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Backup Offers

2 48th St Unit 703, Ocean City, MD, 21842

$1,109,000

Home List Price

$10,000*

Closing Credit

3 Bedrooms
3 Full Baths
1,790 SqFt
$620/SqFt
Condo

Location

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2 48th St Unit 703, Ocean City$1,109,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

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
WaterfrontBeach
ViewBay, City, Ocean
MLS #MDWO2020868
StatusAccepting Backup Offers
(ACTIVE UNDER CONTRACT)

About 2 48th St Unit 703

Net Rental Income in 2024 was $50,527.36! The Gateway Grand #703 - A Luxurious Oceanfront Residence Nestled high above the surrounding properties, on the 7th floor of The Gateway Grand, #703 is a meticulously maintained 3-bedroom residence that epitomizes luxury living in Ocean City. This exquisite property boasts a spacious and open floorplan, providing an inviting ambiance and an abundance of natural light. One of its most striking features is the breathtaking southern-exposure panoramic views that grace this home. From its private balcony, residents and guests can revel in stunning vistas of the city skyline, the serene ocean, and the tranquil bay, making every moment a visual delight. Sunrise to Sunset this residence provides some of the most captivating views in the city. This residence has been lovingly cared for, with attention to detail evident in every corner. The living spaces are thoughtfully designed, offering both comfort and elegance. Whether you're enjoying a meal in the gourmet kitchen, lounging in the living room, or retiring to one of the three cozy bedrooms, you'll be enveloped in luxury. The Gateway Grand itself is Ocean City's pinnacle of oceanfront living. With its impeccable amenities and prime location, it offers residents a lifestyle of convenience and sophistication. From the elegant lobby to the direct beach access, the heated indoor pool, or the state-of-art fitness center, every aspect of this building is designed to cater to the desires of discerning homeowners. In summary, The Gateway Grand #703 is not just a residence; it's a sanctuary where you can indulge in the finest coastal living. Whether you're captivated by the ocean's waves, the city's charm, or the bay's tranquility, this property presents a unique opportunity to savor it all in one stunning package. Deeded mezzanine storage locker 143 conveys with residence. Buyer to honor any booked rentals for 2024.

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

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 3

Exterior Features

Exterior Information:

  • Waterfront: Beach
  • 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 703
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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: $1,109,000
  • Price Per SqFt: $620/SqFt

Tax Information:

  • Annual Amount: $9,093
  • 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 703 vs Ocean City

188 DAYS ON ROCKET

+108 Days

$1,109,000

+$659.4K More

$620/SqFt

+$191 More

KEY TAKEAWAY

This property is $659.4K more than the Median Sold Price and $191/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: #MDWO2020868

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: 11/14/2024, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jun 01, 2010Home Sold
$690,900

Tax History

YEARPROP. TAXASSESSMENT
2021$9,093$643,500
2020$9,092$643,500
2019$9,154$643,500
2018$9,090$643,500
2017$9,090$643,500

History based on county public records data.

Payment Calculator

$5,602

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,391

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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-166189
10
/10

  • Ocean City Elementary School

  • 12828 Center Dr

  • 2.73 miles

  • Public District Grades PK-4

school-card-donut-166190
9
/10

  • Showell Elementary School

  • 11318 Showell School Rd

  • 6.74 miles

  • Public District Grades PK-3

school-card-donut-166191
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 most common annual income of people living in Ocean City, MD is between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

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 703

What is the listing price of this property?

The listing price of 2 48th St Unit 703 property is $1,109,000.

What type of property is this?

The property 2 48th St Unit 703 is a condo located in Ocean City, Maryland, 21842.

Is this property for sale now?

Accepting Backup Offers: 2 48th St Unit 703 is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $9,093 (source: MLS/based on county public records data).

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

The last sale was on June 1, 2010 for $690,900. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 2 48th St Unit 703 has 3 bedrooms and 3 bathrooms.

What is the square footage of this property?

The property 2 48th St Unit 703 is 1,790 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 2 48th St Unit 703 is 2008.

Rocket Homes›Maryland›Worcester County›Ocean City›21842›2 48th St Unit 703

This home is located at 2 48th St Unit 703 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 May 10, 2024 and is currently priced at $1,109,000.

In October 2024, from all listings sold in Ocean City, MD there were more than 12 sold above asking price, over 67 sold below and more than 11 were sold right at the asked price. The inventory of homes for sale in Ocean City, MD between September 2024 and October 2024 increased by 16.2%. Listings spent 80 days on the market in October 2024, and had a median list price of $449,548 during the same period.

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

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