12 BAY OAK DRIVE
About This Property
Sebastian Homes property combines quality craftsmanship, generous living space, and exceptional value just minutes from the Delaware beaches.
Built with quality 2x6 construction and a block-reinforced crawl space, this well-maintained home was designed for durability, energy efficiency, and long-term value. Set on a wooded perimeter lot with room for a pool, outdoor entertaining space, or future expansion, the property provides a private retreat while being just minutes from Lewes beaches, shopping, dining, and coastal attractions. One of the property's most attractive features is its exceptionally low cost of ownership. The savings are hard to ignore: no water bill, no sewer bill, lower-cost electric through Delaware Electric Cooperative, and HOA fees of only $276 per year. In a coastal market where expenses can add up quickly, this home stands apart.
Inside, the flexible floor plan offers 4 bedrooms plus a bonus room that can easily serve as a 5th, 3.5 bathrooms, and multiple living spaces designed for both everyday comfort and entertaining. The first-floor primary suite provides convenience and privacy, featuring a double sink vanity, walk-in shower, and soaking tub. The main level also includes a formal dining room, living room, den, and spacious eat-in kitchen with a center island
Upstairs, additional bedrooms, full bathrooms, and a second laundry area create an ideal setup for family, guests, or multi-generational living. The dual-zone HVAC system allows for heating and cooling of only the areas being used, adding to the home's overall energy efficiency. Outside, enjoy peaceful mornings and relaxing evenings from the wrap-around porch overlooking the wooded surroundings. The oversized 3-car garage provides ample space for vehicles, storage, hobbies, or workshop space.
Recent improvements include new dual-zone HVAC systems (2025), hot water heater (2023), encapsulated crawlspace with dehumidifier and sump pump, new well bladder tank, and approximately 20 years remaining on the 40-year architectural shingle roof.
Offering Amish craftsmanship, modern updates, abundant space, and a rare opportunity to enjoy privacy without sacrificing convenience, this exceptional Bay Oaks property delivers the perfect balance of quality, comfort, and value in one of the Lewes area's most desirable locations.
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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 |
|---|---|---|---|
| Sep 18, 2026 | Sold | ||
| Sold | |||
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Aug 4, 2026 | Relisted | $619,900 | |
| Relisted | |||
| Jul 7, 2026 | In contract | - | |
| In contract | |||
| May 11, 2026 | Price Decreased |
$619,900
↓ $30K
(4.6%) | |
| Price Decreased | |||
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About Sussex
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017