My wife and I drove to Key West on impulse (we were in Miami) and had no hotel room booked. We spent the afternoon on Duval St and didn't want to move our car, so looked for a hotel on Duval. We found the Pegasus. The hotel was sold out, save for one room, which the desk clerk showed to us before renting it to us. We assume this room was at one time a manager's apartment. It was a small room with one double bed but it served our purposes.
After walking Duval St for a few more hours, we came back to take a swim. The pool/deck area is very nice in appearance. While we were floating around in the pool, however, we saw a rat run across the deck. Yuck. And if there was any chance we were wrong about it being a rat, we were able to confirm it a bit later when the rat (I hope it was the same one) came back across the deck and climbed the lattice. I gotta say, it was pretty difficult to leave the pool and go back to our room and sleep comfortably after seeing a rat.
We reported the rat to the girl at the front desk, but she didn't seem real interested.
So, as far as the title I gave this review, if you're looking for location (and the deck area does look over Duval St), this hotel is a good choice. But if you're more concerned about sanitary room conditions, I suggest you look elsewhere.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.