NOT LISTED FOR SALE

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

Estimated Value: $807,000 - $1,182,000

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. 66% increase in value since last sale

Current estimated payment $5,559/month

588 Days on Market

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

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
  • 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

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
  • 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 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

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

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

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
$1,020,257

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$405,257
Avg. Annual Appreciation
3.95%
Original Mortgage
$461,250
Outstanding Balance
$318,883
Interest Rate
3.4%
Estimated Equity
$701,374
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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 List to Sale Price per Sq Ft
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

    36 in this area

    87 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

    12 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

Not Listed for Sale

Condos

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bright MLS The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement.
Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site.
The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale.
Property information displayed is deemed reliable but is not guaranteed.
Copyright 2025 Bright MLS, Inc.

Nearby Homes