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$567,960Estimated home value

Beds
3
Baths
2.0
sq ft
1,440

102 25th St Unit 101, Ocean City, MD 21842

102 25th St Unit 101

OCEAN CITY, MD 21842

  • Sold On 8/23/2024
    • Price drop $12,100↓
Don't miss out on this amazing opportunity to own a stunning 3 bedroom ocean block condo just 1 block from the world-famous Ocean City Boardwalk! Gaze at the ocean view from the large wrap-around balcony and also catch a glimpse of the bay. The open floor plan floods the space with natural light through multiple windows and sliders. The fully equipped kitchen boasts quartz counters, a convenient breakfast bar, and new stainless steel appliances. Enjoy the warmth and coziness of the gas fireplace, along with the modern amenities of ceiling fans, recessed lighting, crown molding, fire sprinkler system and new vinyl wood flooring in living room & dining area. New furnishings in 2024 include the couch, dining room table & chairs, sofa table, ottoman and entryway storage unit / 2023 the queen bed frame was replaced / 2022 include the king bed, bed frame and the twin bed in the bunk room. Also, all TV's have all been replaced within the past 3 years. The primary bedroom features an en-suite bathroom, a walk-in closet and sliders to the balcony. This condo is not only perfect as a second home but also has great rental potential. The consistent rentals have netted the seller $37K in 2022, $35K in 2023 and for 2024 there is $32K net booked with more weeks open for rentals! The convenient location at 25th St allows for easy access to the Beach, Boardwalk, Jolly Rogers Amusement & Water Park, miniature golf, water sports, many restaurants, shopping and entertainment. Mahalo amenities include an outdoor pool, 2 assigned covered parking spaces, an elevator, a private storage shed and the gas for the fireplace is included in the condo fees. The reserve study has been completed and there are no special assessments, per management company. Time to start making your beach memories here!

Details

Property type

Condominium

Est. home value

$567,960

Lot size

Unknown

Price per sq ft

$452

Year built

2005

Annual property taxes

$4,466

HOA

No

Price History

08/23/2024
Bright

Bright #MDWO2021192

Sold
$640,000
-1.52%
07/31/2024
Bright

Bright #MDWO2021192

Pending
$649,900
06/24/2024
Bright

Bright #MDWO2021192

Price change
$649,900
-1.83%

Schools & Community

Neighborhood: 

Boardwalk/Inlet

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Pool

School district: 

WORCESTER COUNTY PUBLIC SCHOOLS

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$294,601
Asking price
$649,900
Closing costs (~8% of asking)
-$51,992
Est. remaining loan balance
-$303,307
Cash to seller
$294,601

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

First Home Mortgage Corp

Loan start date

October 2019

Original loan amount

$337,500

Est. remaining balance

$303,307

Interest rate

3.49%

Loan type

New Conventional, 30 year

Seller

David Michael Bogden and Katie Bogden

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Off Market

Tomo last checked: 09/28/2024 at 8:35 PM

Listing updated: 08/23/2024 at 1:08 PM

Listed by: David L Whittington Jr., Coastal Life Realty Group LLC Phone #: (443) 552-7579

MLS: Bright #MDWO2021192

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