Patterson-Schwartz Real Estate205 5Th Street #45, Ocean City, MD 21842 $479,000
With Pending Contract
Interior Sq. Ft: 895
Acreage:
Age:84 years
Style:
Coastal
Subdivision: Hitchens & Trimper
Design/Type:
Unit/Flat/Apartment
Description
A guest favorite vacation rental property, this property has generated $198,547 in revenue, as a short term rental, over the past 4 years for an average of $49636/yr. Located in the heart of Downtown Ocean City. A short walk to the bay and the beach. This unit comes fully furnished and ready to be listed for rent or move yourself right in. Enjoy the oversized spacious deck or hang inside where the mini split installed in 2023 will keep the inside nice and cool. If you like to hang out in the sun, enjoy the Parrot Bay community pool only 100' from your door. Only a block away is the bayside boardwalk and newly renovated park on 4th st and 3 short blocks from the Boardwalk and beach. Off Street parking is always crucial in Ocean City and on site security helps keep the community of Parrot Bay peaceful and enjoyable. The Parrot Bay association also provides internet. Electrical Panels were upgraded in 2021. Inside the unit you will find 3 bedrooms and 2 full bathrooms, a kitchen with new (2021) quartz countertops and new Appliances (2023), also you will find the dining room past the kitchen with a rear door to a wrap around deck and stairs. Additional storage for the building under the deck stairwell and along the side of the unit. In addition to the Condo Dues there is a quarterly fee of $697 due for building reserves in compliance to House Bill 107. The reserves are building specific so you don't pay for other buildings maintenance aside from common elements. The total combined monthly HOA and Reserve is $683/month.
Home Assoc: No
Condo Assoc: $1,368/Quarterly
Basement: N
Pool: Yes - Community
Elem. School: Ocean City Mid. School: Stephen Decatur High School: Stephen Decatur
Features
Utilities
Baseboard - Electric Heating, Electric, Ductless/Mini-Split, Electric, Hot Water - Electric, Public Water, Public Sewer, Shared Laundry, Cable TV Available, Electric Available, Phone Available
Garage/Parking
Off Street
Interior
Luxury Vinyl Plank Flooring, Dry Wall, Accessibility - 2+ Access Exits
Exterior
Block Foundation, Shingle Roof, Vinyl Siding, Deck(s), In Ground Pool
Lot
Bayblock
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (1 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Ocean City Elementary | Worcester County Public Schools | Preschool–4 | Ocean City | 1.4 mi |
Private (1 schools)
| School | Grades | Place | Distance | |
|---|---|---|---|---|
| Seaside Christian Academy | Christian (no specific denomination) | Preschool–12 | Ocean City | 1.35 mi |
© 2024 LiveBy. All Rights Reserved.
This report is a detailed community overview for Ocean City (21842), Maryland.
Community Quick Facts
- Average travel time to work for people in this community: 21
- Average salary of people in this community: $46,876
Community Summary
- Population Density (ppl / mile): 683
- Household Size (ppl): 2.04
- Households w/ Children: 22%
Housing Inventory
- Owned: 3,625 (11.1%)
- Rented: 1,559 (4.8%)
- Vacant: 27,482 (84.1%)
- Total: 32,666
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 2.8%
- Some High School: 5.5%
- High School Graduate: 28.9%
- Some College: 22.0%
- Associate Degree: 8.5%
- Bachelor's Degree: 21.3%
- Graduate Degree: 10.9%
Income by dollar range
Median Income: $55,064
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $713
- One Bedroom: $830
- Two Bedroom: $1,105
- Three Bedroom: $1,412
- Four Bedroom: $3,501
© 2024 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-545-9278
Listing Courtesy of: Long & Foster Real Estate, Inc. , (410) 879-8080, mikes@lnf.com
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 in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 12/22/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
