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508 Edgewater Ave, Ocean City, MD, 21842

$925,000

Home List Price

$10,000*

Closing Credit

6 Bedrooms
4 Full Baths
3,294 SqFt
$281/SqFt
House
Schools Nearby

Location

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508 Edgewater Ave, Ocean City$925,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeSingle Family Residence
ParkingCrushed Stone, Concrete Driveway, Driveway, Off Site, On Street
Year Built1960
HeatingForced Air
CoolingMulti Unit(s)
FireplaceGas/Propane
ViewBay, Water
MLS #MDWO2015850
Lot Size0.11 Acres
StatusAccepting Backup Offers
(ACTIVE UNDER CONTRACT)

About 508 Edgewater Ave

508 Edgewater Avenue, Ocean City, MD. Bay views from all units. 3 Apartments, 6 bedrooms, 4 baths. Welcome to an extremely desirable vacation rental/investment property in downtown Ocean City. This charming property has 3 apartments, a fantastic downtown Ocean City location, in a tranquil bayside neighborhood less than 100 feet from the bay. The property has a long history of short-term and long-term rental revenue. It has no HOA. Apartment #1, 1st floor, is approximately 550 sq ft. It sleeps 4 and features 1 bedroom, 1 full bath, full kitchen, washer/dryer, and a spacious living area with picture window. Apartment #2, 1st floor, is approximately 1,000 sq ft. It sleeps 6 and features 2 bedrooms, 1 full bath, full kitchen, washer/dryer, and a large, covered porch. Apartment #3, 2nd floor, is approximately 1,700 sq ft. It sleeps additional persons due the oversized bedrooms and features 3 bedrooms, 2 full baths, full kitchen, separate washer/dryer, a very large living area, and a very large wrap-around sun deck. Step inside any of the 3 apartments and experience Ocean City charm. The spacious living areas in each apartment boast a stylish and comfortable atmosphere, feature practical seating, and beachy décor. Each fully equipped kitchen offers modern appliances and ample counter space for preparing meals. Parking is available for 4 cars. A public paid parking lot is close by. This exceptional property is a short distance to entertainment, pubs, shopping, beach, fabulous boardwalk, amusements, rides, and food. Located between 3rd and 4th streets (2 blocks away), the Ocean City Downtown Recreation Complex offers a lighted multipurpose ballfield, and a small ballfield appropriate for youth softball games, as well as a playground area. The complex also has basketball hoops and two hard tennis courts. The Ocean Bowl Skate Park is adjacent to the complex. Sold fully furnished.

Property Details

Property Features

Property Information:

  • Architectural Style: Coastal
  • Year Built: 1960
  • Stories: 2
  • Living Area: 3,294 SqFt

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices PenFed Realty
  • Office Phone: (410) 524-7000
  • Listing Agent: Mechelle Nichols

Interior Features

Interior Information:

  • Appliances: Water Heater, Washer/Dryer Stacked, Refrigerator, Oven, Electric Range, Self Cleaning Oven, Microwave, Dryer, Disposal, Dishwasher
  • Basement: No
  • Flooring Type: Bamboo, Hardwood, Tile/Brick
  • Interior: 2nd Kitchen, Attic, Carpet, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Combination Kitchen/Living, Floor Plan - Open, Tub Shower, Stall Shower, Wood Floors
  • Fireplace: Gas/Propane

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 6

Exterior Features

Exterior Information:

  • View: Bay, Water
  • Exterior: Awning(s), Exterior Lighting, Gutter System

Parking Information:

  • Parking: Crushed Stone, Concrete Driveway, Driveway, Off Site, On Street

Lot Features

Lot Information:

  • Lot Size: 0.11 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: Multi Unit(s)

School Info

Assigned Schools Information:

  • Stephen Decatur High School, Public District Grades 9-12
  • Stephen Decatur Middle School, Public District Grades 7-8
  • Berlin Intermediate School, Public District Grades 4-6
  • Ocean City Elementary School, Public District Grades PK-4

Other

Directions Information:

  • Directions: Edgewater Ave between 5th and 6th streets bayside.

Municipality:

  • Ocean City

Price Information

Listing Price Info

Price Summary:

  • List Price: $925,000
  • Price Per SqFt: $281/SqFt

Tax Information:

  • Annual Amount: $7,990
  • 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

$440.2K

Med. Price/SqFt

$432

Avg. Days On Market

45

# of Sold Homes

89

508 Edgewater Ave vs Ocean City

250 DAYS ON ROCKET

+205 Days

$925,000

+$484.7K More

$281/SqFt

-$152 Less

KEY TAKEAWAY

This property is $484.7K more than the Median Sold Price and $152/SqFt less 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: #MDWO2015850

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices PenFed Realty
  • Office Phone: (410) 524-7000
  • Listing Agent: Mechelle Nichols

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: 4/25/2024, 2:06:19 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

May 05, 2021Home Sold
$725,000
Oct 12, 2000Home Sold
$279,000

Tax History

YEARPROP. TAXASSESSMENT
2021$7,990$565,400
2020$7,679$543,533
2019$6,514$521,667
2018$6,235$499,800
2017$6,215$499,800

History based on county public records data.

Payment Calculator

$4,684

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,840

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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.

Elementary School

school-card-donut-199745
10
/10

  • Ocean City Elementary School

  • 12828 Center Dr

  • 1.32 miles

  • Public District Grades PK-4

Middle School

school-card-donut-199746
8
/10

  • Stephen Decatur Middle School

  • 9815 Seahawk Rd

  • 5.61 miles

  • Public District Grades 7-8

school-card-donut-199747
7
/10

  • Berlin Intermediate School

  • 309 Franklin Ave

  • 6.81 miles

  • Public District Grades 4-6

High School

school-card-donut-199748
6
/10

  • Stephen Decatur High School

  • 9913 Seahawk Rd

  • 5.67 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $55,076. The most common annual income of people living in Ocean City, MD is between $35k-100k. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 508 Edgewater Ave

What is the listing price of this property?

The listing price of 508 Edgewater Ave property is $925,000.

What type of property is this?

The property 508 Edgewater Ave is a house located in Ocean City, Maryland, 21842.

Is this property for sale now?

Accepting Backup Offers: 508 Edgewater Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What are the assigned schools for this property?

The assigned schools for 508 Edgewater Ave are:
Ocean City Elementary School: GreatSchools Rating 10/10
Stephen Decatur Middle School: GreatSchools Rating 8/10
Berlin Intermediate School: GreatSchools Rating 7/10
Stephen Decatur High School: GreatSchools Rating 6/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $7,990 (source: MLS/based on county public records data).

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

The last sale was on May 5, 2021 for $725,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 508 Edgewater Ave has 6 bedrooms and 4 bathrooms.

What is the square footage of this property?

The property 508 Edgewater Ave is 3,294 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 508 Edgewater Ave is 1960.

Rocket Homes›Maryland›Worcester County›Ocean City›21842›508 Edgewater Ave

This home is located at 508 Edgewater Ave in Ocean City, MD and zip code 21842. This 3,294 square foot home, which was built in 1960, sits on a 0.11 acre lot. Features: 6 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since August 18, 2023 and is currently priced at $925,000.

In March 2024, from all listings sold in Ocean City, MD there were more than 12 sold above asking price, over 61 sold below and more than 16 were sold right at the asked price. Between February 2024 and March 2024, Ocean City, MD real estate market has seen increase in the number of listings by 9.3%. In March 2024 median list price was $440,233 and the average listing age was 45 days.

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

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