- 3 beds
- 3 baths
- 1,224 sqft
- $587 per sqft
- 1984 build
- – on site
Discover a rare investment opportunity in the heart of the Florida Keys with this beautifully upgraded 3-bedroom, 3-bath unit at The Reef in Marathon. Set against the tranquil backdrop of the bay with direct access to the Gulf of Mexico, this versatile property is ideal for investors and island dreamers alike.Designed with flexibility in mind, this unique unit allows for a variety of rental configurations--including vacation rentals, long-term leases, or even keeping a portion for personal use while generating income from the rest. With 7-day rentals permitted, the possibilities are endless.Inside, you'll find thoughtful, high-end finishes throughout, including rich wood cabinetry, granite countertops, stained concrete floors with tile base, and completely renovated bathrooms featuring large walk-in showers. Every detail has been updated to offer comfort, durability, and coastal style.The Reef is a sought-after waterfront community offering resort-style amenities, including a large saltwater pool, tennis courts, and a spacious marina with boat slips available by reservation. Guests and owners enjoy access to bicycles, paddle boats, and paddleboards, as well as convenient parking for boat trailers during their stay.This is more than a vacation home--it's a lifestyle and an income-producing asset, all in one of the most desirable locations in the Florida Keys. Don't miss your chance to own a piece of paradise.
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Last updated Jun 1, 2025
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MLS# 615279 —
Monthly cost estimate

Asking price
$719,000
Expense | Monthly cost |
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Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$3,850
|
Taxes | $266 |
Insurance | $197 |
Utilities | $138 See report |
Total | $4,451/mo.* |
*This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
Date | Event | Source | Price | % Change |
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6/1/25
Jun 1, 2025
|
Listed / Active | FLKMLS | $719,000 |