1 year on rocket

5 87th St Unit 301, Ocean City, MD, 21842

$1,500,000

Home List Price

$10,000*

Closing Credit

5 Bedrooms
4 Full Baths, 1 Partial
2,725 SqFt
$550/SqFt
Condo

Location

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5 87th St Unit 301, Ocean City$1,500,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingParking Lot
Year Built2007
HeatingHeat Pump
CoolingCeiling Fan(s), Central Air, Heat Pump
MLS #MDWO2017506
StatusActive
(ACTIVE)

About 5 87th St Unit 301

This amazing spacious unit has 5 bedrooms and 4.5 baths, new HVAC unit, newly replaced sliding doors, and surround sound featured in the open living areas as well as wrap around balconies with views of the beach, Atlantic Ocean & Assawoman Bay. The condo has 3 covered assigned spaces, for no hassle parking and a building elevator for ease of trips to and from the beach. "Sunset" Unit 301, at 2722 sq ft, is a proven high income producing rental that is being offered turn key/ fully furnished so all you have to do it start collecting the rental income. Sunset also features LVP flooring, granite counters & island, tray ceilings as well as sliders and windows galore. To the east of this unit sits a beautifully decorated terrace perfect for entertaining and or family gatherings. This is an incredible offering to allow large families or great travel friends to own together in one of the most desirable garden style condo buildings in town or an incredible investment opportunity that could bring in over $100k+- in gross rental income per year per unit

Property Details

Property Features

Property Information:

  • Architectural Style: Unit/Flat
  • Year Built: 2007
  • Living Area: 2,725 SqFt

Listing Office:

  • Office Name: Sheppard Realty Inc
  • Office Phone: (443) 783-0299
  • Listing Agent: Jenny Sheppard

Interior Features

Interior Information:

  • Appliances: Microwave, Dishwasher, Disposal, Dryer, Exhaust Fan, Refrigerator, Stainless Steel Appliances, Stove, Washer, Water Heater
  • Basement: No
  • Interior: Bar, Ceiling Fan(s), Central Vacuum, Combination Dining/Living, Dining Area, Elevator, Entry Level Bedroom, Floor Plan - Open, Kitchen - Gourmet, Primary Bath(s), Recessed Lighting, Upgraded Countertops, Window Treatments

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 4
  • Total Bedroom Count: 5

Exterior Features

Parking Information:

  • Parking: Parking Lot

Utilities

Utilities Information:

  • Heating: Heat Pump
  • Cooling: Ceiling Fan(s), Central Air, Heat Pump

Other

Directions Information:

  • Directions: 87th street bayside

Municipality:

  • Ocean City

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,500,000
  • Price Per SqFt: $550/SqFt

Tax Information:

  • Annual Amount: $8,664
  • 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

$449.6K

Med. Price/SqFt

$427

Avg. Days On Market

56

# of Sold Homes

87

5 87th St Unit 301 vs Ocean City

410 DAYS ON ROCKET

+354 Days

$1,500,000

+$1.0M More

$550/SqFt

+$122 More

KEY TAKEAWAY

This property is $1.0M more than the Median Sold Price and $122/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: #MDWO2017506

Listing Office:

  • Office Name: Sheppard Realty Inc
  • Office Phone: (443) 783-0299
  • Listing Agent: Jenny Sheppard

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: 12/22/2024, 4:20:55 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 20, 2010Home Sold
$1,040,000

Tax History

YEARPROP. TAXASSESSMENT
2021$8,664$613,100
2020$8,662$613,100
2019$8,721$613,100
2018$8,661$613,100
2017$10,085$713,900

History based on county public records data.

Payment Calculator

$7,554

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,564

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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-874483
10
/10

  • Ocean City Elementary School

  • 12828 Center Dr

  • 4.74 miles

  • Public District Grades PK-4

school-card-donut-874484
9
/10

  • Showell Elementary School

  • 11318 Showell School Rd

  • 7.26 miles

  • Public District Grades PK-3

school-card-donut-874485
7
/10

  • Showell (Phillip C.) Elementary School

  • 41 Bethany Rd

  • 9.33 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $44,474. Residents of Ocean City, MD typically earn between $35k-100k each year. Residents typically live in single, no kids family. Most 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.

Types of housing 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.

What is it like to live in Ocean City, MD?

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.

Is it easy to get around Ocean City, MD without a car?

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.

Transportation in Ocean City, MD.

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 5 87th St Unit 301

What is the listing price of this property?

The listing price of 5 87th St Unit 301 property is $1,500,000.

What type of property is this?

The property 5 87th St Unit 301 is a condo located in Ocean City, Maryland, 21842.

Is this property for sale now?

Active Listing: 5 87th St Unit 301 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 $8,664 (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 20, 2010 for $1,040,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 5 87th St Unit 301 has 5 bedrooms and 4 full and 1 half bathrooms.

What is the square footage of this property?

The property 5 87th St Unit 301 is 2,725 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 5 87th St Unit 301 is 2007.

Rocket Homes›Maryland›Worcester County›Ocean City›21842›5 87th St Unit 301

This home is located at 5 87th St Unit 301 in Ocean City, MD and zip code 21842. This 2,725 square foot home was built in 2007. Features: 5 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since November 08, 2023 and is currently priced at $1,500,000.

In November 2024, from all listings sold in Ocean City, MD there were more than 15 sold above asking price, over 57 sold below and more than 15 were sold right at the asked price. The inventory of homes for sale in Ocean City, MD between October 2024 and November 2024 increased by 0.2%. While the average time on the market in November 2024 was 56 days, the median list price was $449,666.

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

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