503 Palmtree Dr Unit 8 Gaithersburg, MD 20878
2
Beds
1
Bath
864
Sq Ft
$364/mo
HOA Fee
Highlights
- Colonial Architecture
- Community Pool
- Double Pane Windows
- Fields Road Elementary School Rated A-
- Tennis Courts
- Forced Air Heating and Cooling System
About This Home
As of May 2023Large and bright living room with 2 sliding doors leading to the cozy balcony. Two spacious bedrooms, In-unit laundry room with full-size washer & dryer. Beautiful kitchen w/ granite and newer appliances. Sprinkle heads were replaced and tested in 2021 (by condo mgmt), The low condo fee includes water, master insurance, Community pool, tennis courts and exterior maintenance. Pets allowed. Fantastic location, Convenient to Downtown Crown, The Rio, Kentlands, I270, Shady Grove Metro, ICC, Bus Service.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $2,206
Year Built
- Built in 1987
HOA Fees
- $364 Monthly HOA Fees
Parking
- Parking Lot
Home Design
- Colonial Architecture
- Shingle Siding
Interior Spaces
- 864 Sq Ft Home
- Property has 1 Level
- Double Pane Windows
Kitchen
- Stove
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 1 Full Bathroom
Laundry
- Laundry in unit
- Dryer
- Washer
Utilities
- Forced Air Heating and Cooling System
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 160902670944
Community Details
Overview
- Association fees include common area maintenance, parking fee, snow removal, trash, water
- Low-Rise Condominium
- Park Summit Codm Community
- Park Summit Codm Subdivision
Recreation
- Tennis Courts
- Community Playground
- Community Pool
Pet Policy
- Dogs and Cats Allowed
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 6, 2023
Closed on
May 19, 2023
Sold by
Sun Kun and Jiang Huiqun
Bought by
Sun Baiwei and Shu Daniel
Seller's Agent
Kelly Zhang
Signature Home Realty LLC
Buyer's Agent
Shuang Zhao
Signature Home Realty LLC
List Price
$239,000
Sold Price
$235,000
Premium/Discount to List
-$4,000
-1.67%
Total Days on Market
15
Views
162
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
$20,104
Avg. Annual Appreciation
3.34%
Original Mortgage
$132,000
Outstanding Balance
$129,142
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$121,505
Purchase Details
Listed on
Mar 16, 2017
Closed on
Mar 24, 2017
Sold by
Diplpomat Property Manager Llc
Bought by
Sun Kum and Jiang Hui Qun
Seller's Agent
Yuanyuan Liu
Prostage Realty, LLC
Buyer's Agent
Yuanyuan Liu
Prostage Realty, LLC
Sold Price
$1,350
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.97%
Original Mortgage
$116,250
Interest Rate
4.1%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 28, 2016
Sold by
Gamage Sunil M and Puwakdandawe Thamara
Bought by
Diplomat Property Manager Llc
Purchase Details
Closed on
Oct 11, 2007
Sold by
Olaya Maria
Bought by
Gamage Sunil M and Puwakdandawe Thamara W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$223,900
Interest Rate
6.49%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Sep 25, 2007
Sold by
Olaya Maria
Bought by
Gamage Sunil M and Puwakdandawe Thamara W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$223,900
Interest Rate
6.49%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 19, 2005
Sold by
Olaya Maria
Bought by
Olaya Maria
Purchase Details
Closed on
Feb 8, 2005
Sold by
Olaya Maria
Bought by
Olaya Maria
Purchase Details
Closed on
Jan 24, 2003
Sold by
Secretary Of Housing & Urb Dev
Bought by
Olaya Maria
Purchase Details
Closed on
May 8, 2002
Sold by
Thomas Troy E
Bought by
Secretary Of Housing & Urb Dev
Purchase Details
Closed on
Jun 3, 1998
Sold by
Sec Of Housing & Urban Dev
Bought by
Thomas Troy E
Purchase Details
Closed on
Feb 18, 1998
Sold by
Ghavami Bahman
Bought by
Sec Of Housing & Urban Dev
Purchase Details
Closed on
Aug 31, 1994
Sold by
Demas Stephen G
Bought by
Ghavami Bahman
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$69,950
Interest Rate
8.44%
Map
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $235,000 | Old Republic National Title In | |
| Deed | $155,000 | Certified Title Corp | |
| Foreclosure Deed | -- | None Available | |
| Deed | $223,900 | -- | |
| Deed | $223,900 | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | $95,000 | -- | |
| Deed | $82,000 | -- | |
| Deed | $68,100 | -- | |
| Deed | $76,800 | -- | |
| Deed | $71,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $132,000 | New Conventional | |
| Previous Owner | $116,250 | New Conventional | |
| Previous Owner | $223,900 | Purchase Money Mortgage | |
| Previous Owner | $223,900 | Purchase Money Mortgage | |
| Previous Owner | $200,000 | Stand Alone Second | |
| Previous Owner | $69,950 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/29/2024 04/29/24 | Rented | $1,700 | 0.0% | -- |
| 04/28/2024 04/28/24 | Off Market | $1,700 | -- | -- |
| 04/21/2024 04/21/24 | For Rent | $1,700 | 0.0% | -- |
| 05/26/2023 05/26/23 | Sold | $235,000 | -1.7% | $272 / Sq Ft |
| 04/06/2023 04/06/23 | For Sale | $239,000 | 0.0% | $277 / Sq Ft |
| 04/25/2017 04/25/17 | Rented | $1,350 | -99.1% | -- |
| 04/25/2017 04/25/17 | Under Contract | -- | -- | -- |
| 03/22/2017 03/22/17 | Sold | $155,000 | 0.0% | $179 / Sq Ft |
| 03/16/2017 03/16/17 | For Rent | $1,395 | 0.0% | -- |
| 02/09/2017 02/09/17 | Pending | -- | -- | -- |
| 02/02/2017 02/02/17 | For Sale | $154,900 | 0.0% | $179 / Sq Ft |
| 07/30/2013 07/30/13 | Rented | $1,300 | -10.3% | -- |
| 07/29/2013 07/29/13 | Under Contract | -- | -- | -- |
| 07/06/2013 07/06/13 | For Rent | $1,450 | +7.4% | -- |
| 06/29/2012 06/29/12 | Rented | $1,350 | 0.0% | -- |
| 06/28/2012 06/28/12 | Under Contract | -- | -- | -- |
| 06/06/2012 06/06/12 | For Rent | $1,350 | -- | -- |
Source: Bright MLS
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 |
|---|---|---|---|---|
| 2024 | $2,575 | $193,333 | $0 | $0 |
| 2023 | $3,018 | $175,000 | $52,500 | $122,500 |
| 2022 | $2,141 | $170,000 | $0 | $0 |
| 2021 | $1,460 | $165,000 | $0 | $0 |
| 2020 | $1,389 | $160,000 | $48,000 | $112,000 |
| 2019 | $1,396 | $160,000 | $48,000 | $112,000 |
| 2018 | $1,403 | $160,000 | $48,000 | $112,000 |
| 2017 | $2,096 | $165,000 | $0 | $0 |
| 2016 | -- | $155,000 | $0 | $0 |
| 2015 | $1,398 | $145,000 | $0 | $0 |
| 2014 | $1,398 | $135,000 | $0 | $0 |
Source: Public Records
Source: Bright MLS
MLS Number: MDMC2088236
APN: 09-02670944
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