102 MALLARD DRIVE
About This Property
This beautifully kept 5-bedroom, 3.5-bath Colonial retreat, perfectly situated on a lush 0.35-acre corner lot in the sought-after Covey Creek, is ready to be made yours. Offering a highly desirable East of Rt. 1 location within the Cape Henlopen School District, this home features a thoughtfully designed layout perfect for modern coastal living.
The main level serves as the heart of the home, highlighted by a sophisticated living room with rich Brazilian cherry hardwood floors, custom built-ins, and a cozy gas fireplace. Culinary enthusiasts will appreciate the updated country kitchen, which boasts granite countertops, a functional center island, stainless steel appliances, and a bright breakfast nook. For ultimate convenience, the first floor also hosts a primary suite complete with a walk-in closet and an en-suite bath featuring a walk-in shower.
The second level provides ample space for family and guests with 4 additional bedrooms, all featuring beautiful hardwood flooring and ceiling fans, as well as 2 full baths.
Your living space extends outdoors to a peaceful enclosed screened porch, perfect for enjoying bug-free summer evenings, and an extensive rear paver patio designed for alfresco dining.
The beautifully landscaped exterior includes a fenced rear yard for privacy, a 2-car attached garage, and a refreshing outside shower for rinsing off after a day at the beach. This property provides a rare opportunity to secure a true Covey Creek gem with a low annual HOA fee-all just minutes from downtown Lewes and Cape Henlopen State Park.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 7, 2026 | Sold | ||
| Sold | |||
| Jul 4, 2026 | In contract | - | |
| In contract | |||
| Jul 1, 2026 | Price Decreased |
$679,900
↓ $40K
(5.6%) | |
| Price Decreased | |||
| May 8, 2026 | Listed by Berkshire Hathaway HomeServices PenFed Realty | $719,900 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017