$725,000
●
Land -
For Sale
144 PADDOCK WAY #LOT33
LEWES, DE 19958
Studio
0 Bath
$3,855
Est. Monthly
$261
HOA / Fees
About This Property
Excellent opportunity in Lewes' latest custom home community known
as Olde Town! This community features 85 homesites with no builder
tie-in, all situated within one mile of Lewes Beach, Cape Henlopen
State Park, and all the downtown restaurants and shopping
attractions. 144 Paddock Way (Lot 33) is located adjacent to
community open space and buffer adjacent to Showfield, and only a
short walk to the community pool and pool house. The additional
amenities include sidewalks, walking trails, and direct access to
the 16-mile Junction & Breakwater Trail that spans from Lewes to
Rehoboth Beach. Olde Town is sold out and this is a resale
opportunity.
Unit Size
-
Days on Market
-
Land Size
0.23 acres
Price per sqft
-
Property Type
Land
Property Taxes
$34
HOA Dues
$261
Year Built
-
Listed By
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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: 4 months ago (Bright MLS #DESU2114094)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 19, 2026 | Listed by Jack Lingo - Rehoboth | $725,000 | |
| Listed by Jack Lingo - Rehoboth | |||
| Mar 26, 2024 | Sold | ||
| Sold | |||
| Dec 16, 2023 | In contract | - | |
| In contract | |||
| Oct 2, 2023 | Listed by Jack Lingo - Lewes | $509,900 | |
| Listed by Jack Lingo - Lewes | |||
| | |||
|
Welcome to Lewes’ latest custom home community known as Olde Town! This community will feature 85 homesites with no builder tie-in, all situated within one mile of Lewes Beach, Cape Henlopen State Park, and all the downtown restaurants and shopping attractions. The amenities include a pool, pool house, sidewalks, walking trails and direct access to the 16-mile Junction & Breakwater Trail that spans from Lewes to Rehoboth Beach. Many of the lots will feature a wooded backdrop, pond views and some will have expansive views of White’s Pond. Olde Town is the most exciting opportunity at the Delaware beaches!
| |||
Property Highlights
Exterior Details
Lot Features: Adjoins - Open Space
Lot Size Area: 10125
Lot Size Units: Square Feet
Lot Size Acres: 0.23
Lot Size Square Feet: 10125
Lot Size Dimensions: 75 x 135.00
Tax Lot: 33
Water Source: Public Hook-up Available
Financial Details
Tax Annual Amount: $409
Utilities Details
Sewer : Public Hook/Up Avail
Location Details
HOA/Condo/Coop Fee Includes: Maintenance Grounds, Snow Removal, Management, Pool(s)
HOA/Condo/Coop Amenities: Bike Trail, Common Grounds, Jog/Walk Path, Pool - Outdoor
HOA Fee: $3,130
HOA Fee Frequency: Annually
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
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Closing Price
Sold On
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HOA + Taxes
About Lewes
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Listed by: SHAUN TULL
Jack Lingo - Rehoboth
Last Updated: 11 hours ago
Data Source: Bright MLS , MLS# DESU2114094
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Jack Lingo - Rehoboth
Last Updated: 11 hours ago
Data Source: Bright MLS , MLS# DESU2114094
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