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
Sold for $360,000
$360,000
507 Penguin Dr Unit 49, Ocean City, MD 21842
2beds
816sqft
Townhouse
Built in 1972
-- sqft lot
$380,200 Zestimate®
$441/sqft
$2,478 Estimated rent
Home value
$380,200
$350,000 - $411,000
$2,478/mo
Zestimate® history
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$2,205/mo
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List your homeWhat's special
Community poolOutside storageSouthern exposure deckAmple closet space
Zillow last checked:
Listing updated:
Listed by:
Mary Rice 410-726-4984,
Engel & Volkers Ocean City
Bought with:
Unrepresented Buyer
Unrepresented Buyer Office
Source: Bright MLS,MLS#: MDWO2028622
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 1
Basement
- Area: 0
Heating
- Heat Pump, Electric
Cooling
- Heat Pump, Central Air, Electric
Appliances
- Included: Disposal, Dishwasher, Microwave, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked, Water Heater, Electric Water Heater
- Laundry: Washer In Unit, Dryer In Unit
Features
- Ceiling Fan(s), Combination Kitchen/Dining
- Flooring: Carpet
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 816
- Total interior livable area: 816 sqft
- Finished area above ground: 816
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Assigned, Off Street
- Details: Assigned Parking, Assigned Space #: 49
Accessibility
- Accessibility features: 2+ Access Exits
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
- Exterior features: Awning(s), Lighting, Storage
- Pool features: Community
- On waterfront: Yes
- Waterfront features: Private Dock Site, Canal, Boat - Powered
- Body of water: Assawoman Bay
- Frontage length: Water Frontage Ft: 200
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 2410062462
- Zoning: R-2
- Special conditions: Standard
- Other equipment: Some
Construction
Type & style
- Home type: Townhouse
- Architectural style: Other
- Property subtype: Townhouse
Materials
- Mixed
- Foundation: Block
Condition
- New construction: No
- Year built: 1972
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected
Community & HOA
Community
- Features: Pool
- Condo and coop fee: $4,226 annually
- Subdivision: None Available
HOA
- Has HOA: No
- Amenities included: Pool
- Services included: Common Area Maintenance, Maintenance Structure, Maintenance Grounds, Management, Pool(s), Insurance, Reserve Funds
- HOA name: Bay Cove 1
Location
- Region: Ocean City
- Municipality: Ocean City
Financial & listing details
- Price per square foot: $441/sqft
- Tax assessed value: $235,400
- Annual tax amount: $3,295
- Date on market: 2/12/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Conventional,Bank Portfolio,Cash
- Exclusions: Vacume Cleaner
- Ownership: Condominium
Price history
| Date | Event | Price |
|---|---|---|
| 7/23/2025 | Sold | $360,000-2.7%$441/sqft |
Source:  Bright MLS #MDWO2028622 Report a problem | ||
| 7/21/2025 | Pending sale | $370,000$453/sqft |
Source: Bright MLS #MDWO2028622 Report a problem | ||
| 6/16/2025 | Contingent | $370,000$453/sqft |
Source: Bright MLS #MDWO2028622 Report a problem | ||
| 5/29/2025 | Price change | $370,000-2.6%$453/sqft |
Source: Bright MLS #MDWO2028622 Report a problem | ||
| 4/18/2025 | Price change | $380,000-4.8%$466/sqft |
Source: Bright MLS #MDWO2028622 Report a problem | ||
| 2/12/2025 | Listed for sale | $399,000+81.8%$489/sqft |
Source: Bright MLS #MDWO2028622 Report a problem | ||
| 2/16/2012 | Listing removed | $219,500$269/sqft |
Source: Coldwell Banker Residential Brokerage - Ocean City-104th #471516 Report a problem | ||
| 1/28/2012 | Price change | $219,500-8.5%$269/sqft |
Source: Coldwell Banker Residential Brokerage - Ocean City-104th #471516 Report a problem | ||
| 3/24/2011 | Listed for sale | $239,900$294/sqft |
Source: Coldwell Banker Residential Brokerage - Ocean City-104th #471516 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,844 +16.7% | $280,700 +19.2% |
| 2024 | $3,295 +23% | $235,400 +23.8% |
| 2023 | $2,680 | $190,100 |
| 2022 | $2,680 -0.2% | $190,100 |
| 2021 | $2,686 | $190,100 |
| 2020 | $2,686 -0.7% | $190,100 |
| 2019 | $2,704 +0.7% | $190,100 |
| 2018 | $2,685 -7.5% | $190,100 -7.5% |
| 2017 | $2,903 +9% | $205,600 +7.4% |
| 2016 | $2,663 | $191,467 +8% |
| 2015 | $2,663 | $177,333 +8.7% |
| 2014 | $2,663 | $163,200 |
| 2013 | -- | $163,200 |
| 2012 | -- | $163,200 -26.5% |
| 2011 | -- | $221,950 |
| 2010 | -- | $221,950 |
| 2009 | -- | $221,950 -17.8% |
| 2008 | -- | $270,090 +20.8% |
| 2007 | -- | $223,580 +21.6% |
| 2006 | -- | $183,870 +40.8% |
| 2005 | -- | $130,560 +13.7% |
| 2004 | -- | $114,872 +15.8% |
| 2003 | -- | $99,186 +18.8% |
| 2002 | -- | $83,500 +5.7% |
| 2001 | -- | $79,000 |
Find assessor info on the county website
Neighborhood: Midtown
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Nearby schools
GreatSchools rating
- 10/10Ocean City Elementary SchoolGrades: PK-4Distance: 1.8 mi
- 10/10Stephen Decatur Middle SchoolGrades: 7-8Distance: 6.2 mi
- 7/10Stephen Decatur High SchoolGrades: 9-12Distance: 6.1 mi
Schools provided by the listing agent
- Elementary: Ocean City
- District: Worcester County Public Schools
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Maryland
- Worcester County
- Ocean City
- 21842
- Midtown
- 507 Penguin Dr Unit 49
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