18787 MELVILLE WAY
About This Property
Welcome to an exceptional opportunity to own a pristine, like-new Vandalay model by Insight Homes, one of the region's premier energy-efficient builders. Thoughtfully designed for both luxury and sustainability, this beautifully appointed residence delivers the perfect blend of elegant coastal living and lower monthly utility costs through Insight's advanced energy-saving construction methods.
Perfectly situated on a premium homesite with tranquil pond views, this home offers an idyllic setting where peaceful mornings and spectacular sunsets become part of your daily routine. From the moment you arrive, the expansive front porch-with its ceiling fan, dimmer-controlled lighting, and inviting curb appeal-sets the tone for the sophisticated lifestyle that awaits within.
Designed with both comfort and entertaining in mind, the home has been enhanced with numerous upgrades, including a sought-after 4-foot rear extension that creates an even more spacious and open living environment. The light-filled morning room provides the perfect place to enjoy coffee while overlooking the water, while the luxurious Super Bath creates a private retreat reminiscent of a boutique spa.
Additional enhancements include front and rear irrigation to maintain the beautifully landscaped grounds, a whole-house water softening system, and a premium Slide-Lok garage flooring system that adds both style and functionality. The rear patio offers the ideal setting for outdoor dining, entertaining, or simply relaxing while enjoying the serene pond backdrop.
Located within the highly desirable Hawthorne community, residents enjoy a picturesque setting surrounded by mature trees and natural beauty. Community amenities include a beautifully appointed clubhouse, resort-style swimming pool, and an active yet peaceful atmosphere that perfectly complements the coastal lifestyle.
Best of all, this remarkable home is located just 12 miles from historic downtown Lewes, where award-winning restaurants, boutique shopping, marinas, and Delaware's beautiful beaches await.
Offering luxury finishes, energy efficiency, and an unbeatable location, this exceptional Vandalay model presents a rare opportunity to enjoy the very best of Coastal Delaware living.
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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%.
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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.
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 30, 2026 | Price Decreased |
$480,000
↓ $10K
(2%) | |
| Price Decreased | |||
| Aug 13, 2026 | Price Decreased |
$490,000
↓ $9K
(1.8%) | |
| Price Decreased | |||
| Jun 22, 2026 | Listed by Monument Sotheby's International Realty | $499,000 | |
| Listed by Monument Sotheby's International Realty | |||
| Jul 22, 2021 | No longer available | - | |
| No longer available | |||
| Jun 2, 2021 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017