ONE STORY BUNGALOW
ON 0.266± ACRE LOT
Suitable for Renovation or Redevelopment
2002 OWENS ROAD
Prince George’s County, MD 20745
NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.
2002 Owens Road is located about one mile southeast of the Maryland-DC line, west of St. Barnabas Road (MD-414), north of the Capitol Beltway (I-495/95) and east of MD-210. The surrounding area is residential in character, primarily consisting of subdivision housing. The auction property predates most of the surrounding neighborhoods, whose homes sell in the mid-$300,000s. Nearby public schools are Barnaby Manor Elementary, Benjamin Stoddert Middle and Potomac High, according to the Prince George’s County online school locator. Shopping and community services are nearby. The area is convenient to the Capitol Beltway, Washington, DC, National Harbor and employers throughout the region.
Lot fronts 67′ along Owens Road, with depths of 241.66′ and 182.68′ and a rear lot line of 79′, as per the location survey, comprising 0.266 acre of land.
Zoning RR, residential
Public water and sewer
Two-car asphalt driveway
Fenced rear yard
One Story Stucco and Block Bungalow, built in 1936, comprising 682 square feet of living area, according to public tax records.
Exterior – composition shingle roof, aluminum rainspouts, wood double-hung windows, covered entry porch
Mechanical – oil fired forced air heat, central air conditioning, electric water heater, propane gas for cooking, circuit breakers
The home needs updating, cosmetic repairs and could be expanded.
The property is in fee simple and sold free and clear of liens. Prince George’s County Deed Book REP 17301, Page 349.
Published annual real estate taxes are $2,272, based on a full value assessment of $140,833. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information: Assessment Appeal Process.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check or wire payment, will be required of the purchaser. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.