Motivated Sellers! BETTER THAN NEW! Skip the wait for new
construction and move right into this stunning Killarney Loft model
by K. Hovnanian Homes in the highly desirable community of Tower
Hill in Lewes. Ideally located east of Route 1, you'll enjoy quick
access to downtown Lewes, the beaches, shopping, and dining-without
the summer traffic headaches. Energy-efficient features make this
home even more appealing, including owned solar panels for lower
electric bills and a private irrigation well that significantly
reduces water costs while keeping the lawn beautifully maintained.
This thoughtfully designed home offers a bright, open floor plan
that's perfect for everyday living and entertaining. The spacious
great room features a cozy natural gas fireplace and flows
seamlessly into the gourmet kitchen, complete with upgraded
stainless steel appliances, natural gas cooking, quartz
countertops, a classic tile backsplash, a walk-in pantry, and an
oversized center island with breakfast seating. Throughout the
home, you'll find upgraded Mannington wide-plank laminate flooring,
elegant crown molding on the first floor, and integrated surround
sound in the great room, primary suite, and screened porch. The
luxurious first-floor primary suite includes a spa-inspired bath
and a custom California Closets walk-in closet. A private office
provides the perfect work-from-home space, while a second
first-floor bedroom offers comfort and privacy for guests.
Upstairs, a spacious loft creates the ideal second living area,
accompanied by a third bedroom and full bath. Outdoor living is
just as impressive, with both a screened porch and rear deck
overlooking the backyard. Additional highlights include a full
unfinished basement with rough-in plumbing for future expansion and
a three-car garage featuring finished walls and durable epoxy
flooring. Tower Hill offers exceptional resort-style amenities,
including a clubhouse, swimming pool, fitness center, pickleball
and tennis courts, plus direct access to the scenic
Lewes-Georgetown Trail. With downtown Lewes and Delaware's
award-winning beaches just minutes away, this is coastal living at
its best. Skip the wait of building new and start living your beach
life east of Route 1! Call Today!
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.
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