NOT LISTED FOR SALE

5541 Bay Ave Unit 1 Ocean City, NJ 08226

Estimated Value: $994,080 - $1,138,000

4 Beds
2 Baths
-- Sq Ft
4,617 Sq Ft Lot

Last Sold April 19, 2013

Last sale price $490,000

Est. 119% increase in value since last sale

Current estimated payment $6,159/month

10 Days on Market

Highlights

  • Ground Level Unit
  • Kitchen Island
  • Ceiling Fan
  • Ocean City Primary School Rated A
  • Forced Air Heating and Cooling System
  • Dining Area

About This Home

As of April 2013

Amazingly beautiful four bedroom condo. This unit features a large bright open concept living space with w/w carpet, ceiling fan, fireplace and glass sliders to a large deck perfect for enjoying those summer breezes. The kitchen has beautiful cabinets and a center island where one can cook and still be part of the entertainment in the living space. Two of the four large bright bedrooms also have sliders to the huge rear deck. The outside has a one car garage and an outside shower.

Last Agent to Sell the Property

Christopher Ferzoco

Keller Williams Realty Jersey Shore-Ocean City Listed on: 02/26/2013

Keller Williams Realty Jersey Shore-Ocean City

Last Buyer's Agent

Christopher Oliva

Compass New Jersey-Ocean City (O463E)

Compass New Jersey-Ocean City (O463E)

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $5,450

Year Built

  • Built in 2004

Lot Details

  • 4,617

Home Design

  • Vinyl Siding

Interior Spaces

  • 2-Story Property
  • Ceiling Fan
  • Gas Log Fireplace
  • Blinds
  • Dining Area
  • Carpet

Kitchen

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

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Location

  • Ground Level Unit

Utilities

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

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,450

Year Built

Built in 2004

Lot Details

0

Listing Details

  • Class: Condominium
  • Type: Condo
  • Also Includes: Blinds
  • Year Built: 2004
  • Age: 6 To 10 Years
  • Number Of Levels In Unit: One
  • Number Of Stories In Bldg: Two
  • Unit Location: First Floor
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Appliances: Disposal, Dishwasher, Dryer, Electric Stove, Microwave, Refrigerator, Self Cleaning Oven, Washer
  • Fireplace: Gas Log
  • Bedrooms: 4
  • Full Bathrooms: 2
  • Other Rooms: Dining Area

Exterior Features

  • Siding Exterior: Vinyl

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

Multi Family

  • Unit Features: Fireplace(s), Kitchen Center Island, Wall To Wall Carpet

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 26, 2013
Closed on
Apr 19, 2013
Sold by
Cheesman Joan A
Bought by
Menditto James A and Menditto Joyce C
Seller's Agent
Christopher Ferzoco
Keller Williams Realty Jersey Shore-Ocean City
Buyer's Agent
Christopher Oliva
Compass New Jersey-Ocean City (O463E)
List Price
$490,000
Sold Price
$490,000
Current Estimated Value
$1,071,770

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$581,770
Avg. Annual Appreciation
6.49%
Original Mortgage
$290,000
Outstanding Balance
$205,625
Interest Rate
3.57%
Mortgage Type
New Conventional
Estimated Equity
$866,145

Purchase Details

Closed on
Oct 15, 2004
Sold by
Sea Breeze Development Llc
Bought by
Cheesman Joseph H and Cheesman Joan A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$424,000
Interest Rate
5.87%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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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
Menditto James A $490,000 North American Title
Cheesman Joseph H $530,000 Mutual Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Menditto James A $290,000
Previous Owner Cheesman Joseph H $424,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/19/2013 04/19/13 Sold $490,000 0.0% --
03/08/2013 03/08/13 Pending -- -- --
02/26/2013 02/26/13 For Sale $490,000 -- --
Source: South Jersey Shore Regional MLS

Tax History Compared to Growth

Source: Public Records

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 $5,450 $485,700 $223,200 $262,500
2024 $5,450 $485,700 $223,200 $262,500
2023 $5,202 $485,700 $223,200 $262,500
2022 $4,998 $485,700 $223,200 $262,500
2021 $3,623 $485,700 $223,200 $262,500
2020 $4,750 $485,700 $223,200 $262,500
2019 $4,697 $485,700 $223,200 $262,500
2018 $4,653 $485,700 $223,200 $262,500
2017 $4,580 $485,700 $223,200 $262,500
2016 $4,405 $485,700 $223,200 $262,500
2015 $4,347 $485,700 $223,200 $262,500
2014 $4,284 $485,700 $223,200 $262,500
Source: Public Records

Agents Affiliated with this Home

  • Christopher Ferzoco

    Seller's Agent in 2013

    Christopher Ferzoco

    Keller Williams Realty Jersey Shore-Ocean City

    (609) 408-9817

    21 in this area

    255 Total Sales

    Christopher Ferzoco
    Section Image
  • Christopher Oliva

    Buyer's Agent in 2013

    Christopher Oliva

    Compass New Jersey-Ocean City (O463E)

    (609) 602-0508

    43 in this area

    82 Total Sales

    Christopher Oliva
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 407318

South Jersey Shore Regional MLS

APN: 08-05506-0000-00002-0000-C1

New Jersey Cape May County Ocean City 08226

5541 Bay Ave Unit 1, Ocean City, NJ

This home is located at 5541 Bay Ave Unit 1, Ocean City, NJ 08226 since 26 February 2013 and is currently estimated at $1,071,770. This property was built in 2004. 5541 Bay Ave Unit 1 is a home located in Cape May County with nearby schools including Ocean City Primary School, Ocean City Intermediate School, and Ocean City High School.

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