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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
Listing Office: Brenda Donnelly Real Estate LLC
Last Updated: December - 16 - 2025
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