$ 1,090,000
-
$1,090,000
Price -
5
Bed -
4
Bath -
4,719
SqFt
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About the Listing 107SRG - 3256091
**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 $1,499,000 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.
Listing Highlights
Status
Active
Days on Site
22
Property Type
Residential
MLS ®
MDWO2036512
Year Built
1977
Total Square Footage
4,719
Lot/Acreage
0.3
County
Worcester
Building Name
NONE AVAILABLE
Neighborhood
Mallard Island
School District
Worcester County Public Schools
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Heat Pump(s)
- Fireplaces: 2, Wood,2 Fireplaces
- Floor:
- Above Ground Sq Ft: 4719
- Below Ground Sq Ft: n/a
- Basement:
- Other: No Pet Restrictions,Pets Allowed,Main Floor Bedrooms: 5
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: 2 car
- Parking Spaces: 6
- Zoning: R-1
- Roof: Architectural Shingle
- Others: BBQ Grill,Exterior Lighting
- Sewer: Public Sewer
- Parking Features: Concrete Driveway,Additional Storage Area,Garage Door Opener,Attached Garage,Driveway,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $9,813
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
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Questions About..
1533 Teal Dr Ocean City, MD 21842
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