$240,000
About this home
This Cedar Key property presents a rare opportunity for buyers looking to rebuild or reimagine a coastal home in one of Florida’s most unique waterfront communities. Previously impacted by storm damage, the property is now positioned for potential repair or reconstruction under current FEMA and local guidelines. Based on guidance from local officials, rebuilding may be possible depending on the scope of work and overall project cost relative to the structure’s pre-storm value. This creates a unique opportunity for buyers to design and execute a project that fits within those parameters—whether restoring the existing footprint or creating a thoughtfully updated coastal retreat. The value calculation is based on the structure only (excluding land), giving buyers a clear framework to explore renovation or rebuilding options. Due to FEMA regulations and the 50% rule, buyers are encouraged to work with the City of Cedar Key, contractors, and design professionals to fully understand allowable improvements, elevation requirements, and permitting options. If you’ve been looking for a project with flexibility, upside, and the ability to create something truly your own, this is an opportunity worth exploring.
Highlights
Property details
- MLS
- Stellar MLS
- MLS #
- MFRGC539563
- Property type
- Single Family Residence
- Subdivision
- SOUTH FOWLERWAY
- Status
- Active
- Days on market
- 60
- On market date
- April 24, 2026
- Stories
- N/A
- Total bathrooms
- 2
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.22 acres
Location
Get directions →Walkability
Blended score for CEDAR KEY's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in CEDAR KEY, from live MLS data.
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Data source: Listing information provided by Stellar MLS (mfrmls) via Trestle/CoreLogic. Last updated June 23, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.