27 days on rocket

2 48th St Unit 402, Ocean City, MD, 21842

$1,099,000

Home List Price

$10,000*

Closing Credit

3 Bedrooms
3 Full Baths
1,790 SqFt
$614/SqFt
Condo

Location

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2 48th St Unit 402, Ocean City$1,099,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingCovered Parking, Electric Vehicle Charging Station(s), Handicap Parking, Lighted Parking, Paved Driveway, Secure Parking, Surface, Unassigned, Attached Garage, Parking Lot
Garage2 spaces
Year Built2008
HeatingCentral
CoolingCentral Air
ViewBay, City, Ocean
MLS #MDWO2026410
StatusActive
(ACTIVE)

About 2 48th St Unit 402

Fantastic opportunity to own in the luxurious Gateway Grand complex in Ocean City, MD. This 3 bedroom 3 bath residence has been recently upgraded with fresh wall paint and a custom tile backsplash. The A-style floorplan offers guest privacy with each bedroom having an attached bathroom. The primary bedroom accesses the outdoor balcony and features ocean views. Step out onto the balcony each morning to watch the everchanging sunrise over the Atlantic Ocean. The Gateway Grand is an amenity rich building offering heating indoor and outdoor pools, a 24/7 fitness center, a kid's club room with video games and board games, conditioned beach storage, multiple owner's lounges, on-site management, on-site maintenance, and on-site security in the evenings. Residence 402 has access to two parking spaces in the controlled access parking garage, which now features 7 electric car chargers. The Gateway Grand will allow you to relax and enjoy your time at the beach without a care or worry. Deeded storage locker #185 conveys with this residence. This residence was in the rental program with Central Reservations and grossed nearly $47,000 in 2022 and $43,500 in 2023 and $49,044.24 in 2024. Some weeks were blocked in 2023 for owner use and it could produce more income if so desired by the new owners. Buyers to honor 2024 rentals.

Property Details

Property Features

Property Information:

  • Architectural Style: Unit/Flat
  • Year Built: 2008
  • Stories: 1
  • Living Area: 1,790 SqFt

Listing Office:

  • Office Name: Keller Williams Realty Delmarva
  • Office Phone: (410) 524-6400
  • Listing Agent: Jonathan M Barker

Interior Features

Interior Information:

  • Appliances: Microwave, Dishwasher, Disposal, Dryer, Freezer, Oven, Electric Range, Refrigerator, Washer
  • Basement: No
  • Flooring Type: Carpet, Ceramic Tile
  • Interior: Carpet, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Crown Moldings, Dining Area, Entry Level Bedroom, Flat, Floor Plan - Open, Pantry, Primary Bath(s), Recessed Lighting, Bathroom - Soaking Tub, Sprinkler System, Bathroom - Tub Shower, Upgraded Countertops, Walk-in Closet(s), WhirlPool/HotTub, Window Treatments

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 3

Exterior Features

Exterior Information:

  • View: Bay, City, Ocean
  • Exterior: Exterior Lighting, Outside Shower, Sidewalks, Underground Lawn Sprinkler

Parking Information:

  • Garage Space: 2 spaces
  • Parking: Covered Parking, Electric Vehicle Charging Station(s), Handicap Parking, Lighted Parking, Paved Driveway, Secure Parking, Surface, Unassigned, Attached Garage, Parking Lot

Virtual/3D Tour

  • 3D Tour: 2 48th St Unit 402
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Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Coastal Hwy South, Left on 48th Street, Building oceanfront on Left.

Municipality:

  • Ocean City

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,099,000
  • Price Per SqFt: $614/SqFt

Tax Information:

  • Annual Amount: $8,510
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Ocean City, MD.

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Ocean City, MD

City

Med. Sold Price

$449.5K

Med. Price/SqFt

$429

Avg. Days On Market

80

# of Sold Homes

90

2 48th St Unit 402 vs Ocean City

27 DAYS ON ROCKET

-53 Days

$1,099,000

+$649.4K More

$614/SqFt

+$185 More

KEY TAKEAWAY

This property is $649.4K more than the Median Sold Price and $185/SqFt more than other homes in Ocean City, MD.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #MDWO2026410

Listing Office:

  • Office Name: Keller Williams Realty Delmarva
  • Office Phone: (410) 524-6400
  • Listing Agent: Jonathan M Barker

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 8:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 05, 2009Home Sold
$599,900

Tax History

YEARPROP. TAXASSESSMENT
2021$8,510$602,200
2020$8,508$602,200
2019$8,566$602,200
2018$8,507$602,200
2017$8,507$602,200

History based on county public records data.

Payment Calculator

$5,553

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,361

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-360888
10
/10

  • Ocean City Elementary School

  • 12828 Center Dr

  • 2.73 miles

  • Public District Grades PK-4

school-card-donut-360889
9
/10

  • Showell Elementary School

  • 11318 Showell School Rd

  • 6.74 miles

  • Public District Grades PK-3

school-card-donut-360890
5
/10

  • Berlin Intermediate School

  • 309 Franklin Ave

  • 8.23 miles

  • Public District Grades 4-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $44,474. The majority of Ocean City, MD residents have income between $35k-100k annually. The most common type of family is single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Living In Ocean City, MD

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Ocean City, MD?

Ocean City's housing market is diverse, offering a mix of residential options that cater to a range of preferences. The area is known for its beachfront condominiums, which make up a significant portion of the housing stock, providing residents with scenic views and easy access to the beach. Single-family homes are also available, featuring styles from classic beach cottages to contemporary designs. The market is characterized by a mix of both year-round and seasonal properties, reflecting the city's popularity as a vacation destination.

Is Ocean City, MD a good place to live?

Ocean City is celebrated for its vibrant boardwalk, pristine beaches, and family-friendly atmosphere. The community prides itself on being a premier resort town, with numerous events throughout the year, including the famous Ocean City Air Show and the Sunfest music and arts festival. The town's character is shaped by its coastal environment, offering a relaxed lifestyle with a focus on outdoor recreation and water-based activities.

Are things conveniently located in Ocean City, MD?

The community is served by a range of essential services, including public schools that cater to residents and the seasonal influx of families. Healthcare is accessible through local clinics and urgent care centers, ensuring medical needs are met promptly. Ocean City also boasts a variety of retail shops and dining options, from casual eateries to fine dining, many of which showcase the local seafood cuisine. The town is proactive in maintaining and enhancing its services to accommodate both its permanent population and seasonal visitors.

What does the transportation in Ocean City, MD look like?

Transportation in Ocean City is well-suited to the needs of both residents and tourists. The town features a public bus service that runs along the Coastal Highway, providing convenient access to various points of interest. The area is also bike-friendly, with several bike paths and lanes available for those who prefer to cycle. For drivers, the city is easily navigable with well-maintained roads and highways connecting to nearby cities and attractions. While specific ride-sharing statistics are not mentioned, such services are commonly used by visitors and locals alike.

Frequently Asked Questions About 2 48th St Unit 402

What is the listing price of this property?

The listing price of 2 48th St Unit 402 property is $1,099,000.

What type of property is this?

The property 2 48th St Unit 402 is a condo located in Ocean City, Maryland, 21842.

Is this property for sale now?

Active Listing: 2 48th St Unit 402 is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $8,510 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on October 5, 2009 for $599,900. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 2 48th St Unit 402 has 3 bedrooms and 3 bathrooms.

What is the square footage of this property?

The property 2 48th St Unit 402 is 1,790 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 2 48th St Unit 402 is 2008.

Rocket Homes›Maryland›Worcester County›Ocean City›21842›2 48th St Unit 402

This home is located at 2 48th St Unit 402 in Ocean City, MD and zip code 21842. This 1,790 square foot home was built in 2008. Features: 3 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since October 20, 2024 and is currently priced at $1,099,000.

Over 12 listings were sold over their listed price in October 2024 in Ocean City, MD. In the same period over 67 listings were sold below the listed price and 11 listings were sold for the listed price. In October 2024 in Ocean City, MD there were 16.2% more homes for sale than in September 2024. While the average time on the market in October 2024 was 80 days, the median list price was $449,548.

From Rocket Homes Real Estate and based on county public records data.

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