NOT LISTED FOR SALE

Patrician Towers 8 Olive Ave Unit 301 Rehoboth Beach, DE 19971

Estimated Value: $771,000 - $1,238,851

3 Beds
2 Baths
1,000 Sq Ft
653 Sq Ft Lot

Last Sold November 14, 2012

Last sale price $615,000 $615 Per Sq Ft

Est. 63% increase in value since last sale

Current estimated payment $5,499/month

Highlights

  • Ocean View
  • In Ground Pool
  • Balcony
  • Rehoboth Elementary School Rated A
  • Furnished
  • Living Room

About This Home

As of November 2012

Expertly Sited Rehoboth Beach Ocean Block Condo In Rehoboth's Premier Location. Spectacular Ocean Views!! Extremely Well Maintained Property. Sold Furnished & Turn Key. Incredible Investmet Property!!

Last Agent to Sell the Property

Mike Kogler Team

(302) 227-2541 michael.kogler@LNF.com Long & Foster Real Estate, Inc. License #RS-0016259 Listed on: 04/01/2011

Long & Foster Real Estate, Inc.

Co-Listed By

VIRGINIA EGAN

(302) 227-2541 virginia@lnf.com Long & Foster Real Estate, Inc.

Last Buyer's Agent

Jenn Nagle

(302) 228-2841 jen.nagle@oasir.net Monument Sotheby's International Realty

Monument Sotheby's International Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,303

Year Built

  • Built in 1970

Lot Details

  • 653

Home Design

  • Entry on the 3rd floor
  • Flat Roof Shape
  • Brick Exterior Construction
  • Concrete Perimeter Foundation
  • Stick Built Home

Interior Spaces

  • 1,000 Sq Ft Home
  • Property has 1 Level
  • Furnished
  • Ceiling Fan
  • Insulated Windows
  • Living Room
  • Dining Room
  • Storage Room

Kitchen

  • Electric Oven or Range
  • Range Hood
  • Microwave
  • Ice Maker
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Tile or Brick

Bedrooms and Bathrooms

  • 3 Bedrooms
  • En-Suite Primary Bedroom
  • 2 Full Bathrooms

Parking

  • Covered Parking
  • Assigned Parking

Pool

  • In Ground Pool
  • Above Ground Pool
  • Outdoor Shower

Outdoor Features

  • Balcony

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Municipal Trash

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 334-14.14-31.00-301

Community Details

Overview

  • Property has a Home Owners Association
  • Low-Rise Condominium
  • Patrician Towers Community
  • North Rehoboth Subdivision

Amenities

  • Laundry Facilities
  • Community Storage Space
  • Elevator

Recreation

Additional Features

  • Trash Expense $220
  • Security Service

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,303

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Garden 1 - 4 Floors
  • Architectural Style: Unit/Flat
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Condominium
  • Historic: No
  • Inclusions: Furnished
  • New Construction: No
  • Year Built: 1970
  • Remarks Public: Expertly Sited Rehoboth Beach Ocean Block Condo In Rehoboth's Premier Location. Spectacular Ocean Views!! Extremely Well Maintained Property. Sold Furnished & Turn Key. Incredible Investmet Property!!
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Appliances: Dishwasher, Disposal, Icemaker, Refrigerator, Microwave, Oven/Range - Electric, Range Hood, Water Heater
  • Entry Floor: 3
  • Flooring Type: Carpet, Tile/Brick
  • Interior Amenities: Entry Level Bedroom, Ceiling Fan(s), Elevator
  • Window Features: Insulated
  • Fireplace: No
  • Foundation Details: Concrete Perimeter
  • Level Count: 1
  • Levels Count: 1
  • Room Count: 7
  • Room List: Living Room, Dining Room, Primary Bedroom, Kitchen, Storage Room, Additional Bedroom
  • Basement: No
  • Living Area Units: Square Feet
  • Total Sq Ft: 1000
  • Living Area Sq Ft: 1000
  • Net Sq Ft: 1000.00
  • Price Per Sq Ft: 674.00
  • Above Grade Finished Sq Ft: 1000
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

  • Bedrooms: 3
  • Total Bathrooms: 2
  • Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Stick Built, Brick
  • Construction Completed: Yes
  • Exterior Features: Outside Shower, Sidewalks
  • Pool Features: In Ground, Above Ground
  • Roof: Flat
  • View: Ocean
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Personal, Yes - Community
  • Tidal Water: No
  • Water View: Yes

Garage/Parking

  • Garage: No
  • Parking Features: Assigned, Under Home Parking
  • Garage Features: Covered Parking

Utilities

  • Refuse: 220.00
  • Central Air Conditioning: Yes
  • Cooling Type: Central A/C, Heat Pump(s)
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 8008.00
  • HOA Condo Co-Op Amenities: Elevator, Extra Storage, Laundry Facilities, Reserved/Assigned Parking, Pool - Outdoor, Swimming Pool, Security
  • HOA: No

Schools

  • School District: CAPE HENLOPEN
  • School District Key: 300200396895

Lot Info

  • Outdoor Living Structures: Balcony

Building Info

  • Building Features: Elevator

Rental Info

  • Furnished: Yes
  • Vacation Rental: Yes

Tax Info

  • Assessor Parcel Number: 5196185
  • Assessor Parcel Number: 334-14.14-31.00-301
  • County Tax Payment Frequency: Annually
  • Close Date: 11/14/2012

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 1, 2011
Closed on
Nov 19, 2012
Sold by
O'Sullivan Kevin and O'Sullivan Lynda T
Bought by
Mcdermott James J and Mcdermott Linda C
Seller's Agent
Mike Kogler Team
Long & Foster Real Estate, Inc.
Buyer's Agent
Jenn Nagle
Monument Sotheby's International Realty
List Price
$615,000
Sold Price
$615,000
Current Estimated Value
$1,000,963

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$385,963
Avg. Annual Appreciation
3.85%
Original Mortgage
$461,250
Outstanding Balance
$318,883
Interest Rate
3.4%
Estimated Equity
$682,080
Source: Public Records

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 Buyer Sale Price Title Company
Mcdermott James J $615,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mcdermott James J $461,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/14/2012 11/14/12 Sold $615,000 0.0% $615 / Sq Ft
11/09/2012 11/09/12 Pending -- -- --
04/01/2011 04/01/11 For Sale $615,000 -- $615 / Sq Ft
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
2025 $2,303 $22,400 $0 $22,400
2024 $1,104 $22,400 $0 $22,400
2023 $1,103 $22,400 $0 $22,400
2022 $1,065 $22,400 $0 $22,400
2021 $1,055 $22,400 $0 $22,400
2020 $1,052 $22,400 $0 $22,400
2019 $1,053 $22,400 $0 $22,400
2018 $984 $22,400 $0 $0
2017 $942 $22,400 $0 $0
2016 $895 $22,400 $0 $0
2015 $855 $22,400 $0 $0
2014 $849 $22,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Mike Kogler Team

    Seller's Agent in 2012

    Mike Kogler Team

    Long & Foster

    (302) 227-2541

    37 in this area

    96 Total Sales

    Mike Kogler Team
    Section Image

  • V

    Seller Co-Listing Agent in 2012

    VIRGINIA EGAN

    Long & Foster

    Section Image

  • J

    Buyer's Agent in 2012

    Jenn Nagle

    OCEAN ATLANTIC SOTHEBYS

    (302) 228-2841

    15 Total Sales

    Jenn Nagle
    Section Image
See All Agents

About Patrician Towers

Map

Source: Bright MLS

MLS Number: 1000958692

Bright MLS

APN: 334-14.14-31.00-301

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 301, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 301, Rehoboth Beach, DE 19971 since 01 April 2011 and is currently estimated at $1,000,963, approximately $1,000 per square foot. This property was built in 1970. 8 Olive Ave Unit 301 is a home located in Sussex County with nearby schools including Rehoboth Elementary School, Mariner Middle School, and Cape Henlopen High School.

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