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302 LAUREL STREET
About This Property
Custom built in 2018, the home was thoughtfully designed to work equally well as a primary residence, second-home beach retreat, or income-producing investment property. Its strong rental history speaks for itself, with more than $127,000 in rental income and counting for 2026.
The main level is centered around a generous open living and dining area and a well-equipped gourmet kitchen designed for entertaining. Multiple islands, double wall ovens, two dishwashers, a wine and beverage refrigerator, and upgraded countertops provide both style and function. A first-floor primary suite adds convenience and privacy.
Upstairs, a second living area creates another comfortable gathering space, along with four additional bedrooms, including two with private en-suite baths, plus the laundry room.
The spacious basement is an added bonus!
Additional features include owned solar panels that help keep electric costs low, two oversized Rheem water heaters, and abundant storage throughout. An outdoor shed provides the perfect place for bikes, beach chairs, and other essentials.
With its flexible layout, generous living space, proven rental history, and exceptional in-town location, 302 Laurel Street offers a rare opportunity to enjoy Rehoboth Beach with room for everyone.
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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 |
|---|---|---|---|
| Oct 3, 2026 | Listed by Jack Lingo - Lewes | $2,700,000 | |
| Listed by Jack Lingo - Lewes | |||
| Jun 3, 2022 | Sold | ||
| Sold | |||
| May 8, 2022 | No longer available | - | |
| No longer available | |||
| May 2, 2022 | Listed by Jack Lingo - Lewes | $2,295,000 | |
| Listed by Jack Lingo - Lewes | |||
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About Rehoboth Beach
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$1,700 /mo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017