247 Bay Drive – A Surprisingly Strong Value in Key Largo
I regularly write about my active listings, but this one continues to surprise me. After several showings where I genuinely expected an offer to follow, 247 Bay Drive is still available — and it’s worth a closer look.
The main house is a 3-bedroom, 2-bathroom concrete block home, all on one level, in clean condition and located on a quiet, fully fenced property. That alone would be hard to find for under $650,000 in today’s market — especially with an X flood zone. But this property also includes a detached concrete garage with a 1-bedroom, 1-bath guest apartment above, all on four combined lots totaling approximately 10,000 square feet.
The Sum of the Parts
In addition to the main home, you get an oversized lot with street-to-street access, two separate driveways, and mature landscaping. The guest quarters are fully enclosed above the detached garage, providing flexible space for extended family, guests, or even a private office or rental setup.
If you break it down:
- Clean 3/2 CBS home in the X-zone – realistically $650,000 on its own
- Detached garage with upper-level guest suite – worth at least the additional $224,000
- Four lots = extra land, privacy, flexibility
It’s difficult to find this combination of features anywhere else in Key Largo at this price point - here are all non-waterfront homes for sale in Key Largo for comparison.
Video Highlights
🎥 Check out the full video tour here:
Features At a Glance
- 3 Bedrooms / 2 Baths (Main House)
- 1 Bedroom / 1 Bath (Guest Suite)
- Detached Garage
- Approx. 10,000 sq ft of land (4 X-zone lots)
- CBS construction throughout
- Enclosed patio off the primary bedroom
- Fully fenced with two gated entrances
- Convenient to shops and restaurants
Why It Hasn’t Sold Yet
Honestly, I’m not sure. The property shows well. It’s solid, clean, and priced fairly when you consider the full picture. I’ve had multiple showings where I expected things to move forward, but for one reason or another — timing, financing, shifting priorities — no reasonable offer has come through yet.
This could be a great fit for someone who wants flexibility, space, and value in a part of Key Largo where it’s getting harder and harder to find it.
Want to Take a Look?
Feel free to reach out with questions, request additional details, or schedule a private showing.
📞 Jim Signor – Local Real Estate Professional Since 1988
🔗 Contact Jim