87851 Old Highway # M5, Islamorada FL 33036, ISLAMORADA, FL, 33036
Active116 days on marketListed Apr 15, 2026MLS #B26016320
About this home
87851 Old Highway # M5, Islamorada FL 33036
A New Standard of Paradise - Live with views of the Atlantic Ocean everyday. This home has been updated and beautified from top to bottom. Marble flooring throughout living areas. Eat in kitchen offers large island, snack counter and full size wine cooler. Dishwasher installed 12/25. There is also a hot water dispenser. Dining area and living area open to enclosed patio with private spiral staircase leading to resort styled amenities. Impact glass on all windows. Primary bedroom offers more spectacular views, built in furnishings and is 14x14. Modification in primary bathroom leads to large walk in closet. Washer replaced 2025, dryer 2024, AC 2021. Building inspections complete with no pending assessments. Private Marina dredged 2025. Outside storage cage included. RARE covered parking. Enjoy resort style pool, hot tub, tennis, pickleball, nature trails, gazebos, boat ramp, clubhouse with fitness, pavilion with ice machine, docks rentable for up to 30ft boat (almost always available), tiki huts, electric vehicle chargers, guest parking, open lot for boat storage, and private marina. Chandelier in dining area excluded. Beach area overlooks marina. Owner agent.
Facts & features
The home at a glance
2
Bedrooms
2
Bathrooms
1,732
Sqft
0 ac
Lot size
1989
Year built
1
Levels
$751
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$10,215 /mo · 10% down Conventional, 30-yr fixed at 6%
The assumptions
Above the FHA loan limit for our service areas, so Conventional is the default. VA buyers: switch below — $0 down.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
FHA isn’t available at this price — the loan would exceed the $541,287 FHA limit for our service areas.
Estimated payment
$10,215/mo
Includes estimated PMI — it drops off once you reach 20% equity. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs Islamorada actives
$751 vs $1,593
Days on market
116 vs 83 typical
Where $751/sqft sits among the 20 Islamorada actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Plantation Key
Get to know Islamorada. See the full Islamorada guide →
Plantation Key — neighborhood snapshot
Population
4,945
Median age
54
Median income
$66,425
Median home value
$857,007
Avg household
2
Households w/ children
367
For the school run
Monroe County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Islamorada market
$2.9M → $1.5M
Islamorada median sold, yr/yr
89.9%
Sale-to-list ratio (12 mo)
1 of 20
Islamorada actives have cut their price
This home is listed 8% below the ISLAMORADA 33036 median. See the full Islamorada market guide →
Paper trail
This home's history
Reality check
What actually sold near 87851 Old Highway # M5
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Jun ’26$1,065,000
87851 Old Hwy # M24, Islamorada FL 33036 · same community
2 bd · 2 ba · 1,736 sqft · $613/sqft · 147 DOM
Sold · Jun ’26$900,000
Nearby listing
3 bd · 2 ba · 1,842 sqft · $489/sqft
Sold · Nov ’25$710,000
155 Iroquois St, Tavernier FL 33070
3 bd · 2 ba · 1,380 sqft · $514/sqft · 5 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 87851 Old Highway # M5 — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 87851 Old Highway # M5 — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
87851 Old Highway # M5 FAQs
What would the monthly payment be for 87851 Old Highway # M5, Islamorada FL 33036?+
With 10% down on a 30-year Conventional loan at 6%, the all-in payment lands around $10,215/mo — principal and interest, the actual property-tax bill, the $1,764/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 87851 Old Highway # M5, Islamorada FL 33036?+
The association fee works out to $1,764 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 87851 Old Highway # M5, Islamorada FL 33036?+
The most recent tax bill on record (2025) was $9,470. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 87851 Old Highway # M5, Islamorada FL 33036?+
The listing reports pets: Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Islamorada?+
At $1,300,000, this home is listed about 64% below the Islamorada median of $3,595,000. The market section on this page shows how the area is trending.
Which schools are assigned to 87851 Old Highway # M5, Islamorada FL 33036?+
Coral Shores High School (high) — Monroe County School District. Always verify school assignments with the district before relying on them.
The brief
Three things that matter here
01Under the ISLAMORADA 33036 market on paper
$1,300,000 is 8% below the ISLAMORADA 33036 median of $1,412,500, and at $751/sqft it sits under the Islamorada average of $1,741.
02Waterfront living
This home sits directly on the water — the single scarcest feature in Florida inventory and the strongest long-term value anchor.
03Know the monthly fee
The association fee is $1,764/mo. That usually buys real services — verify what's covered before comparing this home against fee-free alternatives.
Keep looking
Similar homes nearby
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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