms: 4
Full Baths: 4
Total Baths: 4
Remarks & Misc
Remarks – Consumer: 510 Margaret Street and 3 Scheppens Lane deliver an unparalleled island retreat. Ideally positioned on one of the most coveted streets in the heart of Old Town, this light-filled 4BD/4BA compound offers both comfort and privacy. The beautifully updated 3BD/3BA main residence features restored Dade County Pine walls, striking hardwood floors, Verde granite countertops, Thermador stainless including a large wine cooler, and a stunning vaulted great room. The detached 1BD/1BA guest cottage offers its own full bath, fully equipped kitchen, living room. It can be accessed from its own private lane- ideal for hosting family and friends. Just off the cottage is a private off-street space to accommodate a golf cart. Both homes are designed with entertaining in mind- with bright, open living areas that flow seamlessly to the private backyard oasis, and easy access to a large built-in wine cooler. Outside, a serene pool complete with a stacked-stone waterfall provides the perfect sanctuary for relaxing or entertaining in true Key West style. Don't miss the chance to see this exceptional Old Town property that showcases meticulous renovation, high-end finishes, and historic charm.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
None: 1
Dockage
None: 1
Tax Exemptions
None: 1
Appliances
Dishwasher: 1
Dryer: 1
Freezer: 1
Gas Appliances: 1
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Stainless Steel Appliance(s): 1
Washer: 1
Wine Cooler: 1
Pets
Pets Allowed: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Tile: 1
Wood: 1
Interior Features
Built-in Cabinets: 1
Cathedral Ceilings: 1
Dade County Pine: 1
Granite Counter Top: 1
Property Condition
Updated/Remodeled: 1
Specialty Rooms
Guest/Servant Qtrs: Legal
Building Style
Above Flood: Unknown
Stories: 2 Stories
Windows/Doors
Impact Rstnce Doors: 1
Other Windows/Doors: 1
Construction
Frame: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Negotiable: 1
Terms
Cash: 1
Conventional: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Porch/Balcony
Deck: 1
Open Porch/Balcony: 1
Title
Negotiable: 1
Exterior Features
Detached Guest Qtrs: 1
Fencing: 1
Lighting: 1
Outdoor Shower: 1
Privacy Wall/Fence: 1
Water Display: 1
Pool Info
In Ground: 1
Heated: Yes
Concrete: 1
Pre-Wired
Cable: 1
Roof
Metal Roof: 1
Financial Status
Standard Sale: Yes
Shutters
Panel: 1
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Updated/Remodeled
Furnished: Negotiable
Cooling: Ceiling Fans(s); Central Air
Utilities: FKAA; Municipal Sewer
Interior Features: Built-in Cabinets; Cathedral Ceilings; Dade County Pine; Granite Counter Top
Pre-Wired: Cable
Appliances: Dishwasher; Dryer; Freezer; Gas Appliances; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer; Wine Cooler
Exterior Features: Detached Guest Qtrs; Fencing; Lighting; Outdoor Shower; Privacy Wall/Fence; Water Display
Pool Info: In Ground; Concrete
Construction: Frame
Shutters: Panel
Floor: Tile; Wood
Roof: Metal Roof
Pets: Pets Allowed
Land Size: Less Than 1/4 Acre
Terms: Cash; Conventional
Title: Negotiable
Documents
Listing Office:
Brenda Donnelly Real Estate LLC
Last Updated: December - 16 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

510 Margaret Elevation Certificate ›