$10,000 Closing Credit¹
#613459, LISA FRINS P.A., Listing Office: Berkshire Hathaway HomeServices Keys Real Estate - Islamorada
$2,300,000 List price
506 Frances St Key West, FL 33040
$10,000
Closing credit¹
6 beds
4 full
2,671 sqft
$861 / sqft
House
Property details
About 506 Frances St
Nestled on one of the most coveted blocks in Key West, this exceptional property in the Historic District is brimming with character and untapped potential. Currently configured as four distinct apartments - (A) 2BR/1BA, (B) 2BR/2BA, (C) Studio/1BA, and (D) 1BR/1BA - totaling 2,671 sq. ft., each unit features its own private outdoor space, a well-appointed kitchen, ample storage, and high ceilings that enhance the home's historic charm. Steeped in history, the home showcases classic Dade County pine walls, intricate crown molding, original spindles, and timeless Key West architecture. While not currently producing as a high-income property due to its setup for professional housing, it presents an incredible investment opportunity with the right vision. Whether reimagined as a high-yield rental, transformed into a grand single-family residence, or curated as a private compound, the possibilities are endless. With top-rated restaurants, vibrant amenities, and beaches just a stroll or bike ride away, this address delivers the quintessential Key West lifestyle - where history, elegance, and opportunity intersect. Seize this moment. The best of Key West awaits.
Highlights
Home typeSingle Family Residence
StatusActive
Size2,671 sqft
Year built1892
MLS #614330
Summary
- Full Bathrooms: 4
- Appliances: Dishwasher, Dryer, Oven, Refrigerator, Washer
- Interior: Pantry
- Total Bedroom Count: 6
- Architectural Style: Multi-Units
- List Price: $2,300,000
- Price/SqFt: $861
- Annual Tax Amount: $9,840
- Tax Year: 2023
- Year Built: 1892
- Living Area: 2,671 SqFt
- MLS Number: 614330
- MLS Name: KeyWest
- Office Name: Truman & Co. (KW)
- Office Phone: (305) 292-2244
- Listing Agent: Team Kaufelt
The data relating to real estate for sale on this web site comes in part from the IDX Program of Key West Association of REALTORS®, Inc. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2025 Key West Association of REALTORS®, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/13/2025, 8:15:35 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$2,300,000
506 Frances St
$10,000
closing credit¹
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $1,126,357 | $9,840 |
| 2022 | $954,227 | $8,771 |
| 2021 | $780,836 | $8,771 |
History based on county public records data.
Nearby schools
6
Poinciana Elementary School
Public District PK-5
1.9 mi
•1407 Kennedy Dr
2
Gerald Adams Elementary School
Public District PK-5
3.5 mi
•5855 College Rd
9
Big Pine Academy
Public Charter PK-5
28.4 mi
•30220 Overseas Hwy
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $69,729. The most common annual income of people living in Key West, FL is between $35k-100k. Most families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
21%
<35k
45%
35k-100k
28%
100k-200k
6%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
74%
Single, No Kids
4%
Single, with Kids
19%
Married, No Kids
3%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
4%
<11 yrs old
1%
12-17 yrs old
23%
18-34 yrs old
56%
35-64 yrs old
16%
65+ yrs old
What do the neighbors do for fun?
Continuing Education Courses
Symphony or Opera
PGA/LPGA
Where do the neighbors shop?
Express/Express For Men
Chico's
Stein Mart
Where do the neighbors go to eat?
Qdoba
Boston Market
Bonefish Grill
What do the neighbors drive?
Volkswagen
Volvo
Lincoln
What do the neighbors listen to?
Urban Contemporary
Talk/Personality
Classical
All data provided by Home Junction and Claritas
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Frequently asked questions
About 506 Frances St
The listing price of 506 Frances St property is $2,300,000.
The property 506 Frances St is a house located in Key West, Florida, 33040.
Active Listing: 506 Frances St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 506 Frances St are: Poinciana Elementary School (GreatSchools Rating 6/10), Gerald Adams Elementary School (GreatSchools Rating 2/10), Big Pine Academy (GreatSchools Rating 9/10), Horace O'Bryant School (GreatSchools Rating 3/10), May Sands Montessori School (GreatSchools Rating 5/10), Sigsbee Charter School (GreatSchools Rating 7/10), Monroe Virtual Instruction Program (GreatSchools Rating 2/10), Somerset Island Preparatory (GreatSchools Rating 6/10), Key West High School (GreatSchools Rating 5/10).
According to the records, the last property tax for 2023 is $9,840 (source: MLS/based on county public records data).
The property at 506 Frances St has 6 bedrooms and 4 bathrooms.
The property 506 Frances St is 2,671 SqFt (source: MLS/tax record).
The year of construction for 506 Frances St is 1892.
This home is located at 506 Frances St in Key West, FL and zip code 33040. This 2,671 square foot home was built in 1892. Features: 6 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since March 25, 2025 and is currently priced at $2,300,000.
In April 2025, from all listings sold in Key West, FL there were more than 4 sold above asking price, over 40 sold below and more than 8 were sold right at the asked price. Between March and April 2025, Key West, FL real estate market has seen increase in the number of listings by 5.1%. The median list price of listings available in April 2025 was $1,100,000, while the average time on the real estate market was 83 days.
From Rocket Homes Real Estate and based on county public records data.