Seller's Agent in 2022
Marilynn Kuebler
OCEAN ATLANTIC SOTHEBYS
(302) 528-1369
11 in this area
22 Total Sales
Patrician Towers 8 Olive Ave Unit 503 Rehoboth Beach, DE 19971
Estimated Value: $545,000 - $938,000
--
Bed
1
Bath
500
Sq Ft
$426/mo
HOA Fee
Highlights
- Ocean View
- Open Floorplan
- Main Floor Bedroom
- Rehoboth Elementary School Rated A
- Coastal Architecture
- Corner Lot
About This Home
As of February 2022Ocean block efficiency in Rehoboth in sought after Patrician Towers! Located on the the 5th floor, enjoy ocean views and city views from the expansive, private balconies facing South and West. With multiple sliding doors and windows, this L-shaped unit, flooded with light, has the feel of a one bedroom, with a custom expandable sleeping area partition, providing privacy from the living and dining areas. Take the elevator to the 7th floor roof top pool and patio offering panoramic views of the beach and boardwalk! Park your car in the underground garage and walk to everything Rehoboth has to offer. This secure building offers onsite management, lobby, outdoor shower, landscaped courtyard with bench seating and delightful koi pond. Patrician Towers has recently had major renovations to the North, West and East sides of the building to maintain the structural integrity and improve the appearance of the building. These included new aluminum awnings; pool deck awning to provide guests some shade; new deck coating on balconies; brick pointing; soffit coatings; balcony drip edge replacement and more. The final phase of improvements, to occur on the South side of the building will commence in September of 2022, with completion in May of 2023.
Condo fees include public water and sewer; building insurance and maintenance of all common elements. There is a 10% discount for condo fees paid on time. This unit has not been rented, but rentals are permitted for periods of one week or more. Onsite management can take care of rentals if you so desire.
Last Agent to Sell the Property
(302) 528-1369 marilynnkuebler@comcast.net Monument Sotheby's International Realty License #RS-0017650 Listed on: 01/08/2022
Last Buyer's Agent
(302) 381-4871 donnawhiteside@gotogallo.com Berkshire Hathaway HomeServices PenFed Realty License #RS-0022917
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $716
Year Built
- Built in 1970 | Remodeled in 2002
Lot Details
- East Facing Home
- Property is in very good condition
HOA Fees
- $426 Monthly HOA Fees
Parking
- Assigned Subterranean Space
- Basement Garage
- Front Facing Garage
- Garage Door Opener
Property Views
- City
- Courtyard
Home Design
- Coastal Architecture
- Entry on the 5th floor
- Studio
- Flat Roof Shape
- Brick Exterior Construction
Interior Spaces
- 500 Sq Ft Home
- Open Floorplan
- Furnished
- Built-In Features
- Window Treatments
- Sliding Windows
- Window Screens
- Combination Dining and Living Room
- Efficiency Studio
- Laundry on lower level
Kitchen
- Kitchen in Efficiency Studio
- Electric Oven or Range
- Microwave
- Ice Maker
- Dishwasher
- Disposal
Flooring
- Wall to Wall Carpet
- Concrete
Bedrooms and Bathrooms
- Main Floor Bedroom
- 1 Full Bathroom
Home Security
- Security Gate
- Exterior Cameras
Accessible Home Design
- Accessible Elevator Installed
- No Interior Steps
- Level Entry For Accessibility
- Low Pile Carpeting
Outdoor Features
- Outdoor Shower
- Multiple Balconies
- Brick Porch or Patio
Utilities
- Forced Air Heating and Cooling System
- Heat Pump System
- Geothermal Heating and Cooling
- Electric Water Heater
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 334-14.14-31.00-503
Community Details
Overview
- Association fees include common area maintenance, management, pool(s), reserve funds
- 51 Units
- Mid-Rise Condominium
- Patrician Towers Owners, Inc. Condos, Phone Number (302) 227-9471
- Patrician Towers Community
- Rehoboth Beach Subdivision
- Property Manager
- Property has 6 Levels
Amenities
- Laundry Facilities
- 1 Elevator
Recreation
Pet Policy
- Dogs and Cats Allowed
Security
- Front Desk in Lobby
- Fire and Smoke Detector
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 8, 2022
Closed on
Feb 24, 2022
Sold by
Carn Daniel L and Carn Lanell F
Bought by
Figueroa Josephine and Wheaton Leigh Ann
Seller's Agent
Marilynn Kuebler
Monument Sotheby's International Realty
Buyer's Agent
Donna Whiteside
Berkshire Hathaway HomeServices PenFed Realty
List Price
$529,000
Sold Price
$515,770
Premium/Discount to List
-$13,230
-2.5%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$152,328
Avg. Annual Appreciation
7.50%
Original Mortgage
$304,000
Outstanding Balance
$282,824
Interest Rate
3.55%
Mortgage Type
New Conventional
Estimated Equity
$385,274
Purchase Details
Closed on
Jun 5, 2003
Bought by
Carn Daniel L Lanell F Carn
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Figueroa Josephine | $515,770 | Fuqua Willard & Schab Pa | |
| Carn Daniel L Lanell F Carn | $365,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Figueroa Josephine | $304,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/28/2022 02/28/22 | Sold | $515,770 | -2.5% | $1,032 / Sq Ft |
| 01/08/2022 01/08/22 | For Sale | $529,000 | -- | $1,058 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
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
-
Donna Whiteside
Buyer's Agent in 2022
Donna Whiteside
BHHS PenFed (actual)
(302) 381-4871
17 in this area
73 Total Sales
About Patrician Towers
Map
Source: Bright MLS
MLS Number: DESU2012182
APN: 334-14.14-31.00-503
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