NOT LISTED FOR SALE

509 E 16th St Unit 3rd Floor Ocean City, NJ 08226

Estimated Value: $724,095 - $971,000

3 Beds
1.5 Baths
-- Sq Ft
2,701 Sq Ft Lot Lot

Sale Details

Date Sold: December 30, 2020

Last sale price $407,500

Est. 106% increase in value since last sale

Current estimated payment $4,819 / mo

106 Days on Market

Highlights

  • Water Views
  • Unit is on the top floor
  • Corner Lot
  • Ocean City Primary School Rated A
  • Wood Flooring
  • Furnished

About This Home

As of December 2020

Tremendous location! Just one street to the Beach and Boardwalk, this Third Floor Condo Features: 3 Bedrooms, 1.5 Baths, Spacious Newer Kitchen with Granite Countertops, Tile Backsplash, Newer Appliances, Large Covered Front Deck with Ocean Views, Hardwood Flooring in Living & dining Room, Newer Windows, Newer Gas Heat & AC systems, two (2) parking spots, Nicely Furnished & Decorated... Great Property! Great Value! Great Rental Potential! See you on the Beach!

Last Agent to Sell the Property

Michael Contino

BHHS FOX and ROACH-Simpson OC Listed on: 07/27/2020

BHHS FOX and ROACH-Simpson OC

Last Buyer's Agent

Cheryl Huber

BHHS FOX and ROACH-109 34th OC

BHHS FOX and ROACH-109 34th OC

Property Details

Home Type

  • Condominium

Year Built

  • Built in 1920

Lot Details

  • 2,701

Parking

  • 2 Parking Spaces

Home Design

  • Vinyl Siding

Interior Spaces

  • 3-Story Property
  • Furnished
  • Ceiling Fan
  • Blinds
  • Great Room
  • Dining Room
  • Water Views

Kitchen

  • Self-Cleaning Oven
  • Stove
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 3 Bedrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Location

  • Unit is on the top floor

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Community Details

Recreation

  • Community Boardwalk
  • Outdoor Community Showers

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Year Built

Built in 1920

Lot Details

2,701 Sq Ft Lot

Listing Details

  • Class: Condominium
  • Type: Condo
  • Also Includes: Blinds, Furnished
  • Year Built: 1920
  • Age: 25+ Years
  • Number Of Levels In Unit: One
  • Number Of Stories In Bldg: Three To Five
  • Unit Location: Top Floor
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 2

Interior Features

  • Appliances: Disposal, Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Self Cleaning Oven, Washer
  • Bedrooms: 3
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Other Rooms: Dining Room, Great Room, Laundry/Utility Room
  • Common Area Features: Outside Shower

Exterior Features

  • Siding Exterior: Vinyl

Garage/Parking

  • Parking Exterior: Two Car

Utilities

  • Air Conditioner: Ceiling Fan(s), Central
  • Heating: Forced Air, Gas-Natural
  • Sewer: Public Sewer
  • Water: Public Water
  • Water Heater: Gas

Condo/Co-op/Association

  • Management: Co-Owner

Lot Info

  • Location: Corner, Boardwalk Area, Water View

Rental Info

  • Pets: Yes

Multi Family

  • Unit Features: Hardwood Floors, Pets Allowed, Wall To Wall Carpet

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 27, 2020
Closed on
Dec 30, 2020
Sold by
Smith Mark E
Bought by
Redacted Upon Request
Seller's Agent
Michael Contino
BHHS FOX and ROACH-Simpson OC
Buyer's Agent
Cheryl Huber
BHHS FOX and ROACH-109 34th OC
List Price
$479,900
Sold Price
$407,500
Premium/Discount to List
-$72,400
-15.09%
Current Estimated Value
$839,774

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$432,274
Avg. Annual Appreciation
14.62%
Original Mortgage
$366,750
Outstanding Balance
$327,326
Interest Rate
2.71%
Mortgage Type
New Conventional
Estimated Equity
$512,448

Purchase Details

Closed on
May 21, 2004
Sold by
Gray Scott A
Bought by
Smith Mark E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,000
Interest Rate
4.25%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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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
Redacted Upon Request $407,500 Fidelity National Title
Smith Mark E $380,000 Surety Title Corporation
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Redacted Upon Request $366,750
Previous Owner Smith Mark E $304,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/30/2020 12/30/20 Sold $407,500 -5.2% --
11/10/2020 11/10/20 Pending -- -- --
10/24/2020 10/24/20 Price Changed $429,900 -1.2% --
10/17/2020 10/17/20 Price Changed $435,000 -1.1% --
09/25/2020 09/25/20 Price Changed $439,900 -5.4% --
08/26/2020 08/26/20 Price Changed $465,000 -3.1% --
07/27/2020 07/27/20 For Sale $479,900 -- --
Source: South Jersey Shore Regional 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
2025 $4,408 $392,900 $284,200 $108,700
2024 $4,408 $392,900 $284,200 $108,700
2023 $4,208 $392,900 $284,200 $108,700
2022 $4,043 $392,900 $284,200 $108,700
2021 $2,931 $392,900 $284,200 $108,700
2020 $3,843 $392,900 $284,200 $108,700
2019 $3,799 $392,900 $284,200 $108,700
2018 $3,764 $392,900 $284,200 $108,700
2017 $3,705 $392,900 $284,200 $108,700
2016 $3,564 $392,900 $284,200 $108,700
2015 $3,516 $392,900 $284,200 $108,700
2014 $3,465 $392,900 $284,200 $108,700
Source: Public Records

Agents Affiliated with this Home

  • Michael Contino

    Seller's Agent in 2020

    Michael Contino

    BHHS Fox & Roach

    (609) 335-9100

    324 in this area

    373 Total Sales

    Michael Contino
    Section Image
  • Cheryl Huber

    Buyer's Agent in 2020

    Cheryl Huber

    BHHS Fox & Roach

    (609) 602-2322

    171 in this area

    272 Total Sales

    Cheryl Huber
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 539799

South Jersey Shore Regional MLS

APN: 08-01502-0000-00002-0000-C3

New Jersey Cape May County Ocean City 08226

509 E 16th St Unit 3rd Floor, Ocean City, NJ

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