CHARIS REALTY GROUP

Coastal

1533 TEAL DRIVE

OCEAN CITY , MD 21842

MLS#: MDWO2036512

$1,090,000

Status: Active
Listing number: MDWO2036512
Listing provided by: ERA Martin Associates, Shamrock Division
Listing agent phone: None
Last update: an hour ago
New on site 1 day ago
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MALLARD ISLAND - Residential

Property

Beds

5

Full Baths

4

1/2 Baths

None

Year Built

1977

Sq.Footage

4,719

**Currently grossing over $150,000 annually in short-term rental income ** with the potential for more! This exceptional Ocean City property offers a rare opportunity to own a luxury coastal home with strong, established investment performance. Situated on Mallard Island, one of Ocean City’s most coveted and tightly held waterfront-style communities, this exceptional residence blends luxury coastal living with long-term investment appeal. Set on two lots, the property provides valuable future flexibility. The additional lot—currently home to the private pool—may offer the potential for subdivision or use as a separate building lot, subject to buyer verification with P&Z. This feature is seldom found in Ocean City and enhances both privacy today and long-term value. *Both lots are being sold together at a total price of $1,499,900 and not available separately* Inside, the home has been thoughtfully updated and beautifully maintained. Recent improvements include new dual-zone HVAC systems, two new sliding glass doors, and a new stainless steel refrigerator and range. Offered fully furnished and decorated, the home is truly move-in or rent-ready from day one. The flexible floor plan includes an in-law suite with full kitchen and separate entrance, offering additional options for guest accommodations, multi-generational living, or added rental income potential. Designed for comfort and entertaining, the spacious layout features multiple living areas, including a huge master suite currently used as a game room and wet bar, and two wood-burning fireplaces. The additional lot offers outdoor living at its finest, with a fenced backyard centered around the pool, an outdoor wet bar with granite countertops, and a fire pit—perfect for hosting family, friends, or guests enjoying a week at the beach. A rear shed provides convenient storage for pool and outdoor items. Storage and functionality are equally impressive with a two-car garage plus an additional garage bay, ideal for bikes, beach gear, and coastal essentials. Whether you envision this as a high-performing investment, a luxury second home, or a primary residence with income potential, this Mallard Island property delivers proven performance, flexibility, and lasting value in one of Ocean City’s most desirable locations.

Features & Amenities

Interior

  • Total Bedrooms

    5

  • Bathrooms

    4

  • Above Grade Finished Area

    4719.0

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Other, Electric

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Electric, Oil, Heat Pump

  • Main Level Bedrooms

    5

  • Pet friendly

    Yes

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Other, Brick

  • Other Exterior Features

    Barbecue, Lighting

  • Parking

    Garage Door Opener, Concrete, Garage, Driveway, Attached

  • Pool

    Yes

  • Pool Features

    In Ground, Private

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.3

  • Property Type

    Residential

  • Property Sub Type

    Single Family Residence

  • Architectural Style

    Coastal

Price

  • Sales Price

    $1,090,000

  • Tax Amount

    $9,813

  • Sq. Footage

    4, 719

  • Price/SqFt

    $230

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Foundation Details

    Block

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    58

  • Water Source

    Public

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Location

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Listing Courtesy of Brittani Phillips , ERA Martin Associates, Shamrock Division

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Agent Randy Perrell

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Randy Perrell

Call Randy today to schedule a private showing.

(301) 305-5383

randy@wolfeteam.net


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**Currently grossing over $150,000 annually in short-term rental income ** with the potential for more! This exceptional Ocean City property offers a rare opportunity to own a luxury coastal home with strong, established investment performance. Situated on Mallard Island, one of Ocean City’s most coveted and tightly held waterfront-style communities, this exceptional residence blends luxury coastal living with long-term investment appeal. Set on two lots, the property provides valuable future flexibility. The additional lot—currently home to the private pool—may offer the potential for subdivision or use as a separate building lot, subject to buyer verification with P&Z. This feature is seldom found in Ocean City and enhances both privacy today and long-term value. *Both lots are being sold together at a total price of $1,499,900 and not available separately* Inside, the home has been thoughtfully updated and beautifully maintained. Recent improvements include new dual-zone HVAC systems, two new sliding glass doors, and a new stainless steel refrigerator and range. Offered fully furnished and decorated, the home is truly move-in or rent-ready from day one. The flexible floor plan includes an in-law suite with full kitchen and separate entrance, offering additional options for guest accommodations, multi-generational living, or added rental income potential. Designed for comfort and entertaining, the spacious layout features multiple living areas, including a huge master suite currently used as a game room and wet bar, and two wood-burning fireplaces. The additional lot offers outdoor living at its finest, with a fenced backyard centered around the pool, an outdoor wet bar with granite countertops, and a fire pit—perfect for hosting family, friends, or guests enjoying a week at the beach. A rear shed provides convenient storage for pool and outdoor items. Storage and functionality are equally impressive with a two-car garage plus an additional garage bay, ideal for bikes, beach gear, and coastal essentials. Whether you envision this as a high-performing investment, a luxury second home, or a primary residence with income potential, this Mallard Island property delivers proven performance, flexibility, and lasting value in one of Ocean City’s most desirable locations.

1533 TEAL DRIVE

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