507 Penguin Drive #49, Ocean City, MD 21842 - Photo 1

1/1

$360,000

Sold
Closed
Townhouse
2 Beds
1 Full Bath
1 Partial Bath
816 Sq. Ft.

1/1

Property Description

ADJUSTED PRICE - ready for your summer boat fun! LOWEST PRICED 2 BEDROOM with DEEDED BOAT DOCK AND LIFT on MARKET. This waterfront 2 bedroom 1 and 1/2 bath townhouse in mid-town Ocean City Maryland with a deed boat slip and lift, is perfect for summer fun with friends and family. Foam insulation in crawl space, central a/c and heat, well run association and mid town location. WHY WAIT! Fully Furnished and ready for boat The fully furnished beach house is ready for making memories. Bay Cove has a community pool and is just across the street from your townhome, adds to the appeal of this beach house. The townhome has ample closet space, pull down stairs to attic (floored) for more storage, and an outside storage for beach equipment or boat works. Walk out the sliding door from your kitchen onto your southern exposure deck with steps to jump on your boat and be out to the bay in a minute. Make an appointment soon to tour this mid-town Ocean City property

Full Property Details

Full Property Details for 507 Penguin Dr #49

General

Sold For: $360,000
Taxes: $3,295 (2024)
Status: Closed
Type: Townhouse
Source: BrightMLSMidAtlantic
MLS ID: MDWO2028622
Added to Site: 339 day(s) ago

Interior

Interior Features: Carpet, Ceiling Fan(s), Combination Kitchen/Dining
Appliances: Disposal, Dishwasher, Microwave, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked, Water Heater - High-Efficiency
Furnished: Yes

Rooms

Bathrooms

Total Bathrooms: 2
Full Bathrooms: 1
Half Bathrooms: 1
Upper Floor Baths: 1
Upper - Full Baths: 1
Main Floor Baths: 1
Main - 1/2 Baths: 1

Bedrooms

Total Bedrooms: 2
Bedrooms Upper: 2

Other Rooms

Laundry: Washer In Unit, Dryer In Unit

Additional Information

Shared Amenities: Pool - Outdoor
Shared Pool: Yes
Pool: Yes

Exterior

Exterior Features: Awning(s), Exterior Lighting, Secure Storage
Porch/Patio/Deck: Deck(s)

Parking

Assigned Spaces: 2
Total Spaces: 1
Parking Features: Assigned
Parking Type: Off Street

Location

Area: Bayside Waterfront (84)
Municipality: Ocean City
County: Worcester
Development Name: None Available
Subdivision: None Available
Building Name: Bay Cove I
Driving Directions: GPS to address
Location Details: Canal
City Limits: Yes

School Information

School District: Worcester County Public Schools
Elementary School: Ocean City

Community

Assoc. Fees Include: Common Area Maintenance, Ext Bldg Maint, Lawn Maintenance, Management, Pool(s), Insurance, Reserve Funds
Pets Allowed: Yes
Pets: Case by Case Basis

Heating & Cooling

Central air: Yes
Cooling Type: Heat Pump(s), Central A/C
Cooling Fuel: Electric
Heating Type: Heat Pump(s)
Heating Fuel: Electric
Water Heater: Electric

Utilities

Sewer: Public Sewer
Water: Public
Utility Description: Cable TV

Structural Information

Architectural Info: Other
Architectural Style: Other
Structure Type: Interior Row/Townhouse
Construction: Mixed
Foundation: Block
Stories/Levels: 0
Stories Description: Main, Upper 1
Square Feet: 816
Sq. Ft. Source: Assessor
Living Area: 816 Sq. Ft.
Year Built: 1972
Year Built Source: Assessor

Lot Features

Lot Dimensions: 0.00 x 0.00
Zoning: R-2

Water Features

Water Front: Yes
Navigable Water: Yes
Water Access: Yes
Water Access Desc: Boat - Powered
Water Front Type: Canal
Water Front Name: assawoman Bay
Dock/Slip Conveys: Yes
Docks: 1

Financial Considerations

Price Per Sq. Ft.: $453.43
Assessment Year: 2024
City/TownTax: $1,041
City/TownTax Freq: Annually
County Tax: $1,989
County Tax Freq: Annually
Tax w/Assessment: $235,400
Tax Amount: $3,295
Tax Year: 2024
Terms: Standard Sale
Tax Total Finished Sq. Ft.: 816

Disclosures and Reports

Ownership: Condominium
Condo: Yes
Exclusions: vacume cleaner
Lot Number: 49

Listed by Engel & Volkers Ocean City, Mary E Rice
Sold by Unrepresented Buyer Office, Unrepresented Buyer

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Listing agent

— 507 Penguin Dr #49 —

Mary E Rice

Engel & Volkers Ocean City

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Schools

Schools serving 507 Penguin Dr #49

School District:Worcester County Public Schools

Name	Grades	Distance
Ocean City Elementary School 12828 Center Drive, Ocean City, MD 21842	PK-4	1.8 mi
Berlin Intermediate School 309 Franklin Avenue, Berlin, MD 21811	4-6	7.4 mi
Stephen Decatur Middle School, Berlin, MD 9815 Seahawk Road, Berlin, MD 21811	7-8	6.1 mi
Stephen Decatur High School 9913 Seahawk Road, Berlin, MD 21811	9-12	6.1 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 507 Penguin Dr #49

Date

Details

Price

Change

Source

7/23/2025

Sold

$360,000

-2.7%

MLS

5/29/2025

Price Reduced

$370,000

-2.63%

MLS

4/18/2025

Price Reduced

$380,000

-4.76%

MLS

2/12/2025

Listed

$399,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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507 Penguin Drive #49, Ocean City, MD 21842 (MLS# MDWO2028622) is a Townhouse property that was sold at $360,000 on July 23, 2025. Want to learn more about 507 Penguin Drive #49? Do you have questions about finding other Townhouse real estate for sale in Ocean City? You can browse all Ocean City real estate or contact a Coldwell Banker agent to request more information.

507 Penguin Dr #49 Ocean City, MD 21842