16 BAY REACH
About This Property
Offering approximately 3,340 square feet, this five-bedroom, three-and-a-half-bath residence was designed equally well for everyday living and effortless entertaining. Two en-suite bedrooms are located on the main level, including the primary suite, creating flexibility for owners and guests alike, while three additional bedrooms upstairs provide generous accommodations for family and visitors.
At the heart of the home, the custom kitchen pairs quartz countertops and a mosaic backsplash with Wolf and Starmark cabinetry, an oversized island with built-in microwave and abundant storage, a wine cooler and dedicated ice maker. The adjoining two-story living room makes an immediate impression with soaring ceilings, expansive windows, a gas fireplace and custom illuminated built-ins finished with coordinating Wolf cabinetry and quartz surfaces.
Thoughtful details continue throughout, including custom Hunter Douglas window treatments, California Closets in the primary suite, integrated audio in the kitchen, living room, screened porch and primary bath, recessed and custom lighting, and ceiling fans in every bedroom.
Outdoor living is an integral part of the experience. A spacious screened porch functions as an additional living and dining space and opens to a rear patio surrounded by established landscaping, supported by a 10-zone irrigation system. An outdoor shower and oversized two-car garage complete the property.
Pine Bay itself is one of the home's greatest assets: a secluded residential setting characterized by mature trees and distinctive homes, with a community pool, pool house, updated pool decking and pavilion. From here, bike or walk to the beach and enjoy easy access to the dining, arts, shopping and coastal lifestyle of Rehoboth Beach, with Dewey Beach and Lewes equally convenient.
Whether envisioned as a sophisticated beach retreat or a full-time residence, 16 Bay Reach offers the rare opportunity to enjoy space, privacy and an established neighborhood setting without sacrificing proximity to everything that makes the Delaware coast so desirable.
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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.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017