$2,435,000
SOLD OCT 7, 2020

640 Magothy Rd Gibson Island, MD 21056

4 Beds
2.5 Baths
3,630 Sq Ft
2.26 Acres

Recently Sold

$671 Per Sq Ft

2% Below List Price

Highlights

  • Beach
  • Newspaper Service
  • Panoramic View
  • 24-Hour Security
  • Water Oriented
  • Gated Community

About This Home

As of October 2020

Welcome to glorious sunsets and spectacular Magothy River views! Located up a long, winding driveway on an extremely private, 2.26-acre lot, this contemporary cedar exterior house built in 1989 offers an open floor plan with wood ceilings and exposed wood beams with extensive use of glass. It has loads of sunlight and wonderful views of the Magothy River, the southwestern sky, and beyond spectacular sunsets! Features include 4 bedrooms, 2.5 baths, a great room with a soaring wood ceiling with exposed wood beams, a wood burning fireplace, an expansive master bedroom suite, an open, table-space kitchen, screened porch, a finished lower level with wood stove, an oversized, 2-car, attached garage, pretty landscaping with hardscaped terrace, a fish pond and waterfall, a secluded sitting area on a bluff overlooking the Magothy River, and 200 of bulkheaded waterfront.The floor plan enables large gatherings with the spacious great room opening to the screened porch, along with wrap-around decking accessed from the great room overlooking the pretty gardens and Magothy River. The kitchen opens to both the great room and screened porch and has close access to the garage and lower level. It includes a work island, KitchenAid appliances, and a desk area. There is a laundry room and half bath on the main level. Overlooking the Magothy, the main level master bedroom has its own walk-out deck, a spacious walk-in closet, an additional closet, a master bath with an oversized whirlpool tub, shower, and two separate vanity areas with sinks.There is a staircase on either side of the main level accessing the lower level where there are three bedrooms, a full bath, and a large L shaped family room with built in bookcases and wood stove. Glass sliders open to the patio with a fishpond and waterfall. There is an oversized two car garage with tall ceilings which could accommodate a second level for cars. Information on Gibson Island--A private island within one hour of Washington, D.C., and Baltimore; absolutely extraordinary setting - 1000 acres with seven miles of shoreline, two thirds of land undeveloped and owned by the Gibson Island Corporation, one third residential home sites, no need to cross the Bay Bridge - located on Western Shore of Maryland, 43-acre spring fed fresh water lake, enormous privacy and security--entry gatehouse staffed 24+Hours and Gibson Island Police Force (GIPD),Gibson Island Corporation Service Department for homeowners offering yard maintenance and landscaping and other services, full service yacht yard, 20 minute drive to BWI, airport and train station, private country club (membership by invitation) offering yachting, fine dining year-round, tennis, award-winning Charles Blair Macdonald designed 9-hole golf course, swimming, croquet, skeet shooting, and more, private tours by appointment. (C) Gibson Island Corporation, all rights reserved.

Last Agent to Sell the Property

Sarah Kanne

Gibson Island Real Estate INC License #651972 Listed on: 08/09/2020

Last Buyer's Agent

Sarah Kanne

Gibson Island Real Estate INC License #651972 Listed on: 08/09/2020

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $27,959

Year Built

  • Built in 1989

Lot Details

  • 2.26 Acre Lot
  • Southwest Facing Home
  • Stone Retaining Walls
  • Landscaped
  • Extensive Hardscape
  • Private Lot
  • Premium Lot
  • Sloped Lot
  • Partially Wooded Lot
  • Backs to Trees or Woods
  • Back and Front Yard
  • Property is in very good condition
  • Property is zoned R1

HOA Fees

  • $690 Monthly HOA Fees

Parking

  • 2 Car Direct Access Garage
  • Oversized Parking
  • Front Facing Garage
  • Garage Door Opener
  • Gravel Driveway

Property Views

  • River
  • Pond
  • Panoramic
  • Scenic Vista
  • Woods
  • Garden

Home Design

  • Contemporary Architecture
  • Shingle Roof
  • Asphalt Roof
  • Wood Siding
  • Cedar

Interior Spaces

  • 3,630 Sq Ft Home
  • Property has 2 Levels
  • Dual Staircase
  • Built-In Features
  • Beamed Ceilings
  • Wood Ceilings
  • Cathedral Ceiling
  • Ceiling Fan
  • Skylights
  • Recessed Lighting
  • 2 Fireplaces
  • Wood Burning Stove
  • Screen For Fireplace
  • Fireplace Mantel
  • Casement Windows
  • Sliding Doors
  • Entrance Foyer
  • Great Room
  • Family Room
  • Combination Dining and Living Room
  • Screened Porch
  • Utility Room
  • Security Gate

Kitchen

  • Breakfast Area or Nook
  • Eat-In Kitchen
  • Built-In Double Oven
  • Cooktop
  • Microwave
  • Dishwasher
  • Kitchen Island
  • Instant Hot Water

Flooring

  • Wood
  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • En-Suite Primary Bedroom
  • En-Suite Bathroom
  • Walk-In Closet
  • Soaking Tub
  • Walk-in Shower

Laundry

  • Laundry Room
  • Laundry on main level
  • Dryer
  • Washer

Outdoor Features

  • Water Oriented
  • River Nearby
  • Bulkhead
  • Pond
  • Stream or River on Lot
  • Lake Privileges
  • Balcony
  • Deck
  • Screened Patio
  • Waterfall on Lot
  • Terrace
  • Exterior Lighting

Schools

  • Bodkin Elementary School
  • Chesapeake Bay Middle School
  • Chesapeake High School

Utilities

  • Forced Air Zoned Heating and Cooling System
  • Heat Pump System
  • 60 Gallon+ Electric Water Heater
  • On Site Septic
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 020335012162150

Community Details

Overview

  • Association fees include common area maintenance, security gate, trash
  • Gibson Island Corporation HOA, Phone Number (410) 255-1414
  • Gibson Island Subdivision
  • Community Lake

Amenities

  • Newspaper Service
  • Picnic Area
  • Common Area

Recreation

  • Beach
  • Recreational Area
  • Jogging Path
  • Bike Trail

Security

  • 24-Hour Security
  • Gated Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$27,959

Year Built

Built in 1989

Lot Details

0

HOA Fees

$690 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: Detached
  • Architectural Style: Contemporary
  • Ownership: Fee Simple
  • Historic: No
  • Home Warranty: No
  • New Construction: No
  • Story List: Lower 1, Main, Upper 1
  • Federal Flood Zone: No
  • Year Built: 1989
  • Automatically Close On Close Date: No
  • Building Winterized: Yes
  • Remarks Public: Welcome to glorious sunsets and spectacular Magothy River views! Located up a long, winding driveway on an extremely private, 2.26-acre lot, this contemporary cedar exterior house built in 1989 offers an open floor plan with wood ceilings and exposed wood beams with extensive use of glass. It has loads of sunlight and wonderful views of the Magothy River, the southwestern sky, and beyond spectacular sunsets! Features include 4 bedrooms, 2.5 baths, a great room with a soaring wood ceiling with exposed wood beams, a wood burning fireplace, an expansive master bedroom suite, an open, table-space kitchen, screened porch, a finished lower level with wood stove, an oversized, 2-car, attached garage, pretty landscaping with hardscaped terrace, a fish pond and waterfall, a secluded sitting area on a bluff overlooking the Magothy River, and 200 of bulkheaded waterfront.The floor plan enables large gatherings with the spacious great room opening to the screened porch, along with wrap-around decking accessed from the great room overlooking the pretty gardens and Magothy River. The kitchen opens to both the great room and screened porch and has close access to the garage and lower level. It includes a work island, KitchenAid appliances, and a desk area. There is a laundry room and half bath on the main level. Overlooking the Magothy, the main level master bedroom has its own walk-out deck, a spacious walk-in closet, an additional closet, a master bath with an oversized whirlpool tub, shower, and two separate vanity areas with sinks.There is a staircase on either side of the main level accessing the lower level where there are three bedrooms, a full bath, and a large L shaped family room with built in bookcases and wood stove. Glass sliders open to the patio with a fishpond and waterfall. There is an oversized two car garage with tall ceilings which could accommodate a second level for cars. Information on Gibson Island--A private island within one hour of Washington, D.C., and Baltimore; absolutely extraordinary setting - 1000 acres with seven miles of shoreline, two thirds of land undeveloped and owned by the Gibson Island Corporation, one third residential home sites, no need to cross the Bay Bridge - located on Western Shore of Maryland, 43-acre spring fed fresh water lake, enormous privacy and security--entry gatehouse staffed 24+Hours and Gibson Island Police Force (GIPD),Gibson Island Corporation Service Department for homeowners offering yard maintenance and landscaping and other services, full service yacht yard, 20 minute drive to BWI, airport and train station, private country club (membership by invitation) offering yachting, fine dining year-round, tennis, award-winning Charles Blair Macdonald designed 9-hole golf course, swimming, croquet, skeet shooting, and more, private tours by appointment. (C) Gibson Island Corporation, all rights reserved.
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Cooktop, Dishwasher, Dryer, Refrigerator, Oven - Double, Washer, Instant Hot Water, Microwave, Oven - Wall, Water Heater
  • Flooring Type: Hardwood, Carpet, Ceramic Tile
  • Interior Amenities: Kitchen - Table Space, Combination Dining/Living, Primary Bath(s), Wood Floors, Built-Ins, Ceiling Fan(s), Dining Area, Kitchen - Island, Recessed Lighting, Stall Shower, Walk-In Closet(s), Stove - Wood, Additional Stairway, Breakfast Area, Skylight(s), Soaking Tub
  • Window Features: Casement, Skylights
  • Fireplace Features: Mantel(s), Screen
  • Fireplaces Count: 2
  • Fireplace: Yes
  • Door Features: Sliding Glass
  • Wall Ceiling Types: High, Wood Ceilings, 9'+ Ceilings, Beamed Ceilings, Cathedral Ceilings
  • Levels Count: 2
  • Room List: Primary Bedroom, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen, Family Room, Foyer, Great Room, Laundry, Utility Room, Bathroom 2, Primary Bathroom, Half Bath, Screened Porch
  • Basement: No
  • Laundry Type: Main Floor
  • Total Sq Ft: 3630
  • Living Area Sq Ft: 3630
  • Price Per Sq Ft: 687.33
  • Above Grade Finished Sq Ft: 3630
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 640

Beds/Baths

  • Bedrooms: 4
  • All Lower Level Bedrooms: 3
  • Lower Level Bedroom: 3
  • Total Bathrooms: 3
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Upper Level Bathrooms: 1
  • Lower Levels Bathrooms: 1
  • Upper Level Bathrooms: 1.00
  • Lower Levels Bathrooms: 1.00
  • Upper Level Full Bathrooms: 1
  • Lower Level Full Bathrooms: 1
  • Lower Level Full Bathrooms: 1
  • Main Level Half Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Other Structures List: Garage(s)
  • Construction Materials: Cedar, Glass, Wood Siding
  • Exterior Features: Water Falls, Extensive Hardscape, Exterior Lighting, Stone Retaining Walls
  • Roof: Asphalt, Shingle
  • View: River, Garden/Lawn, Trees/Woods, Water, Panoramic, Pond, Scenic Vista
  • Water Access: No
  • Water Body Name: Magothy
  • Water Body Type: River
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: No Pool
  • Water View: Yes

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Parking Features: Gravel Driveway, Private
  • Garage Features: Garage Door Opener, Oversized, Garage - Front Entry, Inside Access
  • Attached Garage Spaces: 2
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: Attached Garage, Driveway

Utilities

  • Refuse: 298.00
  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C, Ceiling Fan(s), Heat Pump(s), Zoned
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s), Forced Air, Zoned
  • Heating: Yes
  • Hot Water: Electric, 60+ Gallon Tank
  • Security: 24 Hour Security, Security Gate
  • Sewer/Septic System: On Site Septic
  • Utilities: Electric Available, Phone Available, Sewer Available, Water Available, Cable Tv
  • Water Source: Public

Condo/Co-op/Association

  • HOA Fees: 690.00
  • HOA Fee Frequency: Monthly
  • Condo Co-Op Association: No
  • HOA Condo Co-Op Amenities: Gated Community, Security, Jog/Walk Path, Beach, Bike Trail, Common Grounds, Lake, Newspaper Service, Picnic Area, Non-Lake Recreational Area, Water/Lake Privileges
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Security Gate, Trash
  • HOA Name: GIBSON ISLAND CORPORATION
  • HOA Phone: 410-255-1414
  • HOA: Yes
  • Senior Community: No
  • Association Recreation Fee: No

Schools

  • School District: ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
  • Elementary School: BODKIN
  • Middle School: CHESAPEAKE BAY
  • High School: CHESAPEAKE
  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Key: 121140671932
  • School District Source: Listing Agent
  • Elementary School: BODKIN
  • High School: CHESAPEAKE
  • Middle Or Junior School: CHESAPEAKE BAY

Lot Info

  • Horses: No
  • Additional Parcels: No
  • Improvement Assessed Value: 474300.00
  • Land Assessed Value: 1816300.00
  • Land Use Code: 011
  • Lot Features: Bulkheaded, Front Yard, Landscaping, Partly Wooded, Private, Rear Yard, Sloping, Backs To Trees, Pond, Premium, Trees/Wooded
  • Lot Size Acres: 2.26
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 98446.00
  • Outdoor Living Structures: Balcony, Deck(s), Terrace, Patio(s), Wrap Around, Screened, Porch(es)
  • Property Attached Yn: No
  • Property Condition: Very Good
  • Year Assessed: 2020
  • Zoning: R1
  • In City Limits: No

Green Features

  • Clean Green Assessed: No

Rental Info

  • Ground Rent Exists: No
  • Vacation Rental: No
  • Property Manager: No

Tax Info

  • Assessor Parcel Number: 15224220
  • Tax Annual Amount: 27958.65
  • Assessor Parcel Number: 020335012162150
  • Tax Total Finished Sq Ft: 3704
  • Tax Year: 2021
  • Close Date: 10/07/2020

MLS Schools

  • School District Name: ANNE ARUNDEL COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 9, 2020
Closed on
Oct 7, 2020
Sold by
Forster Francine M
Bought by
Lipson David and Jakovic Ellen M
Seller's Agent
Sarah Kanne
Gibson Island Real Estate INC
Buyer's Agent
Sarah Kanne
Gibson Island Real Estate INC
List Price
$2,495,000
Sold Price
$2,435,000
Premium/Discount to List
-$60,000
-2.4%
Current Estimated Value
$3,239,875

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$804,875
Avg. Annual Appreciation
6.75%
Original Mortgage
$1,439,065
Outstanding Balance
$1,288,263
Interest Rate
2.62%
Mortgage Type
New Conventional
Estimated Equity
$2,047,454

Purchase Details

Closed on
Jun 18, 2012
Sold by
Forster William H and Forster Francine M
Bought by
Forster Francine M

Purchase Details

Closed on
Apr 12, 2001
Sold by
Reese Errol L
Bought by
Forster William H and Forster Francine M
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $2,435,000 Atlantic Title & Escrow Co
Interfamily Deed Transfer -- None Available
Deed $1,250,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,439,065 New Conventional
Closed $750,000 New Conventional
Previous Owner $170,000 Credit Line Revolving
Closed -- No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/07/2020 10/07/20 Sold $2,435,000 -2.4% $671 / Sq Ft
08/09/2020 08/09/20 Pending -- -- --
08/09/2020 08/09/20 For Sale $2,495,000 0.0% $687 / Sq Ft
09/26/2017 09/26/17 Rented $6,750 0.0% --
09/26/2017 09/26/17 Under Contract -- -- --
09/05/2017 09/05/17 For Rent $6,750 -- --
Source: Bright 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
2024 $35,677 $2,637,200 $2,041,300 $595,900
2023 $27,537 $2,521,667 $0 $0
2022 $31,347 $2,406,133 $0 $0
2021 $0 $2,290,600 $1,816,300 $474,300
2020 $27,959 $2,143,800 $0 $0
2019 $57 $1,997,000 $0 $0
2018 $18,761 $1,850,200 $1,307,300 $542,900
2017 $18,982 $1,850,200 $0 $0
2016 $57 $1,850,200 $0 $0
2015 $57 $2,406,900 $0 $0
2014 -- $2,669,700 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: MDAA441686

Bright MLS

APN: 03-350-12162150