25 WEST SIDE DRIVE
About This Property
Tucked along the tranquil canal with views of mature trees and the distant fairways of Kings Creek Golf Club, this charming .27-acre property offers a rare chance to create your dream waterfront retreat. Enjoy colorful sunsets from your backyard, relax in the peaceful outdoor spaces, or cruise home from a day on the Rehoboth Bay-all just moments away. Lovingly cared for by one family for many years, this classic ranch-style home is full of warmth and potential. While many buyers will see the value in the land alone, others may be inspired to reimagine the existing home into a cozy, updated haven or start fresh with a brand-new design tailored to their lifestyle. Whether you're dreaming of a serene getaway or envisioning a custom coastal masterpiece, Mermaid Manor is your canvas. The HVAC system is newer, and the property has been maintained with pride, but the seller understands that future owners may want to bring their own vision to life here. A special offering in one of Rehoboth's most desirable waterfront locations-come see the possibilities.
All information provided is believed to be accurate but should be verified by the buyer.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 27, 2025 | Sold | ||
| Sold | |||
| May 20, 2025 | In contract | - | |
| In contract | |||
| May 15, 2025 | Listed by Monument Sotheby's International Realty | $1,475,000 | |
| Listed by Monument Sotheby's International Realty | |||
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About Sussex
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017