Seller's Agent in 2019
Lauren Waesche
Century 21 New Horizon
(443) 910-0028
22 in this area
40 Total Sales
Rainbow Condominiums 11200 Coastal Hwy Ocean City, MD 21842
Estimated Value: $689,000 - $764,000
2
Beds
2
Baths
1,372
Sq Ft
$591/mo
HOA Fee
Highlights
- Ocean View
- Water Oriented
- Community Pool
- Ocean City Elementary School Rated A
- Waterfront
- 4-minute walk to Jamestown Park
About This Home
As of April 2019When you step into the Rainbow Condominium, you almost forget you're in a bustling beach town. One of Ocean City's smallest high rises, the Rainbow is well-known for being a peaceful retreat nestled in North OC, complete with a bi-level oceanfront sundeck supporting outdoor swimming & kiddie pools. This spacious 2 bedroom, 2 bathroom condo comes fully furnished and features a large, enclosed den that can be used as a third sleeping area. Spanning over 1,370 square feet, the Rainbow Condominium units were designed to accommodate a comfortable and luxurious beach lifestyle so you can be just as relaxed inside your condo as you are laying poolside or on the beach. Enjoy beautiful views of the ocean from your balcony, and drift off to sleep at night listening to the waves crashing on the beach. Excellent rental history with a combined income from 2018-2019 of over $50K! Comes with 2 assigned parking spaces. Don't miss your chance to own a treasured gem in the Rainbow! Seller is offering Buyer a Home Warranty.
Last Buyer's Agent
Eric Green
Coldwell Banker Residential Brokerage License #MRIS:3223851
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $5,129
Year Built
- Built in 1984
Lot Details
- Waterfront
HOA Fees
- $591 Monthly HOA Fees
Parking
- Parking Lot
Home Design
- Built-Up Roof
- Dryvit Stucco
Interior Spaces
- 1,372 Sq Ft Home
- Property has 1 Level
- Den
- Ocean Views
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Outdoor Features
- Water Oriented
- Property is near an ocean
Schools
- Ocean City Elementary School
- Berlin Middle School
- Stephen Decatur High School
Utilities
- Central Air
- Heat Pump System
- Municipal Trash
Listing and Financial Details
- Home warranty included in the sale of the property
- Property is used as a vacation rental
- Tax Lot 4308A
- Assessor Parcel Number 10-260825
Community Details
Overview
- High-Rise Condominium
- Rainbow Community
Recreation
- Community Pool
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 7, 2024
Sold by
Myers Lucinda R and Myers Richard L
Bought by
Richard And Lucinda Myers Trust and Myers
Current Estimated Value
Purchase Details
Listed on
Mar 4, 2019
Closed on
Apr 26, 2019
Sold by
Billups Ramsey and Billups Cassandra Y
Bought by
Myers Lucinda R and Myers Richard L
Seller's Agent
Lauren Waesche
Century 21 New Horizon
Buyer's Agent
Eric Green
Coldwell Banker Residential Brokerage
List Price
$445,000
Sold Price
$432,500
Premium/Discount to List
-$12,500
-2.81%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.36%
Original Mortgage
$232,500
Interest Rate
6.35%
Mortgage Type
Adjustable Rate Mortgage/ARM
Purchase Details
Closed on
Aug 16, 2013
Sold by
Lusby Kevin and Lusby Claudia
Bought by
Billups Ramsey and Billups Cassandra Y
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$303,750
Interest Rate
4.51%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 23, 2006
Sold by
Krol Anthony J and Milrod Alice N
Bought by
Kevin Lusby and Lusby Claudia
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$492,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Mar 15, 2006
Sold by
Krol Anthony J and Milrod Alice N
Bought by
Kevin Lusby and Lusby Claudia
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$492,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Sep 19, 1984
Sold by
The Patt Organization Inc
Bought by
Gardiner Francis E and Gardiner Mildred W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,600
Interest Rate
14.43%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Richard And Lucinda Myers Trust | -- | None Listed On Document | |
| Myers Lucinda R | $432,500 | Mid Atlantic Setmnt Svcs Llc | |
| Billups Ramsey | $405,000 | Jdm Title Llc | |
| Kevin Lusby | $615,000 | -- | |
| Kevin Lusby | $615,000 | -- | |
| Gardiner Francis E | $137,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Myers Lucinda R | $231,000 | |
| Previous Owner | Myers Lucinda R | $237,470 | |
| Previous Owner | Myers Lucinda R | $232,500 | |
| Previous Owner | Billups Ramsey | $303,750 | |
| Previous Owner | Lusby W Kevin | $417,000 | |
| Previous Owner | Kevin Lusby | $492,000 | |
| Previous Owner | Kevin Lusby | $492,000 | |
| Previous Owner | Gardiner Francis E | $109,600 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/26/2019 04/26/19 | Sold | $432,500 | -2.8% | $315 / Sq Ft |
| 04/02/2019 04/02/19 | For Sale | $445,000 | 0.0% | $324 / Sq Ft |
| 03/27/2019 03/27/19 | Pending | -- | -- | -- |
| 03/04/2019 03/04/19 | For Sale | $445,000 | -- | $324 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
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 | $6,024 | $476,500 | $0 | $0 |
| 2024 | $6,024 | $431,700 | $0 | $0 |
| 2023 | $5,437 | $386,900 | $270,800 | $116,100 |
| 2022 | $5,341 | $380,033 | $0 | $0 |
| 2021 | $5,273 | $373,167 | $0 | $0 |
| 2020 | $5,175 | $366,300 | $256,400 | $109,900 |
| 2019 | $5,165 | $363,100 | $0 | $0 |
| 2018 | $5,069 | $359,900 | $0 | $0 |
| 2017 | $5,064 | $356,700 | $0 | $0 |
| 2016 | -- | $356,700 | $0 | $0 |
| 2015 | $4,758 | $356,700 | $0 | $0 |
| 2014 | $4,758 | $356,700 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Lauren Waesche
-
E
Buyer's Agent in 2019
Eric Green
Coldwell Banker Residential Brokerage
About Rainbow Condominiums
Map
Source: Bright MLS
MLS Number: MDWO103990
APN: 10-260825
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