tomo logo

$275,000

Beds
2
Baths
1.0
sq ft
568

207 8th St Unit 104W, Ocean City, MD 21842

207 8th St Unit 104W

OCEAN CITY, MD 21842

  • Coming soon
Investor Alert! Don't miss this fantastic opportunity to own a Turnkey 2-bedroom, 1-bathroom condo just 2 blocks from the iconic Ocean City Boardwalk. This charming First-floor unit has had a complete Kitchen Renovation with all new Cabinets, Countertops, and Appliances - just completed in Jan. 2025. LVP Floors were replaced in 2021, as well as updates to the Bathroom. The whole condo has been tastefully updated and decorated, creating a welcoming and stylish retreat, making it perfect for both investors and those seeking a personal beach getaway. With a strong rental history grossing over $28,000 in Season Only, this condo is ready to start generating revenue with several booked rentals through the Summer then enjoy for yourself during the off-season! Take a break from the beach and the enjoy the spacious Pool and Sun Deck area just steps away from your condo, or enjoy the bay side activities just 4 blocks away with public Fishing/Crabbing Pier, newly renovated Public Park. Seize the chance to add this gem to your investment portfolio or enjoy it as your perfect beach getaway!

Details

Property type

Condominium

Est. home value

$287,922

Lot size

Unknown

Price per sq ft

$485

Year built

1964

Annual property taxes

$2,591

HOA

No

Price History

08/30/2024
Bright

Bright #MDWO2022198

Removed
$274,990
08/16/2024
Bright

Bright #MDWO2022198

Price change
$274,990
-5.14%
08/01/2024
Bright

Bright #MDWO2022198

Listed
$289,900
+61.15%

Schools & Community

Neighborhood: 

Boardwalk/Inlet

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

STEPHEN DECATUR

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

$104,075
Asking price
$275,000
Closing costs (~8% of asking)
-$22,000
Est. remaining loan balance
-$148,925
Cash to seller
$104,075

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

Seller’s Loan History

Lender

Mclean Mortgage Corp

Loan start date

June 2021

Original loan amount

$161,910

Est. remaining balance

$148,925

Interest rate

2.96%

Loan type

New Conventional, 30 year

Seller

Benjamin H Wilhelms and Krista Wilhelms

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: Coming Soon

Tomo last checked: 03/03/2025 at 11:50 PM

Listing updated: 03/03/2025 at 1:19 PM

Listed by: Lauren Britt Hudson, Keller Williams Realty Delmarva Phone #: (410) 524-6400

MLS: Bright #MDWO2029042

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