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$1,090,000

Beds
5
Baths
3.0
sq ft
2,648

503 S Surf Rd, Ocean City, MD 21842

503 S Surf Rd

OCEAN CITY, MD 21842

  • 55 days on market
Welcome to your dream home! This 4-bedroom, 3 full bath waterfront property on a serene lagoon has been recently remodeled in a modern style. Additionally, the sunroom has been converted into a spacious 5th bedroom. The home features recessed lighting, stylish light fixtures, and luxury vinyl plank flooring throughout. It has been freshly painted and offers fully remodeled kitchen, bathrooms, along with a new washer and dryer. A new water heater ensures comfort and efficiency. The kitchen is a chef’s delight, boasting a massive luxury quartz kitchen island perfect for entertaining, with plenty of seating around it. The upstairs living room is spacious, featuring a wood-burning fireplace, a 75’’ TV, a wet bar, and two large couches leading to a deck with breathtaking water views and sunsets. Upstairs, you’ll find three more beautifully remodeled bedrooms and full bathrooms. The primary bedroom is generously sized with numerous windows, offering plenty of natural light. The en-suite bathroom includes a walk-in tile shower with a luxurious rain showerhead. This home is fully furnished with modern style and high-quality furniture by Article. The 2-car garage has been converted into a recreation room, complete with games and entertainment options, and ample storage for beach chairs. The property generates a rental income of $75,000 during the season. Outdoor amenities include multiple decks, a boat dock for boats and jet skis, and easy access to the Bay. There are great options for expanding your space. Whether you’re considering purchasing the adjacent lots for $299,500 each, with fencing and mature landscaping, or building another home to create space for a pool or a yard, both choices offer exciting possibilities. Plus, this property is not in a flood zone. This is a must-see property! Don’t miss out on this incredible opportunity!

Details

Property type

Single Family Residence

Est. home value

$937,542

Lot size

4,500 sq ft

Price per sq ft

$412

Year built

1982

Annual property taxes

$7,830

HOA

No

Price History

10/06/2024
Bright

Bright #MDWO2025930

Listed
$1,090,000
+16.02%
04/01/2021
Bright

Bright #MDWO119886

Sold
$939,500

Schools & Community

Neighborhood: 

North Ocean City

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

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

$500,084
Asking price
$1,090,000
Closing costs (~8% of asking)
-$87,200
Est. remaining loan balance
-$502,716
Cash to seller
$500,084

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

Seller’s Loan History

Lender

Movement Mortgage

Loan start date

March 2021

Original loan amount

$548,250

Est. remaining balance

$502,716

Interest rate

2.73%

Loan type

New Conventional, 30 year

Seller

Aleksejs Buinovskis and Deniss Klimins

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: 11/22/2024 at 5:20 AM

Listing updated: 10/09/2024 at 9:56 AM

Listed by: INESE DONOFRIO, Coldwell Banker Realty Phone #: (302) 539-1777

MLS: Bright #MDWO2025930

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