$1,699,000
●
House -
Off Market
2303 CEDAR ST
LEWES, DE 19958
6 Beds
4 Baths
3,200 Ft²
$8,343
Est. Monthly
About This Property
This charming 6-bedroom, 4-bath single-family home, just one block
from Lewes Beach and the Delaware Bay, offers incredible marsh
views and an incredible investment opportunity with $140-170K
in annual rental income. This property is comes with custom fully
furnished furniture and is boasting modern upgrades, including a
two-zone HVAC system, Rinnai tankless water heater, updated kitchen
appliances, and remodeled bathrooms, this property blends comfort
with functionality. Enjoy wood floors throughout the home with two
fully functioning living rooms, a full dining room, stone
countertops, a hot tub, and an outfitted garage with games, bikes,
beach chairs, as well as a beautiful elevated back deck offering
stunning marsh views. With 10 weeks already booked for 2025, this
home is a prime coastal gem perfect as a second home or an
income-generating asset.
Unit Size
3,200 Ft²
Days on Market
29 days
Land Size
0.16 acres
Price per sqft
$531
Property Type
House
Property Taxes
$168
HOA Dues
-
Year Built
1954
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 2 years ago (Bright MLS #DESU2072284)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 21, 2024 | Sold | ||
| Sold | |||
| Oct 23, 2024 | In contract | - | |
| In contract | |||
| Oct 11, 2024 | Listed by Monument Sotheby's International Realty | $1,699,000 | |
| Listed by Monument Sotheby's International Realty | |||
| Dec 6, 2021 | No longer available | - | |
| No longer available | |||
| Nov 20, 2021 | Price Decreased |
$1,150,000
↓ $200K
(14.8%) | |
| Price Decreased | |||
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Property Highlights
Garage
Air Conditioning
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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ft²
Price/ft²
Price/ft²
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Sold On
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HOA + Taxes
About Lewes
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Listed by: Andrew Staton
Monument Sotheby's International Realty
Last Updated: 9 hours ago
Data Source: Bright MLS , MLS# DESU2072284
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Monument Sotheby's International Realty
Last Updated: 9 hours ago
Data Source: Bright MLS , MLS# DESU2072284
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