The investment case
A finished Keys home at $600 a foot in a $1,000-a-foot market.
Florida law caps Keys construction at roughly ten permits a quarter. So a move-in-ready waterfront home priced below replacement cost isn’t really a purchase — it’s equity you collect at closing.
When the thirteenth home reserves, the $600/sq ft Founders basis is gone — and under ROGO, nothing replaces it.
Reserve yours · (954) 801-767101 · The equity
$800,000 to $1,450,000 in equity. On day one.
The Founders basis is roughly $600 per square foot; comparable Marathon new construction trades at $1,000–$1,175 (Emerald Flats ~$1,000; SeaGlass Cove ~$1,150). That gap — about 1.67× value-to-cost at delivery — is realized at closing, not someday. You aren't betting on appreciation; the discount is the return.
02 · The scarcity
Scarcity here isn't marketing. It's Florida law.
The Rate of Growth Ordinance caps Monroe County to roughly ten market-rate building permits per quarter, county-wide, to hold hurricane-evacuation times under 24 hours. Marlin Bay already holds 84 fully entitled homesites under a Development Agreement recorded with the City of Marathon in February 2024. The permit is the asset — and nobody can build the competition.
03 · The income
~$200,000 a year in gross rental income — legally.
Marathon allows 7-day-minimum vacation rentals, a rare, owner-friendly rule in a county where most areas require 28 days. Managed waterfront homes here report roughly $200,000 in first-year gross rental income, and the thirteen residences already operate inside Marlin Bay's resort rental program — the income stream is running today.
04 · The de-risk
The construction risk was already taken — by the developer.
These homes are built, finished, and closable in about 90 days: no cost overruns, no permitting delays, no waiting years for a shovel. Each is engineered for the Keys with 150+ mph impact glass, steel-reinforced concrete, and an elevated site — the construction class that survived Hurricane Irma at Category 4. The marina, pool, clubhouse, and restaurant are already operating.
Three ways owners use Marlin Bay
One home. Three returns.
For the family
The second home
A low-maintenance, lock-and-leave home inside a finished resort — pool, marina, clubhouse, and restaurant already running. Elevated concrete construction means you leave for the season without worry.
For the investor
The income asset
Keep it in the resort rental program and let Marathon's 7-day-minimum rule work: ~$200K reported first-year gross. Structure it as a 1031 replacement — a finished, closable property that fits the 45/180-day windows.
For the captain
The boater's base
A deep-water slip steps from your door, bridge-free to Florida Bay and minutes to the Gulf Stream. Slips to 70 feet with power, water, and pump-out — homebuyers select first.
The math, plainly
What $945,450 to $1,383,248 of equity means
~$600
per sq ft — your Founders basis
~$1,000
per sq ft — estimated market value
1.67×
value-to-cost at delivery
Read the fine print, plainly: every figure here is an illustrative estimate, not a forecast or a guarantee of value, resale price, appreciation, or return. The equity gap reflects the $600/sq ft reservation basis against an estimated $1,000/sq ft market value drawn from comparable Marathon projects — actual results depend on final specifications, market conditions, and timing. This is not investment, tax, or legal advice; consult your own advisors.
Investors ask
The questions that decide it
Why is Marlin Bay considered a strong real-estate investment?
Three forces stack: built-in equity (reserve at ~$600/sq ft versus $1,000–$1,175/sq ft Marathon comps, roughly $800,000–$1,450,000 below new-market value per home); legal scarcity (Florida's ROGO caps Monroe County to about ten new building permits per quarter, and Marlin Bay's 84 homesites are already fully entitled); and income (Marathon's rare 7-day-minimum vacation-rental rule supports roughly $200,000 in reported first-year gross rental income for managed waterfront homes). The homes are already built, so that value is realized at closing with no construction risk.
Is the built-in equity guaranteed?
No. The equity figure is an illustrative estimate — the difference between the ~$600/sq ft Founders reservation basis and the estimated new-construction market value at ~$1,000/sq ft, based on comparable Marathon projects. It is not a forecast or guarantee of resale price, appreciation, or return. Actual value depends on final specifications, market conditions, and timing. Consult your own advisors.
How does a Marlin Bay home work for a 1031 exchange?
Because the homes are already built and deeded, they can be identified within the 45-day window and closed within the 180-day window of a 1031 exchange — timing that pre-construction typically cannot meet. Qualifying-use rules apply (generally 14+ rental days per year across the first two years). Consult your qualified intermediary and tax advisor.
What is the rental-income potential?
Managed waterfront homes in Marathon have reported roughly $200,000 in first-year gross rental income (paraisovacationrentals.com). Marathon licenses vacation rentals with 7-day minimum stays — far more permissive than the 28-day minimums common elsewhere in Monroe County — and the 13 existing residences already operate inside Marlin Bay's resort rental program.
The window is thirteen homes wide
Call the sales gallery for the current price release and a private walk-through of the residences still available at the Founders basis.
Reserve today · All 13 placed within 90 days · Move-in ready at closing