$265,000
SOLD MAY 3, 2022

870 E 7th St Unit 401 Ocean City, NJ 08226

1 Bed
1 Bath
-- Sq Ft
0.76 Acres

Recently Sold

2% Above List Price

93 Days on Market

Highlights

  • Water Views
  • Unit is on the top floor
  • Deck
  • Ocean City Primary School Rated A
  • Building is beachfront but unit may not have water views
  • End Unit

About This Home

As of May 2022

Newly redone top floor corner Ocean 7 Condominium 1-bedroom, double queen bed, unit with ocean views from the bedroom! Queen-sized sofa bed; unit sleeps 6. Rental income: grossed over $33,500 in 2021! This place is turn-key in every sense of the term. Front desk check-in, on-site management, heated pool, parking, storage, and bike rack. Condo fee includes water, sewer, hot water, insurances, maintenance, cable TV, Wi-Fi, and electric. Steps from Ocean City's wonderful beach and famous boardwalk!

Last Agent to Sell the Property

William Friedman

Keller Williams Realty Jersey Shore-Ocean City License #SP-9805393 Listed on: 12/15/2021

Keller Williams Realty Jersey Shore-Ocean City

Last Buyer's Agent

Adam Brown

BHHS FOX and ROACH-Margate License #2076411

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,457

Lot Details

  • Building is beachfront but unit may not have water views
  • End Unit

Home Design

  • Concrete Siding

Interior Spaces

  • 3-Story Property
  • Furnished
  • Blinds
  • Water Views

Kitchen

  • Stove
  • Microwave

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Parking

  • 1 Parking Space
  • Off-Site Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating Available
  • Cable TV Available

Additional Features

  • Deck
  • Unit is on the top floor

Community Details

Overview

  • Association fees include amenities, electric, insurance, maintenance, management, sewer, trash, water, hot water, air conditioning, heat, cable, pool
  • Ocean 7 Condos

Amenities

  • Laundry Facilities
  • Elevator
  • Community Storage Space

Recreation

  • Community Boardwalk
  • Outdoor Community Showers
  • Community Pool

Pet Policy

  • No Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,457

Lot Details

0

Listing Details

  • Class: Condominium
  • Type: Condo
  • Also Includes: Blinds, Furnished
  • Lvt Date: 12/15/2021
  • Number Of Levels In Unit: One
  • Number Of Stories In Bldg: Three To Five
  • Unit Location: End Unit, Top Floor, Water View
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 2

Interior Features

  • Appliances: Electric Stove, Microwave, Refrigerator
  • Bedrooms: 1
  • Full Bathrooms: 1
  • Common Area Features: Cable Tv, Deck/Porch, Elevator, Laundromat On Site, Outside Shower, Pool, Storage Facility

Exterior Features

  • Siding Exterior: Concrete, Masonry/Block

Garage/Parking

  • Parking Exterior: One Car, Off Site Parking

Utilities

  • Air Conditioner: Wall Units
  • Heating: Electric
  • Sewer: Public Sewer
  • Water: Public Water

Condo/Co-op/Association

  • HOA Includes: Amenities, Electric, Insurance, Maintenance, Management, Sewer, Trash, Water, Hot Water, Air Conditioning, Heat, Cable, Pool
  • Condo Name: Ocean 7
  • Management: On-Site Professionals

Lot Info

  • Location: Beach Block, Boardwalk Area

Rental Info

  • Pets: No Pets Allowed

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 15, 2021
Closed on
Apr 22, 2022
Sold by
Rugg1er1 and Jennifer
Bought by
Ice Tyler and Ice Stephanie
Seller's Agent
William Friedman
Keller Williams Realty Jersey Shore-Ocean City
Buyer's Agent
Adam Brown
BHHS FOX and ROACH-Margate
List Price
$260,000
Sold Price
$265,000
Premium/Discount to List
$5,000
1.92%
Current Estimated Value
$328,776

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$63,776
Avg. Annual Appreciation
7.02%
Original Mortgage
$195,000
Outstanding Balance
$185,648
Interest Rate
5%
Mortgage Type
New Conventional
Estimated Equity
$145,220

Purchase Details

Listed on
Jun 11, 2018
Closed on
Jul 31, 2018
Sold by
Amega Enterprises Llc
Bought by
Ruggieri Charles and Ruggieri Jennifer
Seller's Agent
Michael Hoffman
MARR AGENCY
Buyer's Agent
William Friedman
Keller Williams Realty Jersey Shore-Ocean City
List Price
$139,900
Sold Price
$135,000
Premium/Discount to List
-$4,900
-3.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.53%

Purchase Details

Listed on
Feb 1, 2013
Closed on
Mar 13, 2015
Sold by
Newfield National Bank
Bought by
Amega Enterprises Llc
Seller's Agent
Michael Hoffman
MARR AGENCY
Buyer's Agent
Michael Hoffman
MARR AGENCY
List Price
$116,000
Sold Price
$116,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.62%

Purchase Details

Closed on
Feb 5, 2012
Sold by
Woods James A and Woods Josephine
Bought by
Newfield National Bank

Purchase Details

Closed on
Oct 27, 2006
Sold by
Beaver Properties Llc
Bought by
Woods James A and Woods Josephine

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$195,830
Interest Rate
6.47%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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Range of Values:

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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 $265,000 Foundation Title
Deed $135,000 --
Bargain Sale Deed $116,000 Surety Title Company
Sheriffs Deed -- None Available
Deed $279,700 The Title Company Of Jersey
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $195,000 New Conventional
Previous Owner $195,830 Purchase Money Mortgage
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/03/2022 05/03/22 Sold $265,000 +1.9% --
03/18/2022 03/18/22 Pending -- -- --
12/15/2021 12/15/21 For Sale $260,000 +92.6% --
07/23/2018 07/23/18 Sold $135,000 -3.5% --
06/20/2018 06/20/18 Pending -- -- --
06/11/2018 06/11/18 For Sale $139,900 +20.6% --
03/16/2015 03/16/15 Sold $116,000 0.0% --
02/06/2015 02/06/15 Pending -- -- --
02/01/2013 02/01/13 For Sale $116,000 -- --
Source: South Jersey Shore Regional 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 $1,457 $129,900 $51,200 $78,700
2024 $1,457 $129,900 $51,200 $78,700
2023 $1,391 $129,900 $51,200 $78,700
2022 $1,337 $129,900 $51,200 $78,700
2021 $968 $129,900 $51,200 $78,700
2020 $1,270 $129,900 $51,200 $78,700
2019 $1,825 $188,700 $95,600 $93,100
2018 $1,808 $188,700 $95,600 $93,100
2017 $1,779 $188,700 $95,600 $93,100
2016 $1,712 $188,700 $95,600 $93,100
2015 $1,689 $188,700 $95,600 $93,100
2014 $1,664 $188,700 $95,600 $93,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: South Jersey Shore Regional MLS

MLS Number: 558162

South Jersey Shore Regional MLS

APN: 08-00701-0000-00015-0000-C401