Under contract-accepting backup offers. Welcome to 511 1st Street, a beautifully updated townhome in the heart of Cedar Key that offers the perfect blend of charm, comfort, and coastal living. This two-bedroom, one-and-a-half-bath home features ceramic tile flooring on the main level and luxury vinyl plank upstairs, along with fresh paint, custom crown molding, and thoughtful design throughout. The kitchen is both functional and stylish, with butcher block countertops, a breakfast bar, open shelving, brand-new stainless steel appliances, and a separate dining area. A half bath, dedicated pantry, and washer/dryer space complete the main floor, while upstairs you'll find both large bedrooms, a full bath with a tub/shower combo and generous vanity, and a spacious primary suite with a large private balcony offering views of the bridge and waterway. Built with block construction, this interior unit is well-insulated and energy efficient, featuring new mini-split AC systems with independent controls for each level, new ductwork, and updated interior stucco. Outside, enjoy a private back patio with a utility sink—ideal for rinsing off after a day on the water or cleaning up from a fishing trip. There’s also convenient storage tucked beneath the stairs. Best of all, this property has NO HOA and No RENTAL RESTRICTIONS , giving you the flexibility to use it as a full-time residence, vacation home, or short-term rental investment. Situated in one of the most walkable locations in Cedar Key, the home is just steps from the beach, Dock Street restaurants, local shops, and the boat ramp—less than a minute away. Whether you're into boating, fishing, kayaking, or birdwatching, Cedar Key offers an easygoing, Old Florida lifestyle surrounded by natural beauty and small-town charm.