NOT LISTED FOR SALE

Patrician Towers 8 Olive Ave Unit 405 Rehoboth Beach, DE 19971

Estimated Value: $680,479 - $1,009,000

2 Beds
1 Bath
-- Sq Ft
653 Sq Ft Lot

Last Sold August 30, 2013

Last sale price $490,000

Est. 79% increase in value since last sale

Current estimated payment $4,806/month

Highlights

  • Ocean View
  • In Ground Pool
  • Furnished
  • Rehoboth Elementary School Rated A
  • Wood Flooring
  • Balcony

About This Home

As of August 2013

WOW!!! What a location if you love the beach! Large rooftop pool with panoramic views of the Atlantic Ocean and the beautiful Rehoboth Beach coastline. Beach block right in the heart of Rehoboth Beach... just steps to the ocean. Completely furnished and ready for immediate use...! Great ocean views.

Last Agent to Sell the Property

Justin Healy

(302) 542-6610 justin.healy@oasir.net Monument Sotheby's International Realty License #RB-0003444 Listed on: 09/01/2010

Monument Sotheby's International Realty

Last Buyer's Agent

Lee Ann Wilkinson

(302) 278-6726 leeann@leeanngroup.com Berkshire Hathaway HomeServices PenFed Realty License #RA-0002064

Berkshire Hathaway HomeServices PenFed Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,810

Year Built

  • Built in 1972

Lot Details

  • Landscaped

Parking

  • Assigned Parking

Home Design

  • Entry on the 4th floor
  • Block Foundation
  • Concrete Roof
  • Stick Built Home
  • Stucco

Interior Spaces

  • Property has 1 Level
  • Furnished
  • Window Treatments
  • Window Screens

Kitchen

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

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Outdoor Features

  • In Ground Pool
  • Balcony

Utilities

  • Forced Air Heating and Cooling System
  • Private Sewer

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 334-14.14-31.00-405

Community Details

Overview

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

Amenities

  • Laundry Facilities
  • Elevator

Recreation

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,810

Year Built

Built in 1972

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: 1972
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Appliances: Dishwasher, Disposal, Icemaker, Refrigerator, Microwave, Oven/Range - Electric
  • Entry Floor: 4
  • Flooring Type: Carpet, Hardwood
  • Interior Amenities: Elevator, Window Treatments
  • Window Features: Screens
  • Fireplace: No
  • Foundation Details: Block
  • Floors In Unit Count: 1
  • Level Count: 1
  • Levels Count: 1

Beds/Baths

  • Bedrooms: 2
  • Total Bathrooms: 1
  • Full Bathrooms: 1

Exterior Features

  • Construction Materials: Stick Built, Stucco
  • Construction Completed: Yes
  • Pool Features: In Ground
  • Roof: Concrete
  • 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

Utilities

  • Central Air Conditioning: Yes
  • Cooling Type: Central A/C
  • Heating Type: Forced Air
  • Heating: Yes
  • Sewer/Septic System: Private Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 6000.00
  • HOA Condo Co-Op Amenities: Elevator, Laundry Facilities, Reserved/Assigned Parking, Pool - Outdoor, Swimming Pool
  • HOA: No

Schools

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

Lot Info

  • Lot Features: Landscaping
  • Outdoor Living Structures: Balcony

Building Info

  • Building Features: Elevator

Rental Info

  • Furnished: Yes
  • Vacation Rental: Yes

Tax Info

  • Assessor Parcel Number: 5196200
  • Assessor Parcel Number: 334-14.14-31.00-405
  • County Tax Payment Frequency: Annually
  • Close Date: 08/30/2013

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 30, 2025
Sold by
Desmond Timothy and Desmond Jeanmarie F
Bought by
Revocable Trust Of Timothy Desmond and Revocable Trust Of Jeanmarie F Desmond
Current Estimated Value
$878,120

Purchase Details

Listed on
Sep 1, 2010
Closed on
Aug 30, 2013
Sold by
Standiford Winfield Scott and Mcreynolds Richard M
Bought by
Desmond Timothy and Desmond Jeanmarie F
Seller's Agent
Justin Healy
Monument Sotheby's International Realty
Buyer's Agent
Lee Ann Wilkinson
Berkshire Hathaway HomeServices PenFed Realty
List Price
$490,000
Sold Price
$490,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.95%
Original Mortgage
$367,500
Interest Rate
4.43%
Source: Public Records

Range of Values:

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List Price
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
Revocable Trust Of Timothy Desmond -- None Listed On Document
Desmond Timothy $490,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Desmond Timothy $367,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/30/2013 08/30/13 Sold $490,000 0.0% --
07/20/2013 07/20/13 Pending -- -- --
09/01/2010 09/01/10 For Sale $490,000 -- --
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 $1,810 $18,950 $0 $18,950
2024 $934 $18,950 $0 $18,950
2023 $933 $18,950 $0 $18,950
2022 $901 $18,950 $0 $18,950
2021 $892 $18,950 $0 $18,950
2020 $890 $18,950 $0 $18,950
2019 $891 $18,950 $0 $18,950
2018 $832 $18,950 $0 $0
2017 $797 $18,950 $0 $0
2016 $757 $18,950 $0 $0
2015 $723 $18,950 $0 $0
2014 $718 $18,950 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Justin Healy

    Seller's Agent in 2013

    Justin Healy

    OCEAN ATLANTIC SOTHEBYS

    (302) 542-6610

    10 in this area

    22 Total Sales

    Justin Healy
    Section Image
  • Lee Ann Wilkinson

    Buyer's Agent in 2013

    Lee Ann Wilkinson

    BHHS PenFed (actual)

    (302) 278-6726

    221 in this area

    1,883 Total Sales

    Lee Ann Wilkinson
    Section Image
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About Patrician Towers

Map

Source: Bright MLS

MLS Number: 1000955830

Bright MLS

APN: 334-14.14-31.00-405

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 405, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 405, Rehoboth Beach, DE 19971 since 01 September 2010 and is currently estimated at $878,120. This property was built in 1972. 8 Olive Ave Unit 405 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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