Seller's Agent in 2022
Kate Koeppen
Chesapeake Bay Real Estate Plus, LLC
(410) 829-0705
15 in this area
29 Total Sales
205 Cherry St St. Michaels, MD 21663
Estimated Value: $2,378,270
7
Beds
8.5
Baths
4,394
Sq Ft
$541/Sq Ft
Est. Value
Highlights
- Additional Residence on Property
- Primary bedroom faces the bay
- Access to Tidal Water
- 200 Feet of Waterfront
- Marina View
- 4-minute walk to Muskrat Park
About This Home
As of April 2022Offer accepted. Once in a lifetime opportunity to own a St. Michaels iconic landmark waterfront property in a premier in-town location! This grand historic home is on the biggest waterfront lot overlooking the St Michaels harbor. Breathtaking views of the "Honeymoon" footbridge, Hollis Park, the Patriot Tour Boat, marinas & Navy Point, the home of Chesapeake Bay Maritime Museum. The main building is distinguished by it's elaborate 2nd Empire Mansard slate roof and Colonial Revival columned porches. Zoned R2 residential with a current home based business run as Aida's Victoriana Inn Bed and Breakfast. It's the only B&B in St. Michaels with a full, separate two bedroom, two bath Innkeepers house which would make a beautiful guest house. The property can be subdivided into two waterfront houses. There are seven bedrooms with four waterside bedrooms including a main level primary suite with a large private deck and sweeping views of the harbor. All rooms have separate controlled cooling. Three rooms have fireplaces. Plenty of access to the water via a public kayak launch, free Town day boat parking, overnight boat slips at the Museum and year round slip rentals next door at Higgins Yacht yard. Full basement in the main house provides ample storage. There is onsite parking for 10 cars. Commercial sprinklers throughout. Fully furnished with old world charm. Price is the same with or without furniture. Purchase price includes everything needed to start your own B&B business plus access to reservation and accounting system. Service for 120 person events is included. Town of St. Michaels B&B Inn license is good for unlimited events including weddings. Buyer must apply for license before settlement. Excellent high elevation with no current flood insurance. Financials only available after an in-person showing & a signed non-compete. This is a residential purchase with the ability for a buyer to start their own business. Current business is not for sale. Please do not go on the property without an appointment. Listing agent must accompany any showings. Showings must be scheduled around occupancy with at least 24 hours notice. Access to all rooms may need several showing appointments. History, plat and Features Sheet in MLS documents.
Last Agent to Sell the Property
(410) 829-0705 katekoeppen@lovsmre.com Chesapeake Bay Real Estate Plus, LLC License #584287 Listed on: 03/28/2022
Last Buyer's Agent
(410) 829-0705 katekoeppen@lovsmre.com Chesapeake Bay Real Estate Plus, LLC License #584287 Listed on: 03/28/2022
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $13,217
Year Built
- Built in 1875 | Remodeled in 1987
Lot Details
- 0.73 Acre Lot
- 200 Feet of Waterfront
- Home fronts navigable water
- Southwest Facing Home
- Partially Fenced Property
- Landscaped
- No Through Street
- Corner Lot
- Sprinkler System
- Cleared Lot
- Front Yard
- Subdivision Possible
- Property is in good condition
- Property is zoned R2
Property Views
- Marina
- Harbor
- River
Home Design
- Colonial Architecture
- Traditional Architecture
- Victorian Architecture
- Entry on the 1st floor
- Brick Foundation
- Architectural Shingle Roof
- Slate Roof
- Wood Siding
- Vinyl Siding
- Concrete Perimeter Foundation
Interior Spaces
- 4,394 Sq Ft Home
- Property has 3 Levels
- Furnished
- Built-In Features
- Ceiling height of 9 feet or more
- Ceiling Fan
- Recessed Lighting
- 3 Fireplaces
- Wood Burning Fireplace
- Gas Fireplace
- Window Treatments
- Stained Glass
- Formal Dining Room
- Wood Flooring
Kitchen
- Eat-In Kitchen
- Gas Oven or Range
- Self-Cleaning Oven
- Range Hood
- Microwave
- Extra Refrigerator or Freezer
- Ice Maker
- Dishwasher
- Stainless Steel Appliances
- Disposal
Bedrooms and Bathrooms
- Primary bedroom faces the bay
Laundry
- Dryer
- Washer
Basement
- Basement Fills Entire Space Under The House
- Laundry in Basement
Home Security
- Exterior Cameras
- Fire and Smoke Detector
- Fire Sprinkler System
- Flood Lights
Parking
- 7 Open Parking Spaces
- 10 Parking Spaces
- 3 Driveway Spaces
- Private Parking
- Gravel Driveway
- Parking Lot
- Off-Street Parking
Outdoor Features
- Access to Tidal Water
- Water Access
- River Nearby
- Bulkhead
- Stream or River on Lot
- Deck
- Porch
Additional Homes
- Additional Residence on Property
Utilities
- Central Air
- Radiator
- Heating System Uses Oil
- Heat Pump System
- Underground Utilities
- Propane
- Multi-Tank Water Heater
- Municipal Trash
- Cable TV Available
Community Details
- No Home Owners Association
- Built by Henry Clay Dodson
- St Michaels Subdivision
Listing and Financial Details
- Assessor Parcel Number 2102065207
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 28, 2022
Closed on
Apr 22, 2022
Sold by
Miklos Holdings Inc
Bought by
Swan Pond Llc
Seller's Agent
Kate Koeppen
Chesapeake Bay Real Estate Plus, LLC
Buyer's Agent
Kate Koeppen
Chesapeake Bay Real Estate Plus, LLC
List Price
$2,025,000
Sold Price
$2,100,000
Premium/Discount to List
$75,000
3.7%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$278,270
Avg. Annual Appreciation
3.66%
Original Mortgage
$1,575,000
Outstanding Balance
$1,462,368
Interest Rate
3.85%
Mortgage Type
New Conventional
Estimated Equity
$942,594
Purchase Details
Closed on
May 3, 2005
Sold by
Mcdonald Charles J
Bought by
Aida'S Victoriana Inn Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,125,000
Interest Rate
6.05%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Feb 22, 2000
Sold by
Gonden James F
Bought by
Mcdonald Charles J and Pastrana Maria I
Purchase Details
Closed on
Nov 5, 1997
Sold by
Bernstein Janet R
Bought by
Gonden James F
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 |
|---|---|---|---|
| Swan Pond Llc | $2,100,000 | First American Title | |
| Aida'S Victoriana Inn Inc | $1,347,000 | -- | |
| Mcdonald Charles J | $1,230,333 | -- | |
| Gonden James F | $1,025,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Swan Pond Llc | $1,575,000 | |
| Previous Owner | Aida'S Victoriana Inn Inc | $1,125,000 | |
| Previous Owner | Aida'S Victoriana Inn Inc | $164,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/22/2022 04/22/22 | Sold | $2,100,000 | +3.7% | $478 / Sq Ft |
| 03/28/2022 03/28/22 | Pending | -- | -- | -- |
| 03/28/2022 03/28/22 | For Sale | $2,025,000 | -- | $461 / 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 | $23,437 | $1,879,900 | $1,169,800 | $710,100 |
| 2024 | $20,233 | $1,638,733 | $0 | $0 |
| 2023 | $16,598 | $1,397,567 | $0 | $0 |
| 2022 | $13,259 | $1,156,400 | $751,000 | $405,400 |
| 2021 | $25,897 | $1,154,767 | $0 | $0 |
| 2020 | $13,098 | $1,153,133 | $0 | $0 |
| 2019 | $13,079 | $1,151,500 | $751,000 | $400,500 |
| 2018 | $11,981 | $1,130,700 | $0 | $0 |
| 2017 | $10,806 | $1,109,900 | $0 | $0 |
| 2016 | $10,482 | $1,089,100 | $0 | $0 |
| 2015 | $13,003 | $1,089,100 | $0 | $0 |
| 2014 | $13,003 | $1,089,100 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Kate Koeppen
Map
Source: Bright MLS
MLS Number: MDTA2002520
APN: 02-065207
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