Great income producing property. Rare opportunity to own downtown in Cedar Key. Two apartments in an elevated building not affected by storm surge. One bedroom apartment upstairs, with full kitchen. Efficiency apartment below with walk in shower. Both have views of the Gulf and downtown area. House offers opportunity for rental income while you live upstairs or rent out both. Great rental history, convenient location close to everything.
Sale closed
$499,900
581 First St, Cedar Key, FL 32625
2beds
2,482sqft
Single Family Residence
Built in 2002
2,613.6 Square Feet Lot
$479,900 Zestimate®
$201/sqft
$2,229 Estimated rent
Home value
$479,900
$446,000 - $513,000
$2,229/mo
Zestimate® history
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$2,229/mo
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$3,257/mo
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Est. payment
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Zillow last checked: 7 hours ago
Listing updated: March 20, 2025 at 08:23pm
Listed by:
Lori Schleede 352-221-0572,
Pelican Realty 352-543-5581
Bought with:
Doris C Hellermann Pa, BK233842
Cedar Key Realty, Inc.
Source: Dixie-Gilchrist Levy Counties BOR,MLS#: 789321
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: Main
Primary bathroom
- Features: Combo Tub & Shower, Walk-in Shower
Heating
- Electric, Multiple Units
Cooling
- Electric
Appliances
- Included: Bar Fridge, Dishwasher, Disposal, Microwave, Microwave Hood, Electric Range, Refrigerator, Washer/Dryer Stacked
- Laundry: Laundry Closet, Laundry Room
Features
- Breakfast Bar, Ceiling Fan(s), Open Floorplan, Wired for Data
- Flooring: Tile
- Windows: Single Hung Windows, Blinds
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 2,482
- Total interior livable area: 2,482 sqft
Property
Parking
- Parking features: Side/Rear Entry, Under House, Brick, Concrete, Dirt, Shared Driveway
- Has uncovered spaces: Yes
Features
- Levels: 2+ Story
- Patio & porch: Porch
- Exterior features: Balcony, Lighting
Lot
- Size: 2,613 sqft
- Features: Interior Lot, Rectangular Lot
- Topography: Level
Details
- Additional structures: Separate Entrance Apt
- Parcel number: 0851400400
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Key West
- Property subtype: Single Family Residence
Materials
- HardiPlank Type, Frame
- Foundation: Raised
- Roof: Metal
Condition
- Year built: 2002
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Cedar Key
- Subdivision: Cedar Key
Other
Other facts
- Listing terms: Cash,Owner May Carry
Price history
| Date | Event | Price |
|---|---|---|
| 11/21/2023 | Sold | $499,900$201/sqft |
Source:  Dixie-Gilchrist Levy Counties BOR #789321 Report a problem | ||
| 10/25/2023 | Pending sale | $499,900$201/sqft |
Source: Dixie-Gilchrist Levy Counties BOR #789321 Report a problem | ||
| 10/6/2023 | Listed for sale | $499,900$201/sqft |
Source: Dixie-Gilchrist Levy Counties BOR #789321 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $8,516 +18.9% | $394,847 +36% |
| 2023 | $7,161 +15.4% | $290,277 +10% |
| 2022 | $6,206 +15.8% | $263,888 +21% |
Find assessor info on the county website
Neighborhood: 32625
Nearby schools
GreatSchools rating
- 8/10Cedar Key High SchoolGrades: PK-12Distance: 0.5 mi
- NALevy Virtual Instruction ProgramGrades: K-5Distance: 32.7 mi
- NALevy Virtual FranchiseGrades: 6-12Distance: 32.7 mi
Schools provided by the listing agent
- District: Levy
Source: Dixie-Gilchrist Levy Counties BOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Florida
- Levy County
- Cedar Key
- 32625
- 581 First St