508 Rhode Island Ave Somers Point, NJ 08244
Estimated Value: $327,000 - $383,000
2
Beds
2
Baths
946
Sq Ft
$379/Sq Ft
Est. Value
Highlights
- Greenhouse
- Deck
- Wood Flooring
- Mainland Regional High School Rated A-
- Living Room with Fireplace
- Main Floor Primary Bedroom
About This Home
As of February 2024PROERTY IS UNDER CONTRACT - NO MORE SHOWINGS! MULTIPLE OFFERS WERE RECEIVED! This amazing home at 508 Rhode Island stands out as the ultimate vacation home, offering a unique design that would also be perfect for year-round living. With separate living areas on both floors, it's perfect for downsizing, providing ample storage in the full basement. The first floor's open layout with a kitchen, breakfast bar, and a cozy gas log fireplace creates a welcoming atmosphere. The primary bedroom boasts a full wall of closet space and a conveniently adjacent bathroom. The second floor, accessed through a “hidden” stairwell, transforms into an ideal suite for in-laws, young adults, or a peaceful retreat. Complete with a living/bedroom area, private bath, and spacious walk-in closet, it's versatile for various activities. The bright and dry basement houses the gas heating system, hot water heater, and laundry center. In the warmer months, the landscaped rear yard becomes an entertainment hub with a garden, picnic area, fire pit, and conversational space. Conveniently located near Ocean City beaches and amenities, this home is a SHORE bet!
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,006
Year Built
- Built in 1932
Lot Details
- Lot Dimensions are 50 x 100
- Fenced
Parking
- 1 Parking Space
Home Design
- Bungalow
- Vinyl Siding
Interior Spaces
- Partially Furnished
- Ceiling Fan
- Gas Log Fireplace
- Blinds
- Great Room
- Living Room with Fireplace
- Workshop
Kitchen
- Eat-In Kitchen
- Stove
- Microwave
- Dishwasher
- Kitchen Island
- Disposal
Flooring
- Wood
- Carpet
- Laminate
- Tile
Bedrooms and Bathrooms
- 2 Bedrooms
- Primary Bedroom on Main
- Walk-In Closet
- 2 Full Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Unfinished Basement
- Basement Fills Entire Space Under The House
- Exterior Basement Entry
Home Security
- Storm Screens
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Outdoor Features
- Deck
- Greenhouse
- Shed
Utilities
- Forced Air Zoned Heating and Cooling System
- Heating System Uses Natural Gas
- Gas Water Heater
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 6, 2024
Closed on
Feb 13, 2024
Sold by
Bitzer Jon S
Bought by
Tadley Thomas
Seller's Agent
Barb Kyle
BALSLEY/LOSCO
Buyer's Agent
Kimann Calabrese
BHHS FOX and ROACH-Margate
List Price
$335,000
Sold Price
$345,000
Premium/Discount to List
$10,000
2.99%
Views
110
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
$13,323
Avg. Annual Appreciation
2.85%
Purchase Details
Closed on
Nov 29, 2011
Sold by
Gavin Jeremy
Bought by
Bitzer Jon S and Bitzer Patricia A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
4.1%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 8, 2009
Sold by
Gavin Gerard M and Gavin Jeremy
Bought by
Gavin Jeremy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$137,250
Interest Rate
5.36%
Mortgage Type
Stand Alone First
Purchase Details
Closed on
Jan 16, 2009
Sold by
Gramlich Leonard J and Gramlich Joanne M
Bought by
Gavin Gerard M and Gavin Jeremy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6%
Mortgage Type
Seller Take Back
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Tadley Thomas | $345,000 | Trident Land Transfer | |
| Bitzer Jon S | $140,000 | Surety Title | |
| Gavin Jeremy | -- | First American Title Ins Co | |
| Gavin Gerard M | $115,000 | The Title Company Of Jersey |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Bitzer Jon S | $110,000 | |
| Previous Owner | Gavin Jeremy | $137,250 | |
| Previous Owner | Gavin Gerard M | $100,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/13/2024 02/13/24 | Sold | $345,000 | +3.0% | $365 / Sq Ft |
| 01/11/2024 01/11/24 | Pending | -- | -- | -- |
| 01/06/2024 01/06/24 | For Sale | $335,000 | -- | $354 / Sq Ft |
Source: South Jersey Shore Regional 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 |
|---|---|---|---|---|
| 2024 | $5,006 | $140,000 | $55,000 | $85,000 |
| 2023 | $4,677 | $140,000 | $55,000 | $85,000 |
| 2022 | $4,677 | $140,000 | $55,000 | $85,000 |
| 2021 | $4,607 | $140,000 | $55,000 | $85,000 |
| 2020 | $4,514 | $140,000 | $55,000 | $85,000 |
| 2019 | $4,386 | $140,000 | $55,000 | $85,000 |
| 2018 | $4,294 | $140,000 | $55,000 | $85,000 |
| 2017 | $4,140 | $140,000 | $55,000 | $85,000 |
| 2016 | $3,952 | $140,000 | $55,000 | $85,000 |
| 2015 | $3,912 | $140,000 | $55,000 | $85,000 |
| 2014 | $3,780 | $140,000 | $55,000 | $85,000 |
Source: Public Records
Agents Affiliated with this Home
-
Barb Kyle
Seller's Agent in 2024
Barb Kyle
BALSLEY/LOSCO
(609) 226-4188
136 Total Sales
-
Kimann Calabrese
Buyer's Agent in 2024
Kimann Calabrese
BHHS Fox & Roach
(609) 432-2029
24 Total Sales
Map
Source: South Jersey Shore Regional MLS
MLS Number: 581024
APN: 21-01320-0000-00010
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