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$209,900

Beds
1
Baths
1.0
sq ft
408

2301 Philadelphia Ave Unit 207, Ocean City, MD 21842

2301 Philadelphia Ave Unit 207

OCEAN CITY, MD 21842

  • 1 day on market
Discover the perfectly affordable beach getaway on the bayside with this charming 1 bed, 1 bath unit ideally located off Coastal Highway on 23rd St. This unit's location in the building offers bayside canal view from entire living area & bedroom (the unit has a permanent wall that was installed to change it from an efficiency unit to a 1 bedroom). Open floor plan from kitchen into living area, and kitchen island seats 4 for eat-in dining. The kitchen offers an electric range, built-in microwave, dishwasher and full size refrigerator with bottom drawer freezer. Westward Ho just did an exterior renovation in spring of '24, and the building offers an elevator, outdoor shower, small picnic & grilling area that overlooks canal which leads to open bay, and laundry facilities on site (one for owners only, and a second for renters). Also, water consumption is included in condo fee, but fixture fees are paid for by unit owner. Each unit in the building receives two parking passes. There is a private boat launch ramp that owners in Westward Ho are allowed to use if they show proof of ownership, and there is also a boat tie-up area in the canal (no storing of boat or trailer in parking lot is allowed). It is a non smoking building. Safely cross at a stoplight for a short walk to the beach and boardwalk! Also, it's a hop, skip and a jump to some of Ocean City’s most popular mini-golf, restaurants and bars. The unit is sold furnished. Currently rented to year-round tenant whose lease is up in April '25, buyer must honor lease. With excellent short term and seasonal rental potential, you can make an investment at the beach!

Details

Property type

Condominium

Est. home value

$196,918

Lot size

Unknown

Price per sq ft

$515

Year built

1975

Annual property taxes

$1,362

HOA

No

Price History

10/04/2024
Bright

Bright #MDWO2023494

Listed
$209,900
+74.92%
10/19/2020
Bright

Bright #MDWO116872

Sold
$120,000
+23.71%
11/09/2017
Bright

Bright #1000517662

Sold
$97,000

Schools & Community

Neighborhood: 

Boardwalk/Inlet

Elementary school: 

OCEAN CITY

Middle school: 

BERLIN INTERMEDIATE SCHOOL

High school: 

STEPHEN DECATUR

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

$128,528
Asking price
$209,900
Closing costs (~8% of asking)
-$16,792
Est. remaining loan balance
-$64,580
Cash to seller
$128,528

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

Seller’s Loan History

Lender

Branch Banking And Trust Co

Loan start date

November 2017

Original loan amount

$75,000

Est. remaining balance

$64,580

Interest rate

3.83%

Loan type

New Conventional, 30 year

Seller

Dennis E Bowles and Denise R Bowles

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: 10/04/2024 at 10:25 PM

Listing updated: 10/04/2024 at 9:26 AM

Listed by: Lauren W. Bunting, Keller Williams Realty Delmarva Phone #: (410) 524-6400

MLS: Bright #MDWO2023494

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