NOT LISTED FOR SALE

Patrician Towers 8 Olive Ave Unit 309 Rehoboth Beach, DE 19971

Estimated Value: $507,173 - $917,000

-- Bed
1 Bath
500 Sq Ft
$495/mo HOA Fee

Last Sold April 09, 2020

Last sale price $337,500 $675 Per Sq Ft

Est. 87% increase in value since last sale

Current estimated payment $3,935/month

Highlights

  • Building is oceanfront but unit may not have water views
  • Furnished
  • Community Pool
  • Rehoboth Elementary School Rated A
  • Great Room
  • 1 Elevator

About This Home

As of April 2020

Ocean block and just steps to the beach and boardwalk in Rehoboth! New year, new opportunity to make your beach dreams come true! Summer is around the corner-time to make this yours! This 3rd floor efficiency unit faces the front of Patrician Towers, with private balcony overlooking the courtyard, Koi Pond and residential homes lining Olive Avenue. Park your car, and bikes, in the underground garage and walk everywhere, taking advantage of all Rehoboth has to offer. Enjoy panoramic views and epic sunrises and sunsets from the rooftop pool and surrounding deck. Unit features include wood-grain tile flooring throughout, Murphy bed, sleep sofa and twin bed with trundle. Owners have access to a private storage spot for beach equipment. Low interest rates and low inventory in this price range are a combination that shouldn't be ignored. Don't miss the opportunity to make your dream of a spot at the beach come true today! Great rental history, if looking for an investment! On-site management is invaluable to owners and guests alike!

Last Agent to Sell the Property

Marilynn Kuebler

(302) 528-1369 marilynnkuebler@comcast.net Monument Sotheby's International Realty License #RS-0017650 Listed on: 12/06/2019

Monument Sotheby's International Realty

Last Buyer's Agent

BRENDA GREENAN

benniegre@aol.com Monument Sotheby's International Realty License #RS-0019599

Monument Sotheby's International Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $739

Year Built

  • Built in 1970

Lot Details

  • Building is oceanfront but unit may not have water views
  • Two or More Common Walls
  • North Facing Home
  • Property is in good condition

HOA Fees

  • $495 Monthly HOA Fees

Parking

  • 1 Car Attached Garage

Home Design

  • Entry on the 3rd floor
  • Flat Roof Shape
  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 1 Full Bathroom
  • 500 Sq Ft Home
  • Property has 3 Levels
  • Furnished
  • Great Room
  • Tile or Brick Flooring
  • Exterior Cameras

Outdoor Features

  • Outdoor Shower
  • Balcony
  • Exterior Lighting

Utilities

  • Forced Air Heating System
  • Geothermal Heating and Cooling
  • Private Water Source
  • Electric Water Heater
  • Municipal Trash
  • Cable TV Available

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 334-14.14-31.00-309

Community Details

Overview

  • Association fees include common area maintenance, exterior building maintenance, insurance, lawn care front, management, pool(s), water
  • 51 Units
  • Mid-Rise Condominium
  • Patrician Towers Condos, Phone Number (302) 227-9471
  • Patrician Towers Community
  • Rehoboth Beach Subdivision
  • Property Manager

Amenities

  • Laundry Facilities
  • 1 Elevator
  • Community Storage Space

Recreation

Pet Policy

  • Pets Allowed

Security

  • Front Desk in Lobby

Property Details

Home Type

Condominium

Est. Annual Taxes

$739

Year Built

Built in 1970

Lot Details

0

HOA Fees

$495 per month

Parking

1

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Mid-Rise 5 - 8 Floors
  • Architectural Style: Unit/Flat
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Condominium
  • Exclusions: Framed sea turtle picture; framed prawn picture; wooden bench; contents of owner's closets; personal effects.
  • Historic: No
  • Home Warranty: No
  • Inclusions: Furniture with exceptions; television; dishes; pots and pans; small electronics (toaster, coffee maker).
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: No
  • Year Built: 1970
  • Remarks Public: Ocean block and just steps to the beach and boardwalk in Rehoboth! New year, new opportunity to make your beach dreams come true! Summer is around the corner-time to make this yours! This 3rd floor efficiency unit faces the front of Patrician Towers, with private balcony overlooking the courtyard, Koi Pond and residential homes lining Olive Avenue. Park your car, and bikes, in the underground garage and walk everywhere, taking advantage of all Rehoboth has to offer. Enjoy panoramic views and epic sunrises and sunsets from the rooftop pool and surrounding deck. Unit features include wood-grain tile flooring throughout, Murphy bed, sleep sofa and twin bed with trundle. Owners have access to a private storage spot for beach equipment. Low interest rates and low inventory in this price range are a combination that shouldn't be ignored. Don't miss the opportunity to make your dream of a spot at the beach come true today! Great rental history, if looking for an investment! On-site management is invaluable to owners and guests alike!
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Entry Floor: 3
  • Flooring Type: Tile/Brick
  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Elevators Count: 1
  • Wall Ceiling Types: Dry Wall
  • Foundation Details: Block
  • Floors In Unit Count: 1
  • Levels Count: 3+
  • Room List: Great Room
  • Basement: No
  • Laundry Type: Common
  • Total Sq Ft: 500
  • Living Area Sq Ft: 500
  • Price Per Sq Ft: 698.00
  • Above Grade Finished Sq Ft: 500
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Other Structures List: Garage(s)
  • Construction Materials: Brick, Concrete, Glass
  • Exterior Features: Exterior Lighting, Outside Shower, Street Lights
  • Roof: Flat
  • Spa: No
  • View: Street
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Community
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 1.00
  • Garage: Yes
  • Parking Features: General Common Elements
  • Garage Features: Underground
  • Attached Garage Spaces: 1
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Attached Garage

Utilities

  • Refuse: 300.00
  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Geothermal
  • Electric Service: Circuit Breakers
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Security: Desk In Lobby, Exterior Cameras
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available, Electric Available
  • Water Source: Private/Community Water
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 1485.19
  • Condo Co-Op Fee Frequency: Quarterly
  • Condo Co-Op Name: Patrician Towers
  • Condo Co-Op Phone: 302-227-9471
  • HOA Condo Co-Op Amenities: Elevator, Extra Storage, Laundry Facilities, Pool - Outdoor, Reserved/Assigned Parking
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Insurance, Lawn Care Front, Management, Pool(s), Water
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No
  • Community Pool Features: Fenced

Fee Information

  • Loss Mitigation Fee?: No

Schools

  • School District: CAPE HENLOPEN
  • School District Key: 300200396895
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Horses: No
  • Land Use Code: RC
  • Lot Dimensions: 0.00 x 0.00
  • Outdoor Living Structures: Balcony
  • Property Condition: Good
  • Year Assessed: 2019
  • Zoning: TN
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Total Actual Rent: 14000.00
  • Vacation Rental: Yes
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5196193
  • School Tax: 490.00
  • Tax Annual Amount: 739.00
  • Assessor Parcel Number: 334-14.14-31.00-309
  • County Tax Payment Frequency: Annually
  • Tax Year: 2019
  • Close Date: 04/09/2020

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 6, 2019
Closed on
Apr 8, 2020
Sold by
Girard Jamison E and Girard Aelita B
Bought by
Norman Marc E and Hansen Karen N
Seller's Agent
Marilynn Kuebler
Monument Sotheby's International Realty
Buyer's Agent
BRENDA GREENAN
Monument Sotheby's International Realty
List Price
$349,000
Sold Price
$337,500
Premium/Discount to List
-$11,500
-3.3%
Current Estimated Value
$629,793

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$292,293
Avg. Annual Appreciation
12.06%

Purchase Details

Listed on
Jun 7, 2013
Closed on
Jan 27, 2014
Sold by
Mark J Mark J and Mathiesen Sandra W
Bought by
Girard Jamison Edward and Girard Aelita B
Seller's Agent
Marilynn Kuebler
Monument Sotheby's International Realty
Buyer's Agent
Bill Cullin
Long & Foster Real Estate, Inc.
List Price
$312,500
Sold Price
$312,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.25%
Original Mortgage
$250,000
Interest Rate
4.47%
Mortgage Type
Unknown
Source: Public Records

Range of Values:

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
Norman Marc E $337,500 None Available
Girard Jamison Edward $312,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Girard Jamison Edward $250,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/09/2020 04/09/20 Sold $337,500 -3.3% $675 / Sq Ft
02/25/2020 02/25/20 Pending -- -- --
12/06/2019 12/06/19 For Sale $349,000 +11.7% $698 / Sq Ft
01/24/2014 01/24/14 Sold $312,500 0.0% $625 / Sq Ft
11/25/2013 11/25/13 Pending -- -- --
06/07/2013 06/07/13 For Sale $312,500 -- $625 / 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 $1,209 $11,500 $0 $11,500
2024 $567 $11,500 $0 $11,500
2023 $566 $11,500 $0 $11,500
2022 $547 $11,500 $0 $11,500
2021 $542 $11,500 $0 $11,500
2020 $540 $11,500 $0 $11,500
2019 $541 $11,500 $0 $11,500
2018 $505 $11,500 $0 $0
2017 $484 $11,500 $0 $0
2016 $459 $11,500 $0 $0
2015 $439 $11,500 $0 $0
2014 $436 $11,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Marilynn Kuebler

    Seller's Agent in 2020

    Marilynn Kuebler

    OCEAN ATLANTIC SOTHEBYS

    (302) 528-1369

    11 in this area

    22 Total Sales

    Marilynn Kuebler
    Section Image

  • B

    Buyer's Agent in 2020

    BRENDA GREENAN

    OCEAN ATLANTIC SOTHEBYS

    8 in this area

    20 Total Sales

    BRENDA GREENAN
    Section Image

  • V

    Seller Co-Listing Agent in 2014

    Vicki Tull

    Long & Foster

    Section Image
  • Bill Cullin

    Buyer's Agent in 2014

    Bill Cullin

    Long & Foster

    (302) 841-7147

    68 in this area

    187 Total Sales

    Bill Cullin
    Section Image
See All Agents

About Patrician Towers

Map

Source: Bright MLS

MLS Number: DESU151900

Bright MLS

APN: 334-14.14-31.00-309

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 309, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 309, Rehoboth Beach, DE 19971 since 06 December 2019 and is currently estimated at $629,793, approximately $1,259 per square foot. This property was built in 1970. 8 Olive Ave Unit 309 is a home located in Sussex County with nearby schools including Rehoboth Elementary School, Mariner Middle School, and Cape Henlopen High School.

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