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507 Penguin Dr Unit 53 , Ocean City, MD 21842
$345,000
Est. Payment: $1,836.23/mo
2 Bed
2 Bath
816 Sqft
Status: active | Days on site: 29
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GRYN2 - 3292774
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House Description

Open House Saturday 10/24/2026 10am-12:30pm. This property is a boater dream as deed dock within minutes to the inlet or a short term rental being close to Jolly Rogers and the beach. 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.

Highlights

Listed by Mary E Rice , 4107264984 Engel & Volkers Ocean City , 4432926767. Bright MLS

Property Type

Condo

Year Built

1972

County

Worcester

Area

Bayside Waterfront (84)

Neighborhood

Hitchens & Trimper

School District

Worcester County Public Schools

Listing ID

MDWO2041850

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:2
  • ▪ Bathrooms:2
  • ▪ Full Bathrooms:1
  • ▪ 1/2 Bathrooms:1
Appliances:Dishwasher, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked, Water Heater
Air Cond:Heat Pump(s)
Fireplaces:
Above Ground Sq Ft:816
Other:
  • ▪ Additional:Ceiling Fan(s), Combination Kitchen/Dining, No Pet Restrictions, Pets Allowed
Water:Public

Exterior Features

Lot:Not New Construction,Horse Property: No,Waterfront,In City Limits
Garage Capacity:53
Zoning:R-2
Others:
  • ▪ Additional:Outbuilding(s), Exterior Lighting, Average, Pier/Dock, Pool - Outdoor, Water, Trash, Reserve Funds, Pool(s), Pier/Dock Maintenance, Snow Removal, Lawn Maintenance, Management
Sewer:Public Sewer
Parking Features:Assigned,Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Principal Interest
$1,836
Taxes
$396

Home Price

$345,000

Loan Details

30 yrs
7%

Down Payment

20%
$69,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,836.23

Principal

Taxes

HOA

Principal Taxes HOA Total
Monthly $1,836.23 $395.67 $4,400.00 $6,631.90
Yearly $22,034.82 $4,748.00 $52,800.00 $79,582.82
Total $661,044.56 $142,440.00 $1,584,000.00 $2,387,484.56
Lender profile image
Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Ocean City, MD).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bright MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-13T23:12:42.000Z

© 2026 Bright MLS