109 Somerset St Unit 5B2 Ocean City, MD 21842
3
Beds
2.5
Baths
1,360
Sq Ft
$333/mo
HOA Fee
Highlights
- Oceanside
- Traditional Architecture
- Furnished
- Ocean City Elementary School Rated A
- Engineered Wood Flooring
- 3-minute walk to Sunset Park
About This Home
As of July 2024Very large townhouse with 2 bedroom 2.5 baths in desirable downtown location. Walk to beach, boardwalk, amusements, inlet, bayside water sports, festivals, restaurants, pubs, shops and more. Just 2 blocks to boardwalk and 1 block to bay, you will not need to move your car once you arrive. There is under unit 2 car assigned parking, outside shower and outside storage unit. This is a small 6 unit condominium which is self managed. Unit has newly installed Smartcore vinyl plank engineered wood flooring on the 1st floor. All furnishings convey. This could be a turnkey rental property with strong rental history. 2022 $41,191 gross income, 2023 $35,357 gross income and YTD bookings 2024 $27,417. 2024 rentals must be honored. Roof is approximately 4 years old and building exterior is very well maintained.
Last Agent to Sell the Property
Berkshire Hathaway HomeServices PenFed Realty - OP License #39515
Townhouse Details
Home Type
- Townhome
Est. Annual Taxes
- $3,239
Year Built
- Built in 2002
Lot Details
- Extensive Hardscape
- Property is in very good condition
HOA Fees
- $333 Monthly HOA Fees
Parking
- 2 Car Garage
Home Design
- Traditional Architecture
- Frame Construction
- Asphalt Roof
- Vinyl Siding
- Piling Construction
- Masonry
Interior Spaces
- 1,360 Sq Ft Home
- Property has 2 Levels
- Furnished
- Ceiling Fan
- Electric Fireplace
Kitchen
- Electric Oven or Range
- Stove
- Built-In Microwave
- Ice Maker
- Dishwasher
- Disposal
Flooring
- Engineered Wood
- Carpet
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
Laundry
- Laundry on main level
- Electric Dryer
- Washer
Outdoor Features
- Outdoor Shower
- Oceanside
- Exterior Lighting
- Outdoor Storage
- Rain Gutters
Location
- Flood Risk
Utilities
- Forced Air Heating and Cooling System
- Heat Pump System
- Vented Exhaust Fan
- Electric Water Heater
- Municipal Trash
- Phone Available
- Cable TV Available
Listing and Financial Details
- Property is used as a vacation rental
- Tax Lot 5
- Assessor Parcel Number 2410410118
Community Details
Overview
- Association fees include common area maintenance, exterior building maintenance, insurance, lawn maintenance, reserve funds
- Nowalk To The Boardwalk Condos
- Nowalk To The Boardwalk Community
Amenities
- Community Storage Space
Pet Policy
- No Pets Allowed
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/01/2024 07/01/24 | Sold | $545,000 | -0.7% | $401 / Sq Ft |
| 05/19/2024 05/19/24 | Pending | -- | -- | -- |
| 05/11/2024 05/11/24 | For Sale | $549,000 | -- | $404 / Sq Ft |
Source: Bright MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $3,239 | $252,933 | $0 | $0 |
| 2023 | $3,239 | $229,800 | $114,900 | $114,900 |
| 2022 | $3,230 | $229,800 | $114,900 | $114,900 |
| 2021 | $3,247 | $229,800 | $114,900 | $114,900 |
| 2020 | $3,247 | $229,800 | $114,900 | $114,900 |
| 2019 | $3,269 | $229,800 | $114,900 | $114,900 |
| 2018 | $3,237 | $229,800 | $114,900 | $114,900 |
| 2017 | $3,246 | $229,800 | $0 | $0 |
| 2016 | -- | $223,000 | $0 | $0 |
| 2015 | $3,346 | $216,200 | $0 | $0 |
| 2014 | $3,346 | $209,400 | $0 | $0 |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $436,000 | New Conventional | |
| Previous Owner | $215,000 | New Conventional | |
| Previous Owner | $91,000 | Credit Line Revolving | |
| Previous Owner | $336,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $268,000 | Purchase Money Mortgage | |
| Previous Owner | $50,250 | Stand Alone Second | |
| Closed | -- | No Value Available |
Source: Public Records
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $545,000 | Ocean Investments Title | |
| Deed | $165,000 | None Available | |
| Deed | $130,000 | -- | |
| Deed | -- | -- |
Source: Public Records
Similar Homes in Ocean City, MD
Source: Bright MLS
MLS Number: MDWO2020890
APN: 10-410118
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