NOT LISTED FOR SALE

870 E 7th St Unit 412 Ocean City, NJ 08226

Estimated Value: $317,000 - $366,000

1 Bed
1 Bath
-- Sq Ft
0.76 Acres

Last Sold June 23, 2023

Last sale price $318,000

Est. 8% increase in value since last sale

Current estimated payment $2,042/month

103 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
  • Furnished

About This Home

As of June 2023

Beautiful top floor unit with ocean views. Updated with quartz counters, ceramic tile flooring and fully furnished. Incredible rental income for the astute investor. 2022 gross income of $36,515.00. Ocean 7 was magically transformed from a Grand Old Hotel into separately owned condominiums a few years ago. She offers all the conveniences of Hotel Living, daily check ins via the front desk, daily maid & linens service, on site management for care free ownership and heated resort style pool with sundeck. Includes parking and storage facility. Condo fees include water, sewer, hot water, flood & hazard insurance, common area maintenance, cable TV, Wi-Fi, & ELECTRIC! Located just a stones throw to the famous Ocean City beach & boardwalk.

Last Agent to Sell the Property

Robert Gullo

Fox Real Estate-Ocean Listed on: 02/23/2023

Last Buyer's Agent

Kaitlyn Lawlor

Keller Williams Realty Jersey Shore-Ocean City License #1862628

Keller Williams Realty Jersey Shore-Ocean City

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,117

Lot Details

  • 0.76

Parking

  • 1 Parking Space

Interior Spaces

  • 3-Story Property
  • Furnished
  • Drapes & Rods
  • Blinds
  • Water Views

Kitchen

  • Breakfast Area or Nook
  • Stove
  • Microwave

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Utilities

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

Additional Features

  • Deck
  • Building is beachfront but unit may not have water views
  • Unit is on the top floor

Community Details

Overview

  • Association fees include amenities, 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

$2,117

Lot Details

0

Listing Details

  • Class: Condominium
  • Type: Condo
  • Also Includes: Blinds, Curtains, Furnished
  • Lvt Date: 02/23/2023
  • Number Of Levels In Unit: One
  • Number Of Stories In Bldg: Three To Five
  • Unit Location: 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
  • Other Rooms: Breakfast Nook
  • Common Area Features: Cable Tv, Deck/Porch, Elevator, Laundromat On Site, Outside Shower, Pool, Storage Facility

Garage/Parking

  • Parking Exterior: One Car

Utilities

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

Condo/Co-op/Association

  • HOA Includes: Amenities, 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

Closed on
Aug 3, 2018
Sold by
Pilarz Kathleen A and Pilarz Gerald G
Bought by
Pilarz Kathlee N
Current Estimated Value
$342,405

Purchase Details

Closed on
Apr 17, 2017
Sold by
Maul Aaron S and Maul Kristine H
Bought by
Pilarz Gerald G and Pilarz Kathleen A

Purchase Details

Listed on
Dec 9, 2013
Closed on
May 29, 2014
Sold by
Newfield National Bank
Bought by
Maul Aaron S and Maul Kristine H
Seller's Agent
Susan Gardner
WEICHERT REALTORS ASBURY GROUP-OC
Buyer's Agent
PHILLIP DIGIACINTO
BALSLEY/LOSCO
List Price
$140,000
Sold Price
$140,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.34%
Original Mortgage
$105,000
Interest Rate
4.21%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 25, 2013
Sold by
Yoder Kenneth J and Woods Yoder Joan
Bought by
Newfield National Bank

Purchase Details

Closed on
May 25, 2007
Sold by
Beaver Properties Llc
Bought by
Yoder Kenneth and Woods Yoder Joann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$231,760
Interest Rate
6.19%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Pilarz Kathlee N -- --
Pilarz Gerald G $148,000 None Available
Maul Aaron S $140,000 North American Title Ins Co
Newfield National Bank $233,305 None Available
Yoder Kenneth $289,700 The Title Company Of Jersey
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Maul Aaron S $105,000
Previous Owner Yoder Kenneth $231,760
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/23/2023 06/23/23 Sold $318,000 -6.4% --
06/06/2023 06/06/23 Pending -- -- --
04/27/2023 04/27/23 Price Changed $339,900 -2.9% --
02/23/2023 02/23/23 For Sale $349,900 +149.9% --
06/28/2014 06/28/14 Sold $140,000 0.0% --
04/23/2014 04/23/14 Pending -- -- --
12/09/2013 12/09/13 For Sale $140,000 -- --
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 $2,117 $188,700 $95,600 $93,100
2024 $2,117 $188,700 $95,600 $93,100
2023 $2,021 $188,700 $95,600 $93,100
2022 $1,942 $188,700 $95,600 $93,100
2021 $1,408 $188,700 $95,600 $93,100
2020 $1,845 $188,700 $95,600 $93,100
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: 571431

South Jersey Shore Regional MLS

APN: 08-00701-0000-00015-0000-C412