507 Penguin Drive #50, Ocean City, MD 21842 - Photo 1

1/1

$387,000

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

1/1

Property Description

Welcome to the beautiful bayfront community of Bay Cove I. This is a two bedroom affordable townhome w/ gorgeous south facing bay views, an outdoor pool, and conveys with your very own boat slip and lift! Nestled in the start of peaceful midtown OC just a few blocks from a grocer/deli, Jolly Rogers waterpark, go carts, mini golf, loads of restaraunts, Anthonys Deli, Castle in the Sand beach bar w/ live music, the start of the boardwalk for walks morning walks/bike rides, huge field for kids/dogs to play and Back Bay Adventures to rent jet skis, fishing & boat tours! Inside the home you'll enjoy a fully furnished and equipped turn key home including perks like; central heat/air, vinyl wood floors, custom kitchen cabinetry, granite countertops, SS appliances (fridge/dishwasher/garbage disposal all new!), washer/dryer, two door coded storage closets, convenient half bath on first floor and a nicely updated full bathroom on second with tile showers and updated fixtures. You even have a pull down attic for even more storage, so rare! Walk outside and soak up the sun on your composite deck & furniture. There is also an exterior shed and storage for all your water toys under your deck. Make friends with your fellow boaters, cool off in the pool, kickback relax and enjoy the sunsets w/ your evening dinner or cocktails and come see how inviting this street/overall location really is!

Full Property Details

Full Property Details for 507 Penguin Dr #50

General

Sold For: $387,000
HOA FEE: $367/month
HOA FEE FREQ.: Annually
Taxes: $4,056 (2025)
Status: Closed
Type: Townhouse
Source: BrightMLSMidAtlantic
MLS ID: MDWO2040408
Added to Site: 51 day(s) ago

Interior

Furnished: Yes

Rooms

Bathrooms

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

Bedrooms

Total Bedrooms: 2
Bedrooms Main & Up: 2

Other Rooms

Laundry: Dryer In Unit, Washer In Unit

Additional Information

Shared Amenities: Pool - Outdoor, Pier/Dock
Shared Pool: Yes
Pool: Yes

Parking

Assigned Spaces: 1
Total Spaces: 1
Parking Features: Assigned
Parking Type: Parking Lot

Location

Area: Bayside Waterfront (84)
Municipality: Ocean City
County: WORCESTER
Building Name: Bay Cove I
Driving Directions: GPS
Direction Faces: South
City Limits: Yes

School Information

School District: Worcester County Public Schools

Community

Assoc. Fees Include: Common Area Maintenance, Ext Bldg Maint, Insurance, Lawn Maintenance, Management, Pier/Dock Maintenance, Reserve Funds, Pool(s)
Pets Allowed: Yes
Pets: Dogs OK, Cats OK

Heating & Cooling

Central air: Yes
Cooling Type: Central A/C
Cooling Fuel: Electric
Heating Type: Central
Heating Fuel: Electric
Water Heater: Electric

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Architectural Style: Coastal
Structure Type: Interior Row/Townhouse
Construction: Frame, Vinyl Siding
Foundation: Crawl Space
Stories Description: Main
Square Feet: 816
Sq. Ft. Source: Assessor
Living Area: 816 Sq. Ft.
Finished Above Grnd: 816 Sq. Ft.
Year Built: 1972
Year Built Source: Assessor

Lot Features

Zoning: R-2

Water Features

Water Front: Yes
Navigable Water: Yes
Water Access: Yes
Water Front Type: Canal

Financial Considerations

Price Per Sq. Ft.: $484.07
Condo Fee: $4,400
Condo Fee Freq: Annually
Assessment Year: 2026
City/TownTax: $1,310
City/TownTax Freq: Annually
County Tax: $2,414
County Tax Freq: Annually
Tax w/Assessment: $349,200
Tax Amount: $4,056
Tax Year: 2025
Terms: Standard Sale
Tax Total Finished Sq. Ft.: 816

Disclosures and Reports

Ownership: Condominium
Condo: Yes
Exclusions: Ring Cam, Horse print, Items in closets & drawers, Storage shed items, storage box & paddleboard.
Inclusions: Fully Furnished and Equipped
Lot Number: 50

Listed by Berkshire Hathaway HomeServices PenFed Realty-WOC, Katie Quinn
Sold by Unrepresented, Unrepresented

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Listing agent

— 507 Penguin Dr #50 —

Katie Quinn

Berkshire Hathaway HomeServices PenFed Realty-WOC

Listing Office Email: ocwest@penfedrealty.com

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NMLS#: 1598647

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Schools

Schools serving 507 Penguin Dr #50

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
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 ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 507 Penguin Dr #50

Date

Details

Price

Change

Source

10/02/2026

Sold

$387,000

-2.03%

MLS

8/14/2026

Listed

$395,000

—

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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Beds
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Sq. Ft.

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Beds
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Townhouse
Closed
Updated 7 days ago

2
Beds
3
Total Baths
1,170
Sq. Ft.

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Closed

2
Beds
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Total Baths
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Sq. Ft.

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Sold

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Townhouse
Closed
Updated 11 days ago

1
Bed
2
Total Baths
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Sq. Ft.

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Condo
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Beds
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Total Baths
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Sq. Ft.

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507 Penguin Drive #50, Ocean City, MD 21842 (MLS# MDWO2040408) is a Townhouse property that was sold at $387,000 on October 02, 2026. Want to learn more about 507 Penguin Drive #50? 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 #50 Ocean City, MD 21842

Full Property Details for 507 Penguin Dr #50

General

Interior

Rooms

Bathrooms

Bedrooms

Other Rooms

Additional Information

Parking

Location

School Information

Community

Heating & Cooling

Utilities

Structural Information

Lot Features

Water Features

Financial Considerations

Disclosures and Reports

Listing agent

Get Pre-Approved Today

Be ready to buy your new home!

Be ready to buy your new home!

Schools serving 507 Penguin Dr #50

Price & Sales History for 507 Penguin Dr #50

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