Discovering Paradise: Waterfront Homes in Marathon, FL

Thinking about purchasing a waterfront home in Marathon, Florida? Wondering what waterfront homes in Marathon, FL list and sell for?

Well, you’re in the right place! We’ve got you covered. In this guide, we’ll delve into recent waterfront home prices in Marathon. Plus, we’ll touch on additional expenses such as insurance and taxes.

So, buckle up and let’s dive into your potential waterfront living adventure!

The Allure of  Waterfront Homes in Marathon, FL

Marathon, FL, is known for its excellent water access. The island has two main pathways to the ocean and the Gulf: the Vaca Cut and the Seven Mile Bridge. There are also many lovely waterfront canals with plenty of waterfront homes to choose from.

This charm has attracted homebuyers looking for a piece of waterfront paradise, leading to a growing demand for these properties over the years. Moreover, since Marathon, FL, allows weekly rentals, it has become a popular spot for real estate investments in the Florida Keys

Factors Influencing Waterfront Home Prices

The price of waterfront homes in Marathon, FL, can vary significantly due to several key factors. Firstly, the location is a major factor, with oceanfront and bayfront properties generally costing more due to their stunning views and immediate water access. Secondly, the size of the waterfront lot plays a significant role, with larger lots often coming with a higher price.

Additionally, homes with extra amenities like boat docks, pools, and outdoor spaces tend to be pricier.  The property type also effects the price of a home. Lastly, the property’s condition and any recent upgrades can also impact its value. It’s important to note that the cost of a waterfront property can have a considerable range depending on these factors.

Average Price Range for Waterfront Homes in Marathon

Single Family Homes

If you are looking to get into a single family waterfront home, the cost of admission is going to be around $1,000,000 and up. 

The current average cost of a waterfront single-family home in Marathon, FL, stands at approximately $3,074,764.

On the lower end of the spectrum, there are smaller, older ground-level homes. As you move up in price, you’ll encounter stilted homes, and at the top end, you’ll discover larger, newly constructed homes.

Half Duplexes

If you’re thinking of going for a half duplex on the water in Marathon, FL, and want to keep some extra cash in your pocket, you’ll need at least $700,000 to dip your toes into the waters of waterfront living. That should snag you a cozy, smaller half duplex. But, if you’re ready to make a splash and go bigger, be prepared to ride the wave up to a cool $1.6 million for a spacious waterfront half duplex.

Full Duplexes

Full waterfront duplexes in Marathon, FL, are a rare find. If you come across one, you might encounter a ground-level fixer-upper starting at around $950,000. On the other hand, if you’re looking for a fully remodeled duplex in a fantastic location with stunning views, you could be looking at an investment of approximately $1.8 million.

Condos / Townhomes

Condos and townhomes make for a great option when seeking a waterfront home in Marathon, FL. They often offer a more budget-friendly entry into waterfront living. For a cozy one-bedroom, one-bathroom condo, you can expect to invest around $380,000.

If you’re looking for a bit more space with a two-bedroom, two-bathroom unit, prices typically start at around $600,000 and go up from there.

For those in search of a spacious three-bedroom, three-bathroom condo, the range is approximately $875,000 and beyond.

As of now, the range for condos/ townhomes available in Marathon varies from $380,000 to $1,699,000!  So you do have options!

Mobile Homes

Mobile homes offer an affordable option for waterfront living in Marathon, FL. However, with ongoing development and building restrictions, their availability is decreasing as they make way for new homes.

For now, you can typically find a waterfront mobile home starting at around $300,000. If you desire a mobile home on a larger lot with extended water frontage, you might find yourself investing around $900,000.

Taxes and Insurance

When it comes to homeownership, one unavoidable expense is property taxes, and let’s face it, no one enjoys paying taxes. However, here’s a silver lining – in Monroe County, you’ll find some of the lowest property taxes in all of Florida, hovering just below 1 percent of your property’s value. As a handy rule of thumb, you can estimate your property taxes by using 1 percent of the purchase price.

Now, onto insurance, another important consideration when buying a home in Marathon, FL. If you’re financing your home with a mortgage, you’ll need to secure Flood, Wind, and Homeowners insurance. The cost of these policies can vary based on the specific property you purchase. To get the most accurate insurance quotes, your best bet is to have a chat with a local insurance agent who can tailor coverage to your needs and property.

Conclusion

In conclusion, Marathon, FL, offers diverse waterfront properties to fit various budgets. Pricing varies based on location, size, amenities, and condition. Don’t forget to consider insurance and property taxes, with Monroe County having low tax rates.

For those dreaming of waterfront homes for sale in Marathon, FL, partnering with local experts is key. With its stunning water access, Marathon is your gateway to waterfront living. Dive into condo life, explore single-family homes, or embrace mobile home charm—the choice is yours in Marathon’s waterfront paradise.

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Did you find your dream home for sale in Marathon, FL?  – Then be sure to head on over to our Buying Page, where we answer some of the most common questions buyers have! 

Ready to sell your waterfront home in Marathon, FL? Contact us today for expert guidance and pricing information.

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

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