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
For sale
Price cut: $19K (4/18)
$380,000
507 Penguin Dr UNIT 49, Ocean City, MD 21842
2beds
816sqft
Est.:
Townhouse
Built in 1972
-- sqft lot
$370,600 Zestimate®
$466/sqft
$352/mo HOA
What's special
Community poolOutside storageSouthern exposure deckAmple closet space
- 92 days
- on Zillow |
- 1,047 |
- 33 |
Likely to sell faster than
Zillow last checked: 7 hours ago
Listing updated: May 05, 2025 at 05:25pm
Listed by:
Mary Rice 410-726-4984,
Engel & Volkers Ocean City (443) 292-6767
Source: Bright MLS,MLS#: MDWO2028622

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
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
Video & virtual tour
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
- 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
- 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
- Condo and coop fee: $4,226 annually
Location
- Region: Ocean City
- Municipality: Ocean City
Financial & listing details
- Price per square foot: $466/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
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