Seller's Agent in 2023
BRUCE WRIGHT
Mann & Sons, Inc.
(302) 542-7651
17 in this area
78 Total Sales
Patrician Towers 8 Olive Ave Unit 507 Rehoboth Beach, DE 19971
Estimated Value: $657,000 - $931,509
2
Beds
1
Bath
--
Sq Ft
$868/mo
HOA Fee
Highlights
- Ocean View
- Furnished
- Assigned Subterranean Space
- Rehoboth Elementary School Rated A
- Community Pool
- Storm Windows
About This Home
As of February 2023Newly updated 2 bedroom, 1 bath penthouse condo in Patrician Towers, second building from the boardwalk. New kitchen, bathroom and flooring. Extra large ocean facing patio and additional balcony on Olive Avenue with access from both the living room and from the bedroom. New kitchen has granite countertops and stainless steel appliances. The new bathroom has a walk-in tile shower with glass and granite vanity counter. This condo can be rented weekly if desired. Pets are not allowed when rented.
Last Agent to Sell the Property
(302) 542-7651 brucewright@mchsi.com Mann & Sons, Inc. License #RS-0016583 Listed on: 10/10/2022
Last Buyer's Agent
(302) 841-7147 bill.cullin@longandfoster.com Long & Foster Real Estate, Inc. License #RS0018675
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $1,406
Year Built
- Built in 1970 | Remodeled in 2021
Lot Details
- 653
HOA Fees
- $868 Monthly HOA Fees
Parking
- Assigned Subterranean Space
Home Design
- Entry on the 1st floor
- Asphalt Roof
- Brick Front
- Asphalt
- Masonry
Interior Spaces
- Property has 1 Level
- Furnished
- Insulated Windows
- Sliding Windows
- Window Screens
- Insulated Doors
- Tile or Brick Flooring
Kitchen
- Built-In Range
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 1 Full Bathroom
Basement
- Basement Fills Entire Space Under The House
- Garage Access
- Front Basement Entry
Home Security
Outdoor Features
- Outdoor Shower
- Exterior Lighting
Utilities
- Forced Air Heating System
- Geothermal Heating and Cooling
- 200+ Amp Service
- Electric Water Heater
- Public Septic
- Phone Available
- Cable TV Available
Additional Features
- Accessible Elevator Installed
- Property is in excellent condition
Listing and Financial Details
- Property is used as a vacation rental
- Assessor Parcel Number 334-14.14-31.00-507
Community Details
Overview
- 1 Elevator
- Mid-Rise Condominium
- Patrician Towers Community
- Property Manager
Recreation
Pet Policy
- Pets Allowed
Security
- Storm Windows
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 24, 2019
Closed on
Nov 25, 2019
Sold by
Vieser Walter N
Bought by
Knowles Robert W and Knowles Rebecca J
Seller's Agent
BROWN THAWLEY
Mann & Sons, Inc.
Buyer's Agent
BRUCE WRIGHT
Mann & Sons, Inc.
List Price
$570,000
Sold Price
$550,000
Premium/Discount to List
-$20,000
-3.51%
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
$309,627
Avg. Annual Appreciation
7.67%
Original Mortgage
$440,000
Outstanding Balance
$388,235
Interest Rate
3.75%
Mortgage Type
New Conventional
Estimated Equity
$471,392
Purchase Details
Closed on
Aug 6, 1998
Bought by
Vieser Ii Walter Nelson
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
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Knowles Robert W | $550,000 | -- | |
| Vieser Ii Walter Nelson | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Knowles Robert W | $440,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/13/2023 02/13/23 | Sold | $878,000 | -7.5% | -- | |
| 01/24/2023 01/24/23 | Pending | -- | -- | -- | |
| 10/10/2022 10/10/22 | For Sale | $949,000 | +72.5% | -- | |
| 11/25/2019 11/25/19 | Sold | $550,000 | 0.0% | -- | View Prior Sale |
| 10/10/2019 10/10/19 | Pending | -- | -- | -- | |
| 08/23/2019 08/23/19 | Price Changed | $550,000 | -3.5% | -- | |
| 08/20/2019 08/20/19 | For Sale | $570,000 | 0.0% | -- | |
| 07/22/2019 07/22/19 | Pending | -- | -- | -- | |
| 04/24/2019 04/24/19 | For Sale | $570,000 | -- | -- |
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 | $1,810 | $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
-
BRUCE WRIGHT
-
Joanie Hannigan
J
Seller Co-Listing Agent in 2023
Joanie Hannigan
Mann & Sons, Inc.
(303) 227-9477
15 in this area
66 Total Sales
-
Bill Cullin
Buyer's Agent in 2023
Bill Cullin
Long & Foster
(302) 841-7147
61 in this area
178 Total Sales
-
B
Seller's Agent in 2019
BROWN THAWLEY
Mann & Sons, Inc.
About Patrician Towers
Map
Source: Bright MLS
MLS Number: DESU2030654
APN: 334-14.14-31.00-507
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.
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
- 8 Olive Ave Unit 205
- 35 Maryland Ave
- 527 North Boardwalk Unit 202
- 45 Baltimore Ave
- 58 Maryland Ave Unit 2
- 18 Delaware Ave
- 16 Delaware Ave
- 28 Delaware Ave
- 40 Park Ave
- 50 Wilmington Ave Unit 103
- 19 Brooklyn Ave
- 57 Delaware Ave Unit B
- 307 South Boardwalk Unit 605
- 19 Laurel St
- 118 Philadelphia St
- 3 Laurel St
- 52 Henlopen Ave
- 121 Laurel St
- 3 Hickman St
- 116 Laurel St
- 8 Olive Ave Unit 202
- 8 Olive Ave Unit 502
- 8 Olive Ave Unit 405
- 8 Olive Ave Unit 301
- 8 Olive Ave Unit 201
- 8 Olive Ave Unit 210
- 8 Olive Ave Unit 402
- 8 Olive Ave Unit 309
- 8 Olive Ave Unit 302
- 8 Olive Ave Unit 208
- 8 Olive Ave Unit 103
- 8 Olive Ave Unit 403
- 8 Olive Ave Unit 207
- 8 Olive Ave Unit 107
- 8 Olive Ave Unit 503
- 8 Olive Ave Unit 110
- 8 Olive Ave Unit 308
- 8 Olive Ave Unit 306
- 8 Olive Ave Unit 104
- 8 Olive Ave Unit 102