Severn House Condo in Eastport, Annapolis

Market Study

The Severn House condominium in the Eastport neighborhood of Annapolis offers waterfront living at an affordable price point. The units here range from a 2 bedroom, 1 bathroom apartment style unit with under 1,000 square feet of space listed for $269,900, up to the pinnacle home which is currently for sale priced at $1,075,000, a three-bedroom, three-bathroom end unit tri-level townhouse on a peninsula of Back Creek.

The buildings were constructed in the 1960s and ’70s, so the exterior style reflects that, but in a town where many homes were built in colonial days, these buildings are fairly current. Individual owners have renovated their units to varying degrees, of course.

The association fees, based on the size of the unit, are reasonable considering the size of the property and the inclusions. There are a pool and pavilion overlooking the waterfront, a boat launch, canoe and kayak storage, play space, groomed walking paths, and a marina area. Also included are cable, water, and natural gas heating.

Recent Activity

In the past six months, four units have sold, from $230,000 up to $512, 000. All of these units were in the standard apartment-style buildings. One unit out of the five currently under contract is an interior three-story townhouse unit with a garage. It’s listed for $675,000, so it’s closing will set a new baseline for the ten townhouse units. The townhouses are quite a significant upgrade from the standard units. They sit on the point overlooking the river and all have prime water views. Several have garages, while the standard units have surface lot parking, and they offer more privacy, patio and balcony spaces, and interior square footage.

Bright MLS Data as of 7/27/20

Comparing Notes

When looking at properties in Severn House, you’ll want to note the following significant differences that will influence the unit’s value.

• Townhouse or Garden Style Apartment

• In-Unit Laundry or Community Laundry

• Deeded Boat Slip Included or Not

• No Pets Allowed

• Renovated or Original Condition