NOT LISTED FOR SALE

Estimated Value: $530,781

2 Beds
2 Baths
992 Sq Ft
1986 Built

Sale Details

Date Sold: May 17, 2024

Last sale price $515,000 $519 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $4,473 / mo

14 Days on Market

Highlights

  • 200 Feet of Waterfront
  • Ocean View
  • Oceanfront Bldg, View Varies
  • Ocean City Elementary School Rated A
  • Public Water Access
  • Coastal Architecture

About This Home

As of May 2024

THIS IS THE ONE YOU'VE BEEN WAITING FOR! The expansive & unobstructed ocean view speaks for itself & says it all! Gaze out at the ocean right from your bed or living room sofa, while hearing nothing but the sound of waves crashing on the shore. It's the stuff that dreams are made of! And now you have a golden opportunity to make your dreams a reality in one of Ocean City's MOST sought-after & highly-coveted oceanfront buildings.

This beautiful & meticulously maintained condo offers 2 generous bedrooms, 2 full bathrooms, open-concept living & dining area, a well-appointed kitchen, laundry closet, & 150 sqft of additional outdoor living space on the expansive, 25 foot balcony. The spacious primary bedroom features a wall-length glass slider that provides private access to the balcony & maximizes the amazing Atlantic Ocean views. The primary bathroom features a gorgeous 60" double sink vanity with a solid Cararra marble countertop, soft-close doors/drawers, & polished chrome fixtures, waterproof luxury plank flooring, & dual-flush toilet (all 2024). The guest bathroom features a new vanity with a Carrara marble engineered stone countertop & dual-flush toilet (2024). The newly updated & expanded kitchen features white cabinetry, soft-close doors/drawers, 2 full-size lazy susan corner base cabinets to maximize space & storage, premium granite countertop, beveled Calcutta marble subway tile backsplash, under cabinet lighting, & over 8 feet of raised-counter dining space with seating for 4. All stainless steel appliances include french door refrigerator w/bottom freezer, 5-burner radiant cooktop & range, microwave w/exhaust fan, & dishwasher w/steel tub. Luxurious Phillip Jefferies grasscloth wallpaper & white wainscoting adorn the walls in the living/dining room, foyer, & hallway. Also features a new Carrier HVAC system (3 yrs new & under warranty), 50-gallon Rheem water heater in 2019 (under warranty), hurricane-rated front door in 2019, & electrical outlets/switches upgraded & replaced in 2021.

Summer Beach offers an oceanfront pool, 2 elevators, mostly-covered garage parking (2 spaces/owner), cable TV service included, convenient trash chutes on each floor, outside showers, bicycle storage room, designated dog walk/potty area, building generator, secured lobby, & a nighttime attendant until 2:00 a.m.during the summer months. Summer Beach has a well-managed association that is proactive in maintaining the property. Recent projects include a new roof (2021), parking garage reinforced & resurfaced (2018), balconies sealed & waterproof-coated (2019), electric meters replaced (2020), dry sprinkler system replaced (2020), pool/pool deck resurfaced (2020), & so much more. While this condo has never been rented before, if you're looking to invest in a rental property, just think of all the benefits to be realized from having an ONSITE RENTAL OFFICE right in the lobby! Staffed year-round, 7 days a week, Seaside Vacations can handle every aspect of the rental process, while closely monitoring & safeguarding the property on your behalf.

Best of all, the price is fully supported from a comp perspective! In particular, the most recent sale in the building, unit 607, was sold 4/2/24 in an OFF-MARKET, agentless transaction for $500k, equivalent to $530k for an on-market, agent-assisted transaction ($30k in fees were avoided, thereby yielding the same net proceeds).

Note regarding condo fee: the actual condo fee is $700/month. Due to recent changes in legislation resulting from the building collapse in FL, an additional $325/month is temporarily being collected from owners to comply with the requirement to fully-fund reserves by October 2026. The association voted to collect more than the minimum needed to meet the deadline, to satisfy the requirement sooner.

Last Agent to Sell the Property

Alex Hodges

(703) 242-0005 alex.hodges@yahoo.com Cottage Street Realty LLC Listed on: 04/12/2024

Last Buyer's Agent

Athina Garcia

(410) 561-0044 athinagarcia@remax.net Berkshire Hathaway HomeServices Homesale Realty

Berkshire Hathaway HomeServices Homesale Realty

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,496

Year Built

  • Built in 1986

Lot Details

  • Oceanfront Bldg, View Varies
  • 200 Feet of Waterfront
  • Home fronts navigable water
  • Property is in very good condition

HOA Fees

  • $1,025 Monthly HOA Fees

Parking

  • 2 Car Attached Garage
  • Basement Garage

Home Design

  • Coastal Architecture
  • Entry on the 3rd floor
  • Masonry

Interior Spaces

  • 992 Sq Ft Home
  • Property has 1 Level
  • Partially Furnished
  • Crown Molding
  • Wainscoting
  • Window Treatments
  • Sliding Doors
  • Dining Area

Kitchen

  • Electric Oven or Range
  • Self-Cleaning Oven
  • Microwave
  • Freezer
  • Ice Maker
  • Dishwasher
  • Stainless Steel Appliances
  • Upgraded Countertops
  • Disposal

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • En-Suite Bathroom
  • 2 Full Bathrooms
  • Dual Flush Toilets
  • Bathtub with Shower

Laundry

  • Laundry in unit
  • Stacked Electric Washer and Dryer

Home Security

Outdoor Features

  • Outdoor Shower
  • Public Water Access
  • Property is near an ocean

Utilities

  • Forced Air Heating and Cooling System
  • Programmable Thermostat
  • Electric Water Heater

Additional Features

  • ENERGY STAR Qualified Equipment
  • Flood Risk

Listing and Financial Details

  • Tax Lot 304
  • Assessor Parcel Number 2410300797

Community Details

Overview

  • Association fees include alarm system, all ground fee, custodial services maintenance, exterior building maintenance, lawn maintenance, management, cable TV, common area maintenance, insurance, pool(s), reserve funds, trash
  • Mid-Rise Community
  • Summer Beach Community
  • Property Manager

Amenities

  • Elevator

Recreation

  • Fenced Community Pool

Pet Policy

  • Pets allowed on a case-by-case basis

Security

  • Front Desk in Lobby
  • Fire and Smoke Detector
  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,496

Year Built

Built in 1986

Lot Details

0 Sq Ft Lot

HOA Fees

$1,025 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Mid-Rise 5 - 8 Floors
  • Architectural Style: Coastal
  • Ownership: Condominium
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: Yes
  • Year Built: 1986
  • Automatically Close On Close Date: No
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Disposal, Dryer, Dryer - Electric, Dual Flush Toilets, Freezer, Icemaker, Microwave, Oven - Self Cleaning, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, Washer, Water Heater
  • Entry Floor: 3
  • Interior Amenities: Crown Moldings, Dining Area, Primary Bath(s), Tub Shower, Upgraded Countertops, Wainscotting, Window Treatments
  • Fireplace: No
  • Door Features: Sliding Glass
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Total Sq Ft: 992
  • Living Area Sq Ft: 992
  • Price Per Sq Ft: 534.27
  • Above Grade Finished Sq Ft: 992
  • Above Grade Finished Area Units: Square Feet

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Main Level Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • Exterior Features: Outside Shower
  • View: Ocean
  • Water Access Features: Public Access
  • Water Access: Yes
  • Water Body Name: Atlantic
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: Yes - Community
  • Water View: Yes
  • Water Frontage In Feet: 200

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Garage Features: Basement Garage, Covered Parking
  • 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, Energy Star Cooling System, Programmable Thermostat
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Security: Desk In Lobby, Main Entrance Lock, Smoke Detector, Sprinkler System - Indoor
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 1025.00
  • Condo Co-Op Fee Frequency: Monthly
  • HOA Condo Co-Op Amenities: Elevator, Swimming Pool
  • HOA Condo Co-Op Fee Includes: Alarm System, All Ground Fee, Custodial Services Maintenance, Ext Bldg Maint, Lawn Maintenance, Management, Cable Tv, Common Area Maintenance, Insurance, Pool(s), Reserve Funds, Trash
  • HOA: No
  • Senior Community: No
  • Community Pool Features: Concrete, In Ground, Fenced

Schools

  • School District Source: Listing Agent

Lot Info

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

Rental Info

  • Furnished: Partially
  • Pets: Case By Case Basis
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Tax Annual Amount: 3496.00
  • Assessor Parcel Number: 2410300797
  • Tax Lot: 304
  • County Tax Payment Frequency: Annually
  • Tax Year: 2023

Multi Family

  • Federal Flood Zone: UNKNOWN

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 5, 2016
Closed on
Aug 12, 2016
Sold by
Holmes Richard W
Bought by
Seller's Agent
datacorrect BrightMLS
Non Subscribing Office
Buyer's Agent
Terry Riley
RE/MAX Advantage Realty
List Price
$425,000
Sold Price
$355,000
Premium/Discount to List
-$70,000
-16.47%
Current Estimated Value
$530,781

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$175,781
Avg. Annual Appreciation
4.07%
Original Mortgage
$319,500
Interest Rate
3.42%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 24, 1991
Sold by
Chitwood Chitwood L and Chitwood Leila S
Bought by
Holmes Richard W

Purchase Details

Closed on
Sep 12, 1989
Sold by
Bennett Mark A and Hill Cecil F
Bought by
Chitwood Chitwood L and Chitwood Leila S

Purchase Details

Closed on
Jul 16, 1987
Sold by
Summer Beach Inc
Bought by
Bennett Mark A and Hill Cecil F
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Ocean City, MD

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$355,000 Brennan Title Company
Holmes Richard W $141,600 --
Chitwood Chitwood L $150,000 --
Bennett Mark A $132,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $125,000
Open Brown Jeffrey L $296,250
Previous Owner Brown Jeffrey $319,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/17/2024 05/17/24 Sold $515,000 +32.1% $519 / Sq Ft
04/26/2024 04/26/24 Sold $390,000 -26.4% $393 / Sq Ft View Prior Sale
04/26/2024 04/26/24 Pending -- -- --
04/12/2024 04/12/24 For Sale $529,999 +32.8% $534 / Sq Ft
04/03/2024 04/03/24 Pending -- -- --
03/30/2024 03/30/24 Price Changed $399,000 -5.9% $402 / Sq Ft
03/22/2024 03/22/24 Price Changed $424,000 -5.6% $427 / Sq Ft
02/21/2024 02/21/24 For Sale $449,000 +12.3% $453 / Sq Ft
05/03/2023 05/03/23 Sold $399,900 0.0% $403 / Sq Ft View Prior Sale
03/20/2023 03/20/23 Pending -- -- --
02/15/2023 02/15/23 For Sale $399,900 -21.6% $403 / Sq Ft
03/17/2022 03/17/22 Sold $510,000 +2.2% $514 / Sq Ft View Prior Sale
01/20/2022 01/20/22 For Sale $499,000 +39.0% $503 / Sq Ft
08/30/2019 08/30/19 Sold $359,000 -2.9% $362 / Sq Ft View Prior Sale
07/23/2019 07/23/19 Pending -- -- --
07/17/2019 07/17/19 Price Changed $369,900 -2.4% $373 / Sq Ft
02/15/2019 02/15/19 For Sale $379,000 +6.8% $382 / Sq Ft
08/15/2016 08/15/16 Sold $355,000 -5.3% $389 / Sq Ft View Prior Sale
06/24/2016 06/24/16 Pending -- -- --
02/26/2016 02/26/16 Sold $375,000 -11.8% $369 / Sq Ft View Prior Sale
02/05/2016 02/05/16 For Sale $425,000 -- $466 / Sq Ft
01/15/2016 01/15/16 Pending -- -- --
Source: Bright MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $5,417 $424,000 $296,800 $127,200
2025 $5,417 $396,667 $0 $0
2024 $5,154 $369,333 $0 $0
2023 $4,806 $342,000 $239,400 $102,600
2022 $4,806 $342,000 $239,400 $102,600
2021 $4,833 $342,000 $239,400 $102,600
2020 $4,832 $342,000 $239,400 $102,600
2019 $4,783 $336,200 $0 $0
2018 $4,653 $330,400 $0 $0
2017 $4,585 $324,600 $0 $0
2016 -- $324,600 $0 $0
2015 $3,900 $324,600 $0 $0
2014 $3,900 $389,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: MDWO2020246

Bright MLS

APN: 10-301203

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