Welcome to easy coastal living in the charming waterfront community
of Cove on Herring Creek! This well-maintained 3-bedroom, 2-bath
ranch offers approximately 1,710 square feet of comfortable living
space with a bright, open floor plan designed for everyday living!
At the heart of the home, the spacious kitchen serves as the
central gathering place, featuring granite countertops, a stylish
backsplash, stainless steel appliances, and a convenient breakfast
bar perfect for meal preparation, casual dining, or hosting events.
Fresh new carpeting creates a clean, inviting feel throughout,
while generously sized guest bedrooms provide plenty of space for
family and visitors. With just a few minor cosmetic updates, this
home offers an excellent opportunity to add your own personal style
and build instant equity. Step outside and discover nearly a
half-acre of outdoor space ready to enjoy. Whether you're relaxing
on the sun deck, unwinding in the screened porch, or envisioning a
future pool, gardens, or outdoor entertaining area, the expansive
.49-acre lot provides endless possibilities. Nestled within the
Cove on Herring Creek community, residents enjoy a peaceful coastal
setting with a picturesque community pond that's perfect for
catch-and-release fishing, kayaking, or paddleboarding, along with
a refreshing community pool and beautifully landscaped streets
lined with mature trees. Even better, this home is being offered
mostly furnished, making it truly move-in ready. Whether you're
searching for a primary residence, vacation getaway, or investment
opportunity, this Lewes property offers the perfect combination of
comfort, value, and coastal charm.
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.
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