$1,140,000
$1,300,000
12.3%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
2 Baths
5,227 Sqft Lot
SOLD DATE : 08/17/2023
Key Details
Sold Price $1,140,000
Property Type Single Family Home
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Subdivision Rehoboth By The Sea
MLS Listing ID DESU2043278
Sold Date 08/17/23
Style Coastal
Bedrooms 3
Full Baths 1
Half Baths 1
HOA Y/N N
Originating Board BRIGHT
Land Lease Amount 5219.0
Land Lease Frequency Annually
Year Built 1970
Annual Tax Amount $580
Tax Year 2022
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 0.00 x 0.00
Property Description
Dewey Beach! Location, location, location! Located in the highly sought after community of Rehoboth By The Sea, this home is located only 11 homes from the Atlantic Ocean. This is a Rehoboth By The Sea leased land property. The very rare re negotiated lease has 26 years remaining and is only $5,219 PER YEAR. Minute lease increases are every five years and are based off of the CPI index thus making the increase very, very affordable.. The present home boasts the pine board walls (very good condition) and hardwood and tile throughout. Recently negotiated leases are typically 3X the annual rent and include a 3.5% annual increase. Renovate this charming little home like many owners have done to their adorable cottages from yesteryear or make plans to built the home of your dreams. Due to the location and the affordable lease from yesteryear this property won't last long. Please call for a private tour, you'll be glad that you did!!
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning TOWN
Rooms
Other Rooms Bedroom 2, Bedroom 3, Kitchen, Family Room, Bedroom 1, Sun/Florida Room, Laundry, Bathroom 1, Half Bath
Main Level Bedrooms 3
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Hardwood, Tile/Brick, Vinyl
Fireplaces Number 1
Fireplaces Type Wood
Furnishings Yes
Fireplace Y
Heat Source Propane - Leased
Laundry Washer In Unit, Dryer In Unit
Exterior
Water Access Y
Roof Type Asphalt
Accessibility 2+ Access Exits, Level Entry - Main
Garage N
Building
Story 1
Foundation Crawl Space
Sewer Public Sewer
Water Public
Architectural Style Coastal
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
High Schools Cape Henlopen
School District Cape Henlopen
Others
Pets Allowed Y
Senior Community No
Tax ID 334-20.10-88.00-A
Ownership Land Lease
SqFt Source Assessor
Special Listing Condition Standard
Pets Allowed No Pet Restrictions
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with John E Redefer IV • Rehoboth Bay Realty, Co.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "