Date
Details
Price
Change
Source
10/07/2026
Listed
$345,000
—
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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1/8
$345,000 Coming Soon
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Property Description
Professional photos coming soon! LOWEST-PRICED 2-BEDROOM WITH A DEEDED BOAT SLIP! Get ready for fun in this waterfront 2-bedroom, 1.5-bath townhome in desirable midtown Ocean City, Maryland. Fully furnished and ready to enjoy, this is the perfect beach-and-boating getaway for making memories. Boaters will love having a deeded boat slip directly off your waterfront deck. Step through the kitchen's sliding doors onto your southern-exposure composite deck, hop on the boat, and you can be out to the bay in minutes. After a day on the water, relax on the deck with dinner or cocktails and enjoy the beautiful evening sunsets. Located in the Bay Cove community, the townhome is just steps from the community pool, making it easy to cool off, meet the neighbors, and enjoy everything that makes Ocean City summers special. Inside, you'll find central air and heat, ample closet space, a pull-down attic for additional storage. Outside, there is a storage shed plus additional under-deck storage-perfect for beach gear, boating equipment, paddleboards, and all your summer toys. The kitchen does need some TLC following a previous dishwasher leak, giving the next owner an opportunity to update the space to their taste. A new dishwasher is included with the sale but has not yet been installed. Take the off season to make this property your dream for the 2027 summer. With a well-run association, midtown location, community pool, deeded boat slip, abundant storage, and furnishings included, this property offers tremendous potential as an Ocean City beach and boating retreat.
Full Property Details
Full Property Details for 507 Penguin Dr #53
General
- Price: $345,000
- HOA FEE: $367/month
- HOA FEE FREQ.: Annually
- Taxes: $4,748 (2026)
- Status: Coming Soon
- Type: Townhouse
- Source: BrightMLSMidAtlantic
- MLS ID: MDWO2041850
- Updated: 10/7/2026
- Added to Site: 3 day(s) ago
- Expected Market Date: 10/10/2026
Interior
- Number of Rooms: 6
- Rooms/Areas: Living Room, Kitchen, Half Bath
- Interior Features: Ceiling Fan(s), Combination Kitchen/Dining
- Appliances: Dishwasher, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked, Water Heater
- 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: Dryer In Unit, Washer In Unit
Additional Information
- Shared Amenities: Pier/Dock, Pool - Outdoor
- Shared Pool: Yes
- Pool: Yes
Exterior
- Exterior Features: Outbuilding(s), Exterior Lighting
Parking
- Assigned Spaces: 1
- Total Spaces: 53
- Parking Features: Assigned
- Parking Type: Parking Lot
Location
- Area: Bayside Waterfront (84)
- County: WORCESTER
- Building Name: Bay Cove I
- Driving Directions: GOS to address
- Direction Faces: North
- Location Details: Canal
- City Limits: Yes
School Information
- School District: Worcester County Public Schools
- Elementary School: Ocean City
- High School: Stephen Decatur
Community
- Assoc. Fees Include: Water, Trash, Reserve Funds, Pool(s), Pier/Dock Maintenance, Snow Removal, Lawn Maintenance, Management
- Pets Allowed: Yes
- Pets: No Pet Restrictions
Heating & Cooling
- Cooling Type: Heat Pump(s)
- Cooling Fuel: Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable TV Available, Electric Available
Structural Information
- Architectural Style: Coastal
- Structure Type: Interior Row/Townhouse
- Construction: Combination
- Foundation: Block
- Entry Floor Number: 1
- Stories Description: Main, Upper 1
- 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
- Property Condition: Average
Unit Information
- Unit Floor in Bldg.: 2
Lot Features
- Property View: Canal
- Zoning: R-2
Water Features
- Water Front: Yes
- Water View: Yes
- Navigable Water: Yes
- Water Access: Yes
- Water Front Type: Canal
- Dock/Slip Conveys: Yes
- Docks: 1
Financial Considerations
- Price Per Sq. Ft.: $422.79
- Condo Fee: $4,400
- Condo Fee Freq: Annually
- Assessment Year: 2026
- City/TownTax: $1,510
- City/TownTax Freq: Annually
- County Tax: $2,846
- County Tax Freq: Annually
- Tax w/Assessment: $349,200
- Tax Amount: $4,748
- Tax Year: 2026
- Tax Total Finished Sq. Ft.: 816
Disclosures and Reports
- Ownership: Condominium
- Condo: Yes
- Exclusions: Piano, person items, will complete list in next days or two
- Lot Number: 53
Listed by Engel & Volkers Ocean City, Mary E Rice
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Listing agent
— 507 Penguin Dr #53 —
Mary E Rice
Engel & Volkers Ocean City
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 507 Penguin Dr #53
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 #53
Tax History
Tax History for 507 Penguin Dr #53
Year
Property Taxes
Change
Tax Assessment
Change
2026
$4,733
77%
$349,200
18%
2023
$2,680
—
$296,167
56%
2023
$2,680
—
$190,100
—
2021
$2,686
-1%
$190,100
—
2020
$2,704
1%
$190,100
—
2019
$2,685
-8%
$190,100
-8%
2018
$2,904
7%
$205,600
7%
2017
$2,718
8%
$191,467
8%
2016
$2,527
14%
$177,333
9%
2015
$2,207
—
$163,200
—
2014
$2,210
—
$163,200
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 507 Penguin Dr #53
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- Active
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- Townhouse
- Closed
- Updated 14 hours ago
- 2Beds
- 2Total Baths
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- Updated 12 days ago
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- 2Total Baths
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Listed by Kim Bounds
Sold by Coastal Life Realty Group LLC, Kevin E Decker
Sold by Coastal Life Realty Group LLC, Kevin E Decker
507 Penguin Drive #53, Ocean City, MD 21842 (MLS# MDWO2041850) is a Townhouse property with 2 bedrooms, 1 full bathroom and 1 partial bathroom. 507 Penguin Drive #53 is currently listed for $345,000 and was received on October 07, 2026. Want to learn more about 507 Penguin Drive #53? 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.