NOT LISTED FOR SALE

Rainbow Condominiums 11200 Coastal Hwy Unit 301 Ocean City, MD 21842

Estimated Value: $822,000 - $924,000

3 Beds
2 Baths
1,538 Sq Ft
$621/mo HOA Fee

Last Sold May 27, 2022

Last sale price $800,000 $520 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $6,023/month

4 Days on Market

Highlights

  • 250 Feet of Waterfront
  • Ocean View
  • Furnished
  • Ocean City Elementary School Rated A
  • Public Beach
  • 4-minute walk to Jamestown Park

About This Home

As of May 2022

This beautiful 3 bedroom 2 bath direct oceanfront condo will not last long! This unit comes furnished making move in easy! The Rainbow is in close proximity of restaurants, shops, grocery stores, mini golf and much more! The beach is only steps away and the community pool is on the bottom level of the building. Your balcony expands from one end of the unit to the other, letting the primary bedroom have a spectacular view of the Ocean. Unit offers an open floor plan with a spacious kitchen and ready for memories to be made at this beach getaway!

Last Agent to Sell the Property

Joseph Wilson

Coastal Life Realty Group LLC License #633148 Listed on: 05/06/2022

Last Buyer's Agent

Jim Terrill

RE/MAX One License #594201

RE/MAX One

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $7,425

Year Built

  • Built in 1984

Lot Details

  • 250 Feet of Waterfront
  • Ocean Front
  • Home fronts navigable water
  • Public Beach

HOA Fees

  • $621 Monthly HOA Fees

Home Design

  • Masonry

Interior Spaces

  • 1,538 Sq Ft Home
  • Property has 1 Level
  • Furnished
  • Ocean Views

Kitchen

  • Stove
  • Built-In Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry in unit
  • Washer and Dryer Hookup

Parking

  • Parking Lot
  • 2 Assigned Parking Spaces

Outdoor Features

  • Water Access
  • Property is near an ocean

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Municipal Trash

Additional Features

  • Accessible Elevator Installed
  • Flood Risk

Listing and Financial Details

  • Tax Lot 301
  • Assessor Parcel Number 2410260477

Community Details

Overview

  • Association fees include insurance, reserve funds, management, pool(s)
  • High-Rise Condominium
  • Rainbow Community
  • Property Manager

Recreation

  • Community Pool

Pet Policy

  • Pets allowed on a case-by-case basis

Property Details

Home Type

Condominium

Est. Annual Taxes

$7,425

Year Built

Built in 1984

Lot Details

0

HOA Fees

$621 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Hi-Rise 9+ Floors
  • Architectural Style: Unit/Flat
  • Accessibility Features: Elevator
  • Ownership: Fee Simple
  • Exclusions: Please see Exclusions List
  • Home Warranty: No
  • Inclusions: Furnished
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2022-05-06
  • Federal Flood Zone: Yes
  • Year Built: 1984
  • Automatically Close On Close Date: No
  • Remarks Public: This beautiful 3 bedroom 2 bath direct oceanfront condo will not last long! This unit comes furnished making move in easy! The Rainbow is in close proximity of restaurants, shops, grocery stores, mini golf and much more! The beach is only steps away and the community pool is on the bottom level of the building. Your balcony expands from one end of the unit to the other, letting the primary bedroom have a spectacular view of the Ocean. Unit offers an open floor plan with a spacious kitchen and ready for memories to be made at this beach getaway!
  • Washer Dryer Hookups YN: Yes
  • Special Features: VirtualTour
  • Property Sub Type: Condos

Interior Features

  • Appliances: Built-In Microwave, Dishwasher, Stove, Refrigerator
  • Entry Floor: 3
  • Fireplace: No
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Total Sq Ft: 1538
  • Living Area Sq Ft: 1538
  • Price Per Sq Ft: 536.41
  • Above Grade Finished Sq Ft: 1538
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 11200

Beds/Baths

  • Bedrooms: 3
  • Main Level Bedrooms: 3
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Main Level Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • View: Ocean
  • Water Access Features: Public Beach
  • Water Access: Yes
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: Yes - Community
  • Water View: Yes
  • Water Frontage In Feet: 250

Garage/Parking

  • Assigned Spaces Count: 2
  • Garage: No
  • Parking Features: Assigned
  • Type Of Parking: Parking Lot

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 7449.84
  • Condo Co-Op Fee Frequency: Annually
  • HOA Condo Co-Op Amenities: Pool - Outdoor
  • HOA Condo Co-Op Fee Includes: Insurance, Reserve Funds, Management, Pool(s)
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Schools

  • School District: WORCESTER COUNTY PUBLIC SCHOOLS
  • School District Key: 121138066543
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Use Code: U
  • Lot Dimensions: 0.00 x 0.00
  • Year Assessed: 2022
  • Zoning: R-3
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Lease Considered: No
  • Pets: Case By Case Basis
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5419065
  • Tax Annual Amount: 7425.00
  • Assessor Parcel Number: 2410260477
  • Tax Lot: 301
  • Tax Total Finished Sq Ft: 1538
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2022
  • Close Date: 05/27/2022

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 6, 2022
Closed on
May 27, 2022
Sold by
Inscoe Thomas A
Bought by
Jalbert Evan N and Jalbert Gina L
Seller's Agent
Joseph Wilson
Coastal Life Realty Group LLC
Buyer's Agent
Jim Terrill
RE/MAX One
List Price
$825,000
Sold Price
$800,000
Premium/Discount to List
-$25,000
-3.03%
Current Estimated Value
$872,834

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$72,834
Avg. Annual Appreciation
2.96%

Purchase Details

Closed on
May 4, 2011
Sold by
Richard W Malone Testamentary
Bought by
Inscoe Thomas A and Inscoe Mary L

Purchase Details

Closed on
Apr 29, 2011
Sold by
Richard W Malone Testamentary
Bought by
Inscoe Thomas A and Inscoe Mary L

Purchase Details

Closed on
Jan 31, 2008
Sold by
Malone Richard W and Malone Dana L
Bought by
Testamentary Richard W Malone Jr and Trust Dale S Dutton Trustee

Purchase Details

Closed on
Jan 8, 2008
Sold by
Malone Richard W and Malone Dana L
Bought by
Testamentary Richard W Malone Jr and Trust Dale S Dutton Trustee

Purchase Details

Closed on
Jan 3, 1995
Sold by
Define William T and Define Caroline F
Bought by
Malone Richard W and Malone Dana L
Source: Public Records

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Jalbert Evan N $800,000 None Listed On Document
Inscoe Thomas A $525,000 --
Inscoe Thomas A $525,000 --
Inscoe Thomas A $525,000 --
Inscoe Thomas A $525,000 --
Testamentary Richard W Malone Jr -- --
Testamentary Richard W Malone Jr -- --
Malone Richard W $183,000 --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/27/2022 05/27/22 Sold $800,000 -3.0% $520 / Sq Ft
05/06/2022 05/06/22 For Sale $825,000 -- $536 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,761 $566,433 $0 $0
2024 $7,761 $556,167 $0 $0
2023 $7,672 $545,900 $382,100 $163,800
2022 $7,528 $535,667 $0 $0
2021 $7,425 $525,433 $0 $0
2020 $7,104 $515,200 $360,600 $154,600
2019 $7,125 $500,833 $0 $0
2018 $6,852 $486,467 $0 $0
2017 $6,702 $472,100 $0 $0
2016 -- $472,100 $0 $0
2015 $6,698 $472,100 $0 $0
2014 $6,698 $472,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Joseph Wilson

    Seller's Agent in 2022

    Joseph Wilson

    Coastal Life Realty Group LLC

    (443) 235-8382

    178 in this area

    268 Total Sales

    Joseph Wilson
    Section Image
  • Jim Terrill

    Buyer's Agent in 2022

    Jim Terrill

    RE/MAX One

    (443) 880-2421

    35 in this area

    114 Total Sales

    Jim Terrill
    Section Image

  • J

    Buyer's Agent in 2022

    James Terrill

    RE/MAX

    (410) 535-6291

    9 in this area

    32 Total Sales

    James Terrill
    Section Image
See All Agents

About Rainbow Condominiums

Map

Source: Bright MLS

MLS Number: MDWO2007532

Bright MLS

APN: 10-260477

Maryland Worcester County Ocean City 21842

11200 Coastal Hwy Unit 301, Ocean City, MD

This home is located at 11200 Coastal Hwy Unit 301, Ocean City, MD 21842 since 06 May 2022 and is currently estimated at $872,834, approximately $567 per square foot. This property was built in 1984. 11200 Coastal Hwy Unit 301 is a home located in Worcester County with nearby schools including Ocean City Elementary School, Stephen Decatur Middle School, and Berlin Intermediate School.

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