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About This Home

This 2-bedroom, 3-bathroom condo at 601 W Ocean Drive in Key Colony, FL is listed for $549,000 ($409 per sqft). Built in 1975, the home offers 1,343 sqft of living space on a N/A lot.

Agent Description

Escape to paradise in this spacious townhouse style condominium with stunning beach and ocean views, perfectly positioned at The Cay Condos in the heart of Key Colony Beach. Let the sights and sounds of the Atlantic set the tone for relaxed island living as gentle sea breezes and endless blue horizons become part of your everyday backdrop.

Offering over 1,300 square feet of thoughtfully designed living space with two bedrooms, two and one half bathrooms, this residence provides ample room to entertain, unwind, and create unforgettable memories with family and friends. The open layout is ideal for gathering after a day on the water or enjoying quiet mornings with coffee overlooking the beach.

The Cay is a well established, beachfront community featuring white sandy shoreline, newly refreshed pool completed last year, and on-site management. With a highly desirable 14 day minimum rental policy, this property presents excellent income potential and remains consistently rented throughout the season.

The association is meticulously managed and well funded, plus has completed both the Milestone Inspection and SIRS Reserve Study, offering added confidence for long term ownership. Whether you are seeking a serene retirement retreat, a lock and leave vacation getaway, or a proven investment property, this beachside residence delivers the best of coastal living.

Enjoy an unbeatable location close to dining, marinas, walking and biking paths, and all the amenities that make Key Colony Beach the true gem of the Florida Keys.

Key Features

  • Built in 1975
  • 2 stories
  • Private pool
  • Waterfront

Property Details

2 stories
2 full, 1 half
#410
1975

Amenities

PoolWaterfrontViewA/C

Monthly Cost Estimate

$8,296/mo

20% down · 6.5% · 30 years

Principal$397
Interest$2,379
Insurance$160
HOA$5,360

Estimates only. Actual payments may vary.

Location

601 W Ocean Drive

Key Colony, FL 33051

Cay Condo (53.5)

Features & Amenities

Exterior Features

Chickee HutOutdoor ShowerSandy Beach

Property Details

Flooring

CarpetTile

Construction

CBS

Views

Ocean

Pool Features

Porch

Cooling

Central Air

Appliances

WasherDryerDishwasherRefrigeratorRangeOvenMicrowave

Questions & Answers

This 2-bedroom, 3-bathroom condo at 601 W Ocean Drive is listed at $549,000 ($409/sqft). The estimated monthly payment is $7,739 based on 20% down at 6.5% interest.

HOA fees are $5360/month.

Key features include: Built in 1975, 2 stories, Private pool, Waterfront. Exterior Features: Chickee Hut, Outdoor Shower, Sandy Beach.

This property is listed by Karen D Raspe and can be reached at 3053939010 or karenraspe@bellsouth.net.

KR

Karen D Raspe

Agent at Ocean Sotheby's International

(305) 393-9010

Listed by Ocean Sotheby's International · View on Broker Site

MLS# 618507· Source: listhub· Updated 115 days ago

Copyright © 2026 Marathon and Lower Keys Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

601 W Ocean Drive, Key Colony, FL 33051

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