NOT LISTED FOR SALE

1516 Teal Dr Ocean City, MD 21842

Estimated Value: $1,233,000 - $2,219,000

0.21 Acre
$7,901,700 Price per Acre
8,950 Sq Ft Lot

Last Sold July 09, 2012

Last sale price $400,000

Est. 315% increase in value since last sale

Current estimated payment $9,949/month

Highlights

  • Home fronts navigable water
  • Water Access
  • Canal View
  • Ocean City Elementary School Rated A
  • 0.21 Acre Lot
  • No HOA

About This Lot

As of July 2012

Waterfront lot in Mallard Island with Deep Water Access

Last Agent to Sell the Property

Jay Phillips

(410) 726-8631 jay@phillipscoastalgroup.com Holiday Real Estate Listed on: 05/15/2012

Last Buyer's Agent

Lauren Bunting

(410) 422-9899 lwbunting@comcast.net Keller Williams Realty Delmarva License #581537

Keller Williams Realty Delmarva

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $14,636

Lot Details

  • 8,950 Sq Ft Lot
  • Home fronts navigable water

Schools

  • Ocean City Elementary School
  • Stephen Decatur Middle School
  • Stephen Decatur High School

Utilities

  • Water Service Lateral Not Installed
  • Public Hookup Available For Sewer

Additional Features

  • Canal Views
  • Flood Risk

Listing and Financial Details

  • Tax Lot 35
  • Assessor Parcel Number 39967

Community Details

Overview

  • No Home Owners Association
  • Mallard Island Subdivision

Recreation

  • Water Access
  • Property is near a canal
  • Bulkhead
  • Dock Against Bulkhead

Property Details

Property Type

Land

Est. Annual Taxes

$14,636

Lot Details

0

Listing Details

  • Property Type: Land
  • Property Sub Type: Land
  • Current Use: Residential
  • Federal Flood Insurance: Yes
  • Historic: No
  • New Construction: No
  • Federal Flood Zone: Yes
  • Special Features: None

Interior Features

  • Price Per Sq Ft: 44.69

Exterior Features

  • Construction Completed: No
  • View: Canal, Water
  • Water Access: Yes
  • Water Body Type: Canal
  • Waterfront: Yes
  • Water Oriented: Yes
  • Water View: Yes

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: No
  • Sewer/Septic System: Public Hook/Up Avail
  • Water Source: Lateral Not Installed/Must Tap Off Main, Public

Condo/Co-op/Association

  • HOA: No

Schools

  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • Elementary School: OCEAN CITY
  • High School: STEPHEN DECATUR
  • Middle Or Junior School: STEPHEN DECATUR

Lot Info

  • Lot Features: Bulkheaded
  • Lot Size Acres: 0.21
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 8950.00
  • Possible Use: Residential
  • Zoning: R-1
  • Zoning Description: R

Rental Info

  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 5400414
  • Assessor Parcel Number: 39967
  • Tax Lot: 35
  • County Tax Payment Frequency: Annually

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 28, 2013
Sold by
Priestley Jerrold W and Priestley Deborah S
Bought by
Priestley Jerrold W and Priestley Deborah D
Current Estimated Value
$1,659,357

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Outstanding Balance
$362,186
Interest Rate
3.83%
Mortgage Type
Stand Alone First
Estimated Equity
$1,297,171

Purchase Details

Listed on
May 15, 2012
Closed on
Jul 9, 2012
Sold by
Beard Catherine J and Catherine R Glasgow Trust
Bought by
Priestley Jerrold W and Priestley Deborah S
Seller's Agent
Jay Phillips
Holiday Real Estate
Buyer's Agent
Lauren Bunting
Keller Williams Realty Delmarva
List Price
$400,000
Sold Price
$400,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.28%
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
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
Priestley Jerrold W -- None Available
Priestley Jerrold W $400,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Priestley Jerrold W $500,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/09/2012 07/09/12 Sold $400,000 0.0% --
05/15/2012 05/15/12 Pending -- -- --
05/15/2012 05/15/12 For Sale $400,000 -- --
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 $14,636 $1,071,800 $0 $0
2024 $13,830 $991,100 $0 $0
2023 $12,795 $910,400 $555,800 $354,600
2022 $12,722 $905,267 $0 $0
2021 $12,720 $900,133 $0 $0
2020 $12,645 $895,000 $555,800 $339,200
2019 $12,170 $855,467 $0 $0
2018 $11,492 $815,933 $0 $0
2017 $10,967 $776,400 $0 $0
2016 -- $755,867 $0 $0
2015 $7,108 $735,333 $0 $0
2014 $7,108 $399,800 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: 1000861010

Bright MLS

APN: 10-039967