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115 JERSEY STREET
About This Property
A quintessential North Dewey beach cottage, this charming 3-bedroom, 2-bath home blends nostalgic beach character with thoughtful updates designed for today's coastal lifestyle. The property has undergone numerous renovations over the years, highlighted by a spacious updated kitchen that serves as the heart of the home-perfect for gathering after a day at the beach.
Inside, the home offers an inviting and airy layout with comfortable gathering spaces ideal for relaxed entertaining. Outdoor living takes center stage with an expansive rear deck overlooking a generously sized backyard with ample room for a pool, creating exceptional potential for enhancing both lifestyle, rental revenue and long-term value. Lush landscaping and multiple outdoor entertainment areas provide the perfect backdrop for summer evenings, morning coffee, or casual gatherings with friends and family.
Located within the desirable Rehoboth by the Sea, the property is situated on leased land with approximately 48 years remaining on the current land lease-offering an opportunity to enjoy beach living in one of coastal Delaware's most coveted communities at a more approachable price point than nearby fee simple properties.
The property has also proven itself as a strong income-producing investment, with over $68,000 in booked rental reservations for the 2026 season already on the calendar, highlighting both its desirability and exceptional rental potential.
Ideally positioned just steps from the beach and Dewey Beach's vibrant dining, nightlife, and coastal attractions, enjoy easy access to local favorites like The Starboard, Bottle & Cork, and Woody's Dewey Beach for their famous crab cakes. Downtown Rehoboth Beach, with its boutique shopping and acclaimed dining destinations including Back Porch Cafe, Fable, and Henlopen City Oyster House, is just a mile away. Park the car, hop on a bike, or catch the Jolly Trolley and enjoy the very best of coastal living.
Whether enjoyed as a nostalgic personal getaway, rock solid rental investment, or long-term beach retreat, 115 Jersey Street offers a rare opportunity to own a piece of classic Dewey Beach charm in an exceptional location.
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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%.
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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 |
|---|---|---|---|
| Jul 29, 2026 | Sold | ||
| Sold | |||
| Jun 21, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Listed by Monument Sotheby's International Realty | $1,795,000 | |
| Listed by Monument Sotheby's International Realty | |||
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About Dewey Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017