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For sale
  • Price cut: $2.7M (3/4)
    $17,000,000

    22 Channel Cay Rd, Key Largo, FL 33037

    5beds
    7,096sqft
    : 
    Single Family Residence
    Built in 1996
    0.78 Acres Lot
    $-- Zestimate®
    $2,396/sqft
    $-- HOA

    What's special

    Large poolFive bedroomsPrivate officeSummer kitchenPool terraceMultiple covered outdoor areasGame room
    Situated in the desirable Channel Cay neighborhood, this 33,964-square-foot property offers a rare opportunity to enjoy the very best of Ocean Reef living. Centrally located and exceptionally private, the home boasts long canal views, western exposure for spectacular sunsets, and protected dockage with immediate boating access to both the Atlantic Ocean and Florida Bay—ideal for offshore fishing, diving, and snorkeling. Designed with space and comfort in mind, the residence features five bedrooms and six and a half bathrooms, including a generously sized primary suite complete with dual bathrooms, oversized walk-in closets, and a private office. This home is well-suited for multigenerational living, offering room for everyone to relax and unwind. A dedicated movie theater, game room, and wine room provide spaces for entertainment and leisure, while an oversized garage accommodates multiple vehicles and golf carts with ease. The heart of the home is an open-concept living area with vaulted ceilings, a fireplace, and impact glass sliders that frame the water views and open to the pool terrace. The gourmet kitchen is equipped for serious cooking and connects effortlessly to the formal dining area and living room. Multiple covered outdoor areas, a summer kitchen, and a large pool create an ideal setting for both entertaining and everyday enjoyment. This home is positioned just minutes from the best of Ocean Reef's renowned amenities, including a 175-slip marina, two championship golf courses, tennis and pickleball courts, a private airstrip, dining options, and a cultural center. Offering a perfect blend of privacy, functionality, and location, this is a rare offering in one of the most unique communities in the country.
    105 days
    |
    811
    |
    9
    |

    Zillow last checked: 7 hours ago

    Listing updated: March 04, 2026 at 06:44am

    Listed by:

    Molly Taylor, Russell Post,

    Ocean Reef Club Sotheby's International Realty

    Source: CLS at Ocean Reef,MLS#: 2861MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 7
      • Full bathrooms: 6
      • 1/2 bathrooms: 1
      Appliances
      • Included: Washer, Dryer, Dishwasher, Freezer, Refrigerator, Microwave
      • Laundry: Laundry Room
      Features
      • Office/Den
      • Number of fireplaces: 1
      Interior area
      • Total structure area: 7,096
      • Total interior livable area: 7,096 sqft
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      Property

      Features
      • Stories: 1
      • Patio & porch: Terrace, Deck/Patio
      • Exterior features: Dock, Garden, Outdoor Kitchen
      • On waterfront: Yes
      Lot
      • Size: 0.78 Acres
      Details
      • Parcel number: 00569280000000
      • Special conditions: Traditional
      • Other equipment: Home Theater

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Single Family Residence
      Condition
      • As Is
      • New construction: No
      • Year built: 1996

      Utilities & green energy

      • Gas: Propane Tank-Owned

      Community & HOA

      Community
      • Subdivision: Not Condo or Condo Outside MLS Area
      Location
      • Region: Key Largo

      Financial & listing details

      • Price per square foot: $2,396/sqft
      • Tax assessed value: $13,136,732
      • Annual tax amount: $43,743
      • Date on market: 12/23/2025
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        Estimated market value

        Not available

        Estimated sales range

        Not available

        $6,314/mo

        Price history

        Price history
        DateEventPrice
        3/4/2026Price change$17,000,000-13.6%$2,396/sqft
        Source: CLS at Ocean Reef #2861 Report a problem
        12/23/2025Listed for sale$19,675,022$2,773/sqft
        Source: CLS at Ocean Reef #2861 Report a problem
        10/6/2025Listing removed$19,675,022$2,773/sqft
        Source: CLS at Ocean Reef #2861 Report a problem
        8/10/2025Price change$19,675,022-18%$2,773/sqft
        Source: CLS at Ocean Reef #2861 Report a problem
        4/18/2025Listed for sale$24,000,000+451.7%$3,382/sqft
        Source: CLS at Ocean Reef #2861 Report a problem
        5/9/2006Sold$4,350,000+3.1%$613/sqft
        Source: Public Record Report a problem
        8/17/2000Sold$4,220,200+653.6%$595/sqft
        Source: Public Record Report a problem
        9/21/1993Sold$560,000$79/sqft
        Source: Public Record Report a problem

        Public tax history

        Public tax history
        YearProperty taxesTax assessment
        2025$45,566 +3.6%$6,724,914 +2.9%
        2024$43,981 +2%$6,535,388 +3%
        2023$43,134 +4.8%$6,345,037 +3%
        2022$41,172 -3.5%$6,160,231 +3%
        2021$42,685 +0.6%$5,980,807 +1.4%
        2020$42,419 $5,898,232 -0.1%
        2019$42,419 -0.9%$5,902,628 -0.6%
        2018$42,796 -0.6%$5,940,129 +5%
        2017$43,043 +7.7%$5,656,725 +5.1%
        2016$39,961 +2%$5,380,420 +12.7%
        2015$39,181 $4,773,845

        Find assessor info on the county website

        Monthly payment

        Est. payment
        $96,392/mo
        Principal & interest
        $84775
        Property taxes
        $11617
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          Climate risks

          Neighborhood: 33037

          Getting around

          35 / 100
          Car-Dependent
          58 / 100
          Bikeable

          Nearby schools

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