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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Investment properties
12355 Pne Rst Dr Ocean City, MD 21842-9201
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-1980088
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Total area
1,832 SF
Lot
2.01 ac (87,556 SF)
Zoning code
R-2
APN
10-302633
UPID
US40-1980088
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$838k
Blend (final)
Blend
$1.21M
Owner & transaction history
Waterfront Cottages LLC · 2 yrs held
Waterfront Cottages LLC
since 2023
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
R-2 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ocean City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,220,000
ML approach
$1,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±10% · vs last sale $1.20M (Dec 28 2023)
Last sale anchor
$1.20M
Dec 28 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$658 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,413
Tax year 2023
Assessed value
$719,800
Assessed 2024
Previous assessed
$719,800
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$502,500
Assessed improvement
$217,300
Land market value
$502,500
Improvement market value
$217,300
Total market value
$719,800
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Heating
HEAT PUMP
Cooling
YES
Stories
1
Units
7
Bathrooms
2
Total area
1,832 SF
Lot
2.01 ac (87,556 SF)
Zoning code
R-2
APN
10-302633
UPID
US40-1980088
Jurisdiction
WORCESTER
Zoning & alternative use
R-2 · Ocean City, MD
Zoning R-2 · permitted uses
R-2 · Ocean City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ocean City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
7
Bathrooms
2
Lot
2.01 ac
Current owner
From public records · entity-resolved
Waterfront Cottages LLC
Entity
Mailing address
2263 STATE RD, OXFORD, PA 19363-2200
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2023
$1,200,000
Waterfront Cottages LLC
William J Meredith
Deed
$976,000 · Presence Bank
Oct 25, 2016
—
William J Meredith
Meredith Paul A
Quit Claim Deed
related
—
—
—
Paul A Meredith
—
Deed Of Trust
related
$300,000 · First Horizon Home Loan Corp
—
—
Paul A Meredith
—
Deed Of Trust
related
$938,250 · Generation Mortgage Co
—
—
Paul A Meredith
—
Deed Of Trust
related
$1 · Hud
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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