NOT LISTED FOR SALE

1602 Philadelphia Ave Unit 111 Ocean City, MD 21842

Estimated Value: $531,000 - $622,000

3 Beds
3 Baths
1,370 Sq Ft
$432/Sq Ft Est. Value

Last Sold May 24, 2019

Last sale price $325,000 $237 Per Sq Ft

Est. 82% increase in value since last sale

Current estimated payment $3,782/month

Highlights

  • Ocean View
  • Newly Remodeled
  • Open Floorplan
  • Ocean City Elementary School Rated A
  • Building is oceanfront but unit may not have water views
  • Coastal Architecture

About This Home

As of May 2019

Southern Exposure New Construction Oceanview End-Unit Townhome built in 2014. Fantastic Ocean Block location convenient to the Boardwalk on 16th Street. Unit features 2 Car Garage, Granite Countertops with Breakfast Bar in Kitchen, Stainless Steel Appliances, 42- inch Cabinets, Stylish kitchen Lighting, Ceramic Tile in Kitchen and Baths, and Front Loading Washer and Dryer. All three bedrooms have vaulted ceilings. Master Bedroom features a balcony with an Oceanview. Master Bathroom features Double Vanity with Glass Shower. Initial Capital Contribution of $500 due to Condo Association at Settlement from Buyer. Document Review Fee Charged to Buyer if Buyer chooses settlement attorney other than Jim Almand. As of 4/20/19 there is $14,275 in booked gross rental income for the Summer of 2019. Unit rents for $2,350 per week in prime season with Resort Rentals. This unit rented over $20,000 in gross income in 2018.

Last Agent to Sell the Property

Jonathan Barker

(410) 935-3810 jon@markf.com Keller Williams Realty Delmarva License #618143 Listed on: 04/20/2019

Keller Williams Realty Delmarva

Last Buyer's Agent

Timothy Dozier

(410) 322-9065 tkdozier@gmail.com Sheppard Realty Inc License #649668

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $4,354

Year Built

  • Built in 2014 | Newly Remodeled

Lot Details

  • Building is oceanfront but unit may not have water views
  • South Facing Home
  • Property is in excellent condition

HOA Fees

  • $250 Monthly HOA Fees

Parking

  • 2 Car Attached Garage
  • Rear-Facing Garage

Home Design

  • Coastal Architecture
  • Entry on the 2nd floor
  • Slab Foundation
  • Architectural Shingle Roof
  • Vinyl Siding
  • Stick Built Home

Interior Spaces

  • 1,370 Sq Ft Home
  • Property has 3 Levels
  • Open Floorplan
  • Furnished
  • Ceiling height of 9 feet or more
  • Ceiling Fan
  • Recessed Lighting
  • Double Pane Windows
  • Window Treatments
  • Window Screens
  • Sliding Doors
  • Six Panel Doors
  • Dining Area
  • Ocean Views

Kitchen

  • Electric Oven or Range
  • Built-In Microwave
  • Dishwasher
  • Stainless Steel Appliances
  • Upgraded Countertops
  • Disposal

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • En-Suite Bathroom
  • 3 Full Bathrooms

Laundry

  • Laundry on upper level
  • Electric Dryer

Home Security

Outdoor Features

  • Outdoor Shower
  • Balcony
  • Porch

Location

  • Flood Risk

Utilities

  • Central Air
  • Heat Pump System
  • Vented Exhaust Fan
  • Programmable Thermostat
  • Electric Water Heater
  • Municipal Trash
  • Cable TV Available

Listing and Financial Details

  • Home warranty included in the sale of the property
  • Property is used as a vacation rental
  • Tax Lot 4195
  • Assessor Parcel Number 10-768996

Community Details

Overview

  • $5 Capital Contribution Fee
  • Association fees include common area maintenance, exterior building maintenance, insurance, management, reserve funds
  • Sunburst Townhome Condos
  • Built by Bunting Construction
  • Sunburst Townhouse Community
  • Property Manager

Pet Policy

  • Dogs and Cats Allowed

Security

  • Fire and Smoke Detector
  • Fire Sprinkler System

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$4,354

Year Built

Built in 2014 | Newly Remodeled

Lot Details

0

HOA Fees

$250 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: End Of Row/Townhouse
  • Architectural Style: Coastal
  • Ownership: Condominium
  • Historic: No
  • Home Warranty: Yes
  • Inclusions: Sold Fully Furnished
  • New Construction: Yes
  • Story List: Main, Upper 1, Upper 2
  • Federal Flood Zone: Yes
  • Year Built: 2014
  • Special Features: NewHome
  • Property Sub Type: Townhouses

Interior Features

  • Appliances: Built-In Microwave, Dishwasher, Disposal, Dryer - Electric, Exhaust Fan, Oven/Range - Electric, Stainless Steel Appliances, Water Heater
  • Entry Floor: 2
  • Flooring Type: Carpet, Ceramic Tile
  • Interior Amenities: Carpet, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Dining Area, Floor Plan - Open, Primary Bath(s), Recessed Lighting, Upgraded Countertops, Window Treatments
  • Window Features: Screens, Double Pane
  • Fireplace: No
  • Door Features: Six Panel, Sliding Glass
  • Wall Ceiling Types: 9'+ Ceilings, Dry Wall
  • Foundation Details: Slab
  • Levels Count: 3+
  • Basement: No
  • Laundry Type: Upper Floor, Washer In Unit, Dryer In Unit
  • Total Sq Ft: 1370
  • Living Area Sq Ft: 1370
  • Price Per Sq Ft: 248.10
  • Above Grade Finished Sq Ft: 1370
  • Above Grade Finished Area Units: Square Feet

Beds/Baths

  • Bedrooms: 3
  • Total Bathrooms: 3
  • Full Bathrooms: 3
  • Upper Level Bathrooms: 3
  • Upper Level Bathrooms: 1.00
  • Upper Level 2 Bathrooms: 2.00

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Stick Built, Vinyl Siding
  • Construction Completed: Yes
  • Exterior Features: Outside Shower
  • Roof: Architectural Shingle
  • Spa: No
  • View: Ocean
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: Yes

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Garage Features: Garage - Rear Entry
  • Attached Garage Spaces: 2
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: Attached Garage

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C, Ceiling Fan(s), Heat Pump(s), Programmable Thermostat
  • Electric Service: Circuit Breakers
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s), Programmable Thermostat
  • Heating: Yes
  • Hot Water: Electric
  • Security: Smoke Detector, Sprinkler System - Indoor
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 3000.00
  • Condo Co-Op Fee Frequency: Annually
  • Condo Co-Op Name: Sunburst Townhome
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Insurance, Management, Reserve Funds
  • HOA Condo Co-Op Management Type: Professional - Off-Site
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Fee Information

  • Loss Mitigation Fee?: No
  • Capital Contribution Fee: 5.00

Schools

  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 154100.00
  • Land Assessed Value: 154100.00
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Outdoor Living Structures: Balcony, Porch(es)
  • Property Condition: Very Good, Excellent
  • Zoning: 012
  • Zoning Description: Residential Condominium
  • In City Limits: Yes

Building Info

  • Builder Name: Bunting Construction

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: Dogs Ok, Cats Ok
  • Pets Allowed: Yes
  • Vacation Rental: Yes
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 12503553
  • Tax Annual Amount: 4354.00
  • Assessor Parcel Number: 10-768996
  • Tax Lot: 4195
  • County Tax Payment Frequency: Annually
  • Tax Year: 2018

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 20, 2019
Closed on
May 24, 2019
Sold by
Mana Jit Inc
Bought by
Hung Daniel and Truong Mimi
Seller's Agent
Jonathan Barker
Keller Williams Realty Delmarva
Buyer's Agent
Timothy Dozier
Sheppard Realty Inc
List Price
$339,900
Sold Price
$325,000
Premium/Discount to List
-$14,900
-4.38%
Current Estimated Value
$591,704

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$266,704
Avg. Annual Appreciation
9.77%
Source: Public Records

Range of Values:

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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
Hung Daniel $325,000 None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/24/2019 05/24/19 Sold $325,000 -4.4% $237 / Sq Ft
05/04/2019 05/04/19 Pending -- -- --
04/20/2019 04/20/19 For Sale $339,900 -- $248 / 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 $5,044 $369,400 $0 $0
2024 $4,728 $338,800 $0 $0
2023 $4,331 $308,200 $154,100 $154,100
2022 $4,331 $308,200 $154,100 $154,100
2021 $4,355 $308,200 $154,100 $154,100
2020 $4,355 $308,200 $154,100 $154,100
2019 $4,384 $308,200 $154,100 $154,100
2018 $4,341 $308,200 $154,100 $154,100
2017 $0 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jonathan Barker

    Seller's Agent in 2019

    Jonathan Barker

    Keller Williams Realty Delmarva

    (410) 935-3810

    119 in this area

    193 Total Sales

    Jonathan Barker
    Section Image
  • Timothy Dozier

    Buyer's Agent in 2019

    Timothy Dozier

    Sheppard Realty Inc

    (410) 322-9065

    26 in this area

    38 Total Sales

    Timothy Dozier
    Section Image
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Map

Source: Bright MLS

MLS Number: MDWO105572

Bright MLS

APN: 10-768996

Maryland Worcester County Ocean City 21842

1602 Philadelphia Ave Unit 111, Ocean City, MD

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