507 Penguin Drive # 50 Ocean City, MD $ 395,000
507 Penguin Drive # 50
$ 395,000
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507 Penguin Drive # 50

Ocean City, MD, 21842
$ 395,000
Bedrooms2 Baths1.1 Sq 816

Monthly Estimate*

$ 2,494

507 Penguin Drive # 50, Ocean City, MD 21842 - Image 1
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 2
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 3
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 4
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 5
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 6
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 7
507 Penguin Drive # 50, Ocean City, MD 21842 - Image 8

Condo for sale in Ocean City, MD

for $395,000 with 2 bedrooms and 1 full bath, 1 half bath. This 816 square foot condo was built in 1972.

Welcome to the beautiful bayfront community of Bay Cove I. This is a two bedroom affordable townhome w/ gorgeous south facing bay views, an outdoor pool, and conveys with your very own boat slip and lift! Nestled in the start of peaceful midtown OC just a few blocks from a grocer/deli, Jolly Rogers waterpark, go carts, mini golf, loads of restaraunts, Anthonys Deli, Castle in the Sand beach bar w/ live music, the start of the boardwalk for walks morning walks/bike rides, huge field for kids/dogs to play and Back Bay Adventures to rent jet skis, fishing & boat tours! Inside the home you'll enjoy a fully furnished and equipped turn key home including perks like; central heat/air, vinyl wood floors, custom kitchen cabinetry, granite countertops, SS appliances (fridge/dishwasher/garbage disposal all new!), washer/dryer, two door coded storage closets, convenient half bath on first floor and a nicely updated full bathroom on second with tile showers and updated fixtures. You even have a pull down attic for even more storage, so rare! Walk outside and soak up the sun on your composite deck & furniture. There is also an exterior shed and storage for all your water toys under your deck. Make friends with your fellow boaters, cool off in the pool, kickback relax and enjoy the sunsets w/ your evening dinner or cocktails and come see how inviting this street/overall location really is!

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Condo Coming Soon

Price

$ 395,000

Bedrooms

2

Full Bath

1

Half Bath

1

Property Type

Condo

Taxes

$ 4,056

Style

Coastal

Year Built

1972

Town/City

Ocean City

County/Region

Worcester

MLS | Web ID

MDWO2040408

Features
General
Living Area 816
Sewer Public Sewer
Heating Central
Cooling Central A/C
Possession 31-60 Days CD
Zoning R-2
Association Fee Includes Common Area Maintenance Ext Bldg Maint Insurance Lawn Maintenance Management Pier/Dock Maintenance Reserve Funds Pool(s)
Architectural Style Coastal
Construction Materials Frame Vinyl Siding
School District WORCESTER COUNTY PUBLIC SCHOOLS
Exclusions Ring Cam Horse print Items in closets & drawers Storage shed items storage box & paddleboard.
Year Built 1972
Levels 2
Unit Number 50
Tax Year 2025
Ownership Condominium
Cool Fuel Electric
Municipality Ocean City
Building Name Bay Cove I
Accessibility 2+ Access Exits
HOA Fee 2 4400.00
County WORCESTER
New Construction N
Property Type Residential
Association Amenities Pool - Outdoor Pier/Dock
HOA N
Subdivision Name NONE AVAILABLE
Facing Direction South
Garage Y/N N
Water Access Y/N Y
Other Structures Above Grade Below Grade
Full Baths 1
Status COMING SOON
Directions GPS
City OCEAN CITY
Senior Community Y/N N
MLS Area Bayside Waterfront (84)
HOA Fee 2 Frequency Annually
Tax Annual Amount 4056.0
Structure Type Interior Row/Townhouse
Condo/Coop Association fee Y/N Y
Bathrooms Full Main Level 1
Bathrooms Count Main Level 2.00
Price Per Sq Ft Total AG 484.07
Vacation Rental Y/N N
Standard Status Coming Soon
Year Built Source Assessor
Tax Lot 50
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Interior
Heating Fuel Electric
Hot Water Electric
Basement (Y/N) N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 816
Half Baths 1
Central Air Y/N Y
Total Bedrooms 2
Below Grade Finished Area 0
Main Level Bedrooms 2
Below Grade Finished Area Unit Type Square Feet
Laundry Type Dryer In Unit Washer In Unit
Below Grade Finished Area Source Assessor
Above Grade Finished Area Source Assessor
Above Grade Finished Area Unit Type Square Feet
Total Baths 2
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Exterior
Pool Yes - Community
Parking Features Assigned
Water Source Public
Inclusions Fully Furnished and Equipped
Type of Parking Parking Lot
Foundation Details Crawl Space
Water View Y/N N
Lot Dimensions 0.00 x 0.00
Water Body Type Canal
Waterfront Y/N Y
Land Assessed Value 0.00
Navigable Water Y/N Y
Water Oriented Y/N Y
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Internal Only
Street Number 1 507
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* Excluded Features
List By
Berkshire Hathaway Homeservices Penfed Realty-Woc

Broker

katiesellsoc@gmail.com

Email

Affordability Calculator

$2,832
Per Month
88%
12%
0%
Monthly Principal & Interest
$2,494
Monthly Property Taxes
$338
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3534738 Elementary School
3535750 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
8/9/2026$395,000 Listed Price

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507 Penguin Drive # 50, Ocean City, MD, 21842 is a Condo for sale at $395,000 with 816 sqft. 507 Penguin Drive # 50 has 2 bedrooms, 1.1 baths, and was built in 1972. The property's zip code is 21842 which is in Ocean City, MD