501 Bay View Dr, Lusby, MD 20657Deal Snapshot
- Ask: $259,000
- Buy Now: $265,000
- ARV: $400,000
- Beds/Baths: 4 beds / 1 bath
- SQFT: 2,240 total
- Above Grade: 1,120 sqft
- Below Grade: 1,120 sqft
- Lot Size: 22,390 sqft / 0.5140 acres
- Year Built: 1989
- Style: Rancher / 1 story with basement
- Key Features: Water access community, access to creek for kayak/canoe use, tall-ceiling basement, one finished lower-level room, large lot, waterfront-area setting
- Taxable Assessment: $248,200
- Annual Taxes: $2,934
- Subdivision: Drum Point
- County: Calvert, MD
- Water/Sewer: Well and septic
- HOA: $253 annually
Why This Deal Works
- Half-acre setup in Drum Point with water-access appeal
- Rancher footprint with 2,240 total sqft
- Unfinished basement has tall ceilings and real usable volume
- Roof, HVAC, and water heater are already updated
- 4-bedroom layout gives this one a broader resale pool
- Smaller homes in the area are reaching the high-$300Ks
- Water access and creek-to-waterway angle help the retail story
Property Overview
501 Bay View Dr is a rancher with basement on just over half an acre in Drum Point. The main level carries a 3/1 setup, with the lower level adding another bedroom and a mostly unfinished basement with one finished room already in place.The house sits in a strong lifestyle location with beach, boat ramp, lake, and water privileges in the community. The layout is simple, the lot is a real plus, and the basement height gives added flexibility on the back end.
ConditionInterior
- Dated throughout
- Kitchen needs full update
- Bath needs update
- Flooring and finishes need refresh throughout
- Main footprint is straightforward and easy to read
Systems
- Roof is new
- HVAC is new
- Water heater is new
- Well and septic in place
Exterior
- Larger lot adds value
- Rancher profile works well for the area
- Water-access setting is a plus
- Outdoor appeal is tied to the lot size and community amenities
Detailed Scope By Room / AreaLiving Areas
- Straightforward main-level layout
- Standard cosmetic update path
- Good usable square footage for the footprint
Kitchen
- Full update needed
- Clear upside in finish level and presentation
Bathroom
- Functional 1-bath setup
- Update needed
Bedrooms
- 4-bedroom count is a plus
- Main level carries 3 bedrooms
- Lower level adds additional finished room
Basement
- Mostly unfinished
- Tall ceilings help the space read better than a typical lower level
- One finished room already in place
- Adds real utility and value-add potential
Exterior / Site
- 0.514-acre lot is a strong feature
- Community water access supports the lifestyle angle
- Creek access for kayak/canoe use adds to the story
- Well-sized outdoor footprint for the price point
Exit Strategy
- Flip: Best fit
- Wholetail: Not the main angle
- Buy and Hold: Possible, with the lot and community setting helping long-term appeal
ARV Positioning – $400k
Support includes 1187 Golden West Way at $369K despite being roughly 700 sqft smaller, plus 12846 Laurel Way at $390K and 34 Longhorn Cir at $399K. With the size, lot, basement utility, and water-access angle, this one supports a $400K retail.Terms / Next Steps
- Access by appointment
- EMD required
- Sold as-is
Post-Occupancy Required:
- Seller needs up to 7 days post-closing possession. $30,000 holdback in escrow from sellers proceeds at settlement.
- Any stay beyond day 7 is charged at $350/day until vacant