NOT LISTED FOR SALE

Rainbow Condominiums 11200 Coastal Hwy Ocean City, MD 21842

Estimated Value: $416,000 - $497,000

1 Bed
1 Bath
990 Sq Ft
$423/mo HOA Fee

Last Sold April 26, 2024

Last sale price $455,000 $460 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $3,255/month

3 Days on Market

Highlights

  • Ocean Front
  • Furnished
  • 2 Elevators
  • Ocean City Elementary School Rated A
  • Community Pool
  • 4-minute walk to Jamestown Park

About This Home

As of April 2024

Do not miss your opportunity to own this meticulously maintained oversized 1 bed 1 bath Oceanfront end unit in the rarely available Rainbow building. This unit boasts not one, but 2 private balconies. Enjoy your coffee and beautiful sunrises on your very own ocean front balcony and in the evenings you can relax with a cocktail and serene sunsets on your west facing balcony with direct bay views. Immerse yourself in luxury with a spacious bedroom, a well appointed bathroom, and sunlit living area. Unit is being sold fully furnished and the opportunity to convert to a 2 bedroom unit exists. There are currently 4 summer weeks rented that must be honored by the buyer. Call today to schedule your private showing.

Last Agent to Sell the Property

Michael Dodson

Sheppard Realty Inc License #RS-0036853 Listed on: 03/07/2024

Last Buyer's Agent

Mary Jo Cole

Keller Williams Realty License #642245

Keller Williams Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,349

Year Built

  • Built in 1984

Lot Details

  • Ocean Front
  • Property is in very good condition

HOA Fees

  • $423 Monthly HOA Fees

Home Design

  • Masonry

Interior Spaces

  • 990 Sq Ft Home
  • Property has 1 Level
  • Furnished
  • Ceiling Fan
  • Ocean Views

Flooring

  • Carpet
  • Luxury Vinyl Plank Tile

Bedrooms and Bathrooms

  • 1 Main Level Bedroom
  • 1 Full Bathroom

Laundry

  • Laundry in unit
  • Washer and Dryer Hookup

Parking

  • Parking Lot
  • 1 Assigned Parking Space

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Property is used as a vacation rental
  • Tax Lot 409
  • Assessor Parcel Number 2410260655

Community Details

Overview

  • Association fees include common area maintenance, custodial services maintenance, exterior building maintenance, insurance, lawn care front, lawn care rear, lawn care side, parking fee, management, pool(s), reserve funds, snow removal, trash
  • High-Rise Condominium
  • Rainbow Condos
  • Rainbow Community
  • Property Manager

Amenities

  • Picnic Area
  • Common Area
  • 2 Elevators

Recreation

  • Community Pool

Pet Policy

  • Limit on the number of pets

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,349

Year Built

Built in 1984

Lot Details

0

HOA Fees

$423 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Hi-Rise 9+ Floors
  • Architectural Style: Unit/Flat
  • Ownership: Fee Simple
  • Exclusions: Personal Items
  • Historic: No
  • Inclusions: As shown
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2024-03-07
  • Federal Flood Zone: No
  • Year Built: 1984
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: Do not miss your opportunity to own this meticulously maintained oversized 1 bed 1 bath Oceanfront end unit in the rarely available Rainbow building. This unit boasts not one, but 2 private balconies. Enjoy your coffee and beautiful sunrises on your very own ocean front balcony and in the evenings you can relax with a cocktail and serene sunsets on your west facing balcony with direct bay views. Immerse yourself in luxury with a spacious bedroom, a well appointed bathroom, and sunlit living area. Unit is being sold fully furnished and the opportunity to convert to a 2 bedroom unit exists. There are currently 4 summer weeks rented that must be honored by the buyer. Call today to schedule your private showing.
  • Washer Dryer Hookups YN: Yes
  • Special Features: VirtualTour
  • Property Sub Type: Condos

Interior Features

  • Entry Floor: 4
  • Flooring Type: Carpet, Luxury Vinyl Plank
  • Fireplace: No
  • Elevators Count: 2
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Total Sq Ft: 990
  • Living Area Sq Ft: 990
  • Price Per Sq Ft: 469.60
  • Above Grade Finished Sq Ft: 990
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 11200

Beds/Baths

  • Bedrooms: 1
  • Main Level Bedrooms: 1
  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • View: Ocean
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Community
  • Tidal Water: No
  • Water View: Yes

Garage/Parking

  • Assigned Spaces Count: 1
  • Garage: No
  • Parking Features: Assigned
  • Type Of Parking: Parking Lot

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Ceiling Fan(s), Central A/C
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv, Electric Available, Sewer Available
  • Water Source: Public
  • Municipal Trash: No

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 422.93
  • Condo Co-Op Fee Frequency: Monthly
  • Condo Co-Op Name: Rainbow
  • HOA Condo Co-Op Amenities: Common Grounds, Elevator, Swimming Pool, Reserved/Assigned Parking, Pool - Outdoor, Picnic Area
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Custodial Services Maintenance, Ext Bldg Maint, Insurance, Lawn Care Front, Lawn Care Rear, Lawn Care Side, Parking Fee, Management, Pool(s), Reserve Funds, Snow Removal, Trash
  • 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

Lot Info

  • Lot Dimensions: 0.00 x 0.00
  • Property Condition: Very Good
  • Year Assessed: 2024
  • Zoning: R-3
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: Number Limit
  • Pets Allowed: Yes
  • Total Actual Rent: 19537.86
  • Vacation Rental: Yes
  • Property Manager: Yes

Tax Info

  • Tax Annual Amount: 3349.21
  • Assessor Parcel Number: 2410260655
  • Tax Lot: 409
  • Tax Total Finished Sq Ft: 990
  • County Tax Payment Frequency: Annually
  • Tax Year: 2024
  • Close Date: 04/26/2024

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 7, 2024
Closed on
Apr 26, 2024
Sold by
New Jersey Trust and Vuttaluru Krishnarjun
Bought by
Scrizzi John J and Scrizzi Lissette Pittre
Seller's Agent
Michael Dodson
Sheppard Realty Inc
Buyer's Agent
Mary Jo Cole
Keller Williams Realty
List Price
$464,900
Sold Price
$455,000
Premium/Discount to List
-$9,900
-2.13%
Views
74
Current Estimated Value
$460,613

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$5,613
Avg. Annual Appreciation
4.51%
Original Mortgage
$295,000
Outstanding Balance
$291,126
Interest Rate
6.87%
Mortgage Type
New Conventional
Estimated Equity
$191,338

Purchase Details

Closed on
Dec 18, 2006
Sold by
Schmitz Judy K
Bought by
Lloyd Wayne T and Lloyd Ruth A

Purchase Details

Closed on
Nov 1, 2006
Sold by
Schmitz Judy K
Bought by
Lloyd Wayne T and Lloyd Ruth A

Purchase Details

Closed on
Oct 23, 1998
Sold by
Shahri Homayoun and Shahri Ramineh
Bought by
Schmitz Judy K

Purchase Details

Closed on
Jul 31, 1992
Sold by
Borruso Robert Harold
Bought by
Shahri Homayoun and Shahri Ramineh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,300
Interest Rate
8.05%
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Scrizzi John J $455,000 Maryland Title
Lloyd Wayne T $364,484 --
Lloyd Wayne T $364,484 --
Schmitz Judy K $107,000 --
Shahri Homayoun $107,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Scrizzi John J $295,000
Previous Owner Schmitz Judy $150,000
Previous Owner Shahri Homayoun $96,300
Closed Schmitz Judy K --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/26/2024 04/26/24 Sold $455,000 -2.1% $460 / Sq Ft
03/07/2024 03/07/24 For Sale $464,900 +16.3% $470 / Sq Ft
03/25/2022 03/25/22 Sold $399,900 0.0% $404 / Sq Ft
02/21/2022 02/21/22 Pending -- -- --
02/21/2022 02/21/22 Off Market $399,900 -- --
02/18/2022 02/18/22 For Sale $399,900 -- $404 / 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 $3,868 $316,800 $0 $0
2024 $3,868 $277,200 $0 $0
2023 $3,339 $237,600 $166,300 $71,300
2022 $3,272 $232,800 $0 $0
2021 $3,222 $228,000 $0 $0
2020 $3,166 $223,200 $156,200 $67,000
2019 $3,175 $223,200 $156,200 $67,000
2018 $3,144 $223,200 $156,200 $67,000
2017 $3,190 $224,700 $0 $0
2016 -- $224,700 $0 $0
2015 $3,420 $224,700 $0 $0
2014 $3,420 $225,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Michael Dodson

    Seller's Agent in 2024

    Michael Dodson

    Sheppard Realty Inc

    (410) 596-1681

    32 in this area

    80 Total Sales

    Michael Dodson
    Section Image
  • Mary Jo Cole

    Buyer's Agent in 2024

    Mary Jo Cole

    Keller Williams Realty

    (443) 615-4986

    44 in this area

    129 Total Sales

    Mary Jo Cole
    Section Image
  • Nicole Callender

    Seller's Agent in 2022

    Nicole Callender

    Keller Williams Realty Delmarva

    (410) 440-6688

    39 in this area

    239 Total Sales

    Nicole Callender
    Section Image
See All Agents

About Rainbow Condominiums

Map

Source: Bright MLS

MLS Number: MDWO2019258

Bright MLS

APN: 10-260655

Maryland Worcester County Ocean City 21842

11200 Coastal Hwy, Ocean City, MD

This home is located at 11200 Coastal Hwy, Ocean City, MD 21842 since 07 March 2024 and is currently estimated at $460,613, approximately $465 per square foot. This property was built in 1984. 11200 Coastal Hwy is a home located in Worcester County with nearby schools including Ocean City Elementary School, Stephen Decatur Middle School, and Berlin Intermediate School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bright MLS The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement.
Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site.
The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale.
Property information displayed is deemed reliable but is not guaranteed.
Copyright 2025 Bright MLS, Inc.

Nearby Homes