NOT LISTED FOR SALE

Patrician Towers 8 Olive Ave Unit 402 Rehoboth Beach, DE 19971

Estimated Value: $754,000 - $793,000

1 Bed
1 Bath
650 Sq Ft
$644/mo HOA Fee

Last Sold July 31, 2020

Last sale price $535,000 $823 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $4,880/month

Highlights

  • Building is oceanfront but unit may not have water views
  • Upgraded Countertops
  • Balcony
  • Rehoboth Elementary School Rated A
  • Community Pool
  • Subterranean Parking

About This Home

As of July 2020

Paradise is calling you. Watch the waves roll in. This 1BR/1BA, totally renovated 4th floor furnished condo, with exceptional breathtaking ocean views from the living room, dining room and bedroom. Sit on the balcony admiring the splendor of the ocean and people strolling the boardwalk, or take a few steps and partake in all the activities that downtown Rehoboth Beach has to offer. Enjoy the rooftop pool for more incredible views of downtown Rehoboth Beach and the Atlantic Ocean. Close to absolutely everything, shopping, nightlife and fine dining. The perfect place to entertain. Park in the undergroud parking garage and take the elevator to your new home! This is definitely the unit you want to see!

Last Agent to Sell the Property

Pamela Rut Albanese

pamelanjohn@hotmail.com Mann & Sons, Inc. License #RS-0022631 Listed on: 10/19/2019

Last Buyer's Agent

DEBBIE REED

(302) 227-3818 debbie@debbiereed.com RE/MAX Realty Group Rehoboth License #RS-0010229

RE/MAX Realty Group Rehoboth

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,212

Year Built

  • Built in 1970

Lot Details

  • Building is oceanfront but unit may not have water views
  • Northeast Facing Home

HOA Fees

  • $644 Monthly HOA Fees

Parking

  • Subterranean Parking

Home Design

  • Entry on the 4th floor
  • Flat Roof Shape
  • Brick Exterior Construction
  • Brick Foundation
  • Block Foundation

Interior Spaces

  • 650 Sq Ft Home
  • Property has 1 Level
  • Ceiling Fan
  • Recessed Lighting
  • Window Treatments
  • Combination Dining and Living Room
  • Carpet

Kitchen

  • Electric Oven or Range
  • Dishwasher
  • Upgraded Countertops

Bedrooms and Bathrooms

  • 1 Main Level Bedroom
  • 1 Full Bathroom

Home Security

  • Exterior Cameras
  • Surveillance System

Outdoor Features

  • Outdoor Shower
  • Balcony
  • Exterior Lighting

Utilities

  • Forced Air Heating and Cooling System
  • 150 Amp Service

Listing and Financial Details

  • Assessor Parcel Number 334-14.14-31.00-402

Community Details

Overview

  • Association fees include common area maintenance, exterior building maintenance, lawn maintenance, sewer, water
  • Mid-Rise Condominium
  • Patrician Towers Community
  • North Rehoboth Subdivision

Amenities

  • Laundry Facilities

Recreation

Security

  • Front Desk in Lobby
  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,212

Year Built

Built in 1970

Lot Details

0

HOA Fees

$644 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
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: No
  • Year Built: 1970
  • Remarks Public: Paradise is calling you. Watch the waves roll in. This 1BR/1BA, totally renovated 4th floor furnished condo, with exceptional breathtaking ocean views from the living room, dining room and bedroom. Sit on the balcony admiring the splendor of the ocean and people strolling the boardwalk, or take a few steps and partake in all the activities that downtown Rehoboth Beach has to offer. Enjoy the rooftop pool for more incredible views of downtown Rehoboth Beach and the Atlantic Ocean. Close to absolutely everything, shopping, nightlife and fine dining. The perfect place to entertain. Park in the undergroud parking garage and take the elevator to your new home! This is definitely the unit you want to see!
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Oven/Range - Electric, Refrigerator
  • Entry Floor: 4
  • Flooring Type: Carpet
  • Interior Amenities: Carpet, Ceiling Fan(s), Combination Dining/Living, Recessed Lighting, Upgraded Countertops, Window Treatments
  • Wall Ceiling Types: Dry Wall
  • Foundation Details: Block, Brick/Mortar
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Common
  • Total Sq Ft: 650
  • Living Area Sq Ft: 650
  • Price Per Sq Ft: 823.08
  • Above Grade Finished Sq Ft: 650
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

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

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Block, Brick, Concrete
  • Exterior Features: Exterior Lighting, Outside Shower
  • Roof: Flat
  • 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
  • Garage Features: Underground
  • Attached Garage Spaces: 1
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Attached Garage

Utilities

  • Central Air Conditioning: Yes
  • Cooling Type: Ceiling Fan(s), Central A/C
  • Electric Service: 150 Amps
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Security: Desk In Lobby, Exterior Cameras, Fire Detection System, Main Entrance Lock, Surveillance Sys
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 7732.24
  • Condo Co-Op Fee Frequency: Annually
  • HOA Condo Co-Op Amenities: Laundry Facilities, Pool - Outdoor
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Lawn Maintenance, Sewer, Water
  • HOA: No
  • Senior Community: No

Schools

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

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Use Code: RC
  • Lot Dimensions: 0.00 x 0.00
  • Outdoor Living Structures: Balcony
  • Year Assessed: 2019
  • Zoning: Q
  • In City Limits: Yes

Rental Info

  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 5196197
  • School Tax: 766.00
  • School Tax Pymnt Freq: Annually
  • Tax Annual Amount: 1212.00
  • Assessor Parcel Number: 334-14.14-31.00-402
  • County Tax Payment Frequency: Annually
  • Tax Year: 2019
  • Close Date: 07/31/2020

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 18, 2022
Sold by
Rutledge Janet T
Bought by
Irrevocable Janet T Rutledge
Current Estimated Value
$775,099

Purchase Details

Listed on
Oct 19, 2019
Closed on
Jul 31, 2020
Sold by
Kamalski Paul
Bought by
Rutledge Janet T
Seller's Agent
Pamela Rut Albanese
Mann & Sons, Inc.
Buyer's Agent
DEBBIE REED
RE/MAX Realty Group Rehoboth
List Price
$535,000
Sold Price
$535,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.45%
Original Mortgage
$400,000
Interest Rate
3%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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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
Irrevocable Janet T Rutledge -- Procino Wells & Woodland Llc
Rutledge Janet T $535,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rutledge Janet T $400,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2020 07/31/20 Sold $535,000 0.0% $823 / Sq Ft
10/19/2019 10/19/19 For Sale $535,000 -- $823 / 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 $1,523 $18,000 $0 $18,000
2024 $887 $18,000 $0 $18,000
2023 $886 $18,000 $0 $18,000
2022 $856 $18,000 $0 $18,000
2021 $830 $18,000 $0 $18,000
2020 $845 $18,000 $0 $18,000
2019 $846 $18,000 $0 $18,000
2018 $790 $18,000 $0 $0
2017 $757 $18,000 $0 $0
2016 $719 $18,000 $0 $0
2015 $687 $18,000 $0 $0
2014 $682 $18,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2020

    Pamela Rut Albanese

    Mann & Sons, Inc.

    2 in this area

    2 Total Sales

    Pamela Rut Albanese
    Section Image
  • DEBBIE REED

    Buyer's Agent in 2020

    DEBBIE REED

    RE/MAX

    (302) 227-3818

    272 in this area

    833 Total Sales

    DEBBIE REED
    Section Image
See All Agents

About Patrician Towers

Map

Source: Bright MLS

MLS Number: DESU150256

Bright MLS

APN: 334-14.14-31.00-402

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 402, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 402, Rehoboth Beach, DE 19971 since 19 October 2019 and is currently estimated at $775,099, approximately $1,192 per square foot. This property was built in 1970. 8 Olive Ave Unit 402 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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