Most dream of their own private paradise – escaping to the beach at a moment’s whim. Property in Ocean City provides a close getaway without requiring long travel times.
Typically, you are only able to vacation once or twice throughout the summer, forcing your secondary dwelling to sit idly by awaiting your return. Purchasing a home with excellent rental potential allows you to escape, while providing income when stuck in the city.
This home will quickly earn income to recoup your expenses and long-term investment benefits.
Custom built as a Builder’s Personal Property – this home exudes luxury and excellence for you and your family. Plenty of natural light flows throughout the home’s open, airy layout. The main living area flows into the dining room with gas fireplace. Huge windows and glass sliding doors magnify the openness of the living space and lead out to the rear decks. Cathedral ceilings contribute to the vast open feel. Crown molding brings an element of elegance to the space.
Panoramic views with private dock and boat lift blends water with home. The beauty of the water complements this property. The sprawling entertaining spaces flow outside to multi-level sun decks and tranquil bay views. First floor Master Suite offers built in dressing table and en-suite tile bath with soaking tub. Upstairs has guest rooms with private bath plus huge 3rd floor bonus room with Ocean City skyline views. Extras include – In ground sprinklers, insulated windows, off street parking, storm doors, and jet tub.
This bay front property lists at $1,140,000. With 20% down, the estimated monthly mortgage payment is $4288.56 equaling $51,462.72 annually. Projected yearly total operating income is $73,103, with weekly rental income ranging from $7,295 in-season to $2495 off-season. Your total expense would be offset with sizable income allowances.
To learn more about 13461 MADISON AVENUE and this amazing community, contact Mechelle Nichols, Luxury Collection Specialist, at 410.430.1575 (cell) or mnichols@LuxuryShoreLiving.com.