# 550 1st St, Cedar Key, FL 32625

> **TL;DR:** 1bd/1ba condo, $289,000 ($516/sqft), built 1982, 560 sqft.
> Pool, Fireplace, Waterfront. Est. $3,060/mo. Listed 32 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $289,000 |
| Price/sqft | $516 |
| Bedrooms | 1 |
| Bathrooms | 1 full |
| Square Feet | 560 |
| Year Built | 1982 |
| Property Type | Condo (Condominium) |
| Status | For Sale |
| Days on Market | 32 |

## Why This Home Stands Out

- **Pool** - Deck, Patio
- **Waterfront** - Direct water access

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,252 |
| HOA | $1,808 |
| **Total** | **$3,060** |

## Key Amenities

- Pool
- Fireplace
- Waterfront

## Property Highlights

- Built in 1982
- Private pool
- Fireplace
- Waterfront

## Description

### Agent Description
Perched along the shimmering shoreline of Cedar Key, this gulf-front condominium delivers what discerning coastal buyers seek but rarely find: unobstructed, panoramic water views paired with true walkability to the heart of town. From morning light dancing across the Gulf to painted sunset skies, every moment on Cedar Key is framed by open water and the easy rhythm of island living. Positioned in what many consider the premier location on the island, this residence places you just steps from local dining, shopping, and the vibrant waterfront-yet feels worlds away with its elevated vantage point and sweeping views of birds and water. A dedicated parking space and golf-cart-friendly access ensure effortless movement from your front door to everything Cedar Key has to offer. Thoughtfully elevated for peace of mind, the property is undergoing a comprehensive restoration scheduled for completion in August 2026. The result will be essentially new construction within an established, high-demand complex: fresh drywall, a fully redesigned kitchen with granite counters, new appliances, updated flooring, modern paint finishes, and a reimagined bath-all complemented by curated, high-quality coastal furnishings. A new HVAC system and in-unit washer and dryer add practical comfort to the refined aesthet?ic. If you hurry, you can select colors and other options! Beyond the residence, the community itself is being revitalized, highlighted by what is widely regarded as the best pool in town-set gulf-side for uninterrupted water views-and surrounded by refreshed landscaping that enhances both privacy and curb appeal. For investors, the opportunity is equally compelling: a proven, high-performing rental property with no usage restrictions, offering immediate income potential upon completion. A superior ROI means years of a high producing unit in your portfolio. For end users, it's a turnkey coastal retreat or full-time residence where every detail has been addressed. Island Place 112 is a fully reimagined gulf-front condominium in one of Florida's most authentic waterfront communities. Come imagine the possibilities! Pictures indicate current condition as well as some pictures from prior to Sept 2024 to show how it can look when completed. Buyer may be able to select colors and options, depending on timing.

## Location

- **Address:** 550 1st St, Cedar Key, FL 32625
- **County:** Levy
- **Neighborhood:** The Island Place at Cedar Key
- **Coordinates:** 29.13538086, -83.0318797
- **Google Maps:** https://www.google.com/maps?q=29.13538086,-83.0318797

## Listing Agent

- **Name:** Melinda Allen
- **Brokerage:** Pelican Realty
- **Phone:** 3522228585
- **Email:** mendy.pelican@gmail.com

## Primary Photo

![550 1st St - Primary Photo](http://lh.rdcpix.com/d0b262f5c6424c562ecc6131f54c9770l-f374509945r.jpg)

*22 total photos available on [listing page](https://www.propertysimple.com/listing/550-1st-st-cedar-key-fl-32625-l799134)*

---

**MLS#:** 799134 | **Updated:** 2026-06-17
**Source:** listhub

*Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/550-1st-st-cedar-key-fl-32625-l799134)

---

## Structured Data

```json
{
  "@context": "https://schema.org",
  "@type": "RealEstateListing",
  "name": "550 1st St, Cedar Key, FL 32625",
  "description": "Perched along the shimmering shoreline of Cedar Key, this gulf-front condominium delivers what discerning coastal buyers seek but rarely find: unobstructed, panoramic water views paired with true walkability to the heart of town. From morning light dancing across the Gulf to painted sunset skies, every moment on Cedar Key is framed by open water and the easy rhythm of island living. Positioned in what many consider the premier location on the island, this residence places you just steps from loc",
  "url": "https://www.propertysimple.com/listing/550-1st-st-cedar-key-fl-32625-l799134",
  "image": "http://lh.rdcpix.com/d0b262f5c6424c562ecc6131f54c9770l-f374509945r.jpg",
  "datePosted": "2026-06-17",
  "price": 289000,
  "priceCurrency": "USD",
  "address": {
    "@type": "PostalAddress",
    "streetAddress": "550 1st St",
    "addressLocality": "Cedar Key",
    "addressRegion": "FL",
    "postalCode": "32625",
    "addressCountry": "US"
  },
  "geo": {
    "@type": "GeoCoordinates",
    "latitude": 29.13538086,
    "longitude": -83.0318797
  },
  "numberOfBedrooms": 1,
  "numberOfBathroomsTotal": 1,
  "numberOfFullBathrooms": 1,
  "floorSize": {
    "@type": "QuantitativeValue",
    "value": 560,
    "unitCode": "FTK"
  },
  "yearBuilt": 1982
}
```