501 Penguin Dr #1A01, Ocean City, MD, 21842
About This Home
Bright, sunny end unit in Crab Cove!! Beautifully kept 3-bedroom, 2-1/2 bath home with a modern kitchen with window, newer cabinets and new Samsung kitchen appliances. The kitchen includes pantry storage for all the extras needed for the beach days! The living room seats 7-8 people and leads out to the covered deck overlooking the bay with fabulous sunsets!! Here is where you could take the stairs down to the boat dock. The owner's suite has a queen bed and bath with a shower along with a small balcony to sit and enjoy the ocean air!! The 2nd bedroom has a queen bed with access to the hall bath and a small balcony. Upstairs is the 3rd bedroom for guests. The dock in the back of the property can be accessed by walking around the home to the lift by Hi Tide Boat Lift or down the stairs from the deck. The Community boat slip is just next to your dock on the end. Close to restaurants, shopping and best of all Jolly Roger Amusements! Kids playground!! Sit back, relax and enjoy the best of Ocean City!!
Getting Around
Car-Dependent
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1983
Materials
- Foundation: Block,Concrete Perimeter
- Construction materials: Vinyl Siding
Type & Style
- Home type: Townhouse
- Architectural style: Coastal,Contemporary
- Property subType: Townhouse
Interior
Appliances
- Appliances included: Electric Water Heater
Basement
- Area: 0
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bathrooms: 1
Features
- Finished area below ground: 0
- Finished area above ground: 1,118
Heating & Cooling
- Heating features: Baseboard,Electric
- Cooling features: Ceiling Fan(s),Ductless,Electric
Interior Area
- Total structure area: 1,118
- Total interior livable area: 1,118 sqft
Property
Accessibility
- Accessibility features: 2+ Access Exits,Accessible Hallway(s)
Details
- Parcel number: 2410230519
- Zoning: R-2
- Special condition: Standard
Features
- Levels: Three
- Stories: 3
- Pool features: Community
- On waterfront: Yes
- Waterfront features: Bay
- Frontage length: Water Frontage Ft: 25
Lot
- Lot size dimensions: 0.00 x 0.00
Parking
- Parking features: Parking Lot,On Street
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Hurricane
- Winter Weather
- Cold Wave
- Inland Flooding
- Ice Storm
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Maryland Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,907 | $34,884 |
| Home Insurance * | $211 | $2,532 |
| Property Taxes | $654 | $7,848 |
| Electricity | $281 | $3,374 |
| Total | $4,053 | $48,636 |
Income You'd Need if You Spent...
Maryland FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-13 | Price change | $560,000 |
| 2026-06-13 | Price change | $575,000 |
| 2026-06-12 | Listed for sale | $525,000 |
| 2013-10-29 | Sold | $269,000 |
| 2013-03-10 | Listed for sale | $275,000 |
View on Zillow