$972,000
●
House -
Off Market
118 MADISON AVENUE
LEWES, DE 19958
3 Beds
2 Baths
1,950 Ft²
$5,055
Est. Monthly
2.55%
Cap Rate
About This Property
TIMELESS BEAUTY meets modern living in downtown Lewes! Originally
built in 1900 and renovated with a new kitchen, sunroom , & primary
suite bathroom, this classic Victorian offers the perfect blend of
historic character and contemporary comfort. Step inside to
discover hardwood and tile flooring throughout, a cozy living room
featuring built-ins and an electric fireplace, a formal dining
room, and a sunlit eat-in kitchen with an adjacent sunroom.
The rare first-floor owner's suite boasts exposed beams, an en suite bath, and direct access to the beautifully landscaped grounds. Upstairs, you'll find two spacious bedrooms plus a home office, along with a fully floored third-floor attic for extensive storage.
Outdoor living shines with a front screened porch, a private, fenced-in hardscaped courtyard, a detached storage shed, and a classic coastal outdoor shower. Enjoy an unbeatable location within walking or biking distance to 2nd Street dining, the Historic Lewes Farmers Market, and the beach. Ideal as a year-round residence, weekend getaway, or lucrative vacation rental!
The rare first-floor owner's suite boasts exposed beams, an en suite bath, and direct access to the beautifully landscaped grounds. Upstairs, you'll find two spacious bedrooms plus a home office, along with a fully floored third-floor attic for extensive storage.
Outdoor living shines with a front screened porch, a private, fenced-in hardscaped courtyard, a detached storage shed, and a classic coastal outdoor shower. Enjoy an unbeatable location within walking or biking distance to 2nd Street dining, the Historic Lewes Farmers Market, and the beach. Ideal as a year-round residence, weekend getaway, or lucrative vacation rental!
Unit Size
1,950 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$510
Property Type
House
Property Taxes
$169
HOA Dues
-
Year Built
1934
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 3 days ago (Bright MLS #DESU2116758)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 9, 2026 | Sold | ||
| Sold | |||
| Aug 8, 2026 | In contract | - | |
| In contract | |||
| Jul 31, 2026 | Listed by Berkshire Hathaway HomeServices PenFed Realty | $995,000 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty | |||
| Sep 11, 2023 | Listed by Berkshire Hathaway HomeServices PenFed Realty | $849,900 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty | |||
| Sep 11, 2023 | Sold | ||
| Sold | |||
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Property Highlights
Air Conditioning
Fireplace
Parking Available
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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Baths
ft²
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About Lewes
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Listed by: Lee Ann Wilkinson
Berkshire Hathaway HomeServices PenFed Realty
Last Updated: 2 hours ago
Data Source: Bright MLS , MLS# DESU2116758
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Berkshire Hathaway HomeServices PenFed Realty
Last Updated: 2 hours ago
Data Source: Bright MLS , MLS# DESU2116758
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