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Sold for $499,000
    • $499,000

    8 Olive Ave APT 205, Rehoboth Beach, DE 19971

    1beds
    500sqft
    Condominium
    Built in 1970
    -- sqft lot
    $497,500 Zestimate®
    $998/sqft
    $1,519 Estimated rent

    Home value

    $497,500

    $473,000 - $522,000

    $1,519/mo

    Zestimate® history
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    What's special

    Corner unitTwo balconiesBright and inviting condoLaundry roomCovered off-street garage parking
    LOCATION, LOCATION, LOCATION! Welcome to Patrician Towers in Rehoboth Beach, DE, where coastal charm meets an unbeatable ocean-block location that truly sets it apart. Just a short distance from the beach and boardwalk, this fully furnished corner unit offers an unparalleled beachside experience. Featuring two balconies and three sets of sliding glass doors, this bright and inviting condo seamlessly blends indoor and outdoor living, perfect for enjoying the coastal breeze and morning coffee. The light-filled living and dining area creates a warm and welcoming space for your dream retreat. Patrician Towers boasts a rooftop pool and sun deck with breathtaking panoramic views of the beach and boardwalk, offering the ultimate escape to relax and unwind. The front courtyard’s tranquil koi pond with seating adds another serene retreat. Additional amenities include covered off-street garage parking, an elevator, on-site management, a laundry room, and outdoor facilities like sand showers and restrooms—all designed for your convenience. With Rehoboth’s renowned restaurants, boutique shops, arcades, and scenic walking and biking trails just minutes away, this condo truly places you at the heart of everything extraordinary. Sellers are willing to offer $10,000 with an acceptable offer to buyer, for buyers choice of: closing cost assistance, rate buy down, furniture allowance, renovation allowance

    Zillow last checked:

    Listing updated:

    Listed by:

    Sharon Daugherty 410-430-4004,

    Keller Williams Realty Delmarva

    Bought with:

    JOSEPH WILEY, RS-0016639

    MASTEN REALTY LLC

    Source: Bright MLS,MLS#: DESU2106556MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 1
    • Bathrooms: 1
    • Full bathrooms: 1
    • Main level bathrooms: 1
    • Main level bedrooms: 1
    Basement
    • Area: 0
    Heating
    • Forced Air, Electric
    Cooling
    • Central Air, Electric
    Appliances
    • Included: Dishwasher, Microwave, Refrigerator, Oven/Range - Electric, Electric Water Heater
    • Laundry: Common Area, In Unit
    Features
    • Combination Dining/Living
    • Has basement: No
    • Has fireplace: No
    Interior area
    • Total structure area: 500
    • Total interior livable area: 500 sqft
    • Finished area above ground: 500
    • Finished area below ground: 0

    Property

    Parking
    • Parking features: Off Street
    Accessibility
    • Accessibility features: Other
    Features
    • Levels: One
    • Stories: 1
    • Exterior features: Outdoor Shower, Sidewalks, Balcony
    • Pool features: Community
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 33414.1431.00205
    • Zoning: R
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: Condo
    • Architectural style: Coastal
    • Property subtype: Condominium
    • Attached to another structure: Yes
    Materials
    • Other
    Condition
    • New construction: No
    • Year built: 1970

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Condo and coop fee: $6,290 annually
    • Subdivision: North Rehoboth
    HOA
    • Has HOA: No
    • Amenities included: Elevator(s), Pool
    • Services included: Custodial Services Maintenance, Maintenance Structure, Insurance, Management, Pest Control, Reserve Funds, Water
    • HOA name: Patrician Towers Owners Inc.
    Location
    • Region: Rehoboth Beach

    Financial & listing details

    • Price per square foot: $998/sqft
    • Tax assessed value: $11,500
    • Annual tax amount: $788
    • Date on market: 3/6/2026
    • Listing agreement: Exclusive Right To Sell
    • Inclusions: Property Sold As Seen.
    • Exclusions: None
    • Ownership: Condominium

    Price history

    DateEventPrice
    4/16/2026Sold$499,000$998/sqft
    Source: Bright MLS #DESU2106556 Report a problem
    3/12/2026Contingent$499,000$998/sqft
    Source: Bright MLS #DESU2106556 Report a problem
    3/6/2026Listed for sale$499,000$998/sqft
    Source: Bright MLS #DESU2106556 Report a problem
    12/31/2025Listing removed$499,000$998/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    10/15/2025Price change$499,000-3.1%$998/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    9/3/2025Price change$515,000-6.3%$1,030/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    7/3/2025Price change$549,900-8.2%$1,100/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    4/28/2025Price change$599,000-4%$1,198/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    3/7/2025Price change$624,000-1.6%$1,248/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    12/11/2024Listed for sale$634,000-2.3%$1,268/sqft
    Source: Bright MLS #DESU2075476 Report a problem
    9/24/2024Listing removed$649,000$1,298/sqft
    Source: Bright MLS #DESU2062422 Report a problem
    5/14/2024Listed for sale$649,000+108.7%$1,298/sqft
    Source: Bright MLS #DESU2062422 Report a problem
    4/17/2017Sold$311,000$622/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$1,209 +113.3%$286,200 +2388.7%
    2024$567 +0.1%$11,500
    2023$566 +3.6%$11,500 +100%
    2022$547 +0.9%$5,750 -50%
    2021$542 +0.3%$11,500
    2020$540 $11,500
    2019$540 -0.1%$11,500
    2018$541 +7.1%$11,500
    2017$505 +9.9%$11,500
    2016$459 +4.7%$11,500
    2015$439 +0.7%$11,500
    2014$436 +2.9%$11,500
    2013$423 +0.4%$11,500
    2012$422 +11.9%$11,500
    2011$377 $11,500
    2010$377 -3%$11,500
    2009$389 $11,500
    2008-- --
    2007-- --
    2006-- --
    2005-- --
    2004-- --
    Find assessor info on the county website

    Neighborhood: 19971

    Nearby homes

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • District: Cape Henlopen

    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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