22240 REEVE ROAD
About This Property
Welcome to Plover Point, where the focal point of this home is the impressive outdoor living space, featuring a fenced backyard, a large patio, and a beautiful gazebo with seating-perfect for relaxing, entertaining, or enjoying the coastal lifestyle. The main level features an inviting open-concept design with spacious living and dining areas, beautiful luxury vinyl plank flooring throughout the main living spaces, and a well-appointed kitchen with granite countertops and stainless steel appliances. A main-level bedroom and full bath provide excellent flexibility for guests, a home office, or multigenerational living.
Modern design, spacious living, and thoughtful upgrades come together in this beautifully maintained five-bedroom, three-full-bath home built in 2024. Offering over 2,400 square feet of living space, this home is ideally situated less than a mile from the Indian River and just a short drive to Delaware's beautiful beaches. With valuable improvements already in place, this home offers the feel of new construction with the added benefit of extras ready to enjoy.
Upstairs, a generous loft-style landing offers versatile space for a second sitting area, reading nook, playroom, or study space. The spacious primary suite serves as a relaxing retreat, featuring recessed lighting, two large closets, and a private en suite bath. Three additional bedrooms and a full hall bath provide comfortable accommodations for family and guests. The conveniently located second-floor laundry area includes an upgraded washer and dryer, along with additional cabinetry for storage.
An oversized shed/workshop with electrical power provides exceptional space for hobbies, tools, beach gear, bicycles, and lawn equipment. Additional improvements include a large patio and shed pad, added sidewalk with convenient side-door access, dedicated trash-can storage, and built-in garage cabinetry. Residents of Plover Point enjoy community amenities including a swimming pool, firepit, picnic area, and playground, with trash service included.
Combining five bedrooms, three full baths, a flexible floor plan, valuable upgrades, and inviting outdoor spaces, this nearly new home offers the comfort and convenience of modern coastal living. Enjoy the proximity to the Indian River, easy access to Delaware's beaches, and the added benefit of community amenities-all in a home that is ready for you to move in and enjoy!
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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 |
|---|---|---|---|
| Oct 15, 2026 | Listed by Compass | $494,900 | |
| Listed by Compass | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017