$285,000
●
Land -
Off Market
6 IVANHOE
OCEAN PINES, MD 21811
Studio
0 Bath
$2,972
Est. Monthly
$1,498
HOA / Fees
1.19%
Cap Rate
About This Property
Beautiful Waterfront property with expansive water view. The
property has access to deep water. One can make their way all
the way out to the Atlantic Ocean by boat. There are very few
waterfront properties in Ocean Pines. The buildable area on
this lot is 4900 square feet. The square footage would
include the house, deck and garage if you wanted a garage included.
The property is half cleared and the other half
partially covered with mature trees.
The Robert Trent Jones Golf Course is only 2 blocks away with newly built clubhouse. Full memberships are available. Ocean Pines has 5 pools including an indoor swimming pool. Ocean Pines owns the property on the Atlantic Ocean from 49th to 50th Streets which includes a Beach Club, pool and off street parking with plenty of space to sun on the beach. The community has a Yacht Club with 2 adjacent pools and Tiki Bar. as well as two racket club areas for tennis and pickleball. This property is a must see.
The Robert Trent Jones Golf Course is only 2 blocks away with newly built clubhouse. Full memberships are available. Ocean Pines has 5 pools including an indoor swimming pool. Ocean Pines owns the property on the Atlantic Ocean from 49th to 50th Streets which includes a Beach Club, pool and off street parking with plenty of space to sun on the beach. The community has a Yacht Club with 2 adjacent pools and Tiki Bar. as well as two racket club areas for tennis and pickleball. This property is a must see.
Unit Size
-
Days on Market
15 days
Land Size
0.48 acres
Price per sqft
-
Property Type
Land
Property Taxes
$135
HOA Dues
$1,498
Year Built
-
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100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (Bright MLS #MDWO2019196)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 10, 2024 | Sold | ||
| Sold | |||
| Apr 25, 2024 | In contract | - | |
| In contract | |||
| Feb 22, 2024 | Listed by Berkshire Hathaway HomeServices PenFed Realty - OP | $300,000 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty - OP | |||
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Type
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Closing Price
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HOA + Taxes
About Ocean Pines
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Listed by: Steve Howse
Berkshire Hathaway HomeServices PenFed Realty - OP
Last Updated: 3 hours ago
Data Source: Bright MLS , MLS# MDWO2019196
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Berkshire Hathaway HomeServices PenFed Realty - OP
Last Updated: 3 hours ago
Data Source: Bright MLS , MLS# MDWO2019196
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