1 / 41508 Grinnell Street, Key West FL 33040
Key West, FL
List Price
$2,595,000
Type
Single Family
Bedrooms
3
Bathrooms
3
Price / SqFt
$1,266/sqft
Price reduction
7.3% below original list — was $2,800,000
From the listing
Traditional key West home impeccably maintained, boasts three bedrooms, three full baths with plenty of closets throughout the home. Large private lot with a heated pool featuring a waterfall. Nice size cabana room that has a/c and heat with ample closet space can be a fourth bedroom. This home has large rooms for entertaining, quaint front porch and off street parking. A true treasure.
Property Information
- Square Feet
- 2,049
- Units
- 1
- Days on Market
- 459
- Status
- active
Location
- County
- Monroe County
- Zip Code
- 33040
- Coordinates
- 24.5592, -81.7970
Represented by Academia
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Why this deal
- 7.3% off original list price
- Value-add opportunity
- Represented end-to-end by Academia
- Active listing — move quickly
Deal Score
50/100
Fair
is scored →
No comp-based ARV yet for this listing — equity scored neutral.
7.3% off original list (full marks at 25%+).
459 days on market (full marks at 120+ — more time = more leverage).
No explicit distress language in the public remarks.
A screen of the public MLS data we have — not an appraisal, valuation, or investment advice. Factors marked “assumed” were missing from the feed and scored neutral.
Deal scorecard
How four stakeholders read this deal
Risks
- Equity not yet estimated — no comps available for ARV
- Flood zone AE — mandatory flood insurance required (NFIP or private); adds to carrying cost
What a super-investor sees
Investor
Investor equity estimate based on ARV from closed MLS comps minus list price and estima…
- Equity not yet estimated — no comps available for ARV
What a bank sees
Lender / financing
Lender financeability estimate based on list price, ARV, and condition signals. Not a f…
What an insurer sees
Insurance / 4-point
insurability v1. Miami-Dade is entirely within the HVHZ (High-Velocity Hurricane Zone) …
- Flood zone AE — mandatory flood insurance required (NFIP or private); adds to carrying cost
What a GC / AHJ sees
Permits / condition
Permit data from county permit records; may lag; verify open permits with the AHJ. Limi…
4-point — last permit
- Roofnone
- Electricalnone
- Plumbingnone
- HVACnone
Estimates from public data — not an appraisal, insurance quote, or financing commitment. Insurability as of 2026-07-24. Verify with licensed professionals.
Deal calculator
Value-add deal calculator
508 Grinnell Street, Key West FL 33040, Key West, FL
No closed comps matched yet — ARV below is a starting estimate. Verify.
Recommended max offer
$1,746,000
Room vs list (above list)
$849,000
Est. equity
-$385,425
-15% of ARV, at list
ROC at list
-13%
Est. all-in at list
$2,980,425
list + rehab + txn + carry
70% rule MAO
$1,746,000
Estimates only — not investment advice or an offer. ARV is drawn from recent closed comps; rehab from a rate-card range. Verify ARV, rehab, and all costs with a licensed professional before acting.