28731 VALLEY VIEW LANE
About This Property
Don't let this one fool you-there's so much more than meets the eye in this spacious 5-bedroom home in the sought-after Ridings at Rehoboth! Thoughtfully updated with new windows and HVAC and numerous additional improvements, this home offers exceptional space, comfort, and value.
The inviting open floor plan features soaring two-story ceilings in the living room, filling the home with natural light. Luxury vinyl plank flooring flows throughout the main living areas, while the beautifully appointed kitchen showcases granite countertops, a breakfast bar, and seamless access to the dining area, breakfast nook, and sunroom-perfect for everyday living and entertaining.
The main level includes the spacious primary suite with a walk-in closet and private en suite bath, along with two additional bedrooms. Upstairs, you'll find a versatile loft and two more generously sized bedrooms, providing plenty of room for family, guests, or a home office.
Need even more space? The expansive unfinished basement offers endless possibilities for storage, hobbies, a workshop, or future finished living space.
Outside, enjoy one of the home's standout features-a large backyard with an irrigation system and private patio, creating the perfect setting for outdoor entertaining, gardening, or simply relaxing.
Located in the amenity-rich Ridings at Rehoboth, residents enjoy a clubhouse, fitness center, and community pool, all just minutes from Lewes and Rehoboth beaches, shopping, restaurants, and everything the Delaware coast has to offer.
With five bedrooms, recent updates, abundant living space, and a price below what the current owners paid just two years ago, this is an outstanding opportunity you won't want to miss.
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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 |
|---|---|---|---|
| Sep 13, 2026 | In contract | - | |
| In contract | |||
| Jul 19, 2026 | Price Decreased |
$599,900
↓ $20K
(3.2%) | |
| Price Decreased | |||
| May 1, 2026 | Listed by Berkshire Hathaway HomeServices PenFed Realty | $619,900 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty | |||
| Sep 4, 2025 | Price Decreased |
$615,000
↓ $10K
(1.6%) | |
| Price Decreased | |||
| Aug 14, 2025 | Price Decreased |
$624,999
↓ $14K
(2.2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017