NOT LISTED FOR SALE

617 Ocean Ave Ocean City, NJ 08226

Estimated Value: $1,215,000 - $1,499,000

-- Bed
-- Bath
2,748 Sq Ft
$505/Sq Ft Est. Value

Last Sold November 16, 2021

Last sale price $875,000 $318 Per Sq Ft

Est. 59% increase in value since last sale

Current estimated payment $7,833/month

58 Days on Market

Highlights

  • The property is located in a historic district
  • Furnished
  • Patio
  • Ocean City Primary School Rated A
  • Eat-In Kitchen
  • 4-minute walk to Veterans Memorial Park

About This Home

As of November 2021

Ocean City NJ Duplex. 3 Bedrooms 2 Full Baths Upstairs and 2 Bedrooms 2 Full Baths Downstairs. 6th And Ocean Location Provides Easy Walking Distance To The Boardwalk And Downtown. Both Units Are Large at +/- 1300 Sq Ft Each. Features, Hardwood Flooring, Granite Counters And Updated Kitchen Downstairs, Central Air Downstairs, Updated Baths, 2 Gas Fireplaces Downstairs, Wood Burning Fire Place Upstairs, Laundry In Both Units, Back Deck, Back Patio, Outside Shower, And Plenty Of Parking. Sold Fully Furnished And Equipped. Currently Used As A "Cash Flow Positive" Rental Income Investment. Gross Rental Income Of $74,005. Contact For Income And Expenses. Many Possible Uses Exist, Continue Operating A Profitable Rental Business, Use 1 Unit As Personal Residence, Convert Into Condos, Etc. For 3D Virtual Tour, Copy and Paste: https://bit.ly/617Ocean

Last Agent to Sell the Property

Adam D'Annunzio

Keller Williams Realty Jersey Shore-Ocean City Listed on: 08/04/2021

Keller Williams Realty Jersey Shore-Ocean City

Last Buyer's Agent

Catherine Cipolla

GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY License #2183046

GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1910

Lot Details

  • 3,920

Home Design

  • Duplex
  • Vinyl Siding

Interior Spaces

  • Furnished
  • Drapes & Rods
  • Blinds
  • Living Room
  • Dining Room
  • Crawl Space

Kitchen

  • Eat-In Kitchen
  • Stove
  • Microwave
  • Dishwasher

Laundry

  • Dryer
  • Washer

Parking

  • 3 Parking Spaces
  • Parking Pad

Outdoor Features

  • Outdoor Shower
  • Patio

Utilities

  • Central Air
  • Window Unit Cooling System
  • Hot Water Heating System
  • Heating System Uses Natural Gas
  • Separate Meters
  • Gas Water Heater

Additional Features

  • Lot Dimensions are 30x130
  • The property is located in a historic district

Community Details

Overview

  • 2 Units

Recreation

  • Community Boardwalk

Property Details

Home Type

Multi-Family

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Duplex
  • Also Includes: Blinds, Curtains, Furnished
  • Year Built: 1910
  • Age: 25+ Years
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Washer
  • Basement: Crawl Space
  • Other Rooms: Dining Room, Eat In Kitchen, Kitchen, Living Room

Exterior Features

  • Outside Features: Outside Shower, Patio
  • Siding Exterior: Vinyl

Garage/Parking

  • Driveway: Concrete
  • Parking Exterior: Three Or More Cars, Parking Pad

Utilities

  • Air Conditioner: Central, Window Units
  • Heating: Gas-Natural, Hot Water
  • Sewer: Public Sewer
  • Water: Public
  • Water Heater: Gas

Lot Info

  • Location: Historical District, Boardwalk Area
  • Lot Dimensions: 30x130

Rental Info

  • Rental Information: 100 Percent Occupancy, Seasonal, Weekly

Multi Family

  • Number Of Units: 2
  • Number Of2 Bedroom Units: 1
  • Number Of3 Bedroom Units: 1
  • Separate Meters: Electric

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 4, 2021
Closed on
Nov 16, 2021
Sold by
Laliberte Scott C and Laliberte Elizabeth
Bought by
Cruickshank James R and Cruickshank Jill S
Seller's Agent
Adam D'Annunzio
Keller Williams Realty Jersey Shore-Ocean City
Buyer's Agent
Catherine Cipolla
GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY
List Price
$885,000
Sold Price
$875,000
Premium/Discount to List
-$10,000
-1.13%
Current Estimated Value
$1,388,848

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$513,848
Avg. Annual Appreciation
12.05%
Original Mortgage
$743,750
Outstanding Balance
$681,518
Interest Rate
2.99%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$707,330

Purchase Details

Closed on
Dec 10, 2020
Sold by
Laliberte Scott C
Bought by
Laliberte Scott C and Laliberte Elizabeth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$505,000
Interest Rate
2.8%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Listed on
Dec 13, 2013
Closed on
Mar 21, 2014
Sold by
Dukeman Geraldine and Dukeman Gerri
Bought by
Burton Nancy
Seller's Agent
MICHAEL DUKEMAN
Keller Williams Realty Jersey Shore-Ocean City
List Price
$525,000
Sold Price
$525,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.59%
Original Mortgage
$420,000
Interest Rate
4.27%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 31, 2003

Purchase Details

Closed on
Dec 31, 2002
Sold by
Heenan Mildred M
Bought by
Dukeman Geraldine and Dukeman Edward D

Purchase Details

Closed on
Dec 31, 2001
Sold by
Heenan Mildred M
Bought by
Dukeman Geraldine and Dukeman Edward D

Purchase Details

Closed on
May 13, 2000
Sold by
Dukeman Edward
Bought by
Binder William and Binder Nancy

Purchase Details

Closed on
Apr 7, 1992
Sold by
Heenan William J and Heenan Mildred M
Bought by
Heenan Mildred M and Heenan Dukeman,Gerri
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
Cruickshank James R $875,000 None Available
Laliberte Scott C -- Misc Company
Laliberte Scott C -- Foundation Title
Burton Nancy $525,000 Old Republic National Title
-- $16,500 --
Dukeman Edward D $16,537 --
Dukeman Geraldine $22,000 --
Dukeman Geraldine $20,000 --
Binder William $275,000 --
Binder William $275,000 --
Heenan Mildred M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cruickshank James R $743,750
Previous Owner Laliberte Scott C $505,000
Previous Owner Burton Nancy $420,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/16/2021 11/16/21 Sold $875,000 -1.1% $318 / Sq Ft
10/01/2021 10/01/21 Pending -- -- --
08/04/2021 08/04/21 For Sale $885,000 +31.1% $322 / Sq Ft
06/10/2019 06/10/19 Sold $675,000 -6.9% $246 / Sq Ft View Prior Sale
04/25/2019 04/25/19 Pending -- -- --
04/24/2019 04/24/19 Price Changed $724,900 -3.2% $264 / Sq Ft
04/01/2019 04/01/19 For Sale $749,000 +42.7% $273 / Sq Ft
02/21/2014 02/21/14 Sold $525,000 0.0% $191 / Sq Ft View Prior Sale
01/15/2014 01/15/14 Pending -- -- --
12/13/2013 12/13/13 For Sale $525,000 -- $191 / Sq Ft
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 $6,333 $564,400 $322,600 $241,800
2024 $6,333 $564,400 $322,600 $241,800
2023 $6,045 $564,400 $322,600 $241,800
2022 $5,808 $564,400 $322,600 $241,800
2021 $5,672 $564,400 $322,600 $241,800
2020 $5,576 $570,100 $322,600 $247,500
2019 $5,151 $532,700 $322,600 $210,100
2018 $5,103 $532,700 $322,600 $210,100
2017 $5,023 $532,700 $322,600 $210,100
2016 $4,832 $532,700 $322,600 $210,100
2015 $4,768 $532,700 $322,600 $210,100
2014 $4,698 $532,700 $322,600 $210,100
Source: Public Records

Agents Affiliated with this Home

  • Adam D'Annunzio

    Seller's Agent in 2021

    Adam D'Annunzio

    Keller Williams Realty Jersey Shore-Ocean City

    (609) 225-4975

    55 in this area

    127 Total Sales

    Adam D'Annunzio
    Section Image

  • C

    Buyer's Agent in 2021

    Catherine Cipolla

    GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY

    (609) 703-2964

    1 in this area

    1 Total Sale

    Catherine Cipolla
    Section Image
  • Douglas Weiland

    Seller's Agent in 2019

    Douglas Weiland

    Compass New Jersey-Ocean City (O463H)

    (609) 226-3344

    13 in this area

    23 Total Sales

    Douglas Weiland
    Section Image
  • Harry Vanderslice

    Seller Co-Listing Agent in 2019

    Harry Vanderslice

    Compass New Jersey-Ocean City (O463H)

    (609) 675-1575

    71 in this area

    97 Total Sales

    Harry Vanderslice
    Section Image
  • MICHAEL DUKEMAN

    Seller's Agent in 2014

    MICHAEL DUKEMAN

    Keller Williams Realty Jersey Shore-Ocean City

    (609) 367-2908

    5 in this area

    6 Total Sales

    MICHAEL DUKEMAN
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 553901

South Jersey Shore Regional MLS

APN: 08-00601-0000-00007

New Jersey Cape May County Ocean City 08226

617 Ocean Ave, Ocean City, NJ

Not Listed for Sale

MultiFamily

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