32160 OAK DRIVE
About This Property
Tucked within a beautifully landscaped setting surrounded by mature trees and natural beauty, this spacious coastal retreat offers the perfect blend of privacy, comfort, and convenience. Nestled in a peaceful wooded area that feels worlds away from the everyday, the home is ideally located just minutes from Route 1 shopping, restaurants, and entertainment, while Lewes Beach is only a short drive away. A charming brick walkway leads to the welcoming covered front porch, setting the tone for the warmth and character found throughout the home. Designed with both everyday living and entertaining in mind, the first floor showcases an expansive open layout centered around a stunning gourmet kitchen. Featuring a massive center island, stainless steel appliances, wall oven, gas cooktop, abundant cabinetry with under-cabinet lighting, and generous prep space, this kitchen is truly the heart of the home. Beautiful laminate wood flooring flows seamlessly through the kitchen, dining, and living areas, creating a cohesive and inviting atmosphere. A charming breakfast nook with a bay window and skylight offers the perfect spot for casual meals while overlooking the serene backyard setting. Just beyond, the spacious screened porch provides an ideal place to relax and enjoy the outdoors in comfort, surrounded by peaceful nature and fresh coastal breezes. The adjoining sunroom, complete with French doors leading to the screened porch, allows for effortless indoor-outdoor living and fills the home with natural light. The first-floor owner's suite offers a private retreat featuring a large walk-in closet and a spacious ensuite bath with dual vanities, a soaking tub, and separate stall shower. Upstairs, the home continues to impress with an enormous second suite complete with a full bath, walk-in closet, and attached sitting room - perfect for guests or multigenerational living. Two additional bedrooms, another full bath, and a massive recreation room with multiple TV areas provide incredible flexibility for entertaining, hobbies, or game nights. A rear staircase leads conveniently to the attached two-car garage, while extensive storage space, including conditioned storage areas, adds exceptional functionality. One of the standout features of this property is the remarkable outdoor living space. Enjoy evenings gathered around the firepit beneath the stars, stroll along paved walkways through beautifully maintained landscaping, or relax in the fenced backyard surrounded by flowering shrubs and fruit trees. A grilling pavilion, outdoor shower, and expansive screened porch complete this private outdoor oasis designed for year-round enjoyment. Additional updates include two HVAC systems replaced in 2021, a Rinnai tankless water heater, and an updated crawlspace for added peace of mind. Experience the tranquility of wooded coastal living while remaining just moments from beaches, dining, shopping, and everything the Lewes area has to offer.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017