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For sale
  • Price cut: $26K (3/20)
    $1,399,000

    1111 Watson St APT B, Key West, FL 33040

    2beds
    1,250sqft
    : 
    Single Family Residence
    Built in 1978
    1,742.4 Square Feet Lot
    $1,308,700 Zestimate®
    $1,119/sqft
    $292/mo HOA

    What's special

    Secret Garden Cigar Maker's Cottage in Old Town 🌴Tucked behind a private gate on a quiet section of Old Town in Key West, this enchanting 2-bedroom historic cottage invites you into a hidden world of tropical beauty, offering a rare blend of privacy, charm, and walkable island living--set in an X flood zone for added peace of mind.Follow a palm-lined path into a lush, private garden oasis filled with orchids, vibrant blooms, and softly glowing evening light. The outdoor pavilion and private deck create an effortless indoor-outdoor lifestyle--complemented by a spa-inspired retreat space designed for open-air relaxation, cooling rinses, and tranquil moments under the palms. Perfect for relaxing, entertaining, or simply enjoying the Key West breeze.Inside, vaulted ceilings, natural light, and original Cuban tile details reflect the home's 1890 cigar-maker heritage, while the updated kitchen features quartz countertops, stainless steel appliances, and garden views.Enjoy the charm of a boutique six-cottage enclave with a shared heated pool and spa. The home offers both connection and quiet escape.Just steps to Duval Street, the Historic Seaport, beaches, and beloved local spots -- leave the car behind and explore on foot or bike. Private. Lush. Magical. Effortlessly Pure Key West
    53 days
    |
    902
    |
    28
    |

    Zillow last checked: 9 hours ago

    Listing updated: March 26, 2026 at 11:07pm

    Listed by:

    Juan Alberto Benitez 305-587-9230,

    Keller Williams Key West Compass Realty

    Source: FLKMLS,MLS#: 618516MLS LogoOriginating MLS: Key West Association

    Tour with a local agent

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Full bathrooms: 1
      Cooling
      • Ceiling Fans(s), Ductless
      Appliances
      • Included: Washer, Stainless Steel Appliance(s), Microwave, Refrigerator, Dishwasher, Dryer
      Features
      • Quartz Countertops, Dade County Pine, Built-in Cabinets, Cathedral Ceiling(s)
      • Flooring: Tile, Laminate
      • Doors: Sliding Glass Doors, Impact Rstnce Doors
      • Windows: Drapes/Blinds Incl, Skylight(s), Impact Rstnce Window, Other
      Interior area
      • Total interior livable area: 1,250 sqft

      Property

      Features
      • Levels: One
      • Stories: 1
      • Patio & porch: Deck, Patio
      • Has private pool: Yes
      • Pool features: Heated, In Ground, Decked
      • Has spa: Yes
      • Spa features: Private
      • Water view: None
      • Waterfront features: None, Dockage: None
      Lot
      • Size: 1,742.4 Square Feet
      • Features: Less Than 1/4 Acre
      Details
      • Parcel number: 00033540000200
      • Zoning: HMDR
      • Zoning description: Historic Medium Density Residential
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Cigar Maker
      • Property subtype: Single Family Residence
      Materials
      • Frame
      • Roof: Metal
      Condition
      • Year built: 1978

      Utilities & green energy

      • Sewer: Municipal Sewer, Public Sewer
      • Utilities for property: FKAA

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: Gwynn Sub (1.0)
      HOA
      • Has HOA: Yes
      • Services included: Maintenance Grounds
      • HOA fee: $292 monthly
      Location
      • Region: Key West

      Financial & listing details

      • Price per square foot: $1,119/sqft
      • Tax assessed value: $942,153
      • Annual tax amount: $7,271
      • Date on market: 2/6/2026
      • Listing terms: Cash,Conventional
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        Estimated market value

        $1,308,700

        $1.24M - $1.37M

        $4,925/mo

        Price history

        Price history
        DateEventPrice
        3/20/2026Price change$1,399,000-1.8%$1,119/sqft
        Source: FLKMLS #618516 Report a problem
        2/6/2026Listed for sale$1,425,000+58.3%$1,140/sqft
        Source: Key West AOR #618516 Report a problem
        8/17/2025Listing removed$7,250$6/sqft
        Source: Zillow Rentals Report a problem
        7/31/2025Listed for rent$7,250$6/sqft
        Source: Zillow Rentals Report a problem
        7/6/2025Listing removed$7,250$6/sqft
        Source: Zillow Rentals Report a problem
        4/3/2025Listed for rent$7,250$6/sqft
        Source: Zillow Rentals Report a problem
        4/27/2022Sold$900,000-5.2%$720/sqft
        Source: FLKMLS #599937 Report a problem
        3/21/2022Contingent$949,000$759/sqft
        Source: FLKMLS #599937 Report a problem
        3/3/2022Listed for sale$949,000+30.2%$759/sqft
        Source: FLKMLS #599937 Report a problem
        3/15/2021Listing removed--
        Source: Keller Williams Report a problem
        2/1/2021Price change$729,000-2.7%$583/sqft
        Source: FLKMLS #591229 Report a problem
        9/9/2020Price change$749,000-1.3%$599/sqft
        Source: Keller Williams Key West Compass Realty #591229 Report a problem
        6/13/2020Listed for sale$759,000+46%$607/sqft
        Source: Keller Williams Key West Compass Realty #591229 Report a problem
        3/15/2017Sold$520,000$416/sqft
        Source: FLKMLS #123135 Report a problem

        Public tax history

        Public tax history
        YearProperty taxesTax assessment
        2025$7,271 +9.8%$744,622 +10%
        2024$6,623 +18%$676,929 +10%
        2023$5,612 +1.3%$615,390 -0.3%
        2022$5,543 +30.7%$617,487 +41.7%
        2021$4,242 +0%$435,621 -0.4%
        2020$4,242 $437,455 +0.9%
        2019$4,242 +0.1%$433,342 -3.5%
        2018$4,238 -4.9%$449,010 -19.6%
        2017$4,456 -16.8%$558,135 +1.1%
        2016$5,353 $551,947 +5.4%
        2015-- $523,561

        Find assessor info on the county website

        BuyAbility℠ payment

        Est. payment
        $8,507/mo
        Principal & interest
        $7259
        Property taxes
        $956
        HOA Fees
        $292
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          Climate risks

          Neighborhood: Old Town

          Getting around

          88 / 100
          Very Walkable
          28 / 100
          Some Transit
          88 / 100
          Very Bikeable

          Nearby schools

          GreatSchools rating

          Local experts in 33040

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