$550,000
SOLD NOV 25, 2019

Patrician Towers 8 Olive Ave Unit 507 Rehoboth Beach, DE 19971

2 Beds
1 Bath
-- Sq Ft
$868/mo HOA Fee

Recently Sold

4% Below List Price

Highlights

  • Community Pool
  • Subterranean Parking
  • Brick Front
  • Rehoboth Elementary School Rated A
  • 1 Car Attached Garage
  • Central Heating

About This Home

As of February 2023

2 bedroom condo 2 building off boardwalk. Nice ocean view. Nice ocean view from large deck, roof top pool. Underground parking. Walking distance to beach, shopping, restaurants and entertainment.

Last Agent to Sell the Property

BROWN THAWLEY

(302) 236-1674 brownatthebeach@aol.com Mann & Sons, Inc. Listed on: 04/24/2019

Last Buyer's Agent

BRUCE WRIGHT

(302) 542-7651 brucewright@mchsi.com Mann & Sons, Inc. License #RS-0016583

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $984

Year Built

  • Built in 1970

HOA Fees

  • $868 Monthly HOA Fees

Parking

  • Subterranean Parking

Home Design

  • Entry on the 1st floor
  • Asphalt Roof
  • Brick Front
  • Asphalt
  • Masonry

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

Outdoor Features

  • Outdoor Shower
  • Exterior Lighting

Utilities

  • Central Heating
  • Geothermal Heating and Cooling
  • Electric Water Heater
  • Municipal Trash
  • Public Septic

Additional Features

  • Property has 1 Level
  • Accessible Elevator Installed

Listing and Financial Details

  • Assessor Parcel Number 334-14.14-31.00-507

Community Details

Overview

  • 1 Elevator
  • Mid-Rise Condominium
  • Patrician Towers Community
  • Property Manager

Recreation

Property Details

Home Type

Condominium

Est. Annual Taxes

$984

Year Built

Built in 1970

Lot Details

0

HOA Fees

$868 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
  • Accessibility Features: Elevator
  • Ownership: Condominium
  • Home Warranty: No
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: No
  • Year Built: 1970
  • Remarks Public: 2 bedroom condo 2 building off boardwalk. Nice ocean view. Nice ocean view from large deck, roof top pool. Underground parking. Walking distance to beach, shopping, restaurants and entertainment.
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Built-In Range, Dishwasher, Disposal
  • Entry Floor: 1
  • Other Equipment: Negotiable
  • Fireplace: No
  • Elevators Count: 1
  • Floors In Unit Count: 1
  • Levels Count: 1
  • Basement: Yes
  • Basement Type: Garage Access, Front Entrance, Full
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • 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: Asphalt, Block, Brick Front, Concrete, Glass, Masonry
  • Exterior Features: Exterior Lighting, Outside Shower, Sidewalks
  • Roof: Asphalt
  • 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: Covered Parking, Underground
  • Attached Garage Spaces: 1
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Attached Garage

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Geothermal, Electric
  • Cooling Type: Geothermal
  • Heating Fuel: Electric
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Septic
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 2604.13
  • Condo Co-Op Fee Frequency: Quarterly
  • HOA Condo Co-Op Amenities: Pool - Outdoor
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • 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
  • Year Assessed: 2018
  • Zoning: Q
  • In City Limits: Yes

Rental Info

  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5196211
  • School Tax: 884.00
  • Tax Annual Amount: 984.00
  • Assessor Parcel Number: 334-14.14-31.00-507
  • County Tax Payment Frequency: Annually
  • Tax Year: 2018
  • Close Date: 11/25/2019

MLS Schools

  • School District Name: CAPE HENLOPEN

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
$943,397

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$393,397
Avg. Annual Appreciation
9.66%
Original Mortgage
$440,000
Outstanding Balance
$389,057
Interest Rate
3.75%
Mortgage Type
New Conventional
Estimated Equity
$554,340

Purchase Details

Closed on
Aug 6, 1998
Bought by
Vieser Ii Walter Nelson
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 Type Sale Price Title Company
Deed $550,000 --
Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $440,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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% --
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

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 $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

    Seller's Agent in 2023

    BRUCE WRIGHT

    Mann & Sons, Inc.

    (302) 542-7651

    18 in this area

    79 Total Sales

    BRUCE WRIGHT
    Section Image

  • J

    Seller Co-Listing Agent in 2023

    Joanie Hannigan

    Mann & Sons, Inc.

    (303) 227-9477

    15 in this area

    63 Total Sales

    Joanie Hannigan
    Section Image
  • Bill Cullin

    Buyer's Agent in 2023

    Bill Cullin

    Long & Foster

    (302) 841-7147

    67 in this area

    186 Total Sales

    Bill Cullin
    Section Image

  • B

    Seller's Agent in 2019

    BROWN THAWLEY

    Mann & Sons, Inc.

    Section Image
See All Agents

About Patrician Towers

Map

Source: Bright MLS

MLS Number: DESU139070

Bright MLS

APN: 334-14.14-31.00-507

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 507, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 507, Rehoboth Beach, DE 19971 and is currently priced at $550,000. This property was built in 1970. 8 Olive Ave Unit 507 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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