172 TEAL DRIVE
About This Property
Welcome to this stunning, custom-built single-level home located in the highly sought-after waterfront community of Creeks End in the Long Neck area of Millsboro. Offering a perfect blend of luxury, function, and tranquility, this meticulously maintained 4-bedroom, 3-bathroom home is nestled on a beautifully landscaped private lot that truly feels like a personal retreat.
From the moment you arrive, you'll notice the care and thoughtful upgrades that set this home apart. The expanded driveway accommodates up to 10 vehicles, ideal for entertaining or extra storage.
Step inside to find a spacious open floor plan with hardwood and tile flooring throughout, accented by plantation shutters and fresh, neutral paint. The home offers abundant storage, including a newly added oversized closet in the back hallway, perfect for organization and convenience.
A standout feature is the separately accessed studio suite above the garage. This versatile space adds 340 finished square feet, including a kitchenette with butcher block counters and stylish accents, a full tile shower bathroom, and a private entry-ideal for guests, a home office, or a rental opportunity.
The heart of this home is its breathtaking backyard oasis: a heated fiberglass saltwater pool with a waterfall, surrounded by professional landscaping and a cozy fire pit area-perfect for relaxing or entertaining in all seasons.
Creeks End is one of Millsboro's premier golf cart-friendly water-access communities, offering low HOA fees of just $300/year. Residents enjoy access to Guinea Creek, a tributary of Rehoboth Bay, with 32 boat slips available at a low annual rate of $890. Please note: there is an approximate 2-year waitlist for slips and availability is not guaranteed, however you can store a boat in your driveway.
This home is ideally situated just minutes from local favorites like Paradise Grille, Paradise Pub, and Baywood Greens Golf Course. You'll also enjoy close proximity to shopping and dining options, including the Tanger Outlets in Rehoboth, and the charming boutiques and eateries of Rehoboth and Lewes. From this quiet, scenic neighborhood, you're just 13 miles by land-or boat!-to Rehoboth Beach and Lewes, making this location both peaceful and incredibly convenient. With a new HVAC system, high-end finishes, and countless thoughtful upgrades, this home is move-in ready and truly one of a kind.
Don't miss the opportunity to make this coastal gem your own-schedule your private tour today!
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017