tomo logo

$4,750,000

Beds
9
Baths
9.0
sq ft
Unknown

202 Ocean St, Cape May, NJ 08204

202 Ocean St

CAPE MAY, NJ 08204

  • 64 days on market
Step into a rare opportunity to own a piece of Cape May’s rich history with Captain Mey’s Inn, an iconic bed and breakfast nestled in the heart of this charming seaside town. This grand corner property is just two blocks from the bustling Cape May Mall and the pristine beaches, offering a prime location for both relaxation and exploration. As you approach Captain Mey’s Inn, you’re greeted by an inviting wrap-around porch, the perfect spot to enjoy the gentle seaside breeze while sipping coffee or enjoying an afternoon read. The porch sets the tone for the warm and welcoming atmosphere that permeates this historic home. Inside, the expansive interior showcases meticulous craftsmanship and exquisite millwork. The inn features 9 beautifully renovated bedrooms and 9 well-appointed baths, each designed to provide comfort and elegance for your guests. Common areas invite socializing, whether during a shared breakfast or an evening gathering to recount the day’s adventures. One of the standout features of this property is the coveted parking lot next door at 206 Ocean Street, a rare asset in Cape May that provides ample off-street parking for guests and owners alike. This convenience allows for easy access to local attractions without the hassle of searching for parking. With its countless features and thoughtful updates, Captain Mey’s Inn is more than just a property; it’s a chance to embrace the spirit of Cape May and continue a cherished tradition. Don’t miss out on this remarkable gem in Cape May. Schedule your private tour today and envision the possibilities that await!

Details

Property type

Single Family Residence

Lot size

3,900 sq ft

Price per sq ft

Unknown

Year built

1890

Annual property taxes

$15,635.83

HOA

No

Price History

10/19/2024
Bright

Bright #NJCM2004228

Listed
$4,750,000
-4.04%
06/27/2024
Bright

Bright #NJCM2002552

Removed
$4,950,000
09/13/2023
Bright

Bright #NJCM2002552

Listed
$4,950,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

LOWER CAPE MAY REGIONAL 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

$3,978,702
Asking price
$4,750,000
Closing costs (~8% of asking)
-$380,000
Est. remaining loan balance
-$391,298
Cash to seller
$3,978,702

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

Seller’s Loan History

Lender

Draper & Kramer Mortgage Corp

Loan start date

January 2023

Original loan amount

$400,000

Est. remaining balance

$391,298

Interest rate

6.58%

Loan type

New Conventional, 30 year

Seller

Kimberly Bernstein and Richard Holtz

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: Active

Tomo last checked: 12/22/2024 at 5:20 AM

Listing updated: 11/15/2024 at 4:34 PM

Listed by: George J Kelly, Keller Williams Realty - Cherry Hill Phone #: (856) 321-1212

MLS: Bright #NJCM2004228

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